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Casino chips (also known as poker chips, gaming tokens, or checks/cheques) are small discs used as currency in casinos. Larger, rectangular gaming plaques may be used for high-stakes games. Poker chips are also widely used as play money in casual or tournament games, are of numismatic value to casino chip collectors , or may be kept as souvenirs .
The Chip Rack, now in its 21st edition, attempts to include all chips and checks issued by casinos in the State of Nevada. Some chips are considered high-value and have a listed value as high as $50,000. During their 2014 convention, a $5 chip from the Golden Goose SOLD for $75,000, and a $5 chip from the Lucky Casino SOLD for $52,500.
A chip race is an event that takes place in poker tournaments, especially those with an escalating blinds (such as Texas hold 'em), in which chips of denominations that are no longer needed (as the current and upcoming blinds are more easily played with larger chip values) are removed from play. This has the effect of reducing the number of ...
As the position whose turn to bet comes last, it is the most advantageous and profitable position in poker. one-chip rule A call of a previous bet using a chip of a higher denomination than necessary is considered a call unless it is verbally announced as a raise. one-eyed royals See main article: one-eyed royals one-ended straight draw
Sometimes, a player will not have enough chips in smaller denominations that would be needed to make a bet or raise in the desired amount—for example, a player may be out of $1 and $5 chips and still have $25 chips—if the pot is currently $70 and the player wants to open action by betting half the pot, they will want to bet $35.
Although poker chips are used in game play, the distinction between them and play money is threefold: play money is not intended to be used in gambling, play money (except for its value as a collectable item of board game parphenalia) is not exchangeable for real currency, and play money (especially when used for teaching) tends to have some ...
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