Chips Meaning – Betting Tokens Used in a Casino Instead of Cash
Chips are the casino’s official currency. If you want to place bets in a casino, you can only do so by using chips.
Using real money to bet at casino tables is practically impossible, as it presents a logistical nightmare and opens up the door for many potential problems. So, casinos use chips to simplify the betting process and prevent fraud.
For example, if you visit a casino and want to bet $1,000 during your time there, you need to exchange your money for chips before you can bet.
In return, you’ll get chips in different colors and denominations, making it easy for both you and the dealer to keep track of the action and follow the bets.