Casino tokens are small colored metal or plastic discs used in gambling establishments.
There are two main types of tokens used in casinos: multicolor tokens of various denominations called chips, used primarily in table games; and metal token coins, used primarily in slot machines. Some casinos also use gaming plaques for high stakes table games ($25,000 and above). Plaques differ from chips in that they are larger, usually rectangular in shape and contain serial numbers.
Money is exchanged for the token coins or chips in a casino at a cashier station (the cage), at the gaming tables, or at a slot machine. The tokens are interchangeable with money at the casino, but have no value outside of the establishment.
These tokens are employed for several reasons. They are more convenient to use than currency, and also make theft and counterfeiting more difficult. Because of the uniform size and regularity of stacks of chips, they are easier to count compared to paper currency when used on a table. This attribute also enables the pit boss or security to quickly verify the amount being paid, reducing the chance that a dealer might be overpaying a customer.
Furthermore, it is observed that consumers gamble more freely with replacement currencies than with cash.
Finally, the chips are considered to be an integral part of the casino environment, and replacing them with some alternate currency would be unpopular. However, many casinos are moving to paper receipts.
Casino tokens are collected as a part of numismatics, more specifically as specialized exonumia collecting.
This guide is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
Post new comment