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Today’s betting chips are still custom-designed, with many still containing clay in their composite material. To further make it hard to counterfeit these chips, some casinos use specific texture, weight, color, and design, while others even embed microchips to make them virtually impossible to forge. The standard poker chips we know today were first introduced in the early 1800s; this is not uncommon since most gambling games use some type of marker to represent monetary value. Whether you’re buying chips as a hobby or you want to make money from them, you’ll need to move forward cautiously.
In order to properly dispose of chips, a casino is required to consult with a board-approved disposal company. At times, the disposal company can be the same one that manufactured the chips. Expired chips are loaded into a truck and crushed by a tumbler into dust. Gaming regulators are required to be present in order to run an audit and to witness the actual destruction.
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Most other collectibles lose value after being bought at retail and then may slowly appreciate. Baseball cards, for example, become valuable only after certain star players have noteworthy careers. “If you buy a chip off the table at face value, you can always cash it back in for exactly what you paid for it,” says Black. “If the casino goes bankrupt or changes name, the chip is worth even more.” Studies that have assessed players gambling behavior with cash and real money have called for casinos to allow players to gamble with their real money. This is drawn from the principle of human spending psychology, which dictates that people spend less when spending real money. Thus, in spending real money, players would be able to pull out when they lose at casino tables, rather than wagering more chips and losing more.
That is a good thing for many because casino chips are the ones that give soul to casino games. Remember that the chip’s value and color differ from one casino to another, and this is a general pointer of standard chip values. There is no universally adopted color scheme for casino chips. Designs are variable nationally and regionally and sometimes differ by the casino venue’s event type. Each casino has its different chips, different from chips in other casinos and easily recognized based on their branding, colors, and other factors.
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Microstamping and embedding of high-resolution quality artwork is another way for casinos to make it harder for people to replicate or counterfeit their chips. In the event of massive fraud, casinos can simply decommission all of its chips, then produce another batch to prevent the perpetrators from cashing out their chips. This basic regulation presents a considerable risk for casinos because if these are just plastic tokens, almost anyone can replicate it. As long as you know the chips’ exact specifications, you can literally be “molding” casino money. Casinos have everything figured out, though, because they have several anti-counterfeiting measures to prevent fraud, including the use of microchips, or chips within their chips. If you’re wanting to play at a table with a dealer, you can just hand your cash over in exchange for chips.
Prior to 1987, nobody cared what casinos did with their chips. Nowadays, each chip manufacturer has their own formula, and it usually is a trade secret. Moreover, in order to avoid forging, each chip has a label, which is only seen under UV lighting. Some casinos also use radio-frequency identification or RFID for tracking their chips. For instance, even if someone steals a bunch of casino chips, they wouldn’t be able to hide them.
