Chips is the world currency of gambling and poker games. In gambling establishments spins a lot of money, but it all starts with these little round chips. So why do casinos use them instead of cash?
The main reason that casinos prefer them over caches is that they draw a line between player and money. It is easier for players to place a large bet of chips. Since this is not actual cash, the easier it is to risk it.
Basically, it’s a question of psychology. If a player wants to bet $500, he can have a lot of bills in his hand. Real marathonbet casino review money gives a chance to spend it for a long time. But if you have one small 500-dollar chip in your hand, it may take only a second to lose this amount.
They also provide the gambling establishment with an additional level of security. The casinos strictly control their number and use a number of tricks to prevent criminals from using them.
A few years ago, a thief robbed a Bellagio casino and took away $1.5 million worth of chips. After calculating the losses, the owners noticed that a significant part of the stolen chips consists of denominations of $ 25,000.
A few days later they announced that they would stop using the chips of such par value in their institution and they would be useless after a certain period of time. This put Marathon Bet the thief in an uncomfortable position and he was caught trying to sell the stolen chips via poker forums TwoPlusTwo.com.
Some casinos are equipped with radio frequency identification (RFID) chips. This helps protect against fraud. If someone brings in filigree fakes, they won’t be identified. When the RFID chips are stolen, the casino can identify which ones are missing and take them out of circulation at its premises.
The RFID tag also allows the casino to see dealer mistakes or can catch players trying to place extra chips after a bet is closed to track how the chips are spinning in the casino, etc. Casinos can use this information to optimize profits, track trends and avoid losing money.
One of the reasons casinos use chips is because of convenience. In intensive games there is no time to wait for players to look for money for each bet. Usually people bend the money in half, it doesn’t add up easily, it’s hard to track and it takes up a lot of space.
Games with high stakes would make these issues even more difficult. Imagine playing poker with a fixed limit of $4000-$8000 and a lot of hundred dollar bills. It just won’t work, and small round denominations make life easier for everyone.