Real Casino Cash sets (3 Viewers)

[ChipEnvy]

I know a casino doesn't have to cash a chip if a person didn't acquire it themselves at the table, but I don't think a casino can confiscate chips. iirc the dude that found the $5K chip in a Taxi was allowed to keep the chip but the casino didn't cash it because he was not in their books playing at a level that would have him in possession of that chip.

 

[ChipEnvy]

^^^ Nevermind...
https://lasvegassun.com/news/2007/mar/09/chips-no-longer-good-cash/

 

[Darson]

Hmm... so if I tip a waitress or dealer with a chips, the casino can refuse to pay them out because they weren't received by gambling? I guess they bend the rules for their employees otherwise there'd be a strike!

 

[ADS Aviator]

Hmm... so if I tip a waitress or dealer with a chips, the casino can refuse to pay them out because they weren't received by gambling? I guess they bend the rules for their employees otherwise there'd be a strike!

I believe the casino is required to redeem those tipped chips under Reg 12.060 4b ....in Nevada.

 

[Darson]

I believe the casino is required to redeem those tipped chips under Reg 12.060 4b ....in Nevada.

So they provide a carveout for their employees, smart.

But also:

(c) A person engaged in the business of collecting from licensees chips and tokens issued by other licensees and presenting them to the issuing licensees for redemption.

This is interesting - so if you find a chip, you can go to a person who's business it is redeeming these chips and get them to cash it?

 

[ADS Aviator]

This is interesting - so if you find a chip, you can go to a person who's business it is redeeming these chips and get them to cash it?

Possibly. Seems like they forsaw the possiblity that a 3rd party might need to be hired to move chips between licencees for redemption, like a Brinks or similar company? I know Caesars properties redeem other Caesars properties chips (same licencee), but not sure they redeem other licencees chips anymore. I've never tried personally.

It'd be interesting to know if this service exists though.

 

[BGinGA]

Possibly. Seems like they forsaw the possiblity that a 3rd party might need to be hired to move chips between licencees for redemption, like a Brinks or similar company? I know Caesars properties redeem other Caesars properties chips (same licencee), but not sure they redeem other licencees chips anymore. I've never tried personally.

It'd be interesting to know if this service exists though.

I took it as accommodating services that collect chips from the public during redemption periods before a rack change.

But the 'Brinks' angle also makes sense.

 

[Viet]

Maybe just collect $1, and $5 casinos chips and just have cash play at our home games.

 

[allforcharity]

Maybe just collect $1, and $5 casinos chips and just have cash play at our home games.

Those $5s can get really expensive to keep depending on your stakes and bank needs. What if you need 400-600 of them? Is it worth it to tie up 2000-3000 dollars for those few racks if you can get obsolete casino chips for 60-80% less? Especially if you can get most of your money back if you sell them in the future?

 

[Viet]

Those $5s can get really expensive to keep depending on your stakes and bank needs. What if you need 400-600 of them? Is it worth it to tie up 2000-3000 dollars for those few racks if you can get obsolete casino chips for 60-80% less? Especially if you can get most of your money back if you sell them in the future?

Very true. I just like the idea of having casino chips so make complete sure that no one can buy duplicates off the streets and bring them into the game.

 

[allforcharity]

Very true. I just like the idea of having casino chips so make complete sure that no one can buy duplicates off the streets and bring them into the game.

But they still can, because the chips are live and can be gotten anytime. There's just a disincentive because minimum cost is face value. You will have to decide whether that extra bit of security is worth all that money. For some the answer is yes, for others no.

 

[Viet]

But they still can, because the chips are live and can be gotten anytime. There's just a disincentive because minimum cost is face value. You will have to decide whether that extra bit of security is worth all that money. For some the answer is yes, for others no.

That fact that their live is the point. If they were to bring a casino chip from outside their value would be the same if they were to buy them from me.

 

[BGinGA]

I just like the idea of having casino chips so make complete sure that no one can buy duplicates off the streets and bring them into the game.

You can get the same level of security with customs, for 1/2 to 1/5 the cost (for $5 chips).