Chips are the currency used by casinos all over the world. Head to any land-based casino and even play live casino games online and you’ll be playing with chips instead of cash. Before you start playing at any casino you are required to exchange your cash for chips before heading over to the blackjack table or whichever is your favourite game.
So why do casinos use chips instead of cash? After all, you may think that dealing in cash would be easier than chips. But casinos use chips for a reason. Here’s why:
1. Psychology
The main reason that casinos choose chips over cash is because the plastic discs add mental separation between the punter and the value of money. It’s easier for the punter to place a big bet using chips than cold hard cash.
Whilst the punter does know what those chips represent, it’s not actual cash in hand. Therefore, they feel less inhibition against making bigger bets. For example, if you were planning to place a £200 bet on Roulette and all you had was cash, you would need to count out the notes. So 10x £20 notes becomes very real when staring you in the face. This gives you time to realise what you’re actually doing and a chance to pull out.
Whereas if you’re playing with chips all you need to do is throw a single disc down on the table. On the face of it it doesn’t look like much. After all, it’s just a single, lonely chip being placed on green felt. Takes just a second to place it and your money is out of your hands.
It’s not only at land-based casinos that chips are used. You’ll find the same online. The little disc simply doesn’t distract you from making a bit bet or a bet of any kind, compared to how actual notes would make you reconsider your decision. You can see the virtual chips yourself by playing at any game at an online casino, such as Blackjack: https://casino.betfair.com/c/blackjack.
2. Security
Using chips instead of cash also provides the casino with an additional layer of security. Inside of a casino these chips can be worth thousands. Outside of the casino they’re worth next-to-nothing.
This also prevents fraud. You can’t get away with bringing fake chips into the casino. Likewise, there’s no value in stealing them.
There are many disadvantages for a casino to play with real money. It’s almost inviting criminals onto their premises. Therefore, using chips seems like a logical decision.
3. Convenience
Another good reason for casinos playing with chips over cash is simply the convenience of them. It’s a lot easier for players to place chips on the mat instead of rumbling through their pockets to find notes and coins to place.
Likewise, money doesn’t stack as well and is harder for the croupier to count than coloured chips. Imagine placing a £1,000 bet? Much easier done with a couple of chips than placing 50x £20 notes on the table.