Casino personnel normally reference chips as "cheques," which is of French ancestry. In reality, there’s a distinction between a chip and a cheque. A cheque is a chip with a amount printed on it and is constantly worth the amount of the printed denomination. Chips, although, don’t have denominations written on them and any color can be worth any amt. as defined by the dealer. e.g., in a poker tournament, the house might define white chips as one dollar and blue chips as $10; whereas, in a game of roulette, the casino may define white chips as $0.25 and blue chips as two dollars. A different instance, the inexpensive red, white, and blue plastic chips you can get at Target for your weekend poker game are referred to as "chips" because they don’t have denominations written on them.
When you plop your cash down on the craps table and hear the croupier say, "Cheque change only," she’s merely advising the box man that a new individual wishes to change money for chips (cheques), and that the $$$$$ on the table is not in play. $$$$$$ plays in almost all casinos, so if you put a five dollar bill on the Pass Line just prior to the tosser rolling the dice and the dealer doesn’t exchange your $$$$$ for chips, your $$$$$$ is "live" and "in play." When the dealer announces, "Cheque change only," the boxman understands that your cash is not part of the action.
In reality, in live craps rounds, we gamble with cheques, and not chips. Ever so often, a gambler will approach the craps table, put down a one hundred dollar cheque, and inform the dealer, "Cheque change." It’s amusing to pretend to be a beginner and ask the croupier, "Hey, I’m new to this game, what is a cheque?" Most of the time, their comical responses will amuse you.
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