Casino
Tokens
March 12, 2006
The small colored metal or
plastic discs used in gambling establishments are termed
and coined as casino tokens. Usually two types of tokens
are used in casinos. Chips (multicolor tokens of various
denominations) and metal token coins. Chips are used
primarily in table games and other variety is used
primarily in slot machines. Gaming plaques are also used
for high stakes table games by some casinos. These
denominations are about $25,000 and above. These plaques
differ from chips as they are larger and usually
rectangular in shape and also contain serial numbers.
There is a section of cashier station called the cage.
For the token coins or chips in a casino money is
exchanged at the cage, at the gaming tables, and at a
slot machine. These tokens do not have any value outside
of the casino, but are interchangeable with money at the
establishment. For several reasons and functions these
tokens are deployed and employed. Tokens are handier to
use than currency, and also it is difficult it to steal
or counterfeit. The tokens, especially chips are easier
to count compared to paper currency when used on a table
as they are of the uniform size and also due to their
regularity of stacks. This factor also helps to quickly
verify the amount being paid and also enables the pit
boss or security to reduce the chance of a dealer who
might be overpaying a customer. Also according to survey
the players gamble more freely with replacement
currencies than with cash.
History of casino tokens:
Around 1964, the circulation of silver dollar coins was
stopped after the increase in the value of silver. Most
of the casinos then rushed to find a substitute. most
slot machines of the casinos at that time used that
particular silver dollar coin. After consultation with
the US Treasury the casinos were soon allowed to start
using their own tokens to operate their slot machines.
The main and chief minter of tokens at that time was
famously known as the Franklin mint.As per many laws the
casinos are not permitted to use currency in slot
machines. Here comes the role of tokens. Most obviously
the chips and other casino tokens are considered to be
an integral part of the casino environment. Replacing
the casino tokens
with some alternate currency would be very unpopular
among players. Although, there is trend seen in many
casinos, which are moving to paper receipts.
Copyright © 2000-2007
GamblingWiz.com All rights
reserved. |
