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Ask Veronica, Entertainment Exec.
Category: Entertainment
Satisfied Customers: 154
Experience:  10+ years as an Entertainment Executive and Industry Insider
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Can a $5000 casino chip be used to play if it was found?

Customer Question

If I found a $5,000 casino chip, can it be used to play at the casino?

Will it be an issue with the casino if I just walk up to a table and give them a $5000 chip to play with?

Submitted: 5 years ago.
Category: Entertainment
Expert:  Ask Veronica replied 5 years ago.
Ask Veronica : Hello and welcome to Just Answer, I am happy to help you today.

Please let me know which State you intend to use the chip in ?

Customer : In Nevada
Expert:  Ask Veronica replied 5 years ago.

You can only use the chip in The Casino it was issued.
Since you are in Nevada, I am sending you a chip information guide for all of the Casinos

In that State. Please let me know if you cannot find the chip. Happy Hunting !
( http://www.themogh.org/cg_state2.php?id=nv )

Best,
Veronica

Expert:  Ask Veronica replied 5 years ago.

You can absolutely use it at the Casino where it was issued.
They will not ask for proof or date of purchase.

Veronica

Customer: replied 5 years ago.
What if I just want to cash it out?
Expert:  Ask Veronica replied 5 years ago.

As long as you have a valid photo id, you can cash it out. Chips are simply markers for cash. You will have no problem turning it in for

actual money.

Ask Veronica and other Entertainment Specialists are ready to help you
Customer: replied 5 years ago.
Sorry, but I did not accept your answer because it was not accurate. I went to the casino to cash it out. They track all their high dollar chips and will not cash them out unless they can track it back to who actually won it. Speaking with other people chips higher than $1000 will always be questioned. I was lucky not to have been detained for questioning and lucky they did not confiscate the chip. Vegas casinos are not willing to part with their money very easily. Money mouth
Expert:  Ask Veronica replied 5 years ago.

I appreciate your follow up response, however, I respectfully ***** ***** frequently gamble on the West Coast especially Las Vegas and I am a regular at high stakes tables. As of Jan 2012, there was no tracking system place in their chips. In addition, 5,000 dollars may seems like a lot of money but for a casino it equals about one penny in comparison to the billions of dollars they take in each day. I have also never personally experienced or heard of a Casino calling the authorities on a patron. Casinos want you business and they do not want negative publicity. 99% of detentions happen by their own security and that is for stealing chip, counting cards, using a device to win on slots or drunk and disorderly behavior. I do not want to provide anyone with an incorrect answer. If you give me the name of the Casino I will personally call them and confirm that they have in fact placed a monitoring system in their chips ( which would cost them millions ) I will then repost my findings for you back here. If the information you are getting is from friends, is it possible they are putting you on ? I don't want to see you lose out.... Let me know if you would like me to proceed. Thanks, Veronica

Expert:  Ask Veronica replied 5 years ago.

As promised, I did additional research on this subject and I thank you for having
brought to light what appears to be a controversial issue.

My original answer was based on personal experience and I did confirm by doing some internet research. Nothing about tracking or embedding showed up.

After our exchange, I dug deeper and I will provide you with links to the articles I am referencing. This is what I have discovered:

Allegedly, the only two Casinos in LV with radio frequency id (RFID) are The Wynn and Aria. This does cost millions of dollars and was instituted to prevent theft and counter fitting of chips. It can also be used as a "big brother" watch program to track your movements and spending habits through the casino so they can better comp their high rollers and gather statistics. What is interesting, is that many "high rollers" want their privacy and are against RFID's.

More common is an invisible stamp that is visible under a black light. This simply
indicates to the cashier if your chip is real. So, I strongly feel your chip probably
has an invisible stamp and is perfectly cashable. Of course I do not want you to get in trouble, but please read the provided articles so you are armed with all of the facts.

Lastly if you found $ 5,000.00 in cash with no indication of who the owner is, it would be yours. I do not see the difference with a casino chip. If it is real, and from their Casino, they should be obligated to cash it for you. Please take a moment to read the articles below and I really appreciate that you accepted my answer.

Be well,

Veronica

Reference Articles :

http://news.cnet.com/Vegas-casino-bets-on-RFID---page-3/2100-7355_3-5568288-3.html?tag=mncol

http://www.casino-chip.com/casino-chip-security/

http://forum.alanbestbuys.com/archive/index.php/t-642.html?s=f3571a84a551c9b97026d0a0225bfa1b