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In gambling, “chips” are small, round pieces used as currency in casinos. These tokens represent a monetary value and are used in place of actual cash for betting in various games like poker, blackjack, roulette, and others. Chips are typically made of plastic or clay, and come in different colors and designs, each color representing a different value.

The use of chips in casinos has several purposes. It simplifies the handling of large amounts of money, enhances security, and makes it easier for both players and dealers to keep track of bets. Chips also play a psychological role, as using them can make the amount of money being wagered seem more abstract, which can affect players’ betting behavior. At the end of their casino visit, players exchange their chips back for cash at the cashier’s cage.