About Poker Chips Value

Chips are one of the most important elements of the many games that are cumulatively referred to as "poker." Poker chips generally represent money that is being gambled within the game, although they can also be used to simply keep score in nonwagering poker matches. Despite the popularity of poker, though, very few people know much about poker chips or their standard denominations.

Types

Some people play poker using such items as coins, buttons or other small things as their poker chips. In most instances, however, poker chips are standardized colored discs. The size, weight and material of these poker chips can vary, as can the color. The different colors are used to determine the denominations of each individual poker chip.

Function

Using differently valued chips, poker players can quickly and efficiently wager money without having to use cluttering currency. Each chip takes on a certain dollar value that is agreed upon by all of the players or is decided upon by the casino. During the poker game, the chips are played exactly as if they were money, and in fact during cash games the chips can be taken out of play between hands and exchanged for cash. During a tournament, however, the chips may not actually relate to the cash that was used to purchase them but instead simply indicate a player's standing within the tournament.

History

The usage of chips or markers in place of actual currency while gambling has a much longer history than poker. Some believe that casinos popularized the concept of chips because it is psychologically easier for a person to gamble with chips than it is to gamble with real currency. The fast proliferation of chips, though, outside of casinos in private games, would indicate that gambling with chips is simply more attractive to players than gambling with currency.

Misconceptions

Though many people believe that poker chips are standardized in denomination, this is untrue. Certain jurisdictions that allow gambling may legally regulate what color chips are used to denote certain amounts of money, but there is no one system that dictates chip values in all areas. In many areas, however, chip denominations are commonly as follows:
White: $1
Red: $5
Blue: $10
Green: $25
Black: $100
Purple: $500
Burgundy: $1,000
Light blue: $2,000
Brown: $5,000

Warning

In many legal jurisdictions, gambling is illegal, even in private poker games. While such laws vary in terms of enforcement, it is up to individuals to determine whether playing poker for money is legal in their jurisdiction. Comply with all local laws and take due caution.

Resources

• How to Make Poker Chips--From eHow