What would you do?

I'm sure that is true, if "the casino" happens to find it and pick it up.
If they know so much about where their chips are, why was it laying on the floor?

If I find it and pick it up, it is mine.

I really hate that buff13815 turned in the one he found. That chip represented money that belonged to a player, though that somebody was careless enough (maybe drunk) to lose it.

I doubt someone sits at a screen and watches any certain chip. Unless one is reported missing, they are not going to beam down on it laying on the floor.
They are alerted if the chip leaves the property and if needed, they can find it by tracing it's movement....
and exactly to the person who picked it up if the timing is right.

When chips with RFID are cashed in, they are scanned.

You are a wise and mighty tree.

No record, no ID required....but most likely, for a $1000 chip, the cage will call the pit and ask if anyone with your description just cashed out with that chip. If you don't match the description, they'll probably ask where you got the chip from, and take it from there - possibly reviewing surveillance footage of you, etc.

This is done for several reasons - to attempt to avoid fraudulant chips, thefts, detection of Title 31 structuring schemes, etc. It's also done to protect the patrons.

For instance, if you were at the blackjack table playing $1k/hand, and someone next to you playing $10/hand stole some of your chips while you weren't looking and headed to the cage, wouldn't you hope the cage would ask some questions of the thief and review his play before cashing him out?

makes sense to me thanks

As others have said, when you go to the cashier's cage and try to cash big chips or a lot of chips they will ask where you got your chips from (what game), then they will proceed to call the pit to verify that you indeed won the money there. I guess they will probably give you the third degree on where you got the chip if they can't confirm that you won it and you may have a problem cashing the chip.

I experienced the third degree before, when I won money at the flamingo a number of years ago (a couple of grand) and went to cash the chips they asked me where I won the money. When I told them it was at the craps table they proceeded to call the pit to verify that I had won the money there.

I guess if I had a $1000 chip I might consider playing with it, maybe going to the craps table and using it to play a number of bets. then taking the smaller denominations ($25's) and pocketing it and later cashing it in small amounts to not arouse suspicion. Not sure how the tables react when you bring a $1000 chip to play, if they will question you but because of the pace of play they might not stop the game to give you the third degree.

Too bad the casino didn't give the OP anything for doing a good deed, at least a comp meal or something.

I just came back from the Mirage and cashed $1000 chips all day in amounts under $3,000. No questions and no player card needed. I was only asked once if I had any markers. This was at the main cage. They were always efficent and professional. Same thing at Venetian and Bellagio.

My father dropped his wallet on a casino floor in Niagara Falls. Someone found it and gave it to security without one dollar removed.

I would pay it forward given the chance. Of course, that little devil on my shoulder would probably call me a wuss.

You did good!!!

I would not of touched it, after I picked up 4 twenty dollar bills out of an empty slot tray Harrah's security got me to understand about not touching money that does not belong to you. Call security, but do not touch. 1st offense (me) is a warning, 2nd is 30-day ban from casino, 3rd is permanent ban.

Honesty is always the best policy.

A lot of people don't believe in this anymore but I live my life by it and in return my reputation is like gold in my circle.

My 2 cents