A:
[Editor's Note: This answer was supplied by Andrew Uyal, our man behind the pit and author of The Blackjack Insiders.]
This is a question a lot of people ask on the casino floor, especially on the Strip. It's fairly common for people to bounce from casino to casino. Wouldn't it be easy if we could just play any chip at any casino? Unfortunately, it's a tad more complicated than that.
Typically, the only casinos where the chips are interchangeable are those owned by the same company. For instance, if you have chips from Caesars Palace, they'll accept them at Paris, Bally's, Planet Hollywood, or any of the other Caesars properties. Now, even though they'll accept them, they usually aren't playable. What I mean by that is, normally a casino can accept bets of chips only from that casino. So if you're at Paris with a pocketful of Caesars Palace chips, they'll take those, but they'll exchange them for Paris chips and you can play with those.
Chips from properties that aren't owned by the same company are usually not accepted at the tables. For instance, if you're at Paris and have chips from an MGM property, you'll either have to visit another MGM property, or perhaps visit the cashier's cage, where exchanges tend to be a little more liberal. Not always, however.
As for the out-of-town chips, these are typically not accepted. Sometimes, exceptions are made at the cage in special circumstances, but I wouldn't count on it. They're too hard to verify.
Same goes for older chips. When a place closes down, there is usually a generous window of time for chips to be turned in. Once that window passes, they're nothing more than collector's items.
When I was playing, I made a habit out of visiting the cage and turning my chips in before leaving a place. I'd only hang onto chips if I knew I'd be returning in the next few days. Or, of course, if I was hiding how much I actually had on me, with a return trip in mind. But that's just me!
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