What are promotional chips?

[SystemsTrader]

I've been getting a lot of comp offers recently with promotional chips as a bonus. Are these promo chips regular chips which I can just use or cash in for equivelant money or are they some kind of goofy chips used for fun or something else?

 

[cardcounter0]

Usually, promotional chips are chips that can't be cashed out.

You use them to bet with, and if you win, they are replaced with and the winning bet paid with real chips that you can cash out.

So the real value of promotional chips are 1/2 the face value minus the house edge of the game you are playing.

 

[Guynoire]

So the real value of promotional chips are 1/2 the face value minus the house edge of the game you are playing.

That's the worst case scenario, which admittedly is the most likely. The value of the chips depends on the rules the casino assigns to them which vary depending on the casino. If they're the type of chips that are kept after a win then their value is near 100%. If they are taken after a win but can be used on any bet then you can raise their value to near 100% by betting on single numbers at roulette. If they are the worst case scenario, taken after a win and restricted to even money bets, I suggest you play craps and try to convince the pit boss to let you take odds with them for the full payout.

 

[callipygian]

The value of the chips depends on the rules the casino assigns to them which vary depending on the casino.

Everything you wanted to know about coupons, and then some ...

http://www.blackjackforumonline.com/content/beyondcouponsbjfo.pdf

 

[ColorMeUp]

I got promo chips from a few different places in Vegas this year. They all worked the same. The promo (they called them non-negotiable) chips were a different color than the regular chips, and you couldn't cash them out. You bet with them as normal, and if you won they paid you with regular chips. So basically you keep betting with them until you lose them.

They are worth 100% of their face value minus the house edge of the game you are playing. Or, if you're counting, they would be worth face value plus your expected edge.

 

[EasyRhino]

Depends on the offer. I've seen "keep them until you lose" chips in use at a Harrah's property or two, but I've gotten MGM Mirage offers with "funny chips" in which the chip is removed on either win or loss (worth about 50%).

 

[GeorgeD]

Not quite the same, but the local joint gives free slot tokens. They used to just give tokens that you could cash, but now you put your card in a machine and request the credit. You can't cash out the credit, but you can cash out any winnings. The display counts down the credit so you know when it's used.

Since it's free, I usually play it out and give any winnings to my wife for slots ...... though if I hit a BIG jackpot Maybe I'll cash out and keep it myself.

 

[bjcounter]

They should be okay as long as you plan on playing awhile. I purchased $50 of them for $20 at Binions (I believe) last year on a trip. They just pay you real chips when you win and take them when you lose. Not a bad deal depending on what they offer you.