Almost all online casinos and games that involve real money do not allow players to play with direct cash and instead convert the currency into chips. Chips are the standard currency for both- land as well as online casinos. The value is decided according to the game and the casino. For instance, if you are playing poker, the poker chip values will be decided by them and you must buy the chips with your money before you can proceed into the game.
A player may wonder why to go through so much of a complex process when a player can easily invest his money directly in the bets and spins. But there are some really valid reasons why casinos and online games use chips or artificial coins to conduct a game. In this article, we shall enquire into the reasons behind this mystery. Without any further delay, let us roll right into it.
Chips greatly alter the state of mind and how players view money. It dupes the mind into thinking of it as nothing but a game. It creates a mental barrier between the player and his precious hard-earned money. Money stares right back at him but once chips come into the picture, it is a completely different thing. While the player is not unaware of the fact that chips are money in disguise, it leads him to give in to the adrenaline rush and take more risks.
Money is the most unique commodity as in a person’s mind it can be used in a hundred places simultaneously. And a player does not forget that. It prevents him from taking risks. But by transforming it into a more specific commodity (the chip), the mental barrier is lifted and the money mysteriously becomes destined for the slot or table at a casino.
Playing with chips is more convenient because the valuation is justly divided according to the slot or game rules. For example, if a player wants to play poker and slots with cash, it can be quite an inconvenience to pay individually over and over. But the poker chips values and slot value will be arranged in such a neat manner that it becomes easier for players to wager bets.
Land casinos also prefer using chips for they are easier to handle than cash. Cash also becomes difficult for the dealer to count whereas chips come in decided values. One can simply stack and evaluate the total.
For land casinos, it is easier to track chips and protect them against theft. To emulate the aura of a casino, chips continue to remain in most online casinos. They are a lot more secure than cash. In an online casino game, the cash directly gets accumulated in the main secure account which deals with all the payments and deposits. The website only issues chips to the players. Therefore, if a hacker hacks the website, there is a high chance that he will only be met with chips that would hold no value to him. In case of a security breach, this gives the authority the time to take measures against cyber attacks.
Online casinos offer better security compared to land casinos.
Tradition and Style
Casinos have been made famous by several Hollywood films and since then it has enraptured the minds of people. The casino is not just about earning some quick money but also about the experience. Online casinos have cropped up so widely to render the experience of playing at a casino without having to visit exotic places.
Chips are a very important part of the tradition and add to the aura of a casino. Thus, online games find it imperative to retain them. Just as live dealers add an excitement similar to real casinos, tokens or chips do the same.
What are the Popular Methods of Payment in Online Casinos?
Chips must be bought with money and there are several ways to make your deposit. Calculate the poker chips values and decide how much you wish to wager. Once decided, go for any of the following methods:
- Bank transfer: you can use your debit card or credit card to make a bank transfer. You are eligible to make deposits as well as receive payments through this method.
- Cryptocurrency: crypto is growing at a neck break speed and will soon be the currency boom. Most online casinos accept crypto as a method of transaction. It is also extremely safe and you can withdraw your payout in no time.
- E-wallets: E-wallets are digital wallets that allow the user to make electronic transactions with a third party bartering digital currency units. Today, we all have at least one e-wallets, and thus it is the most convenient of all to use. You also get several options under this method like Neteller, PayPal, etc.
Chips have been used in casinos since casinos came into existence and have stood the test of time. It makes playing easy as well as adds a layer of security to the transactions.