ChumpChange
ChumpChange
Joined: Jun 15, 2018
  • Threads: 23
  • Posts: 975
May 1st, 2020 at 4:46:07 AM permalink
Anybody have hundreds or thousands of dollars of casino chips at home waiting for the casinos to reopen?
Will casinos recall all the chips because they are COVID19 hazards and make what you're holding worthless?
Can the casino's RFID system see your chips at your home?
Will casino bankruptcies make your chips worthless?
AlanMendelson
AlanMendelson
Joined: Oct 5, 2011
  • Threads: 88
  • Posts: 3255
Thanks for this post from:
onenickelmiracleIndyJeffrey
May 1st, 2020 at 5:56:31 AM permalink
Quote: ChumpChange

Anybody have hundreds or thousands of dollars of casino chips at home waiting for the casinos to reopen?
Will casinos recall all the chips because they are COVID19 hazards and make what you're holding worthless?
Can the casino's RFID system see your chips at your home?
Will casino bankruptcies make your chips worthless?



You're kidding, right?

I don't know where you live but in Nevada the casinos and the Nevada Gaming Commission have announced how players are protected with chips and tickets.

RFID readers reaching into your home? Do you sleep in the casino? LOL
ChumpChange
ChumpChange
Joined: Jun 15, 2018
  • Threads: 23
  • Posts: 975
May 1st, 2020 at 6:05:10 AM permalink
Nevada Gaming Commission & Nevada Gaming Control - May 2018
https://gaming.nv.gov/modules/showdocument.aspx?documentid=11943

12.070 Redemption and disposal of discontinued chips and tokens.
1. A licensee that permanently removes from use or replaces approved chips or tokens at its gaming
establishment, or that ceases operating its gaming establishment whether because of closure or sale of the
establishment or any other reason, must prepare a plan for redeeming discontinued chips and tokens that
remain outstanding at the time of discontinuance. The licensee must submit the plan in writing to the
chairman not later than 30 days before the proposed removal, replacement, sale, or closure, unless the
closure or other cause for discontinuance of the chips or tokens cannot reasonably be anticipated, in which
event the licensee must submit the plan as soon as reasonably practicable. The chairman may approve the
plan or require reasonable modifications as a condition of approval. Upon approval of the plan, the licensee
shall implement the plan as approved.
2. In addition to such other reasonable provisions as the chairman may approve or require, the plan
must provide for:
(a) Redemption of outstanding, discontinued chips and tokens in accordance with this regulation for at
least 120 days after the removal or replacement of the chips or tokens or for at least 120 days after
operations cease, as the case may be, or for such longer or shorter period as the chairman may for good
cause approve or require;
(b) Redemption of the chips and tokens at the premises of the gaming establishment or at such other
location as the chairman may approve;
(c) Publication of notice of the discontinuance of the chips and tokens and of the redemption and the
pertinent times and locations in at least two newspapers of general circulation in Nevada at least twice
during each week of the redemption period, subject to the chairman’s approval of the form of the notice,
the newspapers selected for publication, and the specific days of publication;
(d) Conspicuous posting of the notice described in paragraph (c) at the gaming establishment or other
redemption location; and
(e) Destruction or such other disposition of the discontinued chips and tokens as the chairman may
approve or require.
(Adopted: 6/87.)
billryan
billryan
Joined: Nov 2, 2009
  • Threads: 168
  • Posts: 9037
May 1st, 2020 at 6:17:24 AM permalink
Any third grader can read the Wall Street Journal. Few will understand it.
ChumpChange
ChumpChange
Joined: Jun 15, 2018
  • Threads: 23
  • Posts: 975
May 1st, 2020 at 6:42:07 AM permalink
I should probably ask about gift cards for various businesses. Macy's has been downgraded to junk with an elevated risk of defaulting on its debts, but could last til 2021.
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
  • Threads: 206
  • Posts: 7948
May 1st, 2020 at 7:08:31 AM permalink
Quote: ChumpChange

Anybody have hundreds or thousands of dollars of casino chips at home waiting for the casinos to reopen?
Will casinos recall all the chips because they are COVID19 hazards and make what you're holding worthless?
Can the casino's RFID system see your chips at your home?
Will casino bankruptcies make your chips worthless?

You will be fine to get your money as soon as they reopen. If a casino never reopens, that would be a problem I'm not sure how you would deal with it.
In the land of the blind, the man with one eye is the care taker. Hold my beer.
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
  • Threads: 206
  • Posts: 7948
May 1st, 2020 at 8:40:08 AM permalink
I don't really know much about RFID, but what I remember off the top of my head is, there are RFID readers in many places. It could be theoretically possible some entity could detect them within the presence of your home. I'm not sure what scenario this happens under.
In the land of the blind, the man with one eye is the care taker. Hold my beer.
sabre
sabre
Joined: Aug 16, 2010
  • Threads: 2
  • Posts: 811
May 1st, 2020 at 8:47:25 AM permalink
Quote: onenickelmiracle

I don't really know much about RFID, but what I remember off the top of my head is, there are RFID readers in many places. It could be theoretically possible some entity could detect them within the presence of your home. I'm not sure what scenario this happens under.



If you don't know much about RFID then why are you commenting on them?
smoothgrh
smoothgrh
Joined: Oct 26, 2011
  • Threads: 60
  • Posts: 570
May 1st, 2020 at 8:50:04 AM permalink
A somewhat related question: How do casino cashiers know which chips have been discontinued?

I sometimes have “collector’s remorse” and wonder if I could cash in my 10-year-old chips. If a casino’s logo hasn’t changed, how does a cashier (or dealer) know not to accept it?
billryan
billryan
Joined: Nov 2, 2009
  • Threads: 168
  • Posts: 9037
Thanks for this post from:
smoothgrh
May 1st, 2020 at 9:16:42 AM permalink
Quote: smoothgrh

A somewhat related question: How do casino cashiers know which chips have been discontinued?

I sometimes have “collector’s remorse” and wonder if I could cash in my 10-year-old chips. If a casino’s logo hasn’t changed, how does a cashier (or dealer) know not to accept it?



It's much easier to pass off an obsolete chip or two at a table than a cashier. It's akin to returning your empties to Mich. instead of your own state. It's just not worth the effort. I once had a cashier in AC refuse a chip I'd just won on a table. I took it back to the pit and they exchanged it without hesitation.

  • Jump to: