Casino personnel usually allude to chips as "cheques," which is of French ancestry. In reality, there’s a difference between a cheque and a chip. A cheque is just a chip with a value printed on it and is forever worth the amount of the printed denomination. Chips, on the other hand, don’t have values written on them and the value is defined by the table. For instance, in a poker tournament, the casino may value white chips as $1 and blue chips as ten dollars; whereas, at a roulette game, the dealer may value white chips as 25 cents and blue chips at two dollars. A different example, the inexpensive red, white, and blue plastic chips you purchase at Wal-Mart for your weekend poker game are called "chips" due to the fact that they do not have denominations imprinted on them.
When you plop your money on the table and hear the croupier announce, "Cheque change only," he’s basically informing the boxman that a new bettor wants to exchange money for chips or more correctly cheques, and that the money on the table is not in play. Cash plays in many casinos, so if you put a five dollar bill on the Pass Line just before the player rolls the pair of dice and the croupier doesn’t change your money for chips, your money is "live" and "in play."
Technically, in live craps games, we bet with with cheques, not chips. Every now and then, an individual will walk up to the the table, drop a 100 dollar cheque, and tell the croupier, "Cheque change." It’s amusing to act like an amateur and ask the croupier, "Hey, I am a brand-new to this game, what’s a cheque?" Generally, their wacky answers will amuse you.
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