So, I'm visiting Las Vegas for only the second time in my life for work. I am primarily a sports bettor and have been doing well this year so far. Through an aquatince I've met through one of the sports books here I was invited to a cook out last Saturday for food and college football. To save time I'll spare the unnecessary information... There was a gentleman there who was adamant that the Texas longhorns were going to crush the Oklahoma sooners and kept telling people they were on the wrong side if you go with Oklahoma. So,I thought to myself, I'll bite, let's have a friendly wager. So I told him I'd be willing to do a side wager with him. He scoffed and turned into an obnoxious prick and said he wouldn't wager anything less than 10k. I told him I didn't want to put that much on it and told him I'd meet him in the middle with 5k. And he agreed. So, after verification that I had the money in my account and he had the money on him to square up we shook hands. Lonng story short I ended up winning and he paid me out and took off. Now, the reason I'm upset by this is, is that i was unaware that I couldn't cash out a 5k MGM chip without showing proof I won it there. Is there a way around this in thought any chip denomination had to be honored by the casinos as long as it wasn't counterfeit? I don't know what to do

Ban this OP thief please Mods.

He did not pay you out with "money" he had on him, accepting that chip was your mistake.

Y certainly seem to have ou accepted that chip as settlement of the debt ,you even post that "he paid me out".

Was it that "friendly" a wager ? He still owes you $5,000 if this was "friendly". Maybe you can sell him back his chip for $5,000, because I do not think he paid you. You however posted you accepted the chip as payment, even though he had money on him to have fully paid you ....

(Use of a casino chip to settle obligations, or for any other use aside from gambling in the casino, is prohibited. )

Ask your "acquaintance from the sportsbook" if he has contact info for the guy you bet against. Good luck.

Otherwise, frame the chip and put it on a wall at your home, as a reminder.

Not a hard thing to get around... buy into either craps or blackjack with it and play for about 20 min. Step away from the table to check a text, "sorry I have to go."

I have found it best to do this on a busy table on a busy night...

Since there are RFID numbers attached to chips can't they look up the owner of the chip and ask?

This is a good question to ask someone with security knowledge. I like the idea of just buying in with it, but jags is right that it most assuredly has an RFID chip and I'd be expecting a visit from security in pretty short order upon putting it play in a pit where no one recognizes me.

Sent from my SM-G965U1 using Tapatalk

Yes. Not sure why you think that any questions would matter.

The casino can and likely would seize the chip, especially if OP told them he got it for payment of a debt.

$5,000 lesson not to accept chips for payment.

I'll give you five bucks for it

It's cute that you think this would work.

Well maybe my level of play is taken into account. But I have done this multiple time in the past 2 years.

It's cute the big brother and conspiracy theories here...

If you are a known high roller at the property, dropping a $5K chip on the table won't attract the same attention that a random doing the same would. It's not hard to understand the difference.

Sent from my SM-G965U1 using Tapatalk

The obvious answer is to go to another cook out, make another bet with someone there and if you lose, pay him with the 5k chip.

I like it!

And we have the winning answer. Awesome idea.

Or you could take an Uber trip and pay him with the chip and get change .

If only there was a way to get around all this and bet with regulated bookmakers.

LOL WHY do people continually put themselves in these situations ie betting with some rando you've never met, loaning money to people you dont even know and expecting to get paid back, etc. Are people really this stupid?

That's great. Good luck with that.

I'd sit down at a high limit blackjack table on a busy night with $5,200 and play for at least an hour. Bring a basic strategy card with you. Don't cash out and come back some other night to cash out.

Done what multiple times?

Slipped a strange $5K chip into a stack/cashout of yours because someone else who couldn't show its origin and cash it had given it to you ?

Hopefully, I misunderstood your post.

Sigh... You do love to follow me. I may have to let the front gate know about you. lol

If you live in another city outside of Vegas and a friend comes back from her trip and finds a 5k chip in the bottom of her purse.... Let's just say those have been given to a certain other gambler either heading out to Vegas later or to buy into her friends and husbands home game. Then the said friend simply cashes in in at some point on her trip.

Simple, easy, and has been allowed 5 time that this person is personally, first hand knowledge, etc...

Everybody just relax and enjoy the time we all have left.

Focus on the good news: It is looking like Covid will be going bye bye. It will be getting only the last 14 seconds of news coverage at the end of each broadcast by Feb 7th.

Unless somehow the other party can hold office.

multiple times your friends are forgetting about $5k chips in their bags?

Meh, what can I say our friends drink and gamble. Many of our fellow business owners have had some great years leading up to Covid. The economy was doing great with revenue increasing year over year.

We are looking forward to the next 3-7 year run once again. Like everyone here we are hoping is starts up in about 12-16 months.

This thread really needed a Covidiot.

there are shop/dealers around that will take your chip... at a discount.