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Originally Posted by Didace
It is not obvious at all that it means another casino. Generally, anyone means anyone. If they meant another licensee, they would have said that. It is clear if you read the regulation where it goes in depth about the restrictions on using/redeeming other casino's chips.
That could be interpreted as well and it could likely mean that. Wording in law is subject to interpretation until there is a need for a definitive interpretation by a court.
The thing is though once the casino issues the chips then they owe a debt to the person holding the chips. That is stated in the same sentence you posted.
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which evidence a debt owed to their custodian by the licensee
So if the chips are not in play, which I am sure there is a legal definition of, then they are obligated to honor their debt to the person holding the chips. So if there is a legal definition of what is and isn't a bet then that would determine how this all shakes out.
If someone jokingly yells "all in" but never puts a chip in the middle are they obligated to put those chips in the pot? Common believe is yes but I do not believe that is the case from previous discussions on this forum. I could be wrong though.