Unable to show win, $5,000 casino chip confiscated
World Series of Poker media organizer Nolan Dalla found out the hard way that the burden of proof is on him when it comes to cashing in high-denomination casino chips.
Friday's Las Vegas Sun mentions he was given a $5,000 MGM Grand casino chip as payment for a debt.
When he attempted to cash it in at the cage, the cashier asked him to show how he had legitimately obtained it. And receiving it from a third-party isn't enough.
Because of theft and counterfeit concerns, they confiscated the chip and Dalla is out $5,000.
And the casinos that do so are within Nevada law, which allows confiscation if the bearer is unable to prove he bought or won the chip.
For high-limit poker players and gamblers who prefer to trade casino currency via the convenience of chips instead of a stack of $100 bills, it might be best to cash in before you leave the casino.
