What is a ‘Sticky Chip’?
A sticky chip is a special chip offered by some casinos which can be wagered at table games but may not itself be exchanged for cash. If it is used on a table game, any winnings gained by the player may then be exchanged for cash as normal. In this way, it is a sort of voucher or token for the casino. They are usually given as part of trips and junkets to players, or as compensation.
Unlike a tournament token, a sticky chip can usually be used at a variety of table games, usually those where the player is betting against the house, such as roulette or blackjack.
‘Sticky Chip’ Explained
Sticky chips usually refers to physical chips in bricks and mortar casinos, although very similar virtual products are used by online casinos. Since online casinos often offer large bonuses on deposits and new registrations instead of comps offered by real world casinos, online forms of ‘sticky chips’ prevent players from simply cashing out their bonus. Instead, the chips can be used to bet in a variety of games, with the player getting to keep their winnings after the wagering requirements have been met.
It is possible to calculate the effective value of a sticky chip simply by deducting two times the house edge of the game it is spent on. Thus, if a blackjack game has a house edge of 0.5%, a sticky chip worth $50 will be worth $49. If a player is not intending to use the sticky chip to play their preferred game, it makes sense to seek out the games with the lowest house edge to ensure as much of it can be converted to cash as possible. However, in online casinos, due to wagering limits, games with a low house edge such as Blackjack will often not count towards these restrictions.