Casino employees usually refer to chips as "cheques," being of French origin. Technically, there is a difference between a chip and a cheque. A cheque is a chip with a value printed on its face and is constantly worth the amount of the imprinted amount. Chips, although, do not have denominations printed on them and any color can be worth any cash amount as determined by the croupier. For instance, in a poker tournament, the casino might value white chips as one dollar and blue chips as ten dollars; whereas, in a game of roulette, the house may define white chips as $0.25 and blue chips as $2. An additional instance, the cheap red, white, and blue poker chips you can get at the department store for your weekend poker game are known as "chips" due to the fact that they don’t have denominations printed on them.
When you put your money down on the table and hear the croupier say, "Cheque change only," he’s basically telling the boxman that a new individual wants to trade $$$$$ for chips (cheques), and that the cash on the craps table is not part of the action. money plays in most casinos, so if you place a 5 dollar bill on the Pass Line just prior to the shooter throwing the bones and the dealer does not change your $$$$$ for cheques, your money is "part of the action." When the croupier states, "Cheque change only," the boxman understands that your money is not part of the action.
In reality, in land based craps rounds, we gamble with cheques, and not chips. Ever so often, a player will walk up to the the table, drop a $100 cheque, and say to the croupier, "Cheque change." It’s entertaining to act like a beginner and say to the dealer, "Hey, I am new to this game, what is a cheque?" Most of the time, their wacky answers will amuse you.
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