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.