What are Key West "live" chips?
A "live" casino chip -- also called a value chip or simply a cheque -- is one that can be redeemed for its face value in cash at the casino's cashier's cage.
The Key West Resort & Casino is not a real casino, but our company will be issuing a limited number of live casino chips which can be exchanged for cash.
Each live chip is a real casino chip that acts like a gift card or coupon. They're durable, transferable and refundable, and can be traded back to our company for cash or merchandise. You don't really "buy" live $1 chips -- you deposit $1 and we give you the chip for as long as you like. Return it, and you get your dollar back, or use it to buy something on our site.
The rules for "live" Key West chips
The Continental Card & Game Company guarantees to pay the face value of any chip it has issued as a "live" chip.
We'll establish a list of live casino chips, collect their face value when they are issued, and hold the face value in reserve until the chips are redeemed. The list of live chips issued is noted above.
The company considers these chips to be on loan to the possessor, and the face value deposit to be collateral against the actual market value of the chip. Redemption of the chip for cash is a refund of the deposit. Redemption of the chip for another Key West item is refund and a new sale.
Other Key West Resort & Casino chips not deemed "live" by our company are not redeemable for cash or merchandise.
The Continental Card & Game Company reserves the right to refuse to cash any live chip we believe to be stolen, counterfeit or too badly worn to be reissued.
The cost of delivering the chips back to our company is borne by the customer returning the chips, as are any transaction fees, such as Paypal fees. You may receive payment by check, Paypal or Key West merchandise.
Disclaimer: Our blue $1 and $2 chips may be purchased from our company for face value ($1 and $2, respectively), and returned to our company for a refund of the face value, similar to a gift card which may be refunded for cash. These chips are not legal tender, and don't purport to be. In order to comply with federal laws preventing anyone from creating or circulating a "replacement currency," we state that our face value chips have a production cost in excess of their face value, and are offered as a promotional item for our company and service to our customers.
The Key West Resort & Casino is not a real casino, and does not operate any gaming operation, on the web or elsewhere. It's a line of fine gaming equipment made by casino industry manufacturers for Continental Card & Game Co., Wilmington, Delaware. The Key West Resort & Casino logo is is a trademark of Continental Card & Game Co., and is protected by U.S. and international copyright laws. The Continental Card & Game Co. complies with the requirements of 15 USC § 1173. Click to visit Key West's Responsible Gaming page.