Casino personnel normally refer to chips as "cheques," which is of French background. In reality, there’s a difference amidst a chip and a cheque. A cheque is a chip with a value written on its face and is constantly valued at the value of the imprinted number. Chips, although, don’t have values imprinted on them and any colour can be worth any cash amount as determined by the croupier. For instance, in a poker tournament, the house might value white chips as one dollar and blue chips as $10; while, in a game of roulette, the croupier might value white chips as $0.25 and blue chips as 2 dollars. Another example, the inexpensive red, white, and blue poker chips you can get at Target for your weekend poker get together are referred to as "chips" seeing as they do not have denominations printed on them.
When you put your $$$$$ down on the craps table and hear the croupier say, "Cheque change only," he’s simply telling the box man that a new individual wishes to change money for chips (cheques), and that the $$$$$$ on the craps table is not part of the action. $$$$$$ plays in a majority of casinos, so if you place a $5 bill on the Pass Line just before the shooter tosses the dice and the dealer doesn’t change your $$$$$$ for cheques, your $$$$$ is "part of the action." When the croupier states, "Cheque change only," the boxman understands that your $$$$$ isn’t part of the action.
In reality, in live craps games, we bet with cheques, and not chips. Occasionally, a player will approach the craps table, put down a one hundred dollar cheque, and say to the dealer, "Cheque change." It’s fun to pretend to be a novice and say to the dealer, "Hey, I am new to Craps, what is a cheque?" Frequently, their wacky responses will amuse you.