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Chips are used in poker to represent a monetary value. If playing in a live cash game, individual chips would hold an individual monetary value, much live money does. Money would simply be exchanged for chips prior to play and in live cash games are interchangeable back into money.
The reason that chips are in use is that they are more convenient than currency and make theft and counterfeiting more difficult. With all players using the same size chips it is also much easier to count a players stack and certainly looks more uniform (neat).
In poker tournaments, a player would pay a set amount for a set number of chips. Each chip in play would not carry an individual value (although this could easily be worked out). A winner is realized when he/she wins all the chips in play and similarly a player is eliminated when they run out of chips (unless it is a re-buy tournament).
When playing on line the same principle applies but a player would be using virtual chips. New player often find it difficult to respect that fact that although virtual, the chips still have the same monetary value.
It is sometimes easy to forget that you are playing with real money. After all you don't have to go to the ATM and lift money, you don't have the time to contemplate in a journey to a Casino or poker room - there are many differences. The fact that you can be logged into your computer in a matter of minutes, have deposited your funds and be playing in a few more should not mean that you should respect your stack any less.
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Online Play and Chips
