By Andy Kowl

One casino found a way to quickly cash in on their RFID investment. They simply kept the money of customers who did not replace their chips within a six-week window!

Last year, Foxwoods Resort Casino and MGM Grand at Foxwoods, converted to RFID-tagged gaming chips. Their conversion was complete as of January 31st. The casino, owned and operated by the Mashantucket Pequot Tribal Nation, simply stopped cashing out the old chips.

Our friend "Jimmy" was taken by surprise when he brought the chips with him he had last time he was there. "I tried use 'old style chips' and they wouldn't let me use them, nor would they cash them out." Jimmy was understandably outraged.

The Connecticut casino claimed they have slowly been taking them out of circulation "for a few months," according to our pal. "But the first notices were only put up at the cages on 12/15/08. I didn't even go there for those six weeks," he complained.

Foxwoods would not comment or answer any questions for this article.

Many poker players like Jimmy keep chips in safe deposit boxes so you don't cash out more a certain amount at a time. The casinos declare all tournament wins to the IRS and give them W2G forms. But cash wins are not reported.

Why would a casino not accept back the chips they originally distributed and change them for the new RFID chips? This sure has all the looks of a scam. Easy money in a world of people chasing easy money. It is like a country declaring all your money worthless and, too bad for you, you have to start over and acquire new money.

The only clarification the casino cared to make was from Director of Public Relations Lori A. Potter, who points out, "Foxwoods is not an MGM resort. . . the Mashantucket Pequot Tribal Nation (is in) partnership with MGM strictly for branding purposes only to appeal to a younger adult demographic. MGM does not manage MGM Grand at Foxwoods."

We'll give Jimmy the last word. "I bet there are millions of the old style chips on people's dressers, in safe deposit boxes, etc. I had always assumed a chip as good as cash, so long as the casino was still there."