Re: Crucial Bump
I doubt it would work too, but there's a crucial differnce: casino chips, whether physical or virtual, have a discernable cash value. They are, in effect, as good as cash (as long as the issuer honors them, which they are contractually obligated to do). If I understand the Pachinko example correctly, the "redemption" booth is under no legal obligation to redeem your prizes, but they will because they want people to keep gambling.
It does sound a lot like splitting hairs, and maybe it holds no legal water at all, who knows? It does remind me of the site "Second Life", that issues "Linden Dollars". The LD have no legal cash value, yet there's an exchange rate and you can exchange them for cash. The "no legal value" clause in the TOS is undoubtedly used to get around securities and gambling laws, yet you can make real money on the site. Maybe poker sites could come up with the same sort of arrangement. Or maybe not. I guess it's in the lawyers' hands now. God help us.
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