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The tournament director or dealer will announce that a chip race will take place. The specific procedure and timing can vary depending on the tournament structure and rules.
Determine the number of chips to be raced: The tournament director determines how many chips each player will receive in the race. Typically, the number of chips a player receives is determined by the number of smaller chips they possess. For example, if the lower denomination chip is $25, players may receive one higher denomination chip for every four $25 chips they possess.
Race off the chips: The dealer collects the lower denomination chips from the players at each table. They then count the chips and exchange them for higher denomination chips based on the predetermined conversion rate. This process continues until all the lower denomination chips are exchanged.
Determine the number of chips to be raced: The tournament director determines how many chips each player will receive in the race. Typically, the number of chips a player receives is determined by the number of smaller chips they possess. For example, if the lower denomination chip is $25, players may receive one higher denomination chip for every four $25 chips they possess.
Race off the chips: The dealer collects the lower denomination chips from the players at each table. They then count the chips and exchange them for higher denomination chips based on the predetermined conversion rate. This process continues until all the lower denomination chips are exchanged.