The One Chip Rule - I Stand Corrected!

Thank you to Rick for researching this topic for us today and confirming the rule as follows....

over-sized chip rule (n phrase) The rule, enforced in many cardrooms, that, when responding to action, a player puts into the pot a single chip or bill with a denomination larger than the bet indicated at that juncture, but does not announce a raise, that player's action is ruled to have been only a call. The over-sized chip or bill rule also applies when more than one chip is necessary to call a bet, but the last chip might be construed as a raise. The preceding applies to all rounds in limit games. In no-limit games, on the first round, the opening bet made with an over-sized chip or bill on the first round is considered a call of the bring-in amount; on any succeeding round, the first bet is equal to the size of over-sized chip or bill, unless an announcement to the contrary is made. In stud games a single oversized chip or bill does not automatically complete a forced bring-in bet unless it is verbally declared to do so. Two examples clarify this rule. Also known as one-chip rule. Examples: (1) The main chips in a $20-limit hold 'em game are $5 chips. John has just exchanged a rack of $5 chips for five $100 chips, and has only four $5 chips left. He loses these on the next hand, leaving him only those $100 chips. On the next hand, Susie limps for $20. John throws in one of his $100 chips. Unless John says "I raise," or words to that effect," by the over-sized chip rule, he has only called, and the house dealer would give John $80 change. There might be some raising. Say the betting is capped, perhaps at five bets. On the flop, Susie bets $20. John throws in another of his $100 bets. This is understood to be only a call. (2) In a no-limit game, the same happens. On the first round of betting of the hand in question, again Susie limps for $20. John throws in one of his $100 chips. Again, by the over-sized chip rule, he has only called. Now, Bill announces a raise of $80. Susie folds and John calls the raise the $80 in change the house dealer initially gave him for the $100 chip. On the flop, John is first to bet. He tosses in a $100 chip. This being a no-limit game, his bet is understood to be $100.

Thanks again Rick and I apologize for my error!