Definition of Chip and a Chair

What does the term "chip and a chair" mean when it comes to the world of poker? What is meant by a "chip and a chair"?

The term "chip and a chair" refers to the idea that as long as you have at least one chip left in your stack in a poker game, you are still alive and have the possibility to win.

The term originated when Jack Straus believed that he had lost all of his chips in the 1982 World Series of Poker main event. Instead, Straus was informed that he had a single $500 chip left to play.

Straus would quickly double up and eventually go on to win the main event, thereby solidifying his legend and establishing the term "chip and a chair" in the poker lexicon.

As long as you have at least a single chip, you are still part of the game (and have a chair) and can potentially win.

This is what the term "chip and a chair" means.

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