Non-negotiable chips are like regular casino chips but with one major exception. Namely, they are often used for promotions and cannot be exchanged for real money like regular chips.
Brick-and-mortar casinos sometimes reward their most loyal players or those who have been playing for a while with non-negotiable chips. The chips can then be used for betting in a game of baccarat, for example. The exact rules about how you can use the chips vary from one casino to another, so you should check with the staff what you can do with your NN chips and what types of games you can play with them.
In some cases, players can purchase non-negotiable chips. NN chips always have the exact same face value as real money. For example, to buy a $10,000 non-negotiable chip, you have to pay $10,000. The chip’s value is non-negotiable and always the same, which explains how the chip got its name.