Definition of chip

• v. t. - To cut small pieces from; to diminish or reduce to shape, by cutting away a little at a time; to hew.
• v. t. - To break or crack, or crack off a portion of, as of an eggshell in hatching, or a piece of crockery.
• v. t. - To bet, as with chips in the game of poker.
• v. i. - To break or fly off in small pieces.
• n. - A piece of wood, stone, or other substance, separated by an ax, chisel, or cutting instrument.
• n. - A fragment or piece broken off; a small piece.
• n. - Wood or Cuban palm leaf split into slips, or straw plaited in a special manner, for making hats or bonnets.
• n. - Anything dried up, withered, or without flavor; -- used contemptuously.
• n. - One of the counters used in poker and other games.
• n. - The triangular piece of wood attached to the log line.