The origional point of a free chip was so consumers could test out an online caisno and its software for real money without having to make a deposit.
The bonus chip say for $100, is redeemed, and they give you an amount you must bet and a max withdrawal, so you cant hit the jackpots after putting no money into the site and walk away rich.
I dont get your point though. If somsone gave you $100, adn then said go to the caisno, play slots, you gotta have $4,000 in spins, but if you win, ill let you keeo $200. Its 2 or 3 hours of fun and you can win a couple f hundred bucks for your time.
I dont get your point Jez
EDIT - Jezebela - Some casinos have no maximum cashout, a few microgaming ones for sure that i know of, info can be found in the No Deposit forums section of this site.