Gamblers at a Las Vegas casino will be able to buy a US$10 million (£6.7 million) chip for use at its tables.

The city's gaming commission has given the go-ahead for what is thought to be the most valuable chip in gambling history.

The Aladdin Resort and Casino proposed the chip, or plaque as they are officially known, so wealthy chancers can risk everything without walking around with bulging pockets.

Aladdin president Bill Timmins said the chip, the only one of is kind, looks dull considering its value: "It's a big black gaming plaque, six or seven inches long by four inches wide," reports The Straits Times.

"If this is given to somebody, we're going to know the name of that person, that's for sure."

A spokesman for the Nevada Gaming Control Board said: "Everybody's looking for a gimmick. But I've never seen any denomination that high."