Chip v. t. [imp. & p. p. Chipped p. pr. & vb. n. Chipping.]
1. To cut small pieces from; to diminish or reduce to shape, by cutting away a little at a time; to hew.
2. To break or crack, or crack off a portion of, as of an eggshell in hatching, or a piece of crockery.
3. To bet, as with chips in the game of poker.
To chip in, to contribute, as to a fund; to share in the risks or expenses of. [Slang. U. S.]