When you are uber confident on a horse that you are willing to put everything you've got on it.
This term is used in poker, when a player has put all of their chips into the pot. The player will either win the hand and play on, or lose and bow out of the game.
It is common for punters to face a chips in conundrum late in the day, after a tough day where winners have been few and far between.
"There's a $1.90 favourite running in the last at Ascot and William Pike is on board. I'm chips in."
