Ive just 'tested' the actual site that these 'ultimate' chips are for. It seems that if you win enough chips you can use them to 'buy in' to on-line poker tournaments with (small ) cash prizes or use 'ultimate cash' to buy prizes from their on-line catalog at rip-off prices. Its like trying to sell air miles to someone.

Maybe the guy got lucky winning so many and doesnt fancy trading them for 3000 tins of dog food so he tried ebaying instead.

It claims you can use 10,000,000 for example to enter a tournament with a first prize of $500. However - a tournament cant start until they have (an undisclosed number) enough people with that many points to buy in. So the tournaments probably never happen

Of course these sites earn their money from the banner ads and pop-ups and pay per clicks. Im sure they can afford $500 or a case of dog food once in a while.

Having said all this - there must be enough idiots out there to pay $200+ for the chips they could get free as you rightly pointed out!