A tray for monitoring chips in the tray, the tray comprising: a body defining a channel for receiving the chips, the channel having a first end; a tray imaging component including a time of flight sensor positioned in the channel and mounted at the first end of the channel for emitting an initial electromagnetic signal in a direction substantially parallel to a longitudinal axis of the channel and detecting a reflected electromagnetic signal corresponding to the initial electromagnetic signal operating in conjunction with an optic sensor mounted axially to the base of the channel and mounted to a bottom of the tray, the optic sensor configured to capture image data corresponding to the side surfaces of the chips having a particular axial strip of colours, the tray imaging component configured to capture image data associated with presence of chips in the channel; one or more sensors responsive to an activation event to trigger capture of the image data by the tray imaging component; a processor coupled to the tray imaging component and the one or more sensors; and a memory coupled to the processor and storing instructions that, when executed, configure the processor to determine an amount of chips received in the tray based on a depth of the chips in the channel determined from a time difference between when the initial electromagnetic signal was emitted and when the reflected electromagnetic signal was detected, and to determine a type of the chips received in the tray based on the image data corresponding to the side surfaces of the chips; wherein the optic sensor includes a radiation emitter that is controllable to illuminate only a portion of the channel, and the optic sensor is configured to, based on the depth of the chips in the channel, illuminate only the portion of the radiation emitter corresponding to the depth of the chips such that the optic sensor not covered by the chips does not emit radiation and distract the dealer. a body defining a channel for receiving the chips, the channel having a first end; a tray imaging component including a time of flight sensor positioned in the channel and mounted at the first end of the channel for emitting an initial electromagnetic signal in a direction substantially parallel to a longitudinal axis of the channel and detecting a reflected electromagnetic signal corresponding to the initial electromagnetic signal operating in conjunction with an optic sensor mounted axially to the base of the channel and mounted to a bottom of the tray, the optic sensor configured to capture image data corresponding to the side surfaces of the chips having a particular axial strip of colours, the tray imaging component configured to capture image data associated with presence of chips in the channel; one or more sensors responsive to an activation event to trigger capture of the image data by the tray imaging component; a processor coupled to the tray imaging component and the one or more sensors; and a memory coupled to the processor and storing instructions that, when executed, configure the processor to determine an amount of chips received in the tray based on a depth of the chips in the channel determined from a time difference between when the initial electromagnetic signal was emitted and when the reflected electromagnetic signal was detected, and to determine a type of the chips received in the tray based on the image data corresponding to the side surfaces of the chips; wherein the optic sensor includes a radiation emitter that is controllable to illuminate only a portion of the channel, and the optic sensor is configured to, based on the depth of the chips in the channel, illuminate only the portion of the radiation emitter corresponding to the depth of the chips such that the optic sensor not covered by the chips does not emit radiation and distract the dealer.