Begin with a 500 pixel circle (as that's the largest size PSP will allow for a tube). Copy and paste your circle to a new document to make sure it is in the center.

Open a new 500 pixel square image with transparent background. Turn on the grid lines and the snap to grid -- then open the paintbrush tool, using a color slightly darker than the color for the circle. Create a new raster layer and draw a line (size - 1) (hardness, thickness, density, opacity - 100) (Blend Mode - Normal) from the top of the circle to the bottom. Do the same from left to right. (see below)

Make sure you are on the layer of the lines you just created and copy. Then use Ctrl-L, which will paste what you copied right on top of the existing lines. Use the rotate tool (Ctrl-R) and rotate the new layer 1 degree to the left. Use the copy tool (which will copy this new layer) and (Ctrl-L) paste as a new layer and rotate 1 degree again. Repeat this until you have 5 layers of lines - then merge visible.

Copy this merged layer and paste to a new layer and rotate 5 degees, then merge visible again. Then copy this merged layer of tens and paste to a new layer and rotate 10 degrees. Repeat this seven times until you have the completed circle.

With the selection tool, select a circle in the middle of the the merged lines and cut out the center of the image. Open the "Effects > 3D Effects > Inner Bevel" tool and use the settings shown below (or experiment for what looks best to you). This will give the lines some depth when added to the circle. (see image at left)

Copy the circle of lines image and paste it onto the circle image created at the beginning. The image should still be 500 pixels. Merge visible. (see right)

Select a 500 pixel circle around the entire graphic and invert the selection so that it is selecting the background. Delete to get rid of any stray pieces outside the circle.

Then invert so the selection is around the circle again and use the "Selections > Modify > Contract" (I used two pixels) and use the Manual Color Correction or the Colorize tool to make the very edges a slight bit darker than the center (while keeping the ridges - this is for effect later, when using the tube.)

Select the area of the newly created poker chip inside the ridges and apply an Inner Bevel (suggestion shown at left) to create the outer edge of an indentation.

Leave the "selection circle" and use "Selections > Modify > Contract" (I used 20 pixels)

Then reopen the Inner Bevel, changing the bevel graphic, the Width, and the Angle. These steps will create the indentation between the outer ridges and the center of the chip.

To add interest to this example, I added a preset shape star in a slightly different color and applied the same inner bevel used last.

The image should be on one layer with a transparent background - "merge visible layers" keeps the background transparent). It should be 500 pixels round. Save it as a picture tube ("File > Export > Picture Tube") using the settings shown.

Open a new document and select your new poker chip. Instead of simply stamping it, “draw” with it carefully in the direction you want to leave the ridge.

Experiment with the “Effects > Geometric Effects > Perspective-Horizontal” - in the example below I used -60 Distortion (Transparent Edge Mode), selected “OK” - then repeated using 60 Distortion.  After this, use the Raster Deform Tool for dimension -experiment!

This was all created using Paint Shop Pro.