How To Bet On Chess - Guide to The Best Bets, Odds and Betting Markets Cover

How To Bet On Chess - Guide to The Best Bets, Odds and Betting Markets

by Oddspedia Experts
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Placing bets on popular chess events, like the World Chess Championship and Sinquefield Cup requires a profound understanding of the game. Thankfully, with our manual on how to bet on chess, you should be conversant with the process of placing single and accumulator chess bets. You'll also understand how top chess markets work and common mistakes you should avoid when gambling on the sport.

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How Betting on Chess Works

Chess is an abstract strategy game that involves two players called black and white. Each player controls an army of chess pieces with the primary objective of checkmating the opponent's king. Usually, bookies source betting matches from major chess events such as the World Chess Championship. Your task is to pick an event and go through the markets, such as Outright Winner, Draw, and Total Moves.

You then finish up the process by comparing the odds and predicting the outcome. However, you must do adequate research to increase your chances of placing winning bets. For the best outcome, use Oddspedia odds comparison tools and even join our betting community, where you will find like-minded individuals discussing the sport.

Understand Chess Categories/Events

Chess comprises several tournaments categorised into men, women, and youth. Some of the main competitions include:

These events outrank the rest because of the calibre of players, prestige, and the prize money involved. But then, you can also bet on the Candidates Tournament events. Here, the top 8 chess players compete for a chance to dethrone the current World Chess Champion.

Understanding popular chess bets is the first step you need to take before engaging in any online chess betting activities. Betting sites will provide you with hundreds of options that you can use to place single and acca bets. Here is a detailed list of the top chess betting markets you should expect.

Outright Betting - Match Winner

Outright betting is one of the most common chess betting markets. The option entails predicting the winner of a particular chess tournament. Outright markets often bear high odds, especially if you make your prediction before the chess competition begins.

With the Outright bet type, you can predict Ding Liren with odds of (1/1) to win the final Chess World Championship game against Ian Nepomniachtchi.

Draw

Betting on a Draw is ideal if you feel that none of the players will win the match. This market is usually listed alongside the Match Winner option. For instance, you can state that a Chess World Cup event between Fabiano Caruana (17/20) and Nijat Abasov (4/5) will end in a draw. This means none of the players will be crowned winners.

Total Moves

The total moves market allows you to predict the number of moves a particular player will make throughout the game. But then, you will not be required to predict the exact number. Instead, you will state whether the moves will be Over/Under a specific number.

Take an example of a Grand Chess Tour Game between Alireza Firouzja and Ivan Saric. Using the market, you can predict Saric's total moves will be under 150.00.

Player Performances

Player performance ratings are a decent betting option. You can use it to bet on the level a player performs in an upcoming chess match or a tournament. The rating can range from 1200 to 2200 or higher. Using this market, you can bet on Magnus Carlsen to get a rating of over 2300 in a TATA Steel Masters tournament.

Special Bets

Special bets or prop bets are chess bet types that allow you to predict events that will not influence the game's outcome. These markets make chess betting flexible and exciting, with some of the main options being:

  • The Player opens the game with a Queen's Gambit
  • The number of minutes the game will last

Live Betting on Chess Matches - How Does It Work?

In-play or live betting involves predicting the outcome of ongoing chess games. It covers different markets, including Draws and Totals. But then, unlike pre-match games, the status of live markets keeps fluctuating as the game continues.

Note that you can only bet on the open markets and not closed options. Also, the odds are dynamic. This means they keep changing as the game continues.
Some sportsbooks have features such as cash-out to use when placing live bets. With such functions, you can withdraw your stake from the event as the game progresses. Generally, live betting is exciting despite having only a few betting options.

How To Bet On Chess: Step-By-Step Guide

Placing sports bets such as Outright Winner or Draw is a simple process that will take only a few minutes. First, identify the best chess betting site and, after that, apply these steps:

  • Sign up for an account and make a deposit
  • Choose your preferred competition from the available chess tournaments
  • Open chess matches and select the ideal chess events
  • Compare the chess odds
  • Add your desired selection on the bet slip
  • Stake some cash
  • Submit your chess bet slip and wait for the results

How To Start Betting?

Everything You Need To Know In 5 Easy Steps!

How To Start Betting?
Pick A Highly Rated Bookie

Find the right bookmaker for you and sign up.

Fund Your Account

Make a deposit with the payment method you prefer. Consider responsible gambling features and bankroll management.

Claim Your Bonus

Many betting sites have a welcome bonus or free bet, which you can claim after making the first deposit. *never forget to read the small print!

Choose An Event To Bet On

Find an event you are interested in, select a betting market that appeals to you the most and "click" on the odds.

Start Betting

Go to the bet slip and input the details of your desired bet and confirm the wager.

Chess Betting Tips And Strategies

There is no surefire way to place correct chess bets. However, using these chess betting tips and strategies, you can increase your chances of placing winning bets. Some of the best chess betting tips you should try include:

Know the Players

Chess is an abstract strategy game that does not require any form of luck for players to win. Understanding players, their thinking, and gaming strategies is one of the best ways to make winning bets. Take your time to study players and, if possible, stream their games to better understand them before placing bets.

Analyse Past Games

Doing in-depth and extensive research is mandatory when placing chess bets. Make sure you go through the statistics of the player's past five games. You can also do a head-to-head comparison between the two players' statistics to find out who has the upper hand.

Odds Comparison - Get The Best Chess Betting Odds

Compare chess betting odds of different bookies until you find the betting site with the best odds. Feel free to use the Oddspedia odds comparison tool to your advantage. We offer our customers thousands of quality chess odds for different markets.

Follow Chess Tipsters and Take Advantage Of Their Expert Predictions

At Oddspedia, we partner with the best chess forecasters in the market. Every tipster is experienced with a fantastic track record in different chess markets and tournaments. You can also join our community for free and interact with like-minded bettors. With the information, you can increase your chances of placing winning bets.

Take The Small Wins And Profits

It is vital to start small if you are a novice player. This will cushion you against some risks. Also, making small wins regularly can easily translate into a big win. This is much better than waiting for a massive win that might never come.

Select The Best Chess Bookmakers

Only go for the best online chess betting sites. Confirm that the sportsbook holds a valid licence from a renowned regulatory body like the UK Gambling Commission. Also, make sure the bookie has extensive chess coverage.

Early Moves

A player's first move can hint at how the match will likely unfold. When betting on chess games, take note of the opening move and its strength. Note that some moves can help activate two pieces on the board and control the centre.

Plan Ahead

Planning ahead is the best chess betting strategy to avoid making unnecessary mistakes. Decide which game to bet on, develop the stake, and do adequate research. Making hasty bets can easily lead to massive losses.

Make Use of Bonuses and Promotions?

Use chess bonuses and promotions to place more chess bets while spending less. However, go through the bonus terms to ensure their suitability before claiming. We have an ever-updated list of fantastic bonuses you can use as free bet stakes from top chess betting sites. Go through the list and select your desired promotions.

  • 200% Deposit Bonus up to $3,000
    Claim bonus
    Exclusive

    Max bet is set to 1% of the deposit value when claiming a promo. 18+ T&Cs apply.

  • Up To $30 Bet Credits
    Claim bonus

    18+ T&Cs apply.

  • 100% Welcome Bonus up to $122
    No code required Claim bonus

    18+ T&Cs apply.

Most Common Chess Betting Mistakes

Sometimes, the only thing standing between you and a winning bet is a common chess betting mistake. We have detailed some of the most common chess blunders and how to avoid them.

Overlooking Opening Moves

Not paying attention to the first move is an error most novice bettors make. This usually keeps them from correctly identifying the player that will dominate the game and may cost you your stake.

Neglecting Past Performances

Past performances are crucial since they help you identify the strengths and weaknesses of a player. With these statistics, you can also tell the chess player who is in great form mentally. So, review the gamers extensively before placing a bet.

Mismanaging Your Bankroll - Not Setting Budget Limits

You don't want to spend more money than you can afford. To avoid overspending, manage your bankroll by setting budget limits. Other chess betting sites allow you to set betting limits.

Betting on Your Favourite Player

Betting on your favourite player is a rookie mistake that will cost you much money in the long run. Bet on a player based on verified data and statistics to avoid disappointments. This calls for in-depth research.

Disregarding Tournament Factors

Tournament factors such as maximum group size, average rating of all players in the tournament, and projected number of rounds are crucial. These factors can help you determine how many points a player will likely get in a tournament.

Ignoring Time Controls

Never ignore the time controls of chess tournaments. For all World Chess Federation events, the time control is 90 minutes for the first 40 moves. After that, players have 30 minutes catered to sudden death. This is where you have a fixed amount of time to conclude the chess game, irrespective of the number of moves made. Understanding time controls will help you place winning bets based on the tournament.

Overlooking Odds and Risks

Odds can help you quickly identify the weak players even before you begin researching. On the other hand, risks will help you know the safest bets to place. Make sure you go through the odds and confirm the risks involved before placing a bet.

Impulsive Betting

The best way to avoid unnecessary losses is to make informed bets. Take your time to do research before adding your selection on the bet slip. If possible, compare the chess players and determine what makes the tournament different from the rest.

Chess Betting Options FAQ

⚖️ Is betting on Chess legal?

Yes, betting on chess is legal. You can lawfully bet on different chess matches at the best betting sites. Just ensure the online bookmaker also holds a valid licence from a recognized body.

♟️ Can I bet on any chess game?

Yes, you can bet on any chess game. These include events from major tournaments like the World Chess Championship to little-known chess competitions. Just make sure the games are available for betting.

Where to find the best Chess betting odds?

You can find the best chess betting odds at Oddspedia. Our experts compare odds from hundreds of sportsbooks and avail the best odds for you to use. We also have quality odds for other sports like football and basketball.

Can I bet on chess champions?

Yes, you can bet on chess champions. Using the futures bet called Outright Winner, you can bet on the player likely to win the tournament.

What are the best Chess betting sites for UK bettors?

The best betting site for placing chess bets in the UK is Bet365. Bet365 has the best chess coverage, quality odds, and a full range of markets. Besides, it has fantastic sportsbook bonus offers with simple terms. Other betting sites worth considering include:

  • BetUK
  • Bwin
  • All British Casino

💵 Can I win a lot of money betting on chess?

Yes, you can win a lot of money betting on chess. One of the best ways to do this is to opt for markets with the highest odds, such as Outright Winner. You can also place accumulator bets.

Which is the best bookmaker for the World Chess Championship?

Bet365 is the best bookmaker for the World Chess Championship. The bookie has a decent tournament coverage with a full range of markets. Also, all events come with statistics that you can use for research.

How do odds work?

Odds are the fractions attached to every chess market depending on their probability of occurring. Markets with the highest probability of occurring get lower odds, while those less likely to occur get high odds. Also, operators use odds to calculate your expected winnings on the event by multiplying their values with your stake.

What are the most popular Chess betting markets?

Outright Winner is the most popular chess betting market. The betting option comes with high odds and is easy to understand, even for new bettors. Other popular markets include Draw and Total Moves.

🔒 Is online chess betting safe?

Odds are the fractions attached to every chess market depending on their probability of occurring. Markets with the highest probability of occurring get lower odds, while those less likely to occur get high odds. Also, operators use odds to calculate your expected winnings on the event by multiplying their values with your stake.

♟️ Can I bet on any chess tournament?

Yes, you can bet on any chess tournament so long as it is included in the sportsbook. Many chess betting sites cover a wide range of tournaments, including:

  • World Chess Championship
  • Candidates Tournaments
  • Grand Tour
  • The Olympiad
  • FIDE World Cup

🌐 Which countries are the traditional chess powerhouses?

Some of the countries that are traditional chess powerhouses with brilliant chess players include:

  • Russia
  • China
  • United States

Russia, China, and the United States have produced players with high rankings, such as Vladimir Kramnik, Ding Liren, and Wesley So.

🎦 Is the Queen's Gambit TV Show accurate with strategies?

Yes, the Queen's Gambit TV show has accurate strategies. In fact, the show contains multiple real-life instances lived by some of the renowned chess players.

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This article was written by our team of betting experts, any contributing references are noted below.
Last updated 05/10/2023
References
  1. Chess. (2023, September 14). In Wikipedia. https://en.wikipedia.org/wiki/Chess
  2. How to Play Chess: 7 Rules To Get You Started. (2022, November 28). Chess.com, https://www.chess.com/learn-how-to-play-chess
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