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

Understand Chess Categories/Events

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

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

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.

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.

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.

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

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.

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.