Chess Odds and Betting Lines

Chess betting might seem like a niche interest, but for players who enjoy wagering on that complex sport, chess odds are extremely important. Chess betting odds determine the amount you can win from your wager but also can tell you a lot about the game. In this guide we discuss things you need to know about chess odds and how to use Oddspedia to your advantage.

The Basics of Chess Odds and Bets

When sportsbooks add chess betting lines they set the odds for the different outcomes. Learning how to read chess odds is an important step to becoming a successful gambler. The chess odds determine the amount you can potentially win from betting on the game and will also hint you towards what the oddsmakers think the outcome will be. American odds, fractional odds and decimal odds are the three main types of chess odds, that are used to display the probability of an outcome. They look different but basically represent the same think. Most Canadian and European sportsbooks use decimal odds and US chess betting sites use American odds. You can always change the way odds are presented in the settings menu.   

Important things to consider when Betting on Chess in Canada

Chess betting’s been legal in Canada for almost 40 years now but a ban on single-game wagers had it limited to parlay betting and through the provincial lotteries only. In June 2021 the Safe and Regulated Sports Betting Act was passed, allowing provinces to regulate single-game online sports betting. With the provincial governments being given the power to set their own rules for sports betting, regulators have started approving sportsbooks that had been operating in the grey market.

Ontario was the first to open up to international sportsbooks and there are more than 26 approved sportsbooks operating there. Also the legal age for sports betting in Ontario is 19. Other provinces were quick to follow and online chess betting is legal in most parts of Canada. You can legally use online esports betting sites in British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Prince Edward Island, Quebec and Alberta. Nunavut, Saskatchewan, Northwest Territories and Yukon legalized single-event wagering, but at retail outlets only. This leaves residents there with offshore chess betting sites as their best alternative.

Types of bets you can find

Unlike most other sports, a game of chess can't offer many different betting markets and the variety of bets you can make is very limited. There are, however, great opportunities, especially if you have deep knowledge of the game. Oddsmakers tend to overreact to the engine evaluation of the game and chess odds for live games can easily jump. Let's take a look now at the different types of chess bets you can find.

Moneyline

There are 3 possible outcomes of a game of chess - win, lose or tie. You predict on either player to win or the game to end in a draw. Every sportsbook that covers chess events and chess tournaments will have chess moneyline markets.

Spreads

With this type of chess handicap bet you predict that the player will at the very least escape a complete loss. If the match ends in a tie, you’ll be repaid your initial wager rather than winning your bet.

Outrights

A very popular way of online chess betting is wagering on who will win the tournament. For a chess outright bet to pay out, the player you have bet on must win the tournament. Chess outright betting markets offer better odds than moneyline.

How to use Chess data on Oddspedia to increase your chances of success

Oddspedia provides you with valuable information that will help you make better chess predictions but also increase your winnings from chess bets. Only a small portion of players make it to become successful sports bettors and every little advantage will help will help you become one. There are many benefits to using Oddspedia and the odds comparison the platform provides is just one of them.

Compare odds for higher bet payouts

Oddspedia draws and compares chess odds from more than 80 credible chess sportsbooks. The platform then presents you with the one sportsbook that offers the best chess odds. This unique feature lets you always place bets on the highest chess odds available and guarantees the best returns on your winning bets. When thinking in the long-term, even the smallest difference in your bet payouts means a lot of money. And because the odds are refreshed in real-time, Oddspedia is always able to show the best possible odds in any given moment.

Get the best Chess lines and odds for Today

There are plenty of chess leagues and tournaments and Oddspedia provides you with the schedules of all of them. It has never been easier to see all of the chess games that are to be played and you can always check what chess matches are going to be played today. The odds provided by Oddspedia are refreshed in real-time, meaning you are always shown the highest chess odds in any given moment. Even if the game you are interested in is just about to start, Oddspedia will provide you with the sportsbook that is offering the best chess odds at that moment.

Track betting lines movement

Depending on how other players are wagering, odds start shifting from the moment sportsbooks open the chess betting lines. On Oddspedia you will find detailed graphs that follows the betting lines movements for each game. What this powerful tool allows you is to track  the chess betting lines movement. You will khow how the odds have been changing and how other players are betting on the games you are interested in.

Utilize Betting Stats

When betting on chess you want to use statistical analysis to your benefit. Oddsmakers always use chess statistics when they set the odds, often through their own databases which contain lots of different chess stats. To make better predictions, you have to identify factors that have a strong correlation to winning and are not necessarily apparent to the other players. To help you and save you time, Oddspedia provides you with relevant betting statistics for chess leagues and tournaments, and stats for the competing grandmasters.

Find the Best Chess Sportsbooks

There are many sportsbooks available to the Canadian player, but not all of them offer chess bets. Choosing the best CA sportsbook is a serious task even after removing those, who do not offer chess betting markets.

To help you with your choice, Oddspedia has prepared for you profesional reviews on all the legitimate chess betting sites available in Canada. The sportsbooks are then rated and you can view them sorted by criteria that are most important to you. This way, for example, you can find the sportsbook that is offering the best chess bonuses and promotions. Oddspedia will also often have chess bonus codes for different sportsbooks and sports betting apps that you can use to further increase your profits. In the list below is just some of the sportsbooks you can learn a lot about on Oddspedia.

 Many players make the mistake of staying on the same website that they registered on when they first started betting on chess, even though others might be offering much better service. Odds comparison will help you find the best sportsbook for you where you will be winning the highest payout from your chess bets.

Additionally, Oddspedia offers a dedicated section where you can easily compare chess odds and links to sportsbook bonuses for bettors from Canada. We have also created a special section with Ontario betting sites and reliable Ontario sports betting apps. Below we have prepared for you the best 5 bookmakers for chess betting in Canada:

FAQ

What are moneylines?

A moneyline bet is wager where you predict what the outcome of the game will be. There are 3 possible outcomes of a chess game – win, lose or tie. You bet on draw or on the grandmaster you think is going to win the game.

Which are the best Chess markets to bet on?

The most popular chess betting market is for the winner of the game. The best way to bet on chess is to find a sportsbook that offers live chess betting and use your superior knowledge of the game to grab higher odds. Chess markets that also draw big attention are future bets.

Are there Chess markets I should avoid?

You should avoid adding too many wagers to your parlay bet. Chess parlays are great fun and offer a chance to win big at once, but adding too many increases the risk of losing exponentially. If you are confident in your predictions, stick to single bets.

What does +200 moneyline mean?

If you are using American odds, you will often see betting lines that look like this. The positive (+) sign means that this grandmaster is the underdog and the oddsmakers don't expect him to win. A +200 money line means that if you placed a $100 bet, you would win $200.

Which bookie has the best odds for Chess?

You will always know which sportsbook has the best chess odds if you are using Oddspedia. The platform instantly shows you the highest possible odds for any given chess game while also doing so in real-time.

How does Oddspedia's odds comparison work?

Oddspedia compares the chess odds from more than 80 reliable sportsbooks. For every available chess game, Oddspedia will present you with the best odds and the sportsbook on which you can get them. It does so instantly and in real-time, meaning you will be always shown the best possible odds for each and every chess game.

Is there a betting strategy I can use for betting on Chess?

Yes. There are many chess betting strategies available, that you can try. There are articles you will find on Oddspedia, explaining in depth the different betting strategies, with their pros and cons.

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