Is there betting in chess? First steps and how to!

betting in chess

The chess game that we all know and love is born out of the Indian game chaturanga which dates back to the 600s AD. This game quickly spread across the world, coming to Europe when it evolved into what we know it today in the 16th century. But is there betting in chess?
Throughout the years, chess has managed to attract quite a bit of attention, and it is now played as a global game by professional players that have specific chess tournaments.
Since chess is now a game that everyone knows and is played professionally, does this mean that you can bet on chess games?
You certainly can. Although betting in chess is not as common as many big sporting events, for example, famous bookmaker Bovada does not have chess events yet.
However, there is a small-dedicated community behind this tense and strategic contest that opens up many betting opportunities.
Can you imagine watching a chess contest where you can wager a little money on the outcome? – It will intensify the nail-biting excitement even more.

Betting in Chess Online

With the rise in popularity of online betting, bookmakers started to extend their offerings by including multiple sports to bet on. Some of the online bookmakers decided to include chess betting as an option, and as the sport increases in popularity, more and more bookies include it in their offerings.
When it comes to betting on chess online, it can be as tense and competitive as other major sports, especially if you are in love with this mind game. These masters of the game that play in top-tier tournaments have complex strategies and skills that will result in many turnovers in a game.

Chess Betting Markets

As we mentioned before, chess has a rather small but enthusiastic community, and for that reason, you cannot find a great deal of betting markets. This means that you cannot expect to go to your local bookmaker and expect to find chess betting options.

Additionally, the wagers are not as complicated as other major sporting events, and you cannot make a system or complex bets on the outcome.

But don’t let this discourage you. Betting in chess is still a great deal of fun, and it is a unique way of elevating your enjoyment levels of this incredible mind sport.
With that said, there are a few bets you can make on chess matches, such as:

Outright Winner

The most common chess bets are based on choosing the winner of a specific competition. This in the betting world is known as an outright winner. So, once you see a tournament in chess, and you have analyzed all the participants, you can make a bet on the winner.

For an outright bet to pay out, the player that you’ve put some money on must win the tournament, which is structured in a couple of knockout competitions.

Match Winner

This is the most standard bet in all competitions. Some sportsbooks offer betting on individual matches within a chess tournament, where you can place money on the winner.

Even though this is the most straightforward bet that the sportsbook offer, it is not the most popular option, just because betting on the Outright Winner usually gives you higher odds.

Chess, like other competitions, has 3 outcomes to a match – Win, Lose or Draw.
So, sportsbooks that offer betting in chess on individual matches will give you an option to bet on each of these outcomes. The win and lose odds depend on the player's skills, previous competitions, and match history.

The draw bet usually offers the biggest odds in chess betting just because such an outcome is less likely to happen in the world of chess. A draw in chess means that neither player wins or loses and the game ends in a tie.

In order to end the game in a tie, some of the players must ask for a draw, and if the other player agrees, the match has no winner. Even though draws are less likely to happen in normal matches, they are actually quite common with higher-rated players that play on the same level.

Biggest Chess Betting Events

Chess is a game that is played all around the world, but not every chess tournament is included in the bookmakers’ offerings. There are a few chess betting events that stand out, such as:

Chess World Championship

The Chess World Championship usually takes place in September or October every 2 years, and it is considered the most anticipated tournament on the planet.

Even though this championship is open to all, there are separate tournaments for Women’s World Chess players and Junior Chess championship events.
Winning the Chess World Championship is worth more than $1 million.

Grand Chess Tour

This tour around the world includes a couple of minor tournaments all wrapped into one big event called the Grand Chess Tour. This event usually includes Croatia Grand Chess Tour, Paris Grand Chess Tour, London Grand Chess Tour, and more.
It's also a big event in chess and is often covered by the bookmakers.

Chess Olympiad

Even though it has the name Olympiad, it is not affiliated with the Olympic Games. This is a tournament where all the best players from the worth gather in early August to play a heated game of chess. This is another popular tournament that you can wager on.

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