Last updated on: October 25th, 2022

Betting On Chess

While many casual sports bettors may not realize it, betting on chess exists and can be just as profitable as other sports. Chess odds come a bit differently than other odds that are listed on online sportsbooks as it is a game of skill and strategy. There are major tournaments for chess including the Linares and Tata Steel tournaments for individual players and the Chess Olympiad for when players are representing their countries while playing. These major tournaments are usually when chess odds appear.

As you continue reading, we’ll discuss whether or not betting on chess is legal as well as where you can find the best chess odds. You will find out what the best legal sports betting options are for you to be able to choose what chess bet you want to make. You will come across some of the current chess odds as well as find out how to insert and cash out your winnings from your chess bets.

Top Chess Betting Sites

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#1

Bovada Sportsbooks

Best Book Fir Legal NFL Chess Betting

Whether betting on future tournaments or live events, Bovada is the best legal sportsbook for betting on the world of chess. Bovada offers secure deposits and quick withdrawals through credit cards, bank transfers, and cryptocurrencies for betting on chess in the US. The FIDE World Championship is the biggest tournament in the world for chess and receives the most traction for US bettors. Bovada has odds for the outright winner of the tournament and prop bets for the finalists during the time of the event each year.

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Best Deposit Methods For Legal Sports Betting

While legal sports betting sites in the US have credit card and bank transfer deposit methods available, cryptocurrency is the most secure method for placing wagers. There are no fees attached to any transactions with Bitcoin or other cryptos for legal sportsbooks like BetOnline or Bovada. Bitcoin deposits process instantly and offer same day payouts for all legal chess betting activities.

  • Bitcoin
  • Tether
  • Ethereum
  • Litecoin
  • Binance Coin
  • Cardano
  • Chainlink
  • Stellar
  • Ripple
  • Solana
  • Dogecoin
  • ApeCoin
  • Tron
  • Polygon
  • Shiba Inu

Is Betting on Chess Legal?

Betting on chess is a completely legal and is one of the more popular niche sports to bet on. If there are odds listed for chess on the right online sportsbooks then you should feel free to go ahead and bet on the game as that alone gives you the green light. Just like chess is played all around the world, you can bet on chess all around the world as well as it does not matter where you are or what state you are in. Online sportsbooks that operate in countries outside the U.S. are not unlawful either and you can enjoy betting on chess as much as you want. State-regulated sportsbooks may also be an option, but the likelihood that they have chess odds is spotty.

What Bets Can You Make On Chess?

If you have an interest in betting on chess, you should get an understanding of what type of bets you can make as well as how to follow them. Some of the betting types below are basic chess bets and you need to know how to bet on them so you can have a better chance of cashing out.

Betting On Chess Over/Unders

Betting the Over/Under on chess is simple, but you will notice that it is different than betting the Over/Under than other ones listed on online sportsbooks. When betting the Over/Under on chess you can bet on how many moves one of the players will make throughout the whole game as well as how many moves will be made in total by both players. For example, if Magnus Carlson and Fabiano Caruana are playing, and online sportsbooks have Carlson’s projected moves at 150.5 with the Over favored at -150 and under at +110, it means that he is expected to make more than 150.5 moves. To add to that a $150 bet on Carlson would only payout $100 dollars and a $100 bet on Caruana would payout $110.

Betting On Chess Futures Bets

When making a futures bet on chess, you are betting on something to happen way in advance. Chess odds will be posted long in advance and you will have the opportunity to bet on them at any time before the event happens. An example of this would be placing a bet on the World Chess Championship weeks in advance. You will also notice that odds for futures bets tend to offer larger payouts because of how far in advance the odds were released.

Betting On Chess Straight Bets

A straight bet on chess is as simple as they come. You are betting on who you think is going to be the winner at the end of the match. Online sportsbooks will have odds for both of the players in the match with one player having shorter odds than the other. The player with shorter odds means that they are more favored to win. For example, Liren Ding and Hao Wang are two professional chess players. If online sportsbooks were to set Ding’s odds at -350 and Wang’s odds and +200, that would mean that Liren Ding is favored to win. It also means that bettors would have to stake $350 just to win $100 if Ding wins the match. The more favored players will always require more money up front because its less of a risk.

Betting On Champions Chess Tour 2022

This Chess tour is one of the most extreme but exciting tournaments in existence. This is an online chess tour that has a $1.6 million pool, and takes place from February to November of 2022. In this tour, there are major tournaments, and regular tournaments, and there is money that is divided up for each one. Due to the online format, this chess tour allows players from all over the world to participate in the tournaments, and compete for various sums of wining, with the major tournaments having a total pool of $210,000 and the regular having $60,000. For all of these individual tournaments, bettors can place wagers on the winner of each event.

Other Popular Chess Events

There are many popular chess events that take place worldwide, with some competitions being online, and others having physical locations. With major chess events, there are legal sportsbook that offer odd for the outcomes, and various other betting types. The FIDE Grand Prix sends the winner and runner up to qualify for the Candidates Tournament, which then can qualify players for the Chess World Cup.

  • FIDE Grand Prix – This event is a series of four separate tournaments, and all four rounds consist of playing the best of two matches.
  • Chess World Cup – This chess tournament is played every two years, with single match elimination, and has a total of 128 players involved.
  • The Candidates Tournament – For this tournament, the number of players changes and jumps around each year, but it is a special event, because the winner is given the opportunity to challenge the winner of the World Cup.
  • World Corporate Chess Championship – This is an online chess tournament that consisted of over 1500 players in 2021.

Biggest Chess Tournaments To Bet On

Chess has a few big tournaments every year that attract chess bettors. The big one would be the Chess World Cup were sports bettors from all over the world compete against each other. The majority of the big chess tournaments take place overseas as chess is a universal game of strategy. Sports bettors who wager on chess are probably looking at the World Cup, World Chess Championship, and the Chess Olympiad as the main draws for chess betting. Regardless of which tournament you choose to wager on, online betting sites offer the best odds for all your chess betting desires.

Banking Options For Chess Betting

If you are going to make a deposit into an online sportsbook account to bet on chess, you have different options for doing so. You can use your banking debit or credit card, money order, or even go as far as using online cryptocurrency like bitcoin. As long as you have an account to deposit money in, you can use any one of these payment methods and even use promotional offers when doing so.

When talking about collecting your winnings, there are other options as well. If you used your debit or credit card or a money order, you can get your winning by a wire transfer or even by a check in the mail. When using online cryptocurrency though, you could get the money sent back to your online cryptocurrency wallet. Cryptocurrencies are always one of the faster sportsbook deposit methods when betting on chess or any other sport for that matter