How To Bet On Chess - Beginner's Guide 2022

Want to learn how to bet on chess? We'll explain what chess betting is, how it works, and list some of the most popular events to make a profit from.

How To Bet On Chess

Chess betting can be a fun and profitable way to add excitement to the game. In this beginner's guide, we will teach you everything that you need to know about betting on chess.

We will explain what chess betting is, how it works, and which chess events are the most popular to bet on. We will also discuss different chess betting types and how they work.

Finally, we will provide some top tips for making a profit when betting on chess!

What is chess betting and how does it work?

Chess betting is a great way to make some money while enjoying the game of chess. You can bet on chess games, tournaments, and matches.

The chess betting market is growing, and there are now many online chess betting sites where you can place your bets.

How does it work?

If you're interested in starting to bet on chess, the first step is to find a reputable betting site that offers markets that interest you.

Once you've chosen a site that looks like a good fit for your needs, the next step is to create an account. This typically involves providing some basic information about yourself, as well as making a deposit so that you can start placing bets.

Some chess betting sites may offer sign-up bonuses or other incentives to help get you to start on your chess betting journey.

Here is an example of a sign-up bonus offered at the bet365 betting site:

bet365 betting sign up bonus offer

Once your account is set up and funded, it's time to start placing your bets!

The best chess events to bet on to make a profit

There are many different chess events that you can bet on to make a profit. Here are some of the most popular chess events to bet on:

  • World Chess Championship
  • Champions Chess Tour
  • Grand Chess Tour
  • FIDE Grand Prix 
  • Candidates Tournament
  • Norway Chess Tournament
  • Meltwater Champions Tour

Different types of chess bets and how they work

Now that you know about some of the most popular chess events to bet on, let's discuss the different types of bets that you can place.

The most common chess bets are:

  • Match winner bets;
  • Tournament winner bets; and
  • Props bets.

Match bets

Match winner bets (moneyline) are usually offered as a 2-way market for most chess matches. This means that you can bet on either player to win the match.

Check out the Magnus Carlsen versus Jorden Van Foree chess match at the 10bet betting site and their 2-way odds.

chess moneyline bet example

Magnus Carlsen is the most famous chess player in the world and the clear favourite in this match, with odds of 1.15. Jorden Van Foree is the underdog, with odds of 5.00.

In this example, if you bet £20 on Magnus Carlsen and he wins the match, you'll win £23.07 (1.15 multiplier x £20 wager). That's a profit of £13.07 on your initial wager!

chess bet slip example

Alternately, you can bet on a draw (tie) as well. This type of bet is called 3-way betting (Home win, Away win or Tie). The draw allows you to bet on the outcome of a game without picking a winner or loser.

Here is an example of the same chess match between Magnus Carlsen and Jorden Van Foree offered at the Unibet betting site and their 3-way odds.

unibet chess draw bet example

Tournament bets

Tournament winner bets (outrights) are another popular type of chess bet. This is when you bet on who will win an entire chess tournament before it begins.

For example, you can bet on Magnus Carlsen to win the World Chess Championship at the Unibet betting site with odds set at 1.25.

unibet chess outright bet example

This means that if you bet £50 on Magnus Carlsen to win the tournament and he does, you'll win £62.50 (1.25 multiplier x £50 wager). That's a profit of £12.50 on your initial wager!

unibet chess outright bet slip

Props bets

Props (or proposition) bets are chess bets that are not related to the outcome of a chess match or tournament.

Some examples of chess props bets include:

  • Who will win the Rapid game 1, 2, 3, or 4?
  • Will Rapid 4 games be played?
  • Will Armageddon be played in the chess match?
  • Will Blitz be played in the chess match?

Here is an example of chess props bets offered at the Bwin betting site:

bwin chess props bet example

Top chess betting tips to help you to make a profit

Now that you know some of the most popular chess events to bet on and the different types of chess bets that you can place, here are some top chess betting tips to help you to make a profit:

  • Do your research - make sure that you know the chess players and their past performances before placing any bets.
  • Look for value bets - don't just bet on the favourite to win. Look for chess players with good odds that have a chance to win.
  • Control your bankroll - only bet what you can afford to lose and always set limits on your bets.
  • Use bonuses - many betting sites offer sign-up bonuses and promotions that you can take advantage of.

Chess betting FAQs

Can you bet on chess?

Yes, you can bet on chess! In fact, chess betting is becoming quite popular in recent years. You can bet on who will win a particular match, or you can bet on who will win a whole tournament. You can also bet on other aspects of the game, such as who will win the Rapid game.

Can you be profitable with chess betting?

There's no surefire way to profit from chess betting but you can do a few things to improve your chances. Research the playing styles of the competitors and their recent results. This will give you an idea of who is likely to win and by how much. Then, compare the odds being offered by different bookmakers before placing your bet.

Can I bet on chess on my mobile?

Yes, you can bet on chess events on your mobile phone. You can either bet on individual games or matches, or you can bet on the overall tournament winner.

Conclusion

So there you have it - our beginner's guide to betting on chess. It can be a great way to make some extra money and also to enjoy the game even more.

Make sure to do your research ahead of time in order to maximise your chances of achieving favourable outcomes. By taking the time to learn about the players, their styles of play, and their current form, you'll be well equipped to make informed decisions when it comes time to place those chess bets.

We hope that you found our guide to be helpful and use it to make some profits in the exciting world of chess betting. If you're ready to experience all of the thrills of chess betting, follow these simple steps and start enjoying all that chess has to offer today.