Betting on chess thankfully doesn't share the same complication as the game itself. In fact, this space is dedicated to chess betting as a whole. Read on to discover how to bet on chess, which betting markets are the most desirable and where to find the best chess betting odds.
Chess is a globally renowned board game played on an eight-by-eight chequered grid. Two players face off, each controlling 16 pieces: eight pawns, two bishops, two knights, two rooks, one queen and one king. All pieces come with distinct movement patterns.
The objective is to trap the opponent’s king, but doing so usually requires outmanoeuvring or eliminating most of their pieces first. To aid decision-making, players often assign point values to pieces: pawns (1), knights and bishops (3), rooks (5), queens (9) and kings as beyond value. These points aren’t part of the official rules but help evaluate trades.
A game of chess can conclude in three ways: checkmate, stalemate or resignation.
Now, it’s time to look at the key betting markets on offer. The top chess betting sites provide a wide range of wagering opportunities, something you can always count on at LV BET.
As the name implies, this wager focuses on predicting who will win individual chess games. Since this market usually features fairly standard odds, many online bookmakers pair it with additional betting options.
An outright bet involves selecting the player you believe will win the entire competition. Keep in mind that these bets may take quite some time to settle, especially in longer tournaments.
Given the variety of possible openings, you can wager on which specific move or strategy a player will begin the game with.
Typically offered as an Over/Under market, this bet predicts whether the total moves in a game will exceed or fall short of the line set by the bookmaker.
To reduce the skill gap between a strong favourite and a clear underdog, handicap bets assign a virtual disadvantage to the favourite and a boost to the underdog. If you back the favourite, your bet wins only if they triumph despite the imposed handicap.
Before placing your first online chess bets, it’s important to familiarise yourself with the most significant tournaments in the chess world. Top betting sites highlight the sport’s major attractions, so understanding these events will help you ease into chess betting. Below are some of the biggest tournaments globally.
This is the pinnacle of competitive chess, where the strongest players on the planet showcase their abilities. The first World Chess Championship, also known simply as the Chess World Championship, took place in 1886 between Wilhelm Steinitz and Johannes Zukertort in the United States. Steinitz emerged victorious in the match that would evolve into the most prestigious chess event in history.
The 1984 World Championship is remembered as one of the most unusual and contentious editions ever held. The final, contested by legendary rivals Anatoly Karpov and Garry Kasparov, stretched over five months. Karpov led 5–3, excluding the extraordinary 40 draws that prolonged the showdown.
Eventually, FIDE president Florencio Campomanes halted the match without a result, citing the players’ deteriorating health due to its extreme length — an unprecedented decision at the time.
Organised by FIDE, this tournament holds tremendous significance because its winner earns the right to challenge the reigning World Champion.
Over the years, the number of participants has ranged from eight to fifteen. Until 1965, the event used a round-robin structure; afterwards, it switched to knockout matches until 2013, when FIDE introduced the current eight-player double round-robin format.
This annual January event takes place in Wijk aan Zee, the Netherlands. Starting in the 1930s, it began modestly and was initially limited to Dutch competitors. The tournament underwent several name changes — Beverwijk Hoogovens, Hoogovens Wijk aan Zee, Corus — before adopting the Tata Steel title.
Notable frequent champions include World Champion Magnus Carlsen and Viswanathan Anand. For many decades, tied leaders shared first place, but in 2018 tie-breakers were added for the first time.
This prestigious invitational event brings together elite players each summer in Dortmund, Germany. The winner is determined through either a round-robin or double round-robin format. Although entry is by invitation, one slot is always reserved for the Aeroflot Open champion from Moscow, Russia.
Held every two years, this team event features national squads from around the world competing for gold, though it is not formally linked to the Olympic Games. The inaugural edition took place in 1924 but was considered unofficial due to organisational issues. The first official Olympiad was later staged in 1927 in London, UK. FIDE oversees the tournament and, in 1976, merged the Women’s Chess Olympiad with the main event.
This biennial competition began in 2000, making it relatively new compared to other major tournaments. Since 2005, it has featured a 128-player knockout format that ultimately determines qualifiers for the World Championship cycle.
The Chess World Cup is most commonly hosted in Russia, though past editions have also been held in Azerbaijan and Georgia. Its lengthy 26-day schedule has occasionally sparked debate, with critics arguing that accumulated fatigue heavily influences results.
Also launched in 2000, this annual tournament crowns the European Champions in both the open and women’s categories and determines qualifiers for the Chess World Cup. Initially, the Buchholz scoring system served as the tie-break method, but the event now uses rapid knockout matches to decide tied positions.
If you’re new to placing chess bets online, you may want to claim a bonus to stretch your balance further. Most reputable chess betting platforms provide promotions that either increase your potential returns or give an extra boost to successful wagers on your betslip.
However, always read the Terms and Conditions carefully so you know exactly how the bonus works. If you haven’t made a deposit before, remember that some payment options may not be eligible for certain offers.
A free bet is essentially a no-cost chance to wager on selected chess matches. Awarding a free bet after a qualifying wager is one of the most common welcome perks sportsbooks offer to new bettors.
Still, specific criteria must be met before receiving the bonus. The bonus amount, qualifying stake, and available bet types may be limited, and there may be rules like minimum odds or maximum stakes.
Enhanced odds promotions provide boosted value on chosen selections, giving bettors the chance to secure better returns. Some sites extend enhanced odds to new players making their first bet, though this isn’t guaranteed across all sportsbooks.
This type of offer refunds part, or sometimes all, of a losing wager in the form of bonus funds. Chess betting operators may provide up to a 100% refund within a set limit, though the percentage can differ. Keep in mind that refunded credits may include wagering conditions before they can be withdrawn.
Want to put your chess knowledge to work? Explore our chess betting markets, available at one of the best chess betting sites for money betting. Our platform is designed for chess fans and many bettors looking for great odds on classic tournaments, both blitz events and other tournaments throughout the year. As one of the best betting sites, LV BET provides a huge range of markets, including special bets like predicting how many moves a game will take or which player will win with the white and black pieces.
Our Sportsbook is built to accept bets easily and securely, supported by reliable software and an expert team that delivers attractive bonuses and helpful tips. Customers can also explore other markets beyond chess, with competitive odds on football , basketball , MMA , esports and more.
Chess betting online can also be done via the LV BET mobile app , which you can download on all Android and iOS devices. This way, you can bet on chess live, on the go and whenever you want. LV BET on mobile offers a truly optimised and polished experience that every bettor deserves.
www.lvbet.com is operated by Fairload Ltd. which is registered under the laws of the European Union member state of Malta. It has registration number C71200 with registered address at 115B, Old Mint Street, Valletta, VLT1515, Malta. Fairload Ltd. operates under the MGA gaming licence MGA/B2C/282/2015 issued by Malta Gaming Authority (MGA), Malta's single regulatory body. It is illegal for anyone under the age of 18 (or min. legal age, depending on the region) to open an account and/or to gamble with lvbet.com. The Company reserves the right to request proof of age from any customer and may suspend an account until adequate verification is received. Gambling can be addictive. Play Responsibly. You can contact www.rgf.org.mt, www.gam-anon.org, www.gamblingtherapy.org, or visit our Responsible Gaming page.
Your Betslip is empty. Click on the odds to add the bet.