Chess Betting & Odds at LV BET

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.

What is Chess?

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.

• Pawns advance only one square forward but capture diagonally. Their single exception is on their first move, when they may move two squares ahead if unobstructed.
• Knights travel in an “L” shape — two squares in one direction followed by one square at a right angle — and are the only pieces able to leap over others.
• Bishops move strictly diagonally, with unlimited range as long as no piece blocks their path. Because of this, each bishop stays on the same colour for the entire match.
• Rooks share the bishop’s long-range ability but move only in straight lines, making them valuable defensive and attacking assets.
• The queen is the strongest piece, able to move any number of squares in straight or diagonal directions, though still unable to jump over pieces.
• The king is the most crucial yet one of the least mobile pieces, able to move just one square in any direction. If the king is placed in unavoidable danger — checkmate — the game ends.

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.

Chess Betting - Your Best Options

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.

Match Winner

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.

Outright Winner

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.

Opening Move

Given the variety of possible openings, you can wager on which specific move or strategy a player will begin the game with.

Number of Moves

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.

Handicap Bet

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.

Top Tournaments to Bet on in Sports Betting

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.

World Chess Championship

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.

Candidates Tournament

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.

Tata Steel Chess Tournament

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.

Dortmund Sparkassen Chess Meeting

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.

Chess Olympiad

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.

Chess World Cup

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.

European Individual Chess Championship

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.

Bet on Chess with a Sportsbook Bonus

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.

Free Bet

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

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.

Bonus Back

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.

Bet On Chess at LV BET

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.

Betting on Chess on the LV BET Mobile App

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.