Chess Betting: How to Bet on Chess with Bitcoin
Unlike most sports, chess requires more brain than brawn. Its uniqueness makes it a wonderful game to watch and bet on. This guide will help you know how you can participate in online chess betting. Let’s dive in!
Table of Contents
- How Does Chess Gambling Online Work?
- Popular Chess Bets
- How Does Chess Betting Online Work with Bitcoin
How Does Chess Gambling Online Work?
Chess is a popular game, played by people globally. Its gameplay involves two players facing off in a game of strategy on a chess board. Each player has figurines representing different characters, from a pawn to a queen and even a king.
The main objective of the game is for each player to strategically capture their opponent's characters. To win, a player needs to capture the opponent’s ‘King’ in a move known as a ‘checkmate.’ Once a checkmate is declared, the game is over.
Chess has also provided opportunities for people to take part in chess gambling online. Here, you can bet on a physical or virtual chess game using a reputable betting site like 1xBit. All you need to do is to identify a match you would like to bet on, and place your wagers to win.
Popular Chess Bets
Here are some popular chess bets that you can place on 1xBit. These bets vary from match to match, depending on the match and tournament.
Total wins
The total wins bet is also known as over/under. In this bet, you will be wagering on how many points a chess player will win. Usually, the betting site sets a specific number of points, let's say 1.5, and then also points out the odds of that outcome coming true. You then choose if the final points per player will be over or under the number outlined.
Team wins
In team wins, you will be wagering on the team you think will win. In chess, this can be applicable where players are divided into teams. Some of these tournaments may include international tournaments where country teams compete against each other.
1X2
A 1X2 bet is also known as a three-way bet. In this bet, you are expected to pick whether a player will win in three outcomes; a home win, a draw, or an away win. A home win is represented by 1, a draw is represented by X, and 2 represents an away win.
Double Chance
In a double chance bet, you will combine the three possible outcomes of a 1X2 bet. So you could choose to have a 1X, 2X, or a 12 bet. Which means a home win or draw, an away win or draw or an away win.
With this bet, you will have a higher chance of winning your bet, though usually the odds will be lower, and your winnings less than a 1X2 bet.
Handicap
A handicap in chess betting occurs when two unequally matched players play against each other. To make the game more evenly matched, a betting site will apply a handicap on the players. This handicap will, for instance, reduce the chances of the better player winning by deducting some points, say 3 points, from the final score.
Alternatively, the site might increase the chances of the weaker player winning by adding points to their final score, for example, +3 points in the overall score. A handicap bet usually comes with different chess odds. These odds can help you win big, especially if you bet on the weaker player and they win.
Next, we look at three top tournaments that you can look forward to betting on using the outlined betting options.
- World Chess Championships - The World Chess Championship is a tournament that is held every two years to determine the best chess player in the world. During the two years between each championship, great chess players from different countries qualify for a tournament known as the Candidates, during the odd year. Then during the even year, the Candidates tournament is held earlier on during the year. The top players then qualify for the World Championship later on during the same year.
- The Chess Olympiad - The Chess Olympiad is also held every two years. It brings together top players from different countries worldwide, with each player representing a specific country, instead of themselves. During the competition, teams face off in an 11-round tournament lasting around two weeks.
- Dortmund Sparkassen Chess Meeting - The Dortmund Sparkassen Chess Meeting is a unique annual chess event. This is because the event is only open to specific chess players who the organizers of the tournament invite. The only exception to this rule is one slot which is preserved for the winner of the Aeroflot Open held in Moscow. These chosen play in a round-robin format where each contestant plays against the other in different stages until the winner is determined.
Whenever you bet on these tournaments, you should keep a few tips in mind.
First, familiarize yourself with the tournaments, as each tournament might have a unique set of rules. Next, carry out research on the players. Take a look at their past performances and most recent games to gauge their level of skill. Lastly, place your bet using a reputable online site like 1xBit.
How Does Chess Betting Online Work with Bitcoin
To understand how chess betting works online with Bitcoin, we will look at how you can place a chess bet on 1xBit.
The first step is to register on 1xBit.com. Once you have registered, deposit some Bitcoin into your 1xBit account wallet.
Next, head over to the ‘Sports’ section of the website. Then using the four horizontal lines at the second tab, choose ‘Chess’ in the list of games in the dropdown.
Pick the game that you would like to bet on. In our case, we will use the game between Rameshbabu Praggnanandhaa and Anish Giri in the FTX Crypto Cup.
Lastly, choose your wagers depending on the chess odds. And finally, click on ‘Place a Bet’ on the prompt that appears on the right side of your screen. Once you place your bet, you can proceed to wait for the results and potential winnings!
Betting on chess using 1xBit is a fairly easy process, and with this guide, we hope you can place your bets easily on the site.
Head over to 1xBit to start betting on chess with Bitcoin today!