In the ever-evolving landscape of online gambling, chess betting sites have emerged as a niche yet rapidly growing segment. With the increasing popularity of chess, fueled by high-profile tournaments and the global surge in online play, betting on chess matches has become an exciting avenue for enthusiasts. These platforms offer a unique blend of intellectual challenge and the thrill of wagering, catering to both seasoned gamblers and chess aficionados. Let’s explore with bestsoccertips the 5 best chess betting websites through the following article.
Basic Concepts of Chess Betting and Odds
When sportsbooks add chess betting lines, they set the odds for different outcomes. Learning how to read chess betting odds is an important step in becoming a successful gambler. Chess odds determine how much money you can win when betting on the game and also provide a clue about the outcome that bettors think is likely. American odds, fractional odds, and decimal odds are the three main types of chess odds used to display the probability of an outcome.
They look different but essentially reflect the same idea. Most sportsbooks in Canada and Europe use decimal odds, while U.S. chess betting sites use American odds. You can always change the odds format in the settings menu.
Important Considerations for Betting on Chess in Canada
Chess betting has been legal in Canada for nearly 40 years, but the ban on single-game betting limited it to parlay betting and through provincial lotteries. In June 2021, the Safe and Regulated Sports Betting Act was passed, allowing provinces to regulate online single-game sports betting. With provincial authorities given the power to set their own rules for sports betting, regulators began approving sportsbooks that had been operating in the grey market.
Ontario was the first to open up to international sportsbooks, with over 26 approved sportsbooks now operating there. Additionally, the legal age for sports betting in Ontario is 19. Other provinces quickly followed suit, and online chess betting is legal in most parts of Canada. You can legally use online esports betting sites in British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Prince Edward Island, Quebec, and Alberta. Nunavut, Saskatchewan, the Northwest Territories, and Yukon have legalized single-event betting, but only at retail locations. This makes offshore chess betting sites the best alternative for residents there.
Top 5 Best Chess Betting Sites
1. BK8
Since its establishment and licensing in 2014, BK8 has quickly established itself as one of the most popular online bookmakers for Asian bettors. Over the years, the bookmaker has partnered with Asian football clubs and fans through several official sponsorships, including player activation sponsorships for Crystal Palace FC in Asia and being the Official Asian Betting Partner of five La Liga clubs (Elche CF, Valencia CF, Athletic Club, Villareal, and RCD Mallorca).
No comprehensive review of BK8 Sportsbook would be complete without addressing any security concerns. Whenever you consider signing up for a sportsbook, it’s crucial to know if it is genuinely safe to use.
We are pleased to report that BK8 appears to operate legitimately. It holds a gambling license from Curacao. Additionally, the fact that this sportsbook has been around for over eight years means they are doing things right. Besides being regulated by the Government of Curacao, BK8 is also certified by BMM Labs, iTech Labs, and GLI.
2. M88
M88 is a full-service Asian casino and sports betting platform operated by Mansion Group and licensed by First Cagayan Leisure and Resort Corporation. This bookmaker is known for its excellent product lines, convenient banking options with various currencies, and offers a full casino alongside their sports betting services.
They provide odds for hundreds of different live markets daily in addition to offering odds on every sports market you can think of. Mansion Group is the company behind M88.
When you become a customer at M88, you gain access to all the best markets in football, chess, tennis, basketball, auto racing, cricket, volleyball, and golf along with hundreds of other sports and thousands of sports events they cover.
Furthermore, you can participate in several live casino games such as blackjack and Pai Gow, as well as Mahjong Poker, slots, video poker, keno, and various other poker games. You can play and bet via PC at home and mobile phones when set up with M88.
3. 22Bet
22Bet is an online bookmaker established by chess betting enthusiasts. Our 22Bet review highlights how this online betting site provides a safe and reliable service for its customers. With over 1000 sports events covered daily, 22Bet offers you a wide variety of bets with great odds.
22Bet is licensed and regulated by the United Kingdom Gambling Commission (UKGC). The UKGC is an extremely reliable regulatory body. It ensures that any business under its jurisdiction follows a strict set of rules and guidelines. This means you have extensive customer protection, and 22Bet provides you with a safe, fair, and transparent sports betting environment.
In addition to having a UKGC license, 22Bet also holds a Curacao license. Like the UKGC, the Curacao Gaming Control Board performs a similar role in regulating gambling sites. The rules and standards are slightly different, but by having this license, 22Bet can legally offer its services in many different countries.
4. Betway
Betway is a well-known name in the world of online chess betting. Established in 2006, it has grown to become one of the leading betting platforms globally. Betway offers a wide range of sports betting options, including chess. Betway’s user interface is designed to be user-friendly, with a clear and intuitive layout, making it easy for users to navigate and find betting options.
Betway’s betting markets are diverse, including match winners, tournament winners, and special bets for specific events. One of Betway’s standout features is live betting, allowing users to place bets on ongoing chess matches in real-time. Additionally, Betway frequently offers promotions and bonuses for both new and existing users, enhancing the betting experience.
5. 1xBet
1xBet is a young but ambitious Russian chess betting bookmaker, aiming to provide one of the most comprehensive online betting sites on the internet. Founded in 2012 and licensed in Curacao, 1xBet has over 1,000 betting shops, bringing considerable experience to the field.
This bookmaker is characterized by an incredible range of options designed to make it stand out from the crowd. The site is available in an astounding 42 languages and accepts various currencies, including Bitcoin.
There are over 1,000 events to bet on each day, and as one of the first to set prices, 1xBet offers some of the highest odds. It features hundreds of markets for football matches and top sports events and offers odds on a vast array of sports terms as well as financials, casino games, bingo, lotteries, and more.
Conclusion
Chess betting sites offer a unique and engaging way to combine the strategic depth of chess with the excitement of wagering. As the popularity of chess continues to grow globally, these platforms provide an excellent opportunity for enthusiasts to enhance their experience and potentially profit from their knowledge of the game. The top 5 chess betting sites we’ve reviewed—BK8, M88, 22Bet, Betway, and 1xBet—each bring something distinctive to the table, whether it’s through their comprehensive market coverage, user-friendly interfaces, or attractive promotions. By choosing a reliable and reputable site, you can enjoy a safe and thrilling betting experience while immersing yourself in the fascinating world of chess.
