Sports betting is a million-dollar industry and the biggest games people bet in are basketball, football, American football, horseracing, F1, baseball, and more. But, the unsung hero of the online betting platform is chess.

More and more people are spending serious money on chess tournaments all over the globe. With chess betting, it’s all about strategy and probably 10% luck. People read statistics and watch matches over and over again.

If you’re about to dive in all of the excitement, rush, and fun, here are three tips you need to know.

Check the Odds

In betting, you really can’t force the odds to be in your favour, but you can nudge it a little. In online betting websites or portals, there will always be betting odds to tell you the possible winnings you’re going to get.

Not only that. They also provide information about players and their chances of winning.

Now, remember that these are all speculations based on insights and data they gathered. So, it’s not a sure thing. You also need to be mindful of who you bet on. You can calculate your odds or just live it up to fate.

Chess betting these days is being opted out as part of the casino platform. More and more sportsbooks are making good money out of it and will continue to do so in the near future.

Find a legit Betting provider

There are several sportsbooks or online betting websites out there. They all have their front and back-end betting features. However, keep in mind that most transactions and processes are done online or through the cloud. We’re not telling you to be afraid, but to be cautious.

Make sure that the betting provider you are going to utilise is a legit operator and is compliant with the law. We are talking about privacy policy and data privacy. You are giving your personal information as well as bank account numbers.

There have been many cases of fraud and scams in the online casino and betting industry. So, if you are going to bet on chess tournaments, find a legit provider.

Budget your money

Another issue, in fact, a big issue with chess betting or in sports betting, in general, is gambling addiction. People tend to spend money they don’t have to hope to win back a couple of dollars.

People with gambling and betting addiction tend to prioritise gambling over everything, including their family and jobs. That is why several organisations including government entities are pushing for responsible gambling. With that said, being a responsible gambler means being mindful of the money you spend. Here’s an important tip that will do you a lot of good, limit or budget your money for gambling. Make sure to not go all out and to always know when to walk away.