Chess Betting Odds: Odds flip for the World Chess Championship with Ian Nepomniachtchi now the 8/11 favourite to win in Kazakhstan!

Ian Nepomniachtchi is now the favourite to win the 2023 World Chess Championship

Russian Chess Grandmaster Ian Nepomniachtchi is the new favourite with UK Betting Sites at 8/11 to win this year's World Chess Championship set to take place next month.

Nepomniachtchi was long the outsider in the betting up against Chinese Grandmaster Ding Liren but the odds have flipped in recent weeks with Liren moving from 8/13 to evens now to win.

Paddy Power say there's a 57% chance of Nepomniachtchi winning the World Chess Championship in a rematch of the Candidates Tournament where he beat Liren to qualify for the World Championship.

Liren on the other hand has a 50% chance of winning with the odds tight as bookmakers struggle to properly split the pair in the betting market.

Current World Champion Magnus Carlsen will not defend his title this year after relinquishing

The reigning World Champion Magnus Carlsen will not be defending his World Championship this year after relinquishing his title officially back in July 2022.

Carlsen cited a lack of motivation as his reason for not playing in the World Championship match this year on a podcast with his sponsor Unibet.

The Norwegian Chess grandmaster has been the undisputed World Champion since 2013 and this year will end a decade of dominance.

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Where and when will the 2023 World Chess Championship take place?

The 2023 World Chess Championship will be held in Astana, Kazakhstan taking place from 7th April to 1st May this year.

It will be a 14-game match with a total prize fund of €2m split 60% for the winner and 40% for the loser.

No specific venue has been announced yet but the tournament will definitely take place in Astana where previous World Team Championships and World Rapid and Blitz Championships have been held.