World Chess Introduces Prize Money Tournaments
World Chess today introduced Prize Money Tournaments — online tournaments with entry fees and monetary prizes. The Prize Money Tournaments will be organized by World Chess and select partners, such as federations and clubs, and will allow chess players to play for actual monetary prizes, similar to the offline events.
Setting up and participating in a Prize Money Tournament on FIDE Online Arena, the official gaming platform of the World Chess Federation, is easier than ever — you can pay the entry fee via a credit card or PayPal and register to the event immediately. Winners will receive their prizes via PayPal.
This feature was one of the most requested by clubs and tournament organizers which had to develop different workarounds to run Prize Money Tournaments. The World Chess team also was interested in releasing this feature because playing for a prize, however small it may be, adds motivation to perform your best in a tournament and allows chess fans to feel excitement of a real chess tournament by playing online.
All Prize Money Tournaments will be subjected to a deep FairPlay analysis to ensure there are no fairplay violations. World Chess will organize Prize Money Tournaments with the initial $85.00 prize fund and $1.5 entry fee weekly. Once the feature is available to clubs and federations, the number of Prize Money Tournaments is expected to increase to dozens per week, making FIDE Online Arena the single biggest destination for tournaments with monetary prizes.
The World Chess team is pleased to offer its members another opportunity to hone their chess skills in such an exciting way. To register for the first Prize Money tournament, visit the tournament page.
If you are an organizer and would like to run Prize Money Tournaments online, please join waiting list and we’ll get in touch with you shortly.