Tom Dwan vs. Chess Pro: $50,000 Bet on a Piece Advantage Match

The largest chess bet in 2021 was made between a poker player and a chess professional. The poker player was Tom Dwan, who believed he could beat any chess player with a piece advantage. The chess professional was a friend of Dwan's, who was confident in his ability to win against a beginner with a piece advantage.

The bet was for $50,000, with the chess professional receiving a 10% bonus if he won. The match took place in a luxurious house in Las Vegas, where many young poker professionals lived. The match was delayed because Tom Dwan was in a significant loss and needed time to recover.

The rules of the match included unusual time controls and piece placement. The time control for the main matches with a rook advantage was one hour per player. If Tom Dwan's time ran out, he could continue thinking but would incur a significant penalty for each minute of overtime. Additionally, moves were only considered made after pressing the clock, allowing players to retract moves if their time was still running.