In 1967, the first year of the competition, Ernest Greenhalgh claimed the prize as tournament champion.

"He was obviously a very good chess player. He trained as a school teacher and taught schools in the western district and his main interests were maths, chess and the stock market," Ballarat Chess Club publicity officer Chris Segrave said.

"His family has bequeathed his trophy to us which was the first trophy in what we call the modern era of our club."

Since then, chess players from all over the world have entered and won the tournament, which is held during the Labour Day long weekend.

Mr Segrave said more than 100 competitors of all ages were set to take part in this year's event which was one of the largest chess tournaments in Australia.

The Ballarat Begonia Open Chess Tournament starts today at the Student Amenities Centre in SMB.

For entries and further information, visit www.ballaratchess.com