USSR postage stamp with a face value of 40 kopecks was issued to commemorate the 1948 World Chess Championship. It was a tournament held to determine the new World Chess Champion following the passing of the previous titleholder, Alexander Alekhine, in 1946. The tournament commenced in The Hague, Holland, and later continued in Moscow, USSR. Five players participated in the championship: Mikhail Botvinnik, Paul Keres, Max Euwe, Samuel Reshevsky, and Vasily Smyslov. Mikhail Botvinnik convincingly won the event with 14 out of 20, three points above runner up Smyslov.