How many chess openings are there?

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Avatar of MadAzAd

Hey everyone!
I was wondering how many chess openings there are?
I noticed the encyclopaedia of chess openings (ECO) only lists 500 openings but the Oxford companion to chess lists 1327 openings. Does the ECO only list common openings or doesn't list variations whereas the Oxford companion to chess lists uncommon openings with more variations?
Thanks for all your help! 

Avatar of tygxc

1 ECO code may correspond to several opening names.
Sometimes one opening name spreads among several ECO codes.
ECO partitions all openings into 500 disjunct classes.

Avatar of MadAzAd

So does 1 ECO code corresponding to several opening names occur because of similarity between the openings? And one opening spread among several ECO codes occurs because of the amount of depth or theory or different lines?
Thanks for your help!

Avatar of tygxc

@3
Examples:

B00 is for St. George Defense, Owen Defense, Nimzovich Defense

Sicilian Defense, Najdorf Variation spreads from B90 to B99