You have the right to remain silent while castling, if you give up said rights, your bishop may be captured. Do you understand these rights??
Sliding Value of Castling Rights
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I was wondering about the point value of castling rights and while there are several threads on it, none that I found had anything approaching a satisfying answer. So I figured I'd give a stab at answering it myself. I hope with feedback the answer might improve. I don't expect to have a formula at the end but perhaps some useable guidelines.
The short version of course is that it depends. But depends upon what?
1. The skill of the players
The first factor is the skill of the player. As the players skill improves its value declines. Castling is a very useful tool. But the better a player is the better she can compensate for not having that tool available during the game. The primary (but not only) reason to castle is king safety, the less skill the player is the more important it is to have the king safety tucked away from blunders (other than being open to back row mate of course).
At my current level ~1500 I'd say castling rights is worth about a pawn as a “base value”. At around 1200 I'd say it would be worth about 2 pawns. Going up over 2000 probably 1/3 of a pawn.
2. The number of non-pawns on the board, especially the queens.
At the end game with most pieces off the board castling is almost useless and perhaps counter productive as you really want your king actively engaged not hiding in a corner. So the more pieces that have been removed (especially if the queens are gone) the less valuable taking away castling rights is. This makes me a bit sad as taking away my opponents is a favorite tactic of mine and the most common way to do this early in the game involves exchanging queens.
Still taking away castling right with an early queen exchange might still be worth 1/2 to 3/4 the base rate. Once both players are down to 2 (non-pawn) pieces I'd say removing castling rights has no value.
3. The opening being played
If the opening being played has several common winning lines without castling the value of castling is worth a lot less. As a rough rule if 1/3 of the common lines have winning variations without castling taking away the right to castle has no value among players who know the opening. If you don't know the openings or are way off book, this rule is irrelevant.
4. Pawn structure
a. Open v closed
The more clogged the center of the board is the less castling is necessary to protect the king. The more open the center is the more vulnerable an uncastled king is. In an wide open structure the value of casting goes up by about 1/2 a pawn, in a firmly closed structure the value goes down by about 1/2 a pawn.
b. Holes on the wings
If the pawns where you would castle aren't there, castling does a lot less good. Look at the pawns in front of the rook and knight. If they are missing or advanced 2 or more spaces the value of castling rights drops in half.
As you can see most of these guidelines reduce the value of castling. It should be obvious that while castling rights may be nearly worthless is some cases they are never a negative.