Chests

Summary

 * Earn chests to unlock rewards, collect new Cards and upgrade existing cards.
 * Silver, Golden, Giant, Magical and Super Magical Chests are earned by winning battles after the tutorial.
 * Each player has four chest slots, so you can only have up to four chests waiting at a time. You can still battle when your chest slots are full, but you will not be able to win a chest from that battle.
 * Each Chest is better than some other Chests: Super Magical > Magical > Giant > Crown > Golden > Free > Silver Chest
 * All chests have better rewards at higher Arenas.
 * A Chest always contain cards from the Arena you got it in and below. Unlocking a new arena adds new cards to the chest rewards - none are taken out.
 * Only Free and Crown Chests can contain Gems.
 * Crown and Free Chests contain cards from the Arena you open it in.

Rarity

 * Rare Cards are 10 times rarer than Common Cards.
 * Epic Cards are 20 times rarer than Rare Cards and 200 times rarer than Common Cards.
 * Legendary Cards are 20 times rarer than Epic Cards, 400 times rarer than Rare Cards and 4000 times rarer than Common Cards. Source
 * Any chest can contain Epic Cards.
 * Any chest from P.E.K.K.A's Playhouse (Arena 4) or higher can contain a Legendary Card.

Free Chest

 * Free Chests are awarded for free every 4 hours.
 * Uncollected chests will stack (maximum 2) for unlock the next time the player is online.
 * After you have 2 Free Chests waiting, the timer for the next Free Chest will be stopped until you collect one of your waiting Free Chests.
 * Free Chests can contain 2 gems.

Crown Chest

 * The Crown Chest is unlocked after you win 10 crowns in battles.
 * Note that Friendly Battles and Training Battles will not count toward this total.
 * It has approximately double the rewards of a Gold Chest, and about 2/3 of the rewards of a Magical Chest (Not counting the Epic Cards.
 * The Crown Chest has a 24 hour cooldown that starts as soon as the previous one becomes available. This allows for a new chest to be opened at the same time every day.
 * Uncollected chests will stack (maximum 2) for battling the next time the player is online.
 * After you have 2 Crown Chests waiting, the timer for the next Crown Chest will be stopped until you collect one of your waiting Crown Chests.
 * Crown Chests always contain 2-4 gems.

Silver, Golden, Giant, Magical and Super Magical Chests

 * Chests won from battles after the tutorial could be Silver, Golden, Magical, Giant, Super Magical.
 * The cost to purchase Magical, Giant, or Super Magical Chests from the shop increases based on the arena the player has unlocked. The higher the arena is, the higher the cost since chests from higher arenas contain more rewards.
 * The Silver Chest has no guarantee on the rarity of the cards you will get. The Golden Chest guarantees a few Rares, the Magical Chest guarantees Rares and Epics, the Giant Chest guarantees a large number of Rares. Super Magical Chests guarantee the highest number of Rares and Epics and also have the highest chance of obtaining a Legendary Card!

Trivia

 * On 29/2/16, the March Update added the Giant and Super Magical Chests.
 * Before it, Silver and Golden Chests were available in the shop in place of the Giant and Super Magical Chests.
 * On 3/5/16, the May Update doubled the rewards of the Crown Chest, and doubled the chance of getting a Super Magical Chest.
 * It also reduced by 20% the gold into all the chests with the exception of Crown/Free.
 * In addition, it modified the chest cycle to have one extra Giant Chest and one extra Magical Chest, at the cost of two Golden Chests.
 * On 4/7/16, the July update made a small tweak to Gold in chests. It also added a new type of Chest: the Tournament Chest, won by placing in the top half of a tournament.
 * Since you can hold up to 2 Free Chests, you can log in once every 8 hours to collect without losing any possible "Free Chest time". This also means you can get up to a maximum of 6 Free Chests per day.
 * Free Chests contain about the same rewards as a Silver Chest.
 * Wooden Chests can not be obtained by winning battles, except in the tutorial.
 * After winning the fourth match in the tutorial, it rewards you with a chest that guarantees you with an Epic Card.
 * Chests are not determined by chance, they are determined by a cycle.
 * The cycle does not advance if you have no empty chest slots. You must have a chest slot open to get the next chest and move forward in the cycle.
 * There are 180 Silver Chests, 52 Golden Chests, 4 Magical Chests and 4 Giant Chests in the 240 chests cycle.
 * Super Magical Chests are the only chests given by chance.
 * Instantly opening a chest always costs 1 Gem per 10 minutes, rounded up. Skipping longer waiting time doesn't decrease the gem cost divided by time.
 * There is a big jump from Arena 8 chests to Arena 9 chests. This fits as the trophy requirement has a big jump from Arena 8 to Arena 9 (2300 to 3000).
 * Because of the respective amounts, buying a Super Magical Chest can be considered as buying six Magical Chests at once (disregarding small differences due to rounding) and at a discount, as the Super Magical Chest's price is slightly lower than six times the Magical Chest's price at the same Arena, just like buying a wagon of gold can be considered as buying ten buckets of gold at a 10% discount.
 * The amounts of gold in Free Chests and Crown Chests are 7-8 times the number of cards they contain, while battle chests get 5-7 times as much gold as cards.

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