I've only used plywood, to be honest. Works decently well, but never tried chipboard.

The choice depends on your preference and the task at hand, but chipboard is a great material that you shouldn't disregard. Take a look at https://sheetmaterialswholesale.co.uk/sheet-materials/chipboard/ when you have a spare minute, these guys sell chipboard pretty cheap. I think you'll definitely like the increase in technical properties it has over regular plywood, which is why it was created in the first place.