Formula 1 Betting Guide: How to bet on F 1
Formula 1 is a sport that has grown in popularity around the world in recent years and the number of ways in which you can bet on the races is also increasing.
If you thought the only option available is to bet on which driver wins each race you would be way off, as a host of other markets are now available for each round of the world championship.
Here is our handy Formula 1 betting guide to help you make informed decisions.
Betting on the F1 world championship
The F1 world championship has not been the most exciting market in the last few years, with Max Verstappen’s wide-margin wins in 2022 and 2023 following a dominant spell by Lewis Hamilton, but the title race went down to the wire in 2016 and 2021, when betting on the outcome proved to be almost as thrilling as the races themselves.
Odds are available soon after the previous season is completed and updated after each race once the action begins. Bettors can also bet on the constructors championship, which is based on the points totals for both drivers in each team.
Types of Formula One bets
The majority of Formula 1 betting takes place on each of the world championship rounds which take place around the globe. In 2024 there will be a record total of 24 races, taking place at locations including Australia, China, Las Vegas and Abu Dhabi.
Before we even get to race day, you can bet on who the fastest driver will be in each practice session and there are also a wide range of markets available for qualifying, including qualifying match bets, where you can bet on one driver to set a faster time than another in a head-to-head contest regardless of where they both are on the grid.
On race day the options become even more plentiful, so here are some of the markets you may wish to consider when betting on Formula One:
Race Winner: This is the easiest one to understand with Formula 1 betting – you are betting on which driver will win the race, with each-way terms available usually at either one-fifth the odds for the top three places or one-third of the odds for the top two depending on the competitiveness of the race.
Podium Finish: Here you are simply backing a driver to finish in the top three in the race without the extra reward if they win the race, but also without the additional stake of the win part of an each-way bet. You might want to take this option when you think a driver can finish second or third but is unlikely to win.
Top-six or points finish: As the name suggests, in Formula 1 betting, you can also bet on drivers to finish in the top six or to finish in the points, which are awarded to the top 10 drivers in each race. This offers a suitable bet when you expect a good performance from a midfield driver who has no realistic chance of making the podium.
Match bets: Like the qualifying match bets, here you are backing a driver to beat a rival in the race, regardless of where they finish in the field. An 18th-place finish will be enough to win if the other driver comes 19th, but fourth place would lose if the opponent finishes second.
Forecasts: These allow you either to predict the drivers who will finish first and second in an exact order (straight forecast) or either order (dual forecast) and offer better rewards than a straight win bet.
Winning margin: Bet on how far the winning driver is ahead of the closest rival.
Fastest pit-stop: Even the pit crews are competing with each other and you can bet on which team will deliver the fastest pit-stop for their driver.
First retirement: You don’t have to just bet on drivers to do well as markets on the first driver or team to drop out of the race are also available.
Formula 1 Betting: What should I be looking for when betting on F1?
As with betting on any sport, your assessment of what to bet on will improve the deeper your knowledge of the sport becomes.
Track Performance: F1 is a sport in which some teams and drivers can fare particularly well at certain tracks but badly at others. For example, the one weakness in the Red Bull over the last couple of seasons has been at street circuits, where its aerodynamic advantage is not so large. This was seen when Carlos Sainz won the Singapore Grand Prix for Ferrari in 2023 and again in Australia in 2024.
Car Upgrades: Knowing when teams have upgraded their cars can also help. For example, McLaren burst into life at Silverstone in 2023 with an upgraded car after a slow start to the season.
Practice Sessions: Paying attention to the practice sessions is valuable too when it comes to Formula 1 betting. Don’t pay too much attention to the bare times as teams are experimenting with set-ups and fuel levels are not known, but reports of which teams experts at the track believe looked good and driver comments after each session can provide useful clues.
Weather: Being aware of any changes to the likely weather conditions is also essential, a downpour at the start of the race can make grid positions far less relevant and rain brings outsiders into play.
Live betting: Once the race begins, in-play Formula 1 betting also offers a reward to those who can read a race well and back a driver who looks capable of making a move through the pack.
Please note that the information provided in this article is for entertainment purposes only. We do not guarantee the accuracy, completeness, or reliability of the information provided. Any action you take upon the information on this article is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of our article. We do not encourage gambling and remind you to gamble responsibly.
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