How to Bet on F1

Max Verstappen might be winning just about every race under the sun, but that doesn’t mean Formula 1 is lacking in savvy betting opportunities. With loads of history, intriguing added dimensions such as track styles and midseason upgrades, and fast-paced high-octane action, F1 is a great sport for bettors no matter how competitive the top of the field is.

In this F1 betting guide, we’ll be going over how to bet on F1 turn by turn, all while giving you the knowledge you need to not just place bets but to do so in an analytical and financially responsible manner.

How to Read Formula 1 Odds

Don’t worry everyone, F1 might be a global sport with races in five continents, but the betting lines still read the same as any of the popular American sports you might be more accustomed to.

If you aren’t familiar with the standard American odds format, it works like this. American odds are displayed with a plus (+) or minus (-) sign followed by a number (-110, +200, etc.). The + and – are used to represent the underdog and the favorite respectively.

The numbers are a little more tricky. When talking about an underdog, the number represents the amount of profit you’d make on an $100 bet, and for favorites, it’s the amount of money you’d have to bet to make $100 in profit.

Let’s take a look at a quick example. At the Monaco Grand Prix, Max Verstappen might have odds of -250 to win. This means that a $250 bet would net you $100 in profit. In this same race, Alex Albon might have longshot odds of +2500 to win. This means that an $100 wager on Albon would net you a whopping $2500 in winnings if he pulled off the upset.

How Do Sportsbooks Set F1 Betting Lines?

When setting betting lines on motorsports, sportsbooks go far beyond the F1 for beginners guide. Basically, if there’s a data point that can influence the outcome of a race, expect the sportsbook to know about it most of the time.

Let’s go through a few of the most influential factors that bookmakers use to set lines that you can keep track of as well.

The first, and most obvious, is driver and team performance. How well teams or individual drivers are performing in the weeks leading up to a big race will often tell you a lot about their future prospects. But, don’t be fooled, poor finishes don’t always indicate a poor result. Sometimes issues on the track can be out of a driver’s or even a team’s hands.

Next is the track itself. One of the best parts of F1 is how different tracks offer different styles of racing, which gives advantages to specific drivers. Sportsbooks are always taking account of this to set fair lines on underdogs who might perform well on specific circuits.

Weather conditions can also play a major role in setting F1 betting lines. Rain is just a fact of life in motorsports, and it’s something that certain drivers have learned to adapt to better than others. When rain is in the forecast, sportsbooks know who to favor and who not to based on past experience.

F1 Sports Betting Examples

One of the best aspects of F1 betting is how many options you have in terms of unique markets. While this is certainly a great feature, it can make it challenging for beginners to understand all the options they have.

To help you out, we’ve put together examples of all the most popular unique F1 bet types you’re likely to come across.

To-Win Bets

In Formula 1, to-win bets are as straightforward as they come. You’re essentially picking the driver you believe will clinch victory in the race, irrespective of other variables. While some F1 seasons may appear predictable due to the dominance of certain cars or drivers, they present an enticing opportunity for upsets.

Take the example of Jenson Button, known for his exceptional skills in wet conditions. Regardless of his car’s performance, placing a to-win bet on him when rain was forecasted could be a prudent move, considering his prowess in those conditions.

These bets are the classic choice for those who have a strong hunch about a particular driver’s potential on a given race day. They often have competitive odds and provide a direct way to root for your favorite driver. This is the F1 equivalent of the moneyline bet.

Podium Finish

Predicting the outright winner in a Formula 1 race can sometimes be challenging, especially during dominant seasons by specific teams. Podium finish bets provide a more flexible alternative. To secure a win with this type of wager, your selected driver only needs to finish within the top three positions.

These bets are appealing for several reasons. First, they expand your options. Instead of pinning your hopes on a single driver’s victory, you have a broader field to work with. This can be particularly beneficial in F1, where races are filled with uncertainty and variables. It’s also advantageous in seasons where one team’s dominance makes winning bets less attractive due to low odds.

Consider the example of the legendary Lewis Hamilton at Silverstone. He has won at this track a record eight times, making him a strong contender for a podium finish even in a less competitive year for Mercedes.

Driver Matchups

Driver matchups in Formula 1 are akin to to-win bets but zoomed in on a pair of drivers. These bets enable you to pit specific drivers against each other, including teammates. Driver matchups offer a way to make races that might otherwise be less exciting more engaging.

In F1, it’s common for a few teams to dominate the front positions. This can lead to somewhat predictable outcomes in terms of the race winner. However, delving into driver matchups allows you to explore other aspects of the race.

For example, a head-to-head matchup between McLaren teammates Lando Norris and Oscar Piastri during the Monaco Grand Prix would allow you to exploit your knowledge of their skills and the unique challenges of the circuit. If you believe Piastri excels on tight corners, you can predict he’ll finish ahead of Norris in this specific race.

Fastest Pit Stop

Fastest pit stop bets offer a unique and entertaining angle for Formula 1 betting, delving into a typically overlooked aspect of the race. Pit stops are critical moments where precision, efficiency, and split-second decisions can significantly impact a driver’s performance. Betting on the fastest pit stop essentially means wagering on which team will execute the most flawless pit stop, a factor beyond the driver’s control.

While many novice bettors focus solely on drivers and race outcomes, experienced enthusiasts understand that rapid, well-coordinated pit stops are often the hidden secret to success. The smallest advantage gained during a pit stop can be the difference between a podium finish and a mid-pack result.

Let’s look at the current season where Red Bull’s pit crew has consistently demonstrated excellence, constantly delivering the fastest pit stops in the field. This exceptional performance has not only boosted Red Bull’s drivers but also made them prime contenders for the fastest pit stop in every race. Although, we have to give McLaren an honorable mention since they recently set a world pit stop record at the 2023 Qatar Grand Prix.

Prop Bets

Prop bets offer a chance to diversify your F1 betting portfolio and engage with the sport on multiple levels. They open up opportunities to analyze not just the race’s outcome but also specific moments or occurrences that can impact the overall spectacle. F1 prop bets can cover a wide range of options, including whether a driver will finish in the top six, score championship points, trigger a Safety Car period, or even record the fastest lap.

Let’s transport ourselves to Jeddah for the Saudi Arabian Grand Prix. Jeddah is renowned for its high-speed track, but it’s also known for spectacular crashes due to its challenging layout. The likelihood of a Safety Car period during the race is relatively high. Betting on this prop would mean placing your wager on the occurrence of a Safety Car, capitalizing on your knowledge of the track’s challenges.

Pole Position Bets

Understanding how F1 qualifying works is essential to making informed pole position bets. F1 qualifying is typically divided into three stages, systematically reducing the field to determine the starting order for the race. The driver who secures the best time in the final qualifying stage wins pole position, granting them the coveted front spot on the starting grid.

The art of pole position lies in a driver’s ability to extract the utmost performance from their car in a single, high-pressure lap. The specific characteristics of each circuit significantly influence the chances of drivers and teams, as some tracks favor high-speed capabilities, while others require exceptional handling and cornering.

For instance, the Azerbaijan Grand Prix in Baku features long straights that emphasize top-speed performance. If you believe that a driver in a car with exceptional straight-line speed, such as Charles Leclerc in the Ferrari, will make the most of these conditions, then he becomes a compelling candidate to secure pole position.

Futures

Think of making a futures bet in Formula 1 as a long-term investment. Instead of focusing on an upcoming or ongoing race, you’re projecting outcomes that extend into the distant future. In the realm of F1, futures bets typically revolve around the Drivers’ and Constructors’ Championships, which are awarded to the fastest driver and team over the course of the season.

Let’s say Max Verstappen’s championship odds are at +150 at the beginning of the season. This positive number might surprise you, but it indicates a potentially lucrative opportunity. You decide to jump aboard the Max Verstappen bandwagon early, betting on him to secure the drivers’ championship before the season even kicks off.

Parlays

Parlays add an exciting dimension to Formula 1 betting that involves bundling multiple bets, often spanning various types, into a single, multi-leg wager. The allure of parlays lies in the promise of boosted odds and the potential for substantial payouts. However, they come with an elevated level of risk, as every component or “leg” of the wager must hit successfully for any winnings to materialize.

Let’s dive into the opening race of the Australian Grand Prix as an example. A four-leg parlay might include bets on Max Verstappen to secure the race victory, a McLaren driver to clinch a podium spot, the prediction that at least one Safety Car period will occur during the race, and Aston Martin to execute the fastest pit stop.

Live Betting

Unlike traditional betting, where you lock in your wagers before the race commences, live betting allows you to adapt to the real-time developments of the event. The odds are in a constant state of flux, responding to the race’s current status, including factors like standings, laps remaining, and any emerging variables like changes in weather.

Imagine you’ve placed an initial bet on Max Verstappen to win the Las Vegas Grand Prix. However, as the race progresses, you notice Verstappen’s performance faltering after lap 20, possibly due to an issue with his car. With live betting, you have the opportunity to adapt. You decide to hedge your initial bet by placing new wagers on Carlos Sainz, who is rapidly gaining ground and appears to be a stronger contender.

F1 Betting Tips

With all the F1 betting examples you’ll ever need, the checkered flag is within sight. But, before we set you loose on the track to start placing bets, we have a few words of wisdom that you need to hear.

These F1 betting rules aren’t necessarily going to net you never-ending riches, but they will help you build a long-term foundation for sustained success through smart decisions and shrewd money management.

Keep Tracks In Mind

In Formula 1, the track isn’t merely the stage; it’s a dynamic, integral part of the race that can redefine the outcome. Each circuit boasts unique characteristics, from the high-speed straights of Baku to the challenging twists of Spa.

To excel in F1 betting, it’s vital to understand these nuances. Analyzing each track helps you align your wagers with a driver’s strengths, potentially giving you an insider’s advantage. By tailoring your bets to the specific demands of each course, you can navigate the ever-changing terrain of F1 races with a more strategic and informed approach.

Have Multiple Options

Navigating the intricacies of F1 betting demands flexibility and diversity. Rather than staking everything on a single contender, consider a multifaceted approach. Distribute your prop bets across four or five drivers to increase your chances of success. While this strategy might not lead to overnight fortunes, it provides a foundation for consistent and viable profits over time. It’s especially valuable for podium bets, where a wide array of drivers may have a shot at a top-three finish.

Dreams are Made on Teams

In F1, teamwork is far more than just a collaboration; it’s a critical element that influences race outcomes. Before placing your bets, delve into the dynamics of the teams and their history of coordinated efforts. A cohesive and efficient team can provide that extra push to propel their driver to victory, while a team plagued by strategic blunders can hinder even the most skilled drivers.

Ferrari’s recent woes serve as a stark example of this, where they’ve fallen out of favor in multiple races thanks to unforced errors.

Rain is the Great Equalizer

Sometimes, the thundering skies above can completely flip the script. Rain can transform a predictable race into a chaotic showdown of skill and strategy. Before finalizing your bets, it’s prudent to consult the weather forecast.

Rain has the power to level the playing field, disrupting established hierarchies and enhancing the uncertainty of the race. When the forecast predicts rain, these races offer opportunities for riskier bets, as it introduces unpredictability, potentially enabling underdog drivers to secure surprising podium finishes or even race victories.

We’re Talking About Practice

Contrary to Allen Iverson’s famous quote, in the world of Formula 1, practice sessions are not only essential but also a goldmine of valuable insights. For F1 betting, these sessions are not merely preparation; they offer a treasure trove of information.

Practicing isn’t just about turning laps; it’s a chance to gauge a driver’s potential and form. Look into the practice timesheets to uncover standout performances and potential dark horses that you might otherwise have missed. If a driver consistently dominates practice with impressive lap times, it’s a strong indicator that they might be poised for a remarkable race day.

Context is the Key

In Formula 1, as in any motorsport, understanding the context is vital for successful betting. While every driver and team aims for maximum speed in every race, specific circumstances can lead to different strategies. If one driver in a team is gunning for the championship, their teammate might be tasked with disrupting opponents, even if it means sacrificing their own chance of winning.

Being aware of these nuances helps you navigate the unpredictable world of F1 racing. Knowledge about team dynamics, rivalry, and strategy can be the key to avoiding potential pitfalls and making more informed betting decisions.

Always Set A Budget

Having a budget is crucial, especially for beginners. Establishing how much you can afford to bet and adhering to that number regardless of outcomes provides financial discipline. This practice not only helps you manage your finances effectively but also prevents you from wagering more than you can comfortably afford to lose.

To ensure that you have a bankroll for the entire season, consider allocating a fixed amount for weekly or monthly betting. Responsible budgeting is a vital step for all bettors, as it safeguards against excessive or impulsive betting, promoting a more sustainable and enjoyable betting experience.