Formula 1 is an annual event packed with full-throttle action and suspense. From the innovative car designs to the drivers that handle them with extraordinary resilience and control. It might feature its nail-biting moments at points, but when you watch your pick cross the finish line along with that bet you placed, there’s no other feeling quite like it. If you want to prepare yourself for the F1 season, check out this list of the most popular Formula 1 betting options you can choose to ramp up the excitement and winning potential.

Below are some of the most common betting markets you’re likely to come across in F1 racing and other sports. Note that each bet will come attached to different odds based on your wager and the statistics of the drivers/teams, etc. 

Driver Matchups

Driver matchups are one of the easiest bets you can place in motorsports. You simply select two drivers and bet which one will win the race. It doesn’t matter who else finished in the game or whether one driver you’ve picked actually finishes or not. As long as the one you’ve selected finished above the other, you win!?

Future Bets

These bets exist in most sport betting markets and entail placing a bet in advance of the race season. Gamblers are able to place wagers on which team or driver they think will be crowned the champion at the end. You can also bet on who you think will take first place for the Drivers Championship and Constructors Championship.??

First Lap Driver

This is a simple and easy bet placed on which driver you think will be in the lead after the first lap.?

H2H

A driver vs driver bet where you try to predict who out of the two will be more ahead in the races, as well as the end of season standings.?

H3H

Same as above only with three drivers in your betting selection.

Podium Finish

This is also similar to above, but works more like a 3-way forecast that you would expect to see in dog or horse racing. You select three drivers to finish on the podium in 1st, 2nd and 3rd place. It doesn’t matter what order they come in. As long as all three of your selections are there, you win the bet.?

Pole Position

This is a popular bet where you predict which driver will achieve the pole position during the first qualifying rounds of the Grand Prix.?

Prop Bets

Propositions are bets which you place on the less conventional outcomes of the race. This could be anything from the top 6 drivers to finish, the first driver to retire from the race, or which driver will be pulled up for speeding in the pit lane.?

Formula 1 Betting Tips and Strategies

There are roughly 19 weekends of racing hosted across the F1 season between March and November and 22 F1 Grand Prix. These events take place all over Europe and as far as Australia and Japan. When it comes to defining a good betting strategy to coincide with your predictions, there are a few things you’ll want to take into account. So long as your state allows you to gamble online and place bets through sports, you can apply these following tips to help maximize your chances when betting on any F1 race. 

Understand the Odds

The trick to giving yourself the best opportunity of winning your bets is to ensure you thoroughly research the odds of each event, driver or scenario you plan to wager on. Statistically, betting on a driver to win a specific race has the most favorable odds. That’s because you’re only counting on one selection to be the victor. The odds aren’t as difficult to establish with bets like head-to-heads, lap times or placing a futures bet on an entire season. You should also look at what your expected payout will be should you win your bet against such odds.?

Research Driver Form

Formula 1 betting

While you’re researching the odds, a good way to drill into this information is to look at the drivers’ and teams’ previous performance history. This will give you a good idea of how well they have done on certain circuits. Research their fastest laps, average time spent in pit stops, and how they perform against the opposition. Of course, one of the major things to look at here is how many championships and podium finishes they’ve achieved too. Use these details alongside official F1 data, race previews and statistics to better calculate your wagers.?

Look at the Grid Position

If you’re looking to place live bets throughout a race, it’s always a good idea to note the position you’re driver is in at the start of the grid. Naturally, a driver beginning at the top will have a higher chance of getting in the lead compared to someone at the back. This doesn’t necessarily mean they won’t achieve a points finish though. It very much depends on the track layout as well as the bends and turns. These are factors that can make overtaking a real challenge.?

Don’t Dismiss the Weather

Weather conditions can be a deal breaker when it comes to racing. The drivers will need to be able to adapt themselves to the wet and dry surfaces in order to give a strong performance. Again, this is why it’s always good to refer to their driving history. Because some might find racing in the rain a struggle. This is also especially worth taking into consideration if you’re looking to place in-play F1 bets on a race. Say — if it rains on the actual race day, is your chosen driver going to handle it well??

Conclusion?

If you’re familiar with the general sports betting world, you shouldn’t have any problems getting to grips with the different markets and methods used for wagering on F1. As long as you’re applying basic gambling knowledge that supports your knowledge of the sport – you’ll definitely have the advantage.

And if you’re into NASCAR betting, check out our guide to betting on NASCAR here.??

Nick Johnson is a lover of game theory and mathematics. After years as a quant on Wall Street, Nick stepped out of the fast lane to become a stay at home dad and write. After chasing the kids around all day and tucking his little ones in bed, Nick loves to relax playing in online Casinos and is a life-long poker enthusiast.