Formula 1: How to Bet and Read The Odds
Formula 1 is one of the most watched sports in the world. It seems like everyone has watched at least one race in their lifetime, and who hasn’t heard of the likes of Alonso, Schumacher, Hamilton, and co.?
So, as Formula 1 racing gets more and more popular every year, new and better ways to bet on sports open up. There are tons of different drivers and betting markets you can choose from if you seek to start wagering on any F1 race.
So, it might be difficult and confusing for newbies in the F1 betting market to get started, especially when you consider the countless betting opportunities.
If you are unsure where to start, then you have come to the right place. We at sportsbetting.io will provide you with a full guide on everything you need to know before you start wagering real money on Formula 1 races.
Brief History of Formula 1
Formula 1 has not been around as long as some other sports out there, such as football. However, that doesn’t mean that it is less popular.
On the contrary, when you consider the short history of F1, it is actually impressive to see the popularity levels of the sport these days. The Formula One World Championship is a very strong pacesetter in auto racing around the world.
So, even though the first edition of F1 races occurred in 1946, we can trace back the origins of the sport to the 1920s and 1930s. Back then, the European Grand Prix Championships took place.
Before World War II, different Grand Prix organizations came up with different F1 rules. Because of the war, the World Drivers Championship did not become official until 1947.
For that reason, the first race took place in the UK at the Silverstone Circuit on May 13th, 1950. Since then, technological advancements have hit the sport, and over time, F1 became a synonym for fast and exciting cars, as well as stunning races.
Formula 1 Rules
Before you start wagering on Formula 1 races, it is time to take a closer look at the rules of the sport. Every detail matters, so below are the main rules for each F1 race:
· Drivers have to adhere to F1 rules, such as rules of sportsmanship, technical regulations, and different penalties.
· All drivers have to have the following gear: helmets, shoes, gloves, HANS devices, and special race suits.
· Circuits are between 3-7 miles.
· Teams can have up to four drivers in a season.
· The race lasts no longer than 2 hours unless there is a suspension.
· Vehicles must be full of fuel before the race.
· Refueling is not allowed.
· If green-flag racing is active for 2 hours, the driver who first gets the first place.
· Drivers get points with each race.
· If there is a tie at the end of the season, the driver with the most race wins gets first place.
· Vehicles must meet a minimum weight.
· Race weekends are three-day events: two days of practice, qualifying and sprints, and the third day is the Grand Prix.
· Drivers get no points if less than two laps of green racing are completed.
· If less than 75% of the race is completed, drivers get fewer points.
Formula 1 in the USA & Around the World
Formula 1 has a global presence, and it is difficult to determine which country leads the way in terms of its residents watching it.
However, one thing is certain: F1 grows in popularity in the USA with each passing year. There are more than 1 million viewers on average per race among US citizens, which is very impressive, to say the least.
That number is expected to grow even more in the coming years, especially when you consider the past successes of US F1 drivers. Most notably, Mario Andretti and Phil Hill stand out as arguably the most popular Formula 1 drivers from the USA.
Apart from the US, the Netherlands also has a very high viewership of F1 races. The Dutch Grand Prix holds the fifth place of the most attended races in the F1 calendar, so that itself speaks volumes. Max Verstappen is probably the first name that pops to mind when speaking of Dutch F1 drivers.
Other honorable mentions include Italy, Great Britain, Belgium, Germany, Brazil, Mexico, and China.
Top Formula 1 Races, Drivers, and Venues
F1 is full of incredible drivers and races, so it might be difficult to start here. All you need to do is Google the best venues, and you will come across plenty of top-class choices. So, to save you some time on research, below is our list of the most exciting F1 venues you can look forward to during the season:
· Las Vegas Street Circuit – Las Vegas Grand Prix
· Albert Park – Australian Grand Prix
· Marina Bay – Singapore Grand Prix
· Miami International Autodrome – Miami Grand Prix
· Monaco Street Circuit – Monaco Grand Prix
· Silverstone – British Grand Prix
· Circuit of the Americas – US Grand Prix
· Autodromo Nazinoale Monza – Italian Grand Prix
· Autodromo Hermanos Rodruguez – Mexican Grand Prix
· Yas Marina – Abu Dhabi Grand Prix
· Spa-Francochamps – Belgian Grand Prix
· Red Bull Ring – Austrian Grand Prix
So, some of these venues are known to have hosted the best races in Formula 1 history. Once again, it is difficult to say which races are the best in history, but some of the most notable ones include:
1. Brazil, 2008 – this is arguably a race all F1 fans remember very well. There have been some close finishes to an F1 season, but this one went all the way to the very last corner of the very last lap. Massa won the title with an overtake, as he went head-to-head against a young Lewis Hamilton.
2. Australian Grand Prix, 1994 – a race that saw Damon Hill go head-to-head with Michael Schumacher. The latter had 92 points, while Hill had 91. Schumacher took the lead, but Hill got up to him, and the two collided, and Schumacher won the title in the end.
3. Canadian Grand Prix, 2011 – Jenson Button had a collision with Alonso and eventually snatched the win from Vettel on the final lap.
4. German Grand Prix, 2019 – the weather for this Grand Prix was chaotic, to say the least. However, even though all the ingredients of the race seemed to be a complete mess, Max Verstappen maintained his composure and calmness to win in a truly astonishing fashion.
Finally, now that you know some of the best venues and races from F1’s history, it is time to take a glance at the most successful and popular drivers. Here are the most successful drivers of all time:
· Lewis Hamilton
· Michael Schumacher
· Sebastian Vettel
· Alain Prost
· Ayrton Senna
· Max Verstappen
· Fernando Alonso
· Nigel Mansell
· Jackie Stewart
· Niki Lauda
Formula 1 Odds
Another factor that you need to consider before you start betting on Formula 1 races is how exactly the odds work.
Depending on where you live, different operators may have different ways of showing the odds, but at the end of the day, they represent the favorites and the underdogs in a race.
So, there are three kinds of Formula 1 odds that you might find at different sports betting sites:
· Moneyline odds – popular in the USA, are shown with (-) signs for the favorites and (+) for underdogs.
· Decimal odds – they simply show your winnings if you were to wager $1 on a Formula 1 event. As an example, if the odds are 2.1 on Hamilton winning the race, for every $1 you bet on it, you can get $2.1 in return.
· Fractional odds – shown with a slash between numbers, and they also show the amount of money you can win for every $1 you wager.
It is important to note that different bookies will have different ways of showing the odds for F1 races, but they are very easy to understand.
Popular Formula 1 Betting Types
Now, we can get into a bit more detail about F1 betting. Reliable bookmakers will offer you tons of betting opportunities for your Formula 1 bets. Thankfully, it doesn’t matter whether you are a newbie or an experienced pro in the Formula 1 betting world; there are plenty of opportunities for all types of punters.
With all that in mind, below is our list of the most popular Formula 1 betting types you can find at any reputable bookmaker in the world.
Podium Finish Bet
First off, we have the podium finish bet type, which is very self-explanatory. With this type of bet, you will need to wager on a driver to finish first, second, or third in the race.
It is important to note here that it does not matter exactly in which position the driver finishes, as long as it is in the top three. This is a very good bet for all newbies in the Formula 1 betting world, as it allows them to place a wager with minimal risk.
Prop Bets
Some of the most reputable sports betting sites will also offer additional prop bets. These bets are done on a race-by-race basis, and they are ideal if you follow the sport very closely.
You need good research if you are to place any prop bets, as you will bet on the success of a particular driver in the given race. Their outright finish will not matter, and some of the notable bets under this category include:
· Which driver will have the fastest lap
· Team of the winning driver
· Podium finish
· Top 6 finish
· Race winning margin
Future Bets
Up next, we have future bets, which are very popular among all sports, not just F1. The logic behind future bets is very straightforward: you need to wager on which driver you think will be the champion at the end of the F1 season.
That is just one of the future bets available, as you can also wager on who you believe will win the constructor championship, what the top three will look like, etc.
Some experienced punters would argue that the best time to place a future bet is at the beginning of the racing season. This is because you can usually get the best odds before the first race starts, but that doesn’t mean that things cannot change as the season progresses.
Live Betting
If you follow races closely all the time, then live betting may be the right type of bet for you. This way, you get to enjoy the thrills of an in-play bet on various Formula 1 races.
Keep in mind that quick decision-making is crucial with live bets. As you would imagine, odds in live betting change all the time as the race progresses, so you need to constantly reassess your judgments in the race.
As an example, all drivers in any F1 race must have at least one pit stop during the race to change their tires. So, if you follow Formula 1 closely, you might know when each driver can head to the pit stop, which can give you a nice advantage with your live bet.
Of course, if you think that the driver is making a pit stop at the wrong time, you might be best advised to wager against him. This is the time when it might be a good idea to place a bet on the driver’s rival in the race.
F1 Qualifying Betting
Moving on, we have F1 qualifying betting as another very popular bet type for experienced punters. To put it simply for newbies, the qualifying runs are based on a three-stage knockout structure.
Then, depending on how many cars enter it, there is a group of the slowest drivers who get eliminated in Q1, then another group eliminated in Q2. In the end, 10 cars remained in the race in Q3 to fight for the pole position.
So, you can always look at the odds for a pole position as a great betting market during the F1 qualifying round. If you follow qualifiers closely, you will have a nice general idea of which driver could potentially get to the pole position and eventually even win the upcoming race.
Outright Winner
Finally, we finish this list with arguably the simplest bet type for all Formula 1 races: the outright winner bet.
This is the most standard type of bet you can make, and you simply need to predict the winner of the given Grand Prix. There is always a clear favorite when betting on the winner of the race, but that doesn’t always mean that they will win the race. After all, that is the beauty of F1 racing.
Formula 1 Betting Tips
Before you start betting on F1 races, there is one thing you need to know: there is no way that you can use any strategy to guarantee winning bets.
Even though there are always favorites and underdogs in a Formula 1 season, surprises are not that uncommon. However, there are some general tips and tricks that we can recommend that can help you boost your chances of landing a winning F1 bet.
Know the Track
One of the vital things you need to be aware of when wagering on F1 races is the track itself. You need to know that each race in F1 is different due to the venue. All tracks have different styles and eccentricities that can surely affect any driver’s performance. As an example, if you know how certain drivers perform on a certain track, you can make much more informed decisions.
Watch The Practice and Qualifiers
Good research is key for all your F1 bets, and that goes all the way back to the practice and qualifying sessions. You can always bet on these rounds apart from the main Grand Prix race, but if you don’t, then make sure to watch them.
Practice and qualifying rounds can help you judge how certain drivers will look before the big race happens. Also, the results of the qualifying races can often have a big effect on the Grand Prix.
Check Out Future Plans of Teams
This is what we mean by this: F1 teams have limited resources during the season, and they might start developing the car for next season.
So, if their cause for the current season is lost, then teams might put all their resources into developing the car for the next campaign. As such, the performances in the current season will naturally suffer.
Check Out The Weather
This is an aspect that is closely connected to race conditions. You always need to check the weather before a certain F1 race, so you know better how the race can pan out.
The humidity, the air, and the track temperature may affect drivers’ performances. Knowing how certain drivers operate in different weather conditions can be crucial information for your bets.
How To Bet On Formula 1
Now that you have all the information you may need to start your F1 betting adventure, it is time to take a look at another important aspect.
If you are new to the sports betting world, you might feel like starting to bet on F1 races is a very complicated process. However, we at sportsbetting.io are here to assure you of the opposite. All you need to do is follow our short process below, and you can start wagering in no time.
Pick a Licensed and Safe Bookie
The first step in your F1 betting journey is to pick a reliable bookmaker. Once you open any bookie’s website, make sure to scroll down to the footer of the page and check whether it has a valid license from a reputable regulator. Regulators also ensure that licensees implement strong security features to guarantee the safety of your data and transactions.
Create an Account
Now, you can proceed with the short sign-up procedure. All good bookmakers in the F1 betting world will have a short and simple registration process. In it, you need to provide personal information such as name, email, address, password, username, payment method, currency, etc. This is a process that shouldn’t take more than a couple of minutes to get done.
Claim Your Welcome Bonus
If you choose a reputable F1 bookie, you are very likely to be welcomed with a nice welcome bonus for your first deposit. What type of bonus you get mainly depends on the bookie itself, but usually, you can expect a deposit match bonus up to a certain percentage and sum.
Start Betting on F1 Races
Now, the fun can begin, as nothing stops you from using the welcome bonus on F1 races. Take a look at the F1 offer you have at your disposal and choose an F1 race to bet on. Once you’ve done your due diligence on the race and drivers, you can place a bet and hope for a nice win early on.
Most Common Formula 1 Betting Mistakes
Besides the tips and tricks mentioned above, we would like to mention a few common F1 betting mistakes that you should avoid at all costs.
Not Knowing the Drivers in the Race
As mentioned above, research is key for every F1 bet you make. Therefore, you always need to know the drivers, their history with the race, and how they perform throughout the season. Check out every detail that might matter before you decide to bet for or against a driver.
Picking Favorites
F1 is a sport that always has favorites, but they don’t always win. It would be a very silly strategy if you decided to always back the favorites. Surprises do happen, and that is something you need to keep in mind when you place F1 bets.
Not Setting a Budget
Having control over your funds is vital for your long-term F1 betting strategy. So, always set a budget before you decide to wager on F1 races. A monthly budget will do just fine here.
Picking the Wrong Bookmaker
We already emphasized how important the bookie is for your F1 betting journey. Therefore, you always need to ensure that you have just the right bookie in terms of security aspects, odds, betting offers, etc.
Is it Safe to Bet on Formula 1?
Well, there is a very simple answer to this question, and it is closely connected to a couple of things mentioned above. For you to enjoy a safe Formula 1 betting experience, you always need to choose a licensed bookmaker. That is always the starting point for betting on F1 races.
FAQ
Where can I bet on F1 races?
Thankfully, there are various bookmakers all around the world that offer F1 betting markets. All you need to do is follow our guide on choosing the best operator, and you have nothing to worry about.
What should I know before placing an F1 bet?
There are plenty of aspects you need to pay close attention to, but good research on the track and the drivers is always vital.
How do I know that I have chosen a good F1 bookie?
You can find the license and the security information about a bookmaker on the footer of its page. If it has a valid license from a trusted regulator, you can proceed with betting.