Bet on Formula 1 Online | Best Bookmakers 2023

Everything you need to know about Formula 1 Betting

Formula 1 betting requires wagering on the result of the races. Betting styles can be completed through online sportsbooks, betting exchanges, and traditional bookmakers. Bettors can test their money on which driver they believe will win the race outright, in addition to other challenges, including podium finishes, fastest lap times, and more.

There's no date for when betting on Formula 1 first started; however, it can be assumed that betting on the sport started at the inception of the sport itself. Something to note is that in a book called "A History of Gambling" by Tony Bloom, Formula 1 betting was mentioned, discussing how bettors have been betting on many sporting events for centuries, including racing.

So, Formula 1 bookmakers are believed to have begun in the 1950s. Since its inception, it has only become more popular as time has gone on, especially with the creation of internet-based sports betting.

Formula 1 betting is one of the most popular forms of sports betting around the world. Betting on the sport is one of the most popular bets globally, and bettors love to place wagers on their preferred drivers and teams.

How to Bet on Formula 1

Betting on Formula 1 can be as simple or as complicated as you make it, with the most straightforward Formula 1 bet being the race winner - this is called an Outright Bet. All a bettor must do is place a wager on a driver they believe will win.

Here’s the breakdown of betting:

Sign up with a betting site that offers Formula 1 betting and make a deposit.
Choose the Formula 1 event you wish to bet on.
Pick the Formula 1 driver or team you wish to bet on.
Select a stake amount.
Place a bet.

Bettors can also place wagers on a Podium Finish. This involves betting on the top three drivers or teams. It doesn’t matter what position any of the drivers finish in. So, if you place a bet using this style and a driver you chose gets first, you win.

Also, if your driver gets third, you win. Prevailing margin Formula 1 betting fans can also wager on how far in front a first-placed driver will beat the second-place driver.

There is also the Pole Position bet, which involves betting on who will start the race in pole position. This position is the closest to the starting line at the beginning of a race. It is a place that is earned, going to the driver with the fastest time in qualifying.

Another betting style is the Fastest Lap. This one is pretty simple: It is when bettors can wager on who they think will have the fastest lap. This can be based on past performance or how a driver performs in the present race.

While a significant payout for the underdog may be tempting, they are usually aren't rewarding. This is because Formula 1 is a sport where the favorites almost always win.

For example, Lewis Hamilton won nine races in the season in 2017. Meanwhile, Valtteri Bottashis, his Mercedes teammate, won three. This gave Hamilton the driver's championship and Mercedes the constructors championship.

Prestigious Formula 1 sporting events like Monaco Grand Prix or the Formula 1 World Championships are exceptionally great opportunities for all the bettors to place their bets.

Calculating Formula 1 Betting Odds

Calculating Formula 1 betting odds can be daunting for some bettors, but it can be relatively simple. To start betting on a Formula 1 race, a bettor must know the likelihood of an event occurring. Once the odds are known, a punter can utilize this number to estimate Formula 1 betting odds.

Factors For Odds in Formula 1

There are many factors that affect Formula 1 odds. For one, weather can be a huge determining factor for how a race will be held. If it’s a rainy day, this can affect traction of wheels, which then affects how fast cars can go and how fast they can go around turns.

There’s also the length of the circuit to be considered. For online Formula 1 betting, fans should also note that Formula 1 racing is typically held on tracks that are several kilometers long. This can affect how a driver may take the race, meaning whether they hang back and go for the win at the end, or try holding onto first place from the start. So, many factors can affect plans.

Bettors must also consider past performance of the drivers. Formula 1 betting fans can look at stats online to determine whether they may be successful. Has a driver had a losing streak lately? What kind of car are they using? What are the specs on the car? Formula 1 bettors should also consider the Formula 1 teams to determine who will likely win.

Considering these factors goes a long way in helping Formula 1 bettors make informed decisions regarding placing bets.

Formula 1 Futures Bets

Betting on futures means wagering on the driver or team you believe will wind up the champion at the end of the F1 season. In Formula 1, players can bet on which team they think will win the driver’s championship, and players can also wager on who they believe will win the constructor’s championship.

The best time to make this bet is before the commencement of the racing season, as some online Formula 1 betting site close the betting option when the first race begins.

Look for a Site with Excellent Formula 1 Live Betting Options

Enjoy the exhilaration of in-play betting for Formula 1, where rapid decision-making is critical. The distinction between live betting on F1 and other sports is that bettors constantly reassess their determinations on a race. In a race, drivers must make a pit stop at least once to switch their tires.

Anticipating when this may happen is an excellent way of giving yourself an advantage when live betting on Formula 1.

Commentators are likewise extremely helpful when considering Formula 1 races. Listening to experts will help bettors watch timings throughout the race. For example, if a bettor wants to know when a specific driver will take a pit stop, they can listen to this information over the drivers’ radios.

If a bettor believes that a particular driver is pitting at the wrong time, this could decide whether they bet on them. Moreover, on the flip side, it could be the perfect time for a bettor to support that driver’s rival in the race.

Qualifying Betting for Formula 1

There is a three-stage knockout for F1 qualifying runs. This can depend on the number of cars entered, if a group of the slowest drivers was eliminated in Q1, and then if another group of the slowest drivers was eliminated again in Q2, leaving ten cars to race in Q3 for the pole position.

Betting for a pole position is a great market to look at during Formula 1 qualifying. At this point, bettors would have had several chances to see a driver’s performance at the circuit during practice and should have a decent idea of which driver could potentially win the race.

Don’t Bet on Hype

Because Formula 1 is widely popular, it’s easy for a bettor to bandwagon on the wager of another better, believing that they must know the ins and outs if they’re betting on this sport. However, that’s not always the case.

It’s important for bettors to gain their own knowledge of the game and the current match-up and not follow what the crowd may be speculating. Just because the crowd may be cheering one name does not mean that’s who will win the match.

Key Takeaways

Consider live-betting and futures
Don’t bet on the underdog; stick to the champs
Evaluate your knowledge for the betting style that works best for you
Consider how weather may play a role for your driver’s car’s performance

Everything about Formula 1 betting