How to bet on Formula 1

Betting on Formula 1 racing hasn't been that difficult so far this season.

With only four different drivers winning the first 10 races, betting on Sebastian Vettel in every race would have made you some profit. However, choosing the winner in the four races that Vettel did not win would have made you a whole lot more money.

Obviously when it comes to betting on F1 racing, wagering on the race is most popular with bettors. Betting on F1 races may not have been too challenging this season with Vettel dominating the circuit so far but his domination has also led to low odds.

Winning a bet on Vettel at 11/8 won't do much for your bankroll, but lucking out on a win by Lewis Hamilton, Mark Webber or Jenson Button when they're listed with odds like 4/1, 9/2 and 14/1 would be much kinder to your bankroll.

Sure, winning on F1 this year may not seem too hard, but making any real money has been. [ See the latest F1 odds in Europe at Bet365 ]

While choosing the outright winner in F1 this season being a bit of a letdown, it has made matchups a more appealing bet. In an F1 matchup bet, the sportsbook selects two drivers and the bettor must determine which driver will post the better finish in the race.

Matchup odds on Vettel are still low, but there are some exploitable matchups if bettors know where to look. Searching for the best matchup odds can mean the difference between making pennies or big dollars on race day.

Formula 1 future betting is still pretty rare at most sportsbooks this season due to Vettel's big lead, but you can still find some books offering odds on the Formula 1 World Championship.

If you can find odds taking a flyer on another driver is never a bad idea because Vettel hasn't clinched it yet. Some books also offer futures odds on the constructor’s championship, although those are very rare as well this season with RBR Renault running away with the title.