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How To Bet On Formula 1: A Formula 1 Betting Guide

While NASCAR may be the most popular form of motor racing in the United States, Formula 1 racing has a bigger following worldwide. F1’s popularity has been steadily growing in America, and with that popularity comes additional betting interest, which is why it’s important we help you better understand how to bet on Formula 1.

How Can I Bet on Formula 1 Online?

#1: Pick a Betting Site

Sportsbooks are the online gambling sites sports bettors go to to bet on Formula 1. All of our Formula 1 betting sites are safe, secure and trustworthy. These sites meet all of Odds Shark’s criteria.

You’ll find numerous places to bet on Formula 1 online. Test-drive our Formula 1 sites page, and steer your way to a sports betting website that fulfills all your F1 betting needs.

See Odds Shark’s Best Formula 1 Sites

#2: Sign Up

Registering requires a name, email, deposit details and birth info. Once a confirmation email or link has been sent and the sign-up process has been taken care of, you may proceed with your first Formula 1 wager.

#3: Make a Deposit

Many online gambling websites accept credit cards like VisaMasterCard and AMEX, e-wallets like PayPalNeteller and Skrill, and debit. Some online sports betting websites will let you make deposits by taking cryptocurrency such as Bitcoin, Litecoin, Dash and Ethereum.

#4: Place a Bet

Select the Formula 1 race, the driver, the bet type, the dollar amount, and submit your Formula 1 ticket.

Now you can max out all your Formula 1 bets, and coast through that F1 betting finish line!

Basic Odds and Betting Options

Formula 1 Grand Prix events are usually separated by a span of one to three weeks throughout the course of the F1 season.

Outright Bet: Formula 1 Grand Prix Race Winner

The most standard type of wager on these races is simply a bet on which F1 driver will win the race. There is usually a clear favorite such as Lewis Hamilton going off at something like -150 to win the race (bet $150 to win $100) while others in the field, like Max Verstappen, go off at anywhere from +200 (bet $100 to win $200) up to astronomical betting odds of 5000-to-1 on the huge underdogs.

Podium Finish Bet

A podium finish bet is when a bettor wagers on a driver to finish in either first, second or third place. It doesn’t matter which of these three positions the driver finishes in. If you make this bet and your driver finishes first, you win your wager. If you make this bet and your driver finishes third, you still win your wager.

There are no differences in winnings based on where the driver finishes, so long as the driver finishes in the top three.

Prop Bets

Some sportsbooks offer additional props on a race-by-race basis, including:

  • • Which car will win the race?
  • • What country will the winner hail from?

As far as constructor success goes, Ferrari has participated in every World Championship since 1950, having featured in over 900 Grands Prix.

Futures Bets

Futures are wagers on which driver or what team will wind up the champion at the end of the F1 season. In Formula 1, you can bet on which team you think will win the driver’s championship, and you can also wager on who you believe will win the constructor’s championship. The best time to make this bet is prior to the start of the racing season because some betting sites close the action as soon as the first race begins.

Live Betting on Formula 1

Enjoy the thrill of in-play betting on Formula 1, where quick decision-making is essential. The difference between live betting on F1 and some other sports is that you’re constantly reassessing your judgments on a race. All drivers must make a pit stop at least once during a race to change their tires. Predicting when this might happen is a great way of giving yourself an advantage when live betting on Formula 1.

Commentators are also very valuable when viewing Formula 1 races. Listening to these experts will help you monitor timings throughout the race. If you want to know when a specific driver is going to take a pit stop, you can listen to this information over the drivers’ radios.

If you believe that a particular driver is pitting at the wrong time, this could be the deciding factor as to whether or not you bet on them. And on the flip side, it could be the perfect time for you to back that driver’s rival in the race.

F1 Qualifying Betting

The F1 qualifying runs as a three-stage knockout. Depending on the number of cars entered, a group of the slowest drivers is eliminated in Q1, and then another group of the slowest drivers is eliminated again in Q2, leaving 10 cars to race in Q3 for the pole position.

The odds for pole position is a great betting market to look at during Formula 1 qualifying. At this point, you would have had a number of chances to see a driver’s performance at the circuit during free practice, and should have a pretty good idea on which one could potentially win the race.

Formula 1 Betting Strategies and Tips

While a huge payout on the underdog may look tempting, they are usually a waste of time. Formula 1 is a sport in which the favorites almost always get the job done. In 2017, Lewis Hamilton won nine races on the season while his Mercedes teammate Valtteri Bottas won three, giving Hamilton the drivers championship and Mercedes the constructors championship. Back in 2014, only three drivers were able to earn wins all season long:

  • Lewis Hamilton (11)
  • Nico Rosberg (5)
  • Daniel Ricciardo (3)

Generally there are only going to be about four to six cars and drivers that have a realistic chance of winning on any given race day. One way to find value is to avoid overvaluing the pole position.

Earning the pole does give the driver in the lead a big advantage over the field as he is able to navigate the course without any cars ahead of him from the get-go. But despite this advantage, the driver with pole position only wins about 40 to 50 percent of the time. While this is significant, it isn’t necessarily worth paying huge chalk for.

Often there is more value to be found in betting on an excellent driver off of the pole at +300 or +800 instead of always betting on the huge favorite who starts with pole position.

Where Can I Find a Suitable Sportsbook?

Because F1 racing is a niche sport in the United States, some sportsbooks don’t offer any betting options for it outside of simply who is going to win the race. If you are interested in and still learning how to bet on Formula 1 racing, you will definitely want to shop around.

Look for an online sportsbook that not only gives you more betting options, but also gives you the best price on your wagers before betting online. The difference between betting a winner at +225 or +300 can add up in a hurry.