The FIA Formula One World Championship, or F1 as it’s commonly known, is a worldwide motor racing event for single-seat, open-wheel Grand Prix cars, which takes place each year.
Formula 1 is one of the most popular sports in the world, and betting on it is a great way to add excitement to the races. This guide will teach you everything you need to know about betting on F1, including what wagers you can make and how to place bets.
We’ll also give you a few tips for increasing your chances of winning. So whether you’re new to sports betting or an experienced bettor, read on for the inside scoop on F1 betting.
Tournament Structure for Formula 1
F1 is a high-octane, adrenalin-fuelled sport where the best drivers compete against each other in ultra-fast cars.
It is one of the most prestigious races in the world held on purpose-built circuits and public roads. The tournament structure of Formula One has changed many times throughout the years.
Races are typically held in 21 different countries on five continents, and the only two countries that will have two races in the 2022 season are Italy and the US.
The 2022 season was planned to have 23 races, but the Russian Grand Prix was cancelled due to the Russian attack on Ukraine.
The race schedule typically begins in March and ends in November, though this can vary depending on the location of the first race. Each race weekend starts with two free practice sessions on Friday and another on Saturday morning.
These are followed by qualifying sessions, which determine the starting order for the race.
Anyone wanting to bet on Formula 1 will wait for the main event, which takes place on Sunday afternoon. Points are awarded to the top 10 finishers, with the race winner receiving 25 points.
In addition, points are awarded to the driver who sets the fastest lap during the race, providing they complete at least 50% of the circuit.
At the end of the season, the driver and the constructor team with the most points are crowned world champions.
How Does Formula 1 Work?
Each team in F1 designs and builds its car, which must comply with strict regulations set by the sport’s governing body, the FIA (Fédération Internationale de l’Automobile). These regulations cover everything from the car’s dimensions to the type of fuel it can use.
The vehicles are then put through their paces at pre-season testing, where they are fine-tuned and prepared for the first race of the season.
The cars are designed to be as lightweight as possible, allowing them to reach speeds of up to 400 kilometres per hour! This is, among other tech, achieved by using monstrous 1050 horsepower V6 turbocharged engines.
The cars also have advanced aerodynamics that helps them grip the road and go around corners at high speeds.
Formula One bets are quite different from betting on other sports, as changes in F1 cars can significantly impact which driver adjusts better to new specs in the next season.
For instance, the V6 engine has been in use since 2014, but other parameters have changed, such as the inclusion of 18-inch low-profile tires, the use of more bio-sustainable fuel, and a redesigned chassis.
The races take place over a series of Grands Prix, held at circuits around the world. These circuits include famous locales such as Monaco Grand Prix, driven in the streets, and Monza, a famous Italian race track.
As mentioned, the main event takes place on Sunday and typically lasts around two hours. During the race, drivers have to make split-second decisions about when to brake, when to overtake, and when to pit. They also have to communicate constantly with their teams to ensure everyone is on the same page.
So next time you’re watching a Formula 1 race and devising your F1 betting strategy, remember that there’s a lot more going on than meets the eye.
From the design of the cars to the on-pitch tire changes and other pit stop fixes, there’s a lot of science and engineering behind these races, and that’s to say nothing about player skill and strategy!
Recent Formula 1 Winners
In recent years, Lewis Hamilton and Sebastian Vettel have dominated the Formula 1 Championship and have been the clear favourites across the betting markets worldwide.
Hamilton has won the title seven times, tying him with Michael Schumacher. However, he has more Grand-Prix wins in his career than Schumacher. Sebastian Vettel has won four championships, including four in a row between 2010 and 2013.
However, a few other drivers have managed to break up their duopoly in recent years. In 2016, Nico Rosberg won the title after a hard-fought battle with Hamilton.
Currently, in the 2022 season, Max Verstappen dominates the driver’s championship, and the best team is Red Bull Racing.
How to Bet on Formula 1?
Placing bets online is the most convenient way to bet these days. The first thing you need to do is find a reputable online sportsbook that offers Formula 1 betting.
Once you’ve done that, you’ll need to create an account and deposit funds into it. After that’s done, you’ll be ready to start placing bets.
For those looking to add an extra level of excitement to the Sunday race, some fun bets can probably do the trick. There are a few things to remember when placing a bet, such as the bet type, the odds, and the race schedule.
F1 Betting Types
There are a few different types of F1 bets that you can place. Some basic types of bets also apply to Formula 1. Here we’ll cover the most common ones that F1 fans like to put on their betting slip.
The most common type of bet is outright betting, where you pick which driver will win the race.
Such bets are most straightforward, and drivers like Max Verstappen or Lewis Hamilton have the highest odds of winning and, thus, the lowest payouts. Depending on the driver and car’s performance, these odds will change during the season.
Podium Finish Bet
A podium finish bet is more forgiving than the outright winner bet, as it has more room for error. You are betting that a driver will finish in first, second, or third place.
There’s no difference in payout depending on the driver’s position, and you’ll win the bet if the driver finishes among the top three spots.
Prop bets are offered by some sportsbooks and can include betting on the team to win, whether the safety car will come out during the race, the country of the winner, or a top-ten finish for a given driver.
One of the more exciting Formula 1 bets is the one on the fastest lap. As the name suggests, it entails guessing what driver will have the best lap time during the race. The driver doesn’t have to finish in any specific place. However, racers are additionally motivated to give their best shot at driving a perfect lap, as the one with the best time also gets points.
F1 Qualifier Bets
You don’t have to bet only on the main race, and qualifying sessions are a great way of getting used to F1 and betting on race outcomes.
Qualifications are not only crucial for winning the pole position but have a strategic value as well. A team that pulls off a “one-two”, where drivers from the same team are in the first and second positions, can work together to block other drivers from overtaking them.
Having two cars in pole positions gives the team a significant advantage, and F1 bet tips usually recommend taking advantage of such situations.
Formula 1 Live Betting
Most sportsbooks offer live betting for F1. Remember that live betting situations in Grand Prix races are very different to those in team sports like football, basketball, or even individual ones like tennis.
Guessing correctly when the drivers will take a pit stop and how many times they’ll do it will be a significant advantage as a bettor.
Just as the drivers need to know about their fuel capacity and other factors that determine when it’s best to make a pitstop, knowing how the drivers think and what their cars are like will help you make more informed bets.
While watching a live race, you’ll also have the opportunity to hear the conversation between the driver and the rest of the team, which can greatly influence your bet.
You can bet on the F1 championship like on every other major sports event. The most common futures bets are what team will win the constructor’s championship and what driver will win the driver’s championship.
Remember that you might need to place such a before the season starts, as many sportsbooks close futures betting after the first race of the season starts.
F1 Each Way Bet
An each-way bet consists of two parts – a win bet and a place bet. A place bet is when you predict that your driver will finish in a predetermined position, such as third place in the race.
The driver doesn’t need to win the race outright as you would win a portion of the bet if he places in a predetermined place, and then you get a fraction of the winnings based on the place you’ve bet on.
For example, if you’ve placed an each-way bet on the second place, you would receive 1/2 of the winnings.
The odds for each way are lower, but it’s a much safer bet.
Enhanced Win F1 Bet
An enhanced bet is a type of bet where odds are boosted. The same principle works with F1 bets.
If you like betting on Formula 1, you’ll be happy to know that enhanced bets can be found at almost all of the top sportsbooks, as it’s a great way of attracting new customers and keeping the old ones interested.
There are two types of enhanced win F1 bets:
This is when the odds are increased only for a short period, usually just before the race starts.
These are offers that sportsbooks create to keep their customers engaged. For example, they can offer free bet stakes if your driver doesn’t finish in the first three positions.
Formula 1 Betting Tips
Formula 1 is one of the most popular sporting events in the world, and many people enjoy betting on the outcomes of its races. However, it’s easy to lose money recklessly if you’re not careful. To help you get the most out of your betting, here are some tips:
Do your homework before placing a bet. Research the drivers, teams, and tracks, look at the current form of drivers and compare their recent performances. This will give you a good idea of who is likely to win or lose in any given race.
Advanced F1 betting strategies rely on knowing which driver is more comfortable with which weather conditions, particular circuits, or many other seemingly small factors.
Don’t be afraid to shop around for the best odds. Different bookmakers will offer different odds on the same races, so it pays to compare prices before placing your bets.
Try to spread your bets across different races rather than putting all your eggs in one basket. This way, even if you don’t win big in a single race, you’re still more likely to come out ahead in the long run.
Don’t get too caught up in the hype. Just because the media are hyping up a driver doesn’t mean they’re a sure thing. Remember, anything can happen in Formula 1 racing, so always bet with caution.
By following these tips, you can maximise your chances of making a profit from a Formula 1 bet.
How to bet in Formula 1?
When it comes to betting on Formula 1, you have a few options. You can bet on the winner of a race, the qualifying results, or, for example, the championship standings at the end of the season.
Due to the sport’s popularity, almost all sportsbooks include F1 races in their betting offer, so you can even shop around for the best odds on your bet.
What is an each-way bet in F1?
Like in horse racing, you can place an each-way bet on F1 drivers. This is a two-part bet, consisting of a win condition and a place condition. The place part is when you predict that your driver will finish in a predetermined position.
What is an enhanced win F1 bet?
Some sportsbooks may offer better odds on some races, usually as part of a promotional offer. These are called enhanced win bets, and they typically offer higher odds than the standard bets.
Is F1 betting profitable?
Yes, it can be profitable if you approach it with caution and do your research well. However, as with any form of gambling, there is always a risk.