Formula 1 Betting: Layout, Prop Bets, Future Bets & Betting Tips
Formula 1 is the largest racing league in the world, and this will never change. The league is watched by people in hundreds of countries, which means lots of bets come in on Formula 1. However, if you have ever wondered what is Formula 1 betting, you are not alone.
Most bettors stick to traditional sports like football, baseball, hockey, and soccer. Although, due to Formula 1’s popularity, bookmakers focus a lot of attention on the racing league. There is much more money wagered on Formula 1 compared to NASCAR and IndyCar, and this can be seen with the number of betting markets for the sport.
If you are wondering what is Formula 1 betting and are interested in getting involved with the sport, you have come to the right place. Throughout this guide, we will teach you the ins and outs of betting on Formula 1. It’s not an easy sport to start betting because there are a lot of components that you should know, but once you gain knowledge, you can win a lot of money on the sport.
Formula 1 Layout
Before we can answer what is Formula 1 betting, it’s important to understand the general layout of the sport. This is critical for you when betting because if you do not understand how things work, it will be very tough for you to prevail over the house.
The Formula 1 season begins in March, and races are run nearly every weekend through December. This can explain the popularity of the sport because the season is very long. Formula 1 does give the drivers a break during the season, but there are close to 30 races in any given year. These races take place in a variety of countries, including Bahrain, Italy, Portugal, Spain, France, Austria, England, Belgium, Mexico, America, Saudi Arabia, Abu Dhabi, China, Japan, and many more.
Formula 1 is a truly international sport, which is clear when you look at the schedule. The racing league is a team and individual sport. There are ten teams, and each has two drivers. The teams rotate frequently, but a few of the mainstays have been Mercedes, Ferrari, Red Bull, Williams, and McLaren.
Understanding the Drivers’ Championship and its Significance in Formula 1 Betting
In Formula 1, you can bet on a variety of markets, but two of the most popular are the Drivers’ Championship and Constructors’ Championship. The Drivers’ Championship reflects the best racer in the sport over the season. Typically, the champion has the most wins and podium finishes.
The Constructors’ Championship is where the team aspect comes into play. This is scored off the combined score of a teams’ drivers. Formula 1 is a sport predicated on money, so rich teams have a much better chance of winning this award. Mercedes has been one of the best teams in the entire sport over the years in this category.
The intricate racing rules are not as important to understand for betting knowledge. If you are wondering what is Formula 1 betting, we can now get into some of the markets. The point to take from this section is that there are weekend races for the majority of the year. Formula 1 consists of ten teams with two drivers, and there are team championships as well as individual driver awards.
Formula 1 Bets
If you want to know what is Formula 1 betting, this is the section where we will get into the kind of wagers you can make on the sport. There are tons of betting information, which makes things very exciting when it comes to Formula 1.
The first bet that you can make and the main one throughout sportsbooks is the outright wager. This is when you bet on the winning driver, and it’s not overly hard to handicap because only a few drivers have a chance of winning a race on any given weekend.
During the 2021 season, only five drivers won races, with Lewis Hamilton and Max Verstappen winning a combined 18 races. Therefore, there is a lot of value when it comes to handicapping a Formula 1 race.
In outright betting, there is typically a favorite in the race with negative odds. Starting position is so critical, so the favorite is usually a driver in the front few rows. The favorite has negative odds, so you will receive less if your risk this racer compared to an underdog.
If Lewis Hamilton starts first, he will likely be favored at -110. This would mean Max Verstappen has positive odds starting second. He may be valued at +110. You would have to lay $110 to win $100 with Hamilton, but $100 on Hamilton would yield $110.
There are also outright wagers that can be made for team bets. For example, if the Mercedes drivers were in the front, the team would likely be favored. Since there are two drivers that can win for your bet to hit, odds are typically lower. The advantage is in your favor with two cars rather than choosing an individual winner.
The starting grid for a race is determined by qualifying. Qualifying is the most stressful time of the weekend for drivers because if you fall to the back, it’s very hard to win. Drivers start stationary in Formula 1, so it’s hard to pass from the back, especially if it’s a team without a high-tech car.
Every driver gets their chance to put fast laps together the day before the race. Bookmakers will post odds for qualifying. These are all moneyline odds like the individual race winner. The lucrative teams like Mercedes, Red Bull, and Ferrari will have the lowest odds.
The podium in Formula 1 consists of the top three drivers. If you are concerned about picking a driver to win, you can bet on a driver to get to the podium or finish in the top three. This limits your liability because there are only a few teams with drivers that usually podium, so the odds will not be in your favor.
However, sports betting is all about winning so a podium wager increases your chances. You can still find positive odds for drivers to get to the podium. However, the odds leader may be -110 to win a race, but -200 to get to the podium, so you do lose some value.
When you bet a driver to finish in the top three, you do not receive any extra winnings if they take home first place. This is the one disappointing part about the podium finish if your driver takes the top spot.
Formula 1 Betting Prop Bets
Depending on the sportsbook, you can find a variety of prop bets for Formula 1. These vary from book to book, but they can get fairly extravagant. Here are some common examples.
What country will the winning driver be from?
Will the winning number of the driver be over/under XX?
Will there be over/under XXX cautions?
Which engine will the winning car have?
Who will lead the most laps?
Who will record the fastest lap?
Future bets are some of the most wagered out of the entire sport’s market. When betting futures, there are two main categories which we touched on earlier. You can bet on the winner of the Drivers’ Championship and Constructors’ Championship.
It’s very hard to win a future bet, but it’s easier in Formula 1 because there are only a few drivers that have the ability to take home the top prize. For example, from 2014 through 2020, Lewis Hamilton won every championship, but one in 2016 when his teammate Nico Rosberg prevailed.
Hamilton finished second in 2021 behind Max Verstappen, so the Mercedes driver has been lucrative. Because of the limited money restrictions in the sport, the teams that spend typically win.
When placing a future wager, you will want to bet on the lucrative teams and the most talented drivers. All odds will be moneyline as well because you are picking a winner.
Betting Tips for Formula 1
The way to win on Formula 1 is by doing your research and never taking a trap line. For example, there are some drivers who look very appealing because they have positive odds. However, never forget that most drivers in Formula 1 do not have a chance to finish on the podium, let alone win the race.
When you are learning what is Formula 1 betting, always remember that the top drivers usually win. This will help you profit because you will not waste your moneyline betting on a driver with no shot of taking home the top prize.
The most value in Formula 1 comes when you bet a driver who is not on the pole. The pole driver is the person who starts first in a race. They usually have negative odds, so when you bet on a racer in the next few spots, the value is much greater. It’s easiest to win from the first few rows. The pole position does not always claim the top spot, so always seek the positive odds.
If you entered this guide thinking, what is Formula 1 betting, hopefully, this helped set you up for success.
If you still have some questions, check out our FAQ section at the bottom Want to learn more about Formula 1 betting? Follow us on Twitter
Formula 1 Betting FAQs
Most sportsbooks offer Formula 1 betting odds because it’s the most popular racing league in the world.
The teams with the most money like Mercedes, Red Bull, and Ferrari are always good to wager.
There is no point spread betting in Formula 1. All wagers resemble money line odds.
You should always stay away from drivers with high odds that start in the back of a starting grid. They have little chance to win.
Until he retires, Lewis Hamilton will be the best driver in Formula 1. He has won seven world championships heading into the 2021 season.