How to Bet on Formula 1 Online: Everything You Need to Know
If you want to take pole position at your local sports betting site when betting on Formula 1, then this betting guide might be exactly what you need. We will look at all the different F1 bet types, the top F1 betting sites, tips, tricks and strategies for F1 betting and important terms you need to know.
So, let’s take a look at where and how to bet on Formula 1 and win!
How to Bet on Formula 1 in 2024
Formula 1 is about more than just one race. In a way, it is like a soap opera – and every single race is like an episode of an ongoing story – that culminates at the season end when the driver is crowned champion and the winning team takes the Constructor Championship. This provides a plethora of betting opportunities – betting on the winner of the legendary Monaco Grand Prix, on Lewis Hamilton to win the Drivers Championship, or betting on Ferrari to take the Constructor crown.
When the season starts, we travel all around the world with our favorite drivers and teams as they battle on the different tracks – and we can head over to the top F1 betting sites to bet on the outcome.
Formula 1 Betting Explained: Formula 1 Betting Lines
Here are some of the most popular Formula 1 bet types:
- To Win Bets
- Podium Finish Bets
- Head to Head Bets
- Pole Position Bets
- Proposition Bets
- Winning Margin Bets
- Future Bets
To Win Bets: First Past the Post
One of the simplest and most popular types of bets in F1 is the To Win bet, where you’re basically betting on which driver you think will win a specific Grand Prix. The odds assigned to each driver by the bookie represent their chances of winning the race.
For instance, suppose Max Verstappen has odds of +1300 to win the Monaco Grand Prix. This means that if you bet $10 on Verstappen and he manages to cross the finish line first, you would receive a total payout of $140 ($10 initial bet plus $130 in winnings).
Placing To Win bets can be a great starting point for F1 betting, especially if you’re new to the sport. It doesn’t require much knowledge about the nuances of the races and is easy to understand. All you need to do is click on the odds of the driver you want to bet on and then enter the amount of money you want to wager. The betting site will then show you your potential payout if your chosen driver ends up winning.
It’s worth noting that the odds can fluctuate depending on factors like driver performance, track conditions, and even the weather. So keep an eye out for any changes that could affect your bet. Always do your research before placing any bets: I like to analyze driver stats, past performances, and even check out what the tipsters have to say.
Podium Finisher Betting: Top Three Finish
A popular type of Formula 1 bet is a podium finish bet, where you select a driver and bet on whether they will finish in the top three places of a specific race. This is a great bet to place if you have a strong sense of a driver’s ability to perform well in a given race, but aren’t confident enough to bet on them to win outright.
In a podium finish bet, it doesn’t matter which of the top three positions a driver finishes in – if they are on the podium at the end of the race, you win your bet. The payout odds for podium finish bets are typically lower than for to-win bets, as predicting a driver to finish in the top three is generally easier than predicting them to win the race outright. However, the odds are still usually better than even money for all drivers.
These bets can be a great way to hedge your bets and lower your risk while still potentially winning a good payout. In other words, if you’re looking to spread your bets across multiple drivers in a single race, placing podium finish bets on several drivers can be a smart way to increase your chances of winning while still maintaining a decent potential payout.
Head to Head: Driver Matchup Betting
F1 races offer driver matchup bets, a fun and flexible betting option. These bets are rare and limited in brick-and-mortar settings, but you’ll have many options online. These types of bets require you to pick between two drivers and decide which one will finish higher in the race.
For instance, let’s say Lewis Hamilton and Max Verstappen are going head-to-head in the next Grand Prix. If you believe that Hamilton is going to outperform Verstappen, you can place a driver matchup bet on Hamilton to beat Verstappen. If Hamilton finishes ahead of Verstappen, you win your bet!
Put simply, your chosen driver must beat the other. The actual finishing position of your driver doesn’t matter, as long as they cross the finish line ahead of their opponent. This means that you can make a bet even if you don’t believe your chosen driver can win the race or even finish on the podium.
Driver matchup bets can be particularly beneficial if you have a hunch about a driver who isn’t likely to win the race but might still pull off a good performance. By placing a head to head, you can cash in on your prediction without worrying about the race winner.
Pole Position Betting: Who Starts First
In Formula 1, the pole position bet is a wager placed on the driver who qualifies for the first slot in the starting grid. The driver who secures the pole position will have a much higher chance of winning the race.
Pole position bets can be particularly interesting if you have some insider knowledge about a driver’s performance. For instance, if you know that Hamilton has been practicing on the same track, he could be more likely to secure the pole position. Alternatively, you may want to consider how drivers perform in different conditions. If it’s going to rain during qualifying, a driver who excels in wet conditions may be more likely to win the pole position.
Bear in mind that pole position bets are not a sure thing. Even the best drivers can have bad qualifying rounds, and factors like weather conditions can play a significant role in determining who wins the pole position.
Proposition Betting: Betting on the Details
F1 prop bets are wagers that propose something to happen or not during a race. These types of bets can range from specific driver predictions to more general race outcomes.
There are two main types of F1 prop bets: skilled and unskilled. Skilled prop bets require some level of knowledge or skill to make a winning prediction. Unskilled prop bets, on the other hand, don’t require much expertise to make a prediction. Let’s take a closer look at these different types of prop bets:
Skilled Prop Bets
- One of the most typical types of skilled prop bets requires you to predict how many laps a driver will lead. To do this, you’ll need to look at the driver’s past performance on the given track, as well as lap times, passing abilities, and pit strategy.
- You can also place a prop bet on a driver’s finishing position. For this one, you must consider a driver’s recent form, and how they stack up against their competitors.
- There are also skilled prop bets that focus on a driver’s individual stats, such as the number of overtakes or the number of fastest laps.
Unskilled Prop Bets
- You can bet on whether there will be more or fewer than five cautions during a race. This type of bet is purely based on chance and doesn’t require any knowledge of the drivers or track.
- Another unskilled prop bet may be predicting which driver will have the fastest lap time during a race. While this may seem like it requires skill, it’s ultimately down to luck.
Winning Maring: A Matter of Seconds
The goal of this bet is to correctly predict whether the winning margin between the first and second place drivers will be more or less than the time offered by the sportsbook.
For instance, a sportsbook might offer a Winning Margin bet with a time of 5.5 seconds. To place this bet, you have to decide whether the winning margin will be over 5.5 seconds or under 5.5 seconds.
So, in essence, when the top two drivers are very evenly matched, you should bet on the Under. On the flip side, if one driver is significantly faster than the others, the Over is then the better choice.
For this bets, the time offered by bookies can vary widely depending on the track and the conditions on race day. A race on a tight and twisty street circuit like Monaco might have a smaller Winning Margin time than a race on a long and fast track like Monza.
Futures Bets: Long Term Wagers
Futures bets are a popular way to bet on F1 because they offer the potential for big payouts if you correctly predict the outcome of the season. F1 futures bets involve picking the driver you believe will win the championship at the end of the season.
The most common F1 futures bet is the Constructor Championship winner. All you’ve got to do to place this bet is pick the team you believe will win the championship at the end of the season. For example, if you bet on Mercedes to win the championship before the start of the season and they do so, you will win your bet!
Most reputable sportsbooks allow betting on futures bets all season long. Of course, as the season progresses, the odds are adjusted based on the performance of the drivers and teams throughout the season.
If a driver wins several races in a row, their odds of winning the championship will decrease, which means the payout odds will also decrease. Conversely, if a driver starts the season slow but then turns things around and starts winning races, their odds of winning the championship will increase, and so will the potential payouts.
Formula 1 Betting Glossary
Here are the main terms you need to know when betting on F1:
| F1 Betting Terms | Definition |
| Backmarker | A driver that stays at the back of the field and is often overlapped by leaders. |
| Drive-Through Penalty | A penalty given to a driver for an infraction. They have to enter the pit lane and comply with the speed limit before joining the race again. |
| Formation Lap | The lap before the race where drivers warm up their tires and check the condition of the track. |
| Jumpstart | If a driver moves their car before the starting lights are turned off – they are normally given a penalty. |
| Polesitter | The driver sitting in pole position. |
| Undercut | A driver heads to the pit early to get a speed advantage with new tires. |
| Checkered Flag | The flag that is waved at the end of the race. |
| Delta Time | The time difference between 2 laps or 2 cars. |
| Grip | The traction that the car’s tires has on the track. |
| Pits | Where the cars go to refuel and change tires during a race. |
Best Formula 1 Betting Tips: Formula 1 Betting Strategy
If you are ready to start betting, then here are things to consider when coming up with a Formula 1 betting strategy.
Here are our top Formula 1 betting tips.
Bet on More than One Driver
Most people tend to stick with the safe bet and put their money on just one driver to win the race or the championship. However, if you have a good understanding of F1 betting, then you may choose to bet on multiple drivers to increase your chances of winning.
The reason behind this is due to the payout odds on individual drivers in F1 being quite generous. For instance, if you think both Sergio Perez and Fernando Alonso have a shot at winning the championship, instead of just picking one, you can bet on both of them. Of course, ithere may be times when there is one driver who is so favored by the odds that it’s not worth betting on anyone else.
When considering multiple bets, it’s important to be aware of the potential risks and adjust your betting strategy accordingly. You can place a larger wager on the driver who is the bigger favorite and a smaller wager on the driver who is the long shot to limit your risk.
Understand the Circuit History
Formula 1 racetracks are not created equal. They differ in terms of their length, layout, surface, and weather conditions. Some racetracks have long straightaways, while others are packed with hairpin turns. Some tracks are known for being fast, while others are known for being technical.
That’s why, before placing any bets, you must understand the history of the circuit where the race will take place. You want to know which drivers tend to perform well on that particular track and which teams tend to dominate there. Some drivers are known for excelling on technical tracks with lots of twists and turns, while others thrive on more open tracks. Some teams have cars that perform better in the rain, while others struggle in rainy conditions.
Additionally, you want to pay attention to how pole positions can impact the outcome of a race for each given circuit. Starting in the front of the grid is an advantage, as overtaking opportunities can be scarce on some tracks. The Circuit de Monaco, for example, is full of tight corners, narrow straights, and lack of overtaking opportunities. As a result, pole position is crucial at Monaco. Since 2004, the winner of the Monaco Grand Prix has started on pole position every year except for 2016. This goes to show that you should always pay attention to the qualifying session and take note of which drivers secure a spot at the front of the grid.
Team Decisions and Goals
Formula 1 may seem like an individual sport, but it is also a team sport. Each team consists of two drivers who work together to achieve their goals. While the drivers are focused on winning the races for themselves, they also have to help their teammate when necessary.
One way that drivers can help their teammate is by sharing information about the car and the track. During practice sessions and debriefs, drivers will often discuss what is and isn’t working for them. This information can be invaluable in helping the team improve the car’s performance.
Another way that drivers can help their teammate is by working together on race strategy. For example, one driver might choose to pit early to create a gap for their teammate to take advantage of later in the race. This kind of teamwork can make a huge difference in the outcome of a race.
But perhaps the most dramatic way that drivers can help their teammate is by sacrificing their own race for the good of the team. This is where the concept of team orders comes into play. In some cases, a team may instruct one driver to let their teammate overtake them in order to secure a better result for the team overall. In these cases, especially, researching team strategies can make the difference between a winning bet and a terrible loss.
Qualifying Times
Qualifying is a crucial part of any Formula 1 race weekend, as it determines the starting order of the cars on race day. It’s an exciting session where drivers push their cars to the limit to set the fastest time possible. But it’s important to remember that qualifying is not the same as the race itself.
The conditions on race day can be vastly different from qualifying day. Rain is a common occurrence in many parts of the world, and it can turn a dry and sunny qualifying session into a difficult race. If the conditions change, the fastest car in qualifying may struggle to keep up with the pack on race day.
That’s why you need to look at the difference in conditions between qualifying and race day when analyzing a team’s performance to place your bets. A car that is fast in dry conditions may not perform as well in the wet, and vice versa. You should also take into account the drivers’ performance in different conditions, as well as their experience and track record.
Overall, qualifying times serve as a good indicator of which drivers may be among the top on race day. And yet, you should still consider the differences in weather and avoid assuming that the same driver with the best qualifying performance will necessarily win the race.
Weather
If you have just started betting on Formula 1 races, you must keep in mind that the weather can have a significant impact on a driver’s performance.
Wet conditions can make the track slippery and reduce visibility, making it more challenging for drivers to maintain control of their cars. In contrast, sunny and dry weather can allow drivers to push their cars to the limit and achieve faster lap times.
Before placing your bets, take a look at the weather forecast for the race day and see how the drivers and teams have performed in similar weather conditions in the past.
Some tracks are more susceptible to changes in weather conditions than others, so it’s also worth doing some research to see how past races at that track have been affected by rain or other weather factors.
Manage Your Bankroll
When it comes to betting on Formula 1, it’s important to remember that it should be a fun experience. Sure, it’s exciting to potentially win big, but if you’re not having fun, what’s the point? That’s why it’s crucial to set a budget for your F1 betting and stick to it. You don’t want to blow all of your money on one race and end up regretting it later.
To ensure you’re managing your money effectively, it’s a good idea to read up on bankroll management. This means setting aside a certain amount of money specifically for betting on F1 and only using that money for your bets.
How to Bet on Formula 1 and Win
So, now it’s time to get betting:
-
- Read our F1 betting site review, choose your favorite and click on our link to the site: It’s important to choose a trustworthy and reliable betting site that offers a wide range of F1 markets. Once you have found a betting site that meets your needs, click on our link to access the best bonus available.
- Open a new account: Once you have arrived at your favorite betting site, click on the “sign up” button to create a new account. Make sure to fill in all the necessary details, and verify your account by providing any required documents such as your ID.
- Deposit into your new account: After you have created your account, it’s time to make a deposit. Choose the payment method that works best for you and follow the prompts to make your deposit.
- Claim your bonus, choose your race, your wager, your stake, and confirm!: Most betting sites offer bonuses to new customers. Make sure to claim it. Once you do so, it’s time to start betting. After selecting a race and placing your desired bets, all that’s left to do is sit back and wait for the outcomes. If you win, your payout will be deposited into your account!
When it comes to betting on F1, experts stand out by doing more than beginners do. One of the things they do is avoid media noise. This can challenge passionate sports fans, especially with abundant online information. With so many channels and forums, it’s easy to get distracted from focusing on your favorite sport.
Formula 1 races can be hyped up by media outlets to attract viewers. To increase your chances of success, you should focus on the data available and disregard the media noise. This will help you place winning bets.
If you want to bet on the Formula 1 season, doing research is important. Online Formula 1 resources can provide essential data for match-ups and the constructor’s competition. Formula 1 teams and drivers are typically reliable, so the statistically successful teams usually win the trophies at the season’s end.
When the public heavily bets on one driver in a race, it can cause the odds to change. This strategy called ‘fading,‘ involves betting against the popular driver. By doing so, you may find more profitable odds on the other driver.
Oddsmakers decrease the value of the popular choice, making it less attractive and less likely to win by a large margin. This can benefit bettors who observe these line changes and wager on their preferred team when the highest value is offered. It’s important to consider the guidelines we provide, but ultimately bettors should think for themselves and make informed decisions to increase their chances of success when betting on football markets.
Best Offshore Sportsbooks