What are the Online Betting Markets for Formula 1?

Formula One has a loyal following among supporters and from the wider online betting community. Like all sports, F1 betting isn’t all about the race winner and there are many other markets to consider.

In this round up, we will outline the bets that are available while discussing the likely options where F1 betting odds may provide some better value.

What Type of Bets Can I Make on F1 Races?

Right through the calendar year, even before the new season starts, there are formula 1 betting markets to consider. From outright bets to a host of side markets, there’s a lot to work through and here are the most common options.

F1 Qualifying Betting – Pole Position

Before every Grand Prix, the competitors must go through a series of qualifying drives. Not only will this confirm the final set of drivers, it will also determine who starts where on the grid.

The aim is to start the race in pole position where no drivers are in front who can impede the leader as the GP starts. It’s an important part of the overall Grand Prix weekend and there’s also an F1 betting market on who will win qualifying to start on the grid in pole position.

Podium Finish Bet

In order for a podium finish bet to be successful, the chosen driver must finish inside the top three. The top three drivers in any Grand Prix will be presented on the podium to receive their trophies, and champagne, and that’s why this market is known as a podium finish bet.

Formula 1 betting odds for the podium finish are useful for some bettors who are eager to back a driver but don’t necessarily think they can win the race outright.

Outright Bet: Formula 1 Grand Prix Race Winner

This is the most obvious bet for any race and it’s the place where F1 betting starts for most punters. This is all about who takes the chequered flag first to win the race.

Race winner formula one betting markets are available for all Grand Prix throughout the season.

Lewis Hamilton

Lewis Hamilton

Live Betting on Formula 1

Like most sports, formula one has an active set of live markets which will become available once the race has started.

Some options, such as pole position, will have closed by this point but many others, including race winner, podium finish and fastest lap, will remain in place until the Grand Prix has been decided.

Futures Bets – Drivers Championship and Constructors Championship

There are two main futures markets in place that run for the entirety of a season. F1 betting odds will appear for the Drivers Championship and for the Constructors Championship where the best performing team takes the trophy.

These bets will appear as soon as the previous campaign comes to an end and they will stay open until the winner is decided in each section.

Safety Car Appearance

During any Grand Prix, a safety car can appear to slow cars down in the event of an accident or poor track conditions. F1 betting options will be in place in this respect and punters can decide on a simple ‘yes’ or ‘no’ as to whether the safety car will come out.

Safety Car Appearance

Virtual Safety Car Appearance

There is more than one way to deploy controlling measures in the event of an incident on the track. A virtual safety car can simply be used to enforce a speed limit and it’s put in place when there is no need for the physical safety car to come out.

Fewer sportsbooks offer this option but, once again, there are formula one betting markets for the virtual safety car with simple yes or no picks.

Team to Win

Drivers race for their teams and there are two drivers performing for each manufacturer. When F1 betting odds are in place for the team to win, it’s simply a case of picking from the list of constructors.

Either driver inside the team can win the race in order for this bet to return a profit.

Driver Matchups

Depending on the sportsbook you are using, there may be F1 betting odds based on driver matchups. These will simply list two, or possibly more drivers and the bettor has to decide which of them will finish the race in a higher position.

Lap 1 Leader

This is another formula one betting market that should be self explanatory: What the sportsbooks want you to do here is speculate on the driver who will be leading the race at the end of the first lap.

The driver in pole position will obviously have an advantage and will likely start as favourite but there may be value in the chasing pack, especially if there is a crash on that opening lap.

Fastest Lap

This F1 betting market applies specifically to race day and it centres on the driver who records the fastest lap. Potentially, this is where longer odds winners can be found and the favourites don’t always come through.

Anyone can put their foot down and record the fastest circuit without it having any effect on the overall race outcome.

Max Verstappen

Max Verstappen

Betting Strategy for Formula 1

The following is a list of tips and strategies that can give you an edge when it comes to formula one betting.

Betting on Multiple Drivers

This theory is based on a common practice which is more widely known as ‘hedging’. Instead of picking a single driver to win the race, bettors can look at several options to give them a bigger chance of a return.

The important point to note is that you should check all of the odds. A profit should be available as long as one of your selections comes through to win.

Exploring Circuit History

This is, perhaps, the most important piece of research that anyone can carry out. The quality of the car and the form of the driver is a sound place with which to start but, in order to take that research a little further, it’s important to consider the history behind the circuit.

This type of information is readily available in the modern day where statistics can be found right across the internet. Firstly, take a look at the individual drivers and identify whether any of them have any wins or a history of strong performances on the track.

The second point to look at is the history of constructor success on the circuit in question. Does the track favour a certain team? If there have been changes in those teams during the off season then a driver who hasn’t necessarily performed well at this Grand Prix could do well in the future.

There are reasons why these winning trends can continue in future years. Each track used in a formula one season is different. Some have longer straights which offer more opportunities to overtake while others have a higher level of twists and turns. Each surface will tend to suit a certain set of drivers.

Then we have the street circuits such as Monaco where overtaking is exceptionally difficult. It’s not impossible but here we may be relying on pit stops or technical issues in order to displace the leader.

This is a vital part of any F1 betting strategy so make sure you study the stats.

Follow the Whole Weekend: Qualifying and Race

As we know, a Grand Prix isn’t just about the actual race. Formula One betting markets are in place for qualifying sessions as well and it’s recommended that bettors watch the weekend in its entirety.

There is a lot of information that can be learned from the qualifying rounds and not just the details of who is fastest. Viewers can take time to assess the conditions of the track and whether any of the cars are having technical issues.

Slow starters at the beginning of qualifying may improve and return faster times as the sessions develop so they should also be watched. Once the Grand Prix starts, it’s too late to change any pre-race F1 betting but analysis of the early exchanges can be useful in areas such as live betting or questions over potential cashouts at any stage.

Follow the F1 News and Statistics

News reports should be studied in great detail: These can relate to both drivers and cars. Maybe there is a technical problem or a dispute over a certain part of a vehicle’s bodywork. In terms of driving, fitness still plays a part although this may be less of a factor in formula 1 betting than in other sports.

Statistics produced in these news reports can be more current than the historical information relating to results on upcoming circuits. Average speeds and facts in relation to pit stops are among the details that can be scrutinised by anyone looking to enter the markets.

Weather is Important

The weather conditions can be pivotal to the result of any Grand Prix and we’re not just talking about rain. A wet track will naturally have an effect on performance but a small change in air temperature can also be an important factor.

The reason is that teams choose tyres based on the external weather conditions and on the state of the track. They will consider forecasts but will wait to make any final decisions until the day of the race. If those temperatures fluctuate or there is rain that comes down unexpectedly, those teams will need to react and fast pit stops with quick tyre changes are needed in order to ensure that their driver stays in front.

One final thought on the weather relates to the safety car market. If poor external conditions are expected, there is more chance of that car coming out following an incident on the track.

Closing Thoughts

Clearly there is a lot to take in when it comes to F1 betting. Firstly, it’s important to understand what markets are available and to know that there is more to look at than just the race winner. Often, the better value picks can lie in the side markets.

Formula 1 betting strategies can then be applied in order to give yourself a better chance of taking a return from any of those markets. Add in one of the best F1 betting sites and you have a strong combination of factors as you take things forward.