F1 Betting Guide: How to Bet on Formula One

F1 Betting Guide: How to Bet on Formula One

With a global audience of 433 million viewers, Formula One is one of the most popular sports to watch and bet on.

If you are the kind of person who wants to combine the need for speed with some betting action, this is the F1 betting guide you need.

Most Popular F1 Bets

Before you even think about placing real money on a Formula One Grand Prix, you need to know what betting options are available to you.  

Outright Betting

The outright bet is the simplest F1 bet out there and the one to try first if you are new to Formula One betting. You simply back a driver, and if he finishes first, you win the bet. 

Podium Finish Betting

Instead of predicting who will come in first, you can bet on which driver will finish in the top three (the first three end up on the podium, hence the name). Bear in mind that the payout with this bet is lower than the outright betting option. 

F1 Qualifying Betting

In addition to betting on the main Sunday race, punters can also place wagers on the qualifying the day before. 

Betting on F1 qualifying can get you a nice win, but it is also a great F1 betting strategy as it lets you ease into Formula One betting. Plus, you can see the drivers’ performance, and use that info to place a wager on the Sunday race. 

Live Betting

Like any other sports, most online bookies offer live betting on F1.

Options like pole position betting will be closed, but the winner of the race, quickest lap and podium finish will still be available for in-play betting until the Grand Prix has concluded.

Live betting on Formula One is particularly exciting, requiring you to make quick decisions and reassess your bets as drivers make pit stops during the race. The driver you are backing might be pitting at the wrong time and losing their advantage, forcing you to make some changes to your betting slip. 

Futures Bets

This one is similar to an outright bet; the difference is that you are betting on the winning driver or a team for the entire season, i.e. which team or driver will collect the most points during the Formula One season. 

Driver Matchups

The sportsbook will give you the option to choose between two drivers. If the one you picked finishes higher than the other, you win the bet. The driver you choose doesn’t have to come in first—the only thing that matters is that he outperforms the other. 

Winning Margin

Similar to an over/under bet, here punters define the distance in time between the winner and the driver in second place. Sometimes larger spreads are involved as you bet on the time between the winner and the driver in 3rd or 6th place. 

F1 Prop Bets 

Prop bets let you wager on whether or not something will happen during the race. These can range from predicting whether the safety car will appear or what country the champion will come from. While fun, prop bets are not for newbies as they tend to have higher odds. 

You can also find these betting markets at the best online bookmakers:

  • Fastest Lap—set your bets on who will record the fastest lap. 
  • First Lap Leader where you wager on who will be in first place at the end of the first lap. 
  • Winner Grid Position—bet on a driver who has been set back due to a penalty or fault but still has a good chance to win the race. 
  • Driver To Retire, where you can bet on which driver will be the first to retire during the race. 
  • Driver/Team Specials—you can bet on a team rather than an individual driver. There are numerous variations here, from which driver in a team will finish first to who will make the first or last pit stop.

F1 Betting Tips and Strategies

While no strategy is foolproof, there are some Formula 1 betting tips you can use to maximise your profit. 

1. Back the favourite

If you can read betting odds, you can easily spot which driver is the favourite and who is the underdog. While placing your money on the latter might seem tempting, the outcome is more unlikely to happen. Betting on the favourite, on the other hand, equals a lower payout, but it is the safer bet.  

2. Listen to the commentators

This is a particularly useful tip when you opt for live betting. It makes it easy to monitor timings during the race, giving you the necessary info to make the best bet possible. 

3. Check the weather report

The weather plays a huge role in F1 racing as rain and temperature can significantly affect the track conditions, as well as the setup and tyres. 

4. Keep up to date with the latest news

Checking up on the team’s progress, innovations in vehicle design and news on drivers lets you stay one step ahead and gives you invaluable insight into which racer to back. 

5. Know your history

Knowing which driver has had the most wins or has consistently won in a particular Grand Prix is also valuable information to have before a race. 

How To Bet On Formula 1 Online

1. Choose a good online bookie

This is the first and most important step. The site you choose needs to be safe, have competitive odds and provide a wide variety of F1 betting markets.

Some of the best betting sites in the UK for Formula One racing are:

  • 10Bet is another great bookie for Formula betting. It has it all— a wide variety of markets, great odds as well as useful tips and tricks to help you get started. 

Deposit £15 get a 50% matched bonus up to £50

  • Betway is one of the biggest online sportsbooks in the UK, giving you a ton of betting markets on Formula One races. 

100% Matched Bonus of up to £10 in free bets

  • Bet365—with a total of 27 betting markets available as well as virtual motor racing, this is one of the best sites for F1 betting.  

BET365

Bonus

Up to €25 in Bet Credits

2. Register an account

Simply provide your details, and you are good to go. 

3. Deposit funds

Depositing cash to any betting website is fairly easy.

The usual debit cards like Visa and Mastercard are widely accepted as well as online payment processing services like Paypal. Lately, many betting sites are taking deposits in cryptocurrencies, too, such as Bitcoin, Ethereum, Litecoin and Dash.

4. Place your bets

Choose the race and driver you want to back as well as the type of bet and amount.

You’re now ready to cruise through the F1 betting track!

Crossing the Finish Line 

The betting world of Formula One can be a daunting subject to explore. Like with all sports bets, it’s not all about who finishes first—there are a large number of betting options to consider and lots of chances to win big. Hopefully, our F1 betting guide has made things a bit clearer and given you all the information you need to watch and successfully wager on Formula One next season.

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