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Formula 1 racing is actually the most popular motorsport in the world. It is one of the most-watched sports worldwide and, as a result, is also a sport that attracts large numbers of bettors around the globe. That makes it worth knowing how to bet on Formula 1 racing.
Just like other more popular betting sports, Formula 1 racing has a variety of bets from which to choose. Some are more popular than others, but they all give Formula 1 bettors multiple opportunities to win.
Outright Winner Bets
To-win bets are exactly as they sound. Bettors wager on a specific racer to win a race. For example, a bettor likes Racer X at +225 to win the ABC Grand Prix. If Racer X is the winner and the bettor wagered $100, the bettor wins $225.
To-win bets are great because bettors can typically find very good drivers at plus-money odds. Formula 1 will usually have a driver or two that dominates a season, but bettors can find outstanding odds on other drivers.
Podium Finish
A podium finish in Formula 1 racing is one where a driver finishes “on the podium” meaning he finishes first, second, or third.
Bettors wagering on a podium finish do not need the driver to win, but they need him to finish in the top three.
The odds on a podium finish bet will be a bit lower than the to-win bet. Formula 1 bettors can still find plus-money odds on quality drivers to finish in the top three.
Driver Matchups
The driver matchup bet pits two drivers against each other. Bettors choose the driver they believe will finish higher in a given race.
As long as the driver chosen finishes higher than the other driver, regardless of place, the bet wins. If you bet on Racer X to beat Racer Y, you win when Racer X finishes fifth and Racer Y finishes sixth or worse.
Again, the odds in a driver matchup bet will not rival those of a to-win bet, but bettors can find value by looking at all the available driver matchups.
Prop Bets
Like other sports, Formula 1 offers bettors some interesting prop bets. These wagers are divided into two categories – skilled and unskilled.
Sportsbooks do not necessarily separate these Formula 1 props, but bettors should be able to spot skilled Formula 1 bets. These would include bets like the racer that will lead a race for the most laps.
An unskilled prop bet would be one like how many caution flags will there be in an upcoming race. Whether skilled or unskilled, Formula 1 racing props, like those in other sports, make watching all the more exciting.
Pole Position
When betting on pole position, a bettor is wagering on a driver to have the best overall qualification time to earn the pole position or the first slot in the starting grid.
Like betting on a race winner, the odds here reflect the difficulty in picking one driver to earn the pole. Bettors have to do their homework here to find the driver with the fastest car over a certain course.
Futures Bets
Like other sports, bettors can wager in the futures betting markets. In the NFL, bettors wager on the Super Bowl winner. In Formula 1 racing, bettors can wager on the Constructor’s Championship and the Driver’s Championship.
In Formula 1, bettors make these wagers before the beginning of the season as many sportsbooks close the action on these bets once the first race of the season is run.
