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F1 Betting Explained: How to Bet on F1

F1 betting

Looking to wager on the next F1 Grand Prix but don’t know how to start? You are on the right page.

Although Formula One trails NASCAR in popularity in the US, its growing appeal in the country has made it an exciting and lucrative option for those looking to spice up their sports betting experience.

Unlike previous years when betting on the outright winner was the sole option, bookmakers have significantly expanded the range of F1 betting options. Now, you can explore a wide variety of betting choices for every Grand Prix event.

In this F1 betting guide, we will cover everything you need to know to get started with F1 betting, including understanding F1 betting odds, various bet types, gambling strategies and more. Fasten your seatbelts!

🔑 Key Takeaways

  • Learn about the basics of F1 Betting.
  • Discover the most popular types of F1 bets.
  • Uncover strategies to maximize your F1 bets.

Exploring F1 Betting Legality in the US

Can you bet on F1 in the US? Yes, you can! Until recently, one had to travel to Las Vegas to place a sports bet legally on Formula One races in the US. However, with the Supreme Court’s repeal of PASPA, the Professional and Sports Protection Act in 2018, states were granted the autonomy to oversee and regulate online sports betting.

As a result, the legality of online sports betting varies by state in the US. There are some states where online sports betting is legal, including F1, while others restrict it to in-person or ban it altogether. However, every state that permits sports wagering in any form in the US accepts bets on F1 races. 

Here is a list of states where online F1 betting is legal in the US:

  • Arizona
  • Colorado
  • Connecticut
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Louisiana
  • Maryland
  • Massachusetts
  • Michigan
  • Nevada
  • New Hampshire
  • New Jersey
  • New York
  • Oregon
  • Pennsylvania
  • Tennessee
  • Vermont
  • Virginia
  • Wyoming

Keep in mind that regulations are subject to change, so it’s essential to verify your state’s specific laws and licensed operators before placing a bet. You can rest assured that we will keep this section up-to-date with the latest information about the legality of online F1 betting in the US.

Betting on F1 Races: How to Get Started

If you live in a legal online betting state in the US, you will find wagering on F1 easy and convenient. Here is a step-by-step guide to creating a sportsbook account and starting your F1 betting journey.

Selecting a F1 Betting Site

Depending on your jurisdiction, you will find a number of F1 betting apps operating in your state. Choose your preferred sportsbook and sign up. Before selecting a bookie, you must consider several factors:

  • F1 betting markets available
  • Bonuses and promos
  • Lines offered
  • User interface

Most importantly, you must ensure that you only play at reputable sites that are licensed by the sports betting regulator of your state. This will guarantee you have a safe and secure betting experience.

From my experience, signing up for a sportsbook account only takes a few minutes. You will be asked to enter your details, such as name, email address, and date of birth. You may also need to verify your email address or phone number to activate your account.

The next step is to deposit funds using any of the site’s banking options and start betting on F1. 

Understanding F1 Betting Odds

You need to understand how odds work to succeed in F1 betting. Odds indicate the likelihood or probability of a specific outcome in a race.

Example: It could be the probability of a driver or a team winning a race or claiming a certain position in the championship. 

In the US, F1 odds are displayed using the standard American format. On a moneyline, these odds show how much you need to wager to win $150. Like traditional sports betting:

  • Favorites are represented by a minus sign in F1 betting.
  • Underdogs are listed with a plus sign. 

Example: If Lewis Hamilton has odds of -150 to win a race, it means the book considers him the favorite and requires you to bet $150 to win $100 on him. If you see another driver with odds of +200, it indicates that the driver is an underdog, and a $100 wager on that driver would yield a $200 profit. 

Placing Your Bets 

After signing up and depositing into your bookmaker account:

  1. Click the F1 sports tab on your chosen betting site.
  2. Select your preferred race or championship market.
  3. Select the type of bet you want to place and enter your stake.
  4. Ensure you review the details before confirming your bet.

Most Popular Types of F1 Bets

If you wish to shift your experience from watching the F1 races to wagering on them, you will find a diverse range of bet types available. From outrights and props to future and live betting, F1 betting presents a world of possibilities for profiting from the sport.

Here are the most popular types of F1 Bets:

  • Outright winner
  • Podium Finish
  • Head-to-head
  • Faster Leap
  • Pole Position
  • F1 Betting Futures

Outright Winner

The outright win bet is the most popular in F1, where you bet on who you think will win a race or the driver’s championship.

Example: If you bet on Max Verstappen to win the 2023 Bahrain Grand Prix, and he crosses the finish line first, you win. He did win that event, so your bet would have paid off.

However, this bet has drawbacks. Favorites like Mercedes, Red Bull Racing, and Ferrari often have low odds, reflecting their dominance. While underdogs offer higher returns, they’re a long shot. In 2023, Red Bull won 21 of the 22 Grand Prixes, with Ferrari claiming just one.

Podium Finish

A podium finish bet involves wagering on a driver to place in the top three of an F1 Grand Prix. It’s less risky than betting on an outright winner since your driver can finish 1st, 2nd, or 3rd, and you still win. Top contenders are usually favored, but underdogs can surprise.

Example: The top three finishers of the 2023 Australian Grand Prix were:

  • 1st- Max Verstappen (Red Bull Racing)
  • 2nd – Lewis Hamilton (Mercedes)
  • 3rd- Fernando Alonso (Aston Martin) 

A bet on Alonso would have returned more than on Verstappen or Hamilton, given his team’s inconsistent performance.

Head-to-Head

A head-to-head bet in F1 pits two drivers against each other, and you predict which will finish higher. If one driver retires or fails to finish, the other wins by default.

Example: If you bet on Carlos Sainz to beat George Russell in the 2024 Bahrain Grand Prix, and Sainz finishes 3rd while Russell comes 5th, you win. But if Sainz retired and Russell finished 2nd, you’d lose.

This bet focuses on individual performances, so analyze team dynamics, driver strengths, and track conditions carefully. However, payouts are often lower, and the bet can be vulnerable to unexpected events like mechanical failures.

Fastest Lap

A fastest lap bet in F1 is about predicting which driver will set the fastest lap time during a Grand Prix. The driver doesn’t need to win the race, just clock the fastest lap.

Example: In the 2024 Australian Grand Prix, Charles Leclerc set the fastest lap, even though Carlos Sainz Jr. won the race.

Pole Position

In a pole position bet, you wager on which driver will finish first in the qualifying session. This bet is settled after qualifying, regardless of the race outcome.

If you bet on a driver to take pole position, and they clock the fastest qualifying time, you win, even if they don’t perform well in the race.

F1 Betting Futures

F1 futures bets cover the driver’s championship and the constructor’s championship. You can bet on the driver who will accumulate the most points and win the World Drivers’ Championship or the team that will earn the most points in the season.

Example: Before the 2023 season, Max Verstappen was favored to win his third title with odds of -150. Red Bull Racing was the favorite for the constructor’s championship with odds of -160.

Historically, the driver’s champion usually leads their team to win the constructor’s title as well.

Major F1 Events to Bet On

F1’s annual calendar is typically packed with a series of Grand Prix events taking place across the world. Here is a list of the most popular Grand Prix events with diverse betting opportunities.

Monaco Grand Prix

Annually held on the Circuit de Monaco, the Monaco Grand Prix is one of the three races that form the Triple Crown of Motorsport. It is also the only Grand Prix that deviates from the FIA’s 305 km minimum distance rule. Ayrton Senna has the most wins (6) on this circuit, while McLaren holds the record for the most constructor wins (15) at this venue. 

US Grand Prix

The United States Grand Prix’s roots go back to the early 1900s, when it was referred to as The Grand Prize. The event is currently held at the Circuit of the Americas, with a track length of 5.513 km and a race distance of 56 laps. In 2022, the event drew a record 440,000 fans, making it the best-attended F1 race in US history and one of the most-attended F1 events of all time. 

Singapore Grand Prix

The Singapore Grand Prix takes place on the Marina Bay Street Circuit. It was the inaugural night race and the first street circuit in Asia designed for F1 races. First held in 1966, it was revived in 2008 and has been held annually for 22 times.

Britain Grand Prix

Organized in the United Kingdom by Motorsport UK, the British Grand Prix is the most frequent event in the Formula One World Championship. With 75 editions since 1950, this F1 circuit is one of the longest-running events in the series. Lewis Hamilton has claimed the most victories (9) at this iconic circuit.

Italy Grand Prix

The Italian Grand Prix started in 2021, making it the fifth-oldest national Grand Prix. Along with the British, it has also run as an F1 world championship event since the event was introduced in 1980. The Italian Grand Prix has a circuit length of 5.793 km (3.600 miles). 

Japan Grand Prix

The Japanese Grand Prix has hosted 36 world championship races, including 13 title-deciding events, making it a strategic season finale that often crowns the World Driver’s champion. Until 1999, when Malaysia debuted on the F1 calendar, the Japanese Grand Prix was the only F1 race held in Asia. 

Spain Grand Prix

The Spanish Grand Prix is arguably one of the oldest in the world, as it celebrated its centenary in 2013. While the event is currently being held at the Circuit de Barcelona-Catalunya, from 2026 to 2035, the race will be run at a new venue near Madrid. 

Australia Grand Prix

The Melbourne Grand Prix Circuit has hosted the Australian Grand Prix since 1996. It takes over from Adelaide, where the event was held from 1985-1995. The Australian Grand Prix is also one of the best-attended races on the F1 calendar, boasting around 400,000 spectators and 100,000 fans on race day. 

Canada Grand Prix

Canada first hosted a world championship in 1967. The Canadian Grand Prix was held at Mosport Park and Circuit Mont-Tremblant before moving to its current home on Île Notre-Dame in Montreal in 1978. In 2024, the circuit sets a new attendance with 350,000 fans in attendance. 

Abu Dhabi Grand Prix

Known as Formula One’s first twilight race, the Abu Dhabi Grand Prix joined F1 in 2009 and has become firmly established as the final race of the season. Although the Yas Marina Circuit, where the race takes place, is one of the most expensive to attend on the current F1 calendar, its 60,000 spectator seats often sell out. 

F1 Betting Strategies I Live By

You need the right knowledge and strategies to succeed in F1 betting. Find below expert tips to maximize your wagers and reduce losses when betting on Formula 1 races.

Learn from Past Results

It is essential to analyze historical data before wagering on F1 events. F1 is a sport where favorites often win or finish in the top three. Based on past results, underdogs rarely win or even podium-finish.

Example: In 2023, Max Verstappen won 19 races out of 22 Grand Prixes held in the year, surpassing the record of 15 he set in 2022.
→ This data suggests backing the favorites is a more reliable strategy if you are on a tight budget.

Avoid putting all your money on the pole position

While securing the pole position is undoubtedly an advantage for the driver, you shouldn’t overemphasize its importance. Statistics reveal that the pole-sitter only wins around 40-50% of the time.

As such, wagering on the huge favorite from the pole position with short odds may not give you the best return on investment. Instead, I focus on a strong driver from a lower position with longer odds.

Analyze team strategies

Each driver in F1 is backed by a large support team and pit crew that work behind the scenes to win the race. These teams usually feature two drivers whose relationships can influence their outcome. By staying informed about the team’s internal politics and other factors like pit stop tactics, tire choices, and car upgrades, you can make correct predictions.

Analyze drivers’ performance

Before placing a bet on a driver to win, make sure you check their recent performance and current form. Consider their qualifying performance and momentum.

Example: After winning three Grand Prix in 2023, I concluded that Verstappen was on a hot streak and was likely to win again, so I wagered on him in the next race, and the bet was successful.

Moreover, some drivers are more successful at specific circuits than others. This could be because of various factors, including familiarity with the track layout and the suitability of their driving style to the circuit’s characteristics.

Example: Lewis Hamilton won five times at the Spanish Grand Prix from 2017 to 2021.

Use welcome bonuses

Take advantage of the sports betting bonuses. As a new bettor, the bookmaker will reward you with a welcome bonus for signing up. You can use this F1 betting bonus to place your first bet on the race; however, be aware that you may need to drop an initial deposit to trigger the offer.

Research Track Conditions

Consider the weather, surface characteristics, track layout and changes in the GP circuit. These factors can significantly impact drivers’ performance and the outcome of the race. Circuit design or modification to the track can suit some cars or driving styles more than others.

Compare Lines across Sportsbooks

Don’t be quick to pitch your tent with a particular sportsbook; check the odds different bookies offer for the same F1 event. This will help you get the best odds for your F1 picks.

Example: I once came across a market when Book A offered -170 on VER to win the Monaco GP, and Book B offered -150. I wagered $100 on Book B’s -150 to win $66.67 when VER took the checkered flag.
→ If I had settled for Book A’s -170, I would have won $58.82, a difference of $7.85!

F1 Betting Live

Live F1 betting, also called in-play betting, allows you to place bets on a Formula 1 race as it unfolds. Unlike pre-match betting, which relies on pre-race predictions, live betting decisions are driven by real-time data and events.

Additionally, live betting odds constantly change to reflect the race’s current state. As such, you need to be able to think on your feet to capitalize on the opportunities live betting affords you.

Strategies for F1 Betting Live

One effective strategy you can adopt is to anticipate the pit stop timing of the drivers. Each driver must make at least one stop to change tires, which can lead to tactical advantages, mistakes, and unexpected opportunities.

You should also pay attention to driver radio communications, which can reveal their pit stop plans. If you realize that a driver is pitting at the wrong time, it would be smart to avoid wagering on them. Instead, you can back their rival to overtake.

Furthermore, listening to live commentators can aid your betting strategy. They provide real-time updates and insights from their monitors, which can supply valuable clues about the race progression and help you make informed betting decisions.

So, Are You Ready for Some F1 Betting Tonight?

Formula One betting offers a fast-paced experience combining speed, skill, and strategy. There are several aspects of an F1 race that you can wager on, including outright winner, pole positions, fastest lap, futures and live betting. Having learned F1 betting basics and effective strategies, you are well-equipped to start placing F1 bets.

So, select a reputable sportsbook and get ready to shift your wagering experience into high gear. Remember to bet responsibly and within your means.

Do you know that there are betting tools you can use to improve your F1 betting strategy? Check out our curated list of the best free betting tools in the market.