Formula 1 Betting Odds

Despite being a niche sport, Formula One odds offer up plenty of interesting bets. For any given Grand Prix, you can choose from among various props and futures. Some F1 betting choices include backing a top-tier driver, like Lewis Hamilton, to win the race or betting on a team, like Mercedes, to come out on top at the end of the season.

We’ll walk you through all the high-profile events in Formula One and how to get started with F1 betting here in Maryland.

Best Formula 1 Betting Sites in MD

Why bet on F1?

Although Formula One betting isn’t in the same league as the NFL or NBA, there’s still a respectable amount of betting available here. The nearly year-round nature of the F1 circuit provides nonstop action and ample betting opportunities. In its current capacity, the Formula One calendar features 23 races. Add the pre-race qualifying sessions to that, and it’s easy to understand the appeal.

Many sports offer only two or three possible outcomes on the moneyline bets, like a win on either side or a draw. However, in F1 Grand Prix, 20 drivers are all competing, meaning multiple possibilities for a given race. This can certainly offer value to bettors. Nevertheless, the sheer complexity of this ever-changing sport can also make your head spin.

What are the most prestigious F1 races?

The standard Formula One season runs from March to November and consists of a series of Grand Prix races. Here are some key events:

  • United States Grand Prix: This event has taken place on and off since 1908 in various venues across the country. Since 2012, it has been in Austin, Texas, over 56 laps of the Circuit of the Americas. The US Grand Prix traditionally takes place at the end of October.
  • Monaco Grand Prix: Widely regarded as the most challenging race for the contenders, the Monaco Grand Prix is a playground for the rich. Along with the Indianapolis 500 and 24 Hours of Le Mans, Monaco is part of racing’s Triple Crown, and for a good reason. The glitz, the atmosphere, and the sparkle it offers make it a must-see each May.
  • Italian Grand Prix: One of the oldest motor races in the world, the Italian Grand Prix has taken place at the legendary Parco of Monza for over 100 years. A must-visit show for racing enthusiasts, the Italian GP is the quickest circuit on the calendar, with top speeds above 300 km/h. The event gets underway in early September and lasts four days, culminating with the Sunday race.

Betting on F1 explained

With over 20 Grand Prix events in a season, you can make dozens of different types of bets including trying to predict the winner of upcoming F1 races or who will record the fastest lap.

F1 is not as prevalent as NASCAR, but you should be able to find a few top-tier MD sportsbooks that offer lines for Grand Prix events. In addition to win bets on a particular race, you can also place prop bets and futures wagers on GP races:

  • Outright betting: This wager requires you to predict the winner of a specific Grand Prix. The lines are typically updated both before the race kicks off and in real time, as the race gets underway. This is the simplest bet you can make on Formula One and a great option to start with if you’re a rookie to F1 betting.
  • Finishing: This is essentially a subcategory of outright betting and involves predicting the driver in the race who you think will end up at the podium (position one to three). There are a few variations to this market, including top six or top 10. Alternatively, you can pick the constructor to win rather than an individual driver. Since betting on a team’s finishing position is typically a safer bet than the race winner, it comes with shorter odds.
  • Futures: Potentially the most lucrative form of Formula 1 betting is backing the eventual champion or the winning team. These are season-long futures, where you can try to predict which driver will finish the year at the top of the leaderboard or which team will be the most successful.

In F1 betting, the drivers usually have positive odds. In rare instances, the top favorites will have negative odds, which indicate that there is a high chance of them winning.

Betting on individual F1 drivers

While a huge payday on the longshots may look tempting, these bets are usually a waste of money. F1 is a sport in which drivers and teams with household names usually get the job done.

Upsets occur every now and then, but most of the time the championships end in the most predictable fashion. Consequently, odds on the biggest favorites are generally low. When it comes to individual drivers, Lewis Hamilton, Max Verstappen, and Valtteri Bottas are typically the most popular choices.

The trio has been at the top of the standings in the past few years, with Hamilton clinching titles from 2017 to 2020, tying Michael Schumacher’s record of seven F1 World Championships. The British driver Lando Norris is potentially an upcoming superstar, while Sergio Perez of Team Red Bull is always among the top contenders.

Sportsbooks will release F1 odds at the beginning of the season. These can fluctuate dramatically depending on how the drivers and teams perform. Naturally, this opens up a host of wagers all year long.

Betting on F1 teams

In F1, there is a set number of teams, usually around 10, with each consisting of two drivers. The FIA (International Automobile Federation) uses a point-based system to determine champions in two categories. The constructor that accrues the most points throughout the season wins the World Constructors’ Championship trophy, while the top-performing racer in a season receives the F1 World Driver’s Championship.

The top teams in F1 are Ferrari, McLaren, and Mercedes, although Red Bull has been successful in recent years thanks to Max Verstappen and Sergio Perez.

Mercedes has reigned supreme over the past several years, propelled by Lewis Hamilton and Valtteri Bottas. Ferrari had its heyday in the Michael Schumacher era, but now it seems to be in a down cycle. It’s still the most successful team in F1 history, though, with 16 constructor titles and 15 driver titles.

Additional betting options for F1

At some online sportsbooks, you can place bets on F1 while the race is in progress. The thing that makes F1 live betting distinct is that you’re constantly reassessing your decisions in complex situations throughout the race. For instance, all drivers must make a pit stop to change their tires at least once in a race. Accurately predicting when this happens could give you an edge when placing live bets on Formula One.

You can also choose from a range of side bets, like which driver will get the fastest lap. With some F1 betting sites, you can even try to predict which driver will retire first or how many cars will finish the race. Bets are also possible for qualifying rounds or head-to-head matchups, where you choose between two drivers/teams to finish higher in a race. If a safety car will appear also is a popular prop.

F1 betting tips

In F1, there are multiple variables to study before each race. For instance, in certain races, the starting position plays a pivotal role. Whereas in circuits where passing is more common it’s not as important. Sometimes, the management of tires can be paramount during a race, giving one team an advantage over the other contenders. Even the weather can have an impact on the outcome.

Below, we’ve listed a couple of tips that could help boost your F1 betting success:

  • Factor in the weather: Weather conditions such as heat, rain, cold, and wind can play a major role in the outcome of a Grand Prix. Some drivers perform superbly in the rain, while others have a harder time adapting to the conditions. Cars also handle weather conditions differently, giving some constructors an advantage over others.
  • Take note of the grid positions: Depending on the circuit, grid positions can have a huge impact on the final result. Starting on the pole is a huge advantage on those tracks where it’s hard to overtake. Conversely, the Canadian Grand Prix circuit has several passing areas, making it easier to find value in betting on drivers who aren’t on the pole.

How do F1 odds change between sportsbooks/races?

The lines and prices for the F1 betting markets move frequently. For example, if a team wins the first couple of Grands Prix, its odds of winning the Constructors’ Championship will shift to reflect that. But if it underperforms further down the stretch, those odds will rise.

In general, US and European-based sportsbooks post similarly priced F1 betting odds. You could come across some inconsistencies because Formula One tends to have much higher liquidity in Europe than in the US, which can affect the odds movement.

F1 betting vs. NASCAR betting

In terms of betting appeal in the US, F1 ranks a tier below NASCAR betting. As a result, the latter enjoys far better market coverage by sportsbooks and offers some race props that aren’t available for F1. Also, plenty of books release NASCAR-related promos, like boosted odds or insurance deals, while such online bonuses for F1 races are difficult to come by.

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