If you are interested in Formula 1 and betting, online sportsbooks provide multiple opportunities to test their luck and knowledge. From predicting the race winner to betting on podium finishes and fastest laps, there are many options to use to make profit on races. If you want to start betting on your favorite car race competition, you may need a guide to various types of Formula 1 bets.
Types of Formula 1 bets on sportsbook sites
One can find multiple types of bets at online sportsbooks, but most of them can be applied to sports like football, basketball, or rugby. When it comes to motorsport and Formula 1 in particular, pages with odds look slightly different. To understand how to place bets on drivers and teams, you need to know about types of Formula 1 bets first.
In this guide, we’ll list the most popular wagers you can meet at various sportsbooks. The list is incomplete as there are dozens of different options on the internet, so we have chosen the most profitable and widespread options among F1 fans.
The most widespread types of Formula 1 bets are:
- Race winners
- Matchup bets
- Top 3
- Winning margin
All Formula 1 fans enjoy predicting the next Formula 1 race winner, and this is a fact. As its name suggests, this bet lets you choose the driver who will cross the finish line first in the upcoming race. If your favorite wins, your bet wins too – that’s how it works.
There are a few things to keep in mind before betting on the race winner. If a driver is considered a favorite, his odds will be low, resulting in a smaller payout. Similarly, if underdogs have higher odds, offering a greater payout if they finish first, but this bet involves a risk.
Also, placing bets on winners may seem easy, but it requires careful consideration of various factors. You should be aware of the driver’s performance in recent races, his past success on this particular track, etc. Don’t blindly bet on the best Formula 1 drivers assuming they always win, although it happens quite often.
Matchup bets in Formula 1 involve wagering on the performance of many drivers. Typically, bookmakers pit up to 6 drivers against each other. They can come from different teams or be teammates – it depends on the sportsbook. Bettors are offered the odds for each driver to finish ahead of the other.
Matchups belong to the most popular types of Formula 1 bets, as they offer an opportunity to benefit from rivalries in F1, especially if you root for someone. Also, this type of bet allows you to focus on the head-to-head competition between rivals, rather than the overall race result.
Besides predicting the race winner, you can bet on a driver finishing on the podium. What’s important, his final place doesn’t matter; if the driver enters the top 3, your bet wins. This type of wager provides a broader scope and a higher probability of success, as it allows for more flexibility in predicting the outcome of each race.
Some sites also invite you to bet on Top 6 following the same principles, but Top 3 is a much more popular option that can be found at most online sportsbooks.
Another intriguing betting option in Formula 1 is winning margin. This bet involves predicting the time difference between the race winner and runner-up. Most online sportsbooks have it, so winning margin can be definitely called one of the most popular types of Formula 1 bets.
The way bookmakers present WM odds may differ. Some sites show them as Over/Under based on a single time difference, while the others split them in groups. Also, certain sportsbooks allow wagering on WM using the latest online betting bonuses.
Finally, there are futures or future bets. In Formula 1, they mostly involve predicting the outcome of the entire championship. You can bet on the next F1 champion and the next team to win Constructors cup. These bets require a long-term commitment, as the outcomes are determined when the entire season is over. They are also harder to predict if you have just started to watch F1 races. Even long-term fans can sometimes be mistaken, as Formula 1 remains an unpredictable competition, and that’s why we love it.