Can you bet on Formula 1 (or F1) is a question we often get asked, and the answer is – YES!
F1 is a very exciting sport to bet on, with cars whizzing around a variety of tracks at around 220mph. You can bet on your favourite driver to win a race or record a podium finish, and there is a variety of other F1 bets you might want to consider.
Why Do People Bet On F1?
Most people bet on sports because a bet enhances the excitement of the sport they love, and it’s no different with F1 fans. F1 fans are often referred to as revheads but, whether you know everything there is to know about F1 racing or just like the thrill of cars speeding around a racetrack, a bet can definitely increase your excitement. Just remember never to bet more than you can afford to lose, or that excitement may quickly turn into despair.
There are also other elements of F1 racing that add further thrills, such as the uncertainty of pitstops. Will they be long or short and in what position will drivers reemerge from the pits? There are also crashes and, while we don’t like to see drivers crash, the possibility of it happening does keep you on the edge of your seat.
Another reason why revheads love F1 is the exotic locations of the races and the idiosyncrasies of the racetracks. Whether drivers are speeding around the tight turns of the streets of Monte Carlo or the 18 iconic bends of Silverstone, there are always a variety of tactical nuances to consider.
Types Of F1 Bets
Around 20 cars normally line-up for a Grand Prix and you can bet on which driver wins the race. You can also bet on a driver to record a podium finish (first, second, or third), but the odds for this are much shorter than they are for your drive to win the race.
For example, you might be able to get 5/4 (2.25) about Lewis Hamilton winning a Grand Prix, but you’ll only get 1/5 (1.20) about him finishing on the podium. This is where you need to carefully weigh up which is the best value F1 bet.
Let’s say that Lewis Hamilton averagely wins four out of every eight races. That makes him an even-money shot to win, so 5/4 is good value. However, while he wins four out of eight races, he only places in two of the other four and finishes unplaced in the other two.
That means he places in six out of eight races. That means he’s a 1/3 shot to record a podium finish but, as only 1/5 is available with the bookies, that’s not a value bet.
You can also bet on drivers recording a points-finish. So, while some drivers may not be regular winners, you could make a profit betting on them if they consistently finish in the points in races.
You can also place season-long bets. There are normally 21 F1 races in a season and you can bet on which driver will be crowned the world champion and which team will win the constructor’s championship at the end of the season.
Other F1 betting markets you may wish to explore include fastest lap, safety car, top-6 finish, winning team, and number of finishers.
If you like a quicker and bigger buzz, then in-play F1 betting is the way to go. Once the race has started, the odds may fluctuate greatly from the pre-race odds, especially if the start didn’t go to plan for some drivers.
For example, let’s say that Lewis Hamilton made an uncharacteristically slow start and gets shuffled back to fifth after starting in pole position. His odds have been pushed out by the bookmakers to win the race, so you need to weigh-up if he’s good enough to haul himself back in a winning position.
You can get your stopwatch out and see if his laps times are faster, but is he going to get past the cars in front of him? This may well depend where the race is, as some racetracks are much harder to overtake at than others.
Pitstops can also be crucial, especially when weather conditions change, and drivers face the dilemma of maybe having to change tyres. But this all adds to the excitement and gives you more betting angles to exploit.
Listening to the commentators can help you with some important information, as they’re usually a fountain of knowledge. However, you’ll need to decide whether it’s going to pay to go with the flow or take the opposite approach.
How Do You Pick Good F1 Bets?
Just like when you’re betting on any sport, you should do your homework. The past form of a driver at a racetrack may suggest how he may perform this time, but you need to marry that with how the cars and drivers are performing in the present season.
It’s also a good idea to watch the qualifying races, as this is where drivers try and set the fastest laps to determine how high they will start on the grid in the race. Pole position can mean everything around some tracks, but it isn’t as important at others.
Watch out for drivers and cars that have improved with each run, as they may well keep on improving and brings their best performance to race day.
It’s also a good idea to delve deep into statistics for F1 races, as you’re looking for value bets, meaning that the odds about a selection are bigger than you think they should be. This may not always be the case in obvious markets such as picking the winner, but you may find lots of F1 value bets in more obscure markets.
Should I Bet On F1?
Here at Betting Gods, we’ve yet to discover a great F1 tipster, which suggests that F1 isn’t the most profitable sport to bet on. However, if you think you’ve got what it takes to be an F1 tipster, let us know and we’ll arrange for you to take a trial.
What we do offer here at Betting Gods is a variety of tips from quality tipsters who specialize in other sports such as horse racing, football, basketball, tennis, golf, ice hockey, and American football.
Even better, all you need to do is drop us your email and we’ll send you daily free tips from a sample of our tipsters. All our tipsters also offer affordable monthly subscription services that allow you to receive all their tips. These services also come with advice about staking plans and bankroll management.