F1 betting sites allow you to place a variety of bet on Formula 1 races before and as they occur. The best F1 betting sites offer several events to wager on, including the Drivers Championship and the Constructors Championship, with teams like Red Bull, Ferrari, McLaren and Williams. Those seeking the highest quality online betting sites for F1 should look for qualities such as varied betting options and deposit methods, 24/7 customer service, intuitive software and large, lucrative bonuses to pad your bankroll.
Online Formula 1 Betting
Formula 1 racing is a huge international sport that draws betting action from all over the world. Nearly every online bookmaker offers betting on Formula 1 races, along with futures bets for the World Drivers Championship and World Constructors Championship.
While there are only 5-7 drivers that will win races in most seasons, predicting the one will win the upcoming race can be challenging. A lot of factors come into play, including rule changes, weather, circuit conditions, fuel strategies, and many other things. Also, certain drivers do well as particular circuits, while others do not. Some cars are better on tight circuits with a lot of hard turns, while others do better on circuits with long straights and higher speeds.
Beyond all of that, most people involved in Formula 1 racing will say that the single most important aspect to winning races comes down to tires. Teams are required to use different types of tires during races, and how/when they use them can be critical to winning a race. Also, some drivers are harder on tires than others, giving them a disadvantage at certain circuits. There’s really a lot more to consider than most realize.
For punters who put in the time to analyze each circuit & check driver stats before placing online sports bets, value can be found. Most casual punters bet on favourites regardless if there is value on him or not. So, savvy F1 punters can find situations where another driver might actually have a better chance to win than the favourite.
An important Formula 1 betting tip is always check circuit stats from previous seasons to see which starting positions are likely to finish on the podium. At some circuits, anyone in P1 – P6 might have a chance. At others, P1 and P2 have dominated for many years. Gran Premio D’Italia (Italian Grand Prix), and the Grand Prix de Monaco are two excellent examples of this. If nobody below P2 has won this race in the last 15 years, why would you bet on the driver in P4?
The ‘sample size’ argument doesn’t translate well in F1 racing. There are legitimate reasons why some circuits greatly favor drivers in P1 or P2, and punters can throw away money if they aren’t betting along with history.
How to Bet on Formula 1 Racing
The most popular way to bet on Formula 1 is by choosing the winner of the race. Matchup bets, Top 3, and Top 6 bets are also common. Futures bets can be placed on the World Drivers Championship and World Constructors Championship, and this can be a fun way to follow a single bet all season long.
Betting on F1 Race Winners
As mentioned above, these are the most popular bets for F1 racing. However, most punters fail to do the research required to make consistent profits betting on race winners. The reason is because casual punters bet heavy on favourites, beyond the point of value. This is especially true when one driver is dominating a season.
One trick to getting the best odds on a heavy favourite is to bet early, well before the public drags the odds down. It’s not uncommon to see a heavy favourite listed in the range of 2.00 to 3.50 a week before the race, then 1.50 to 2.00 right before qualifying. This is a huge difference that punters need to take advantage of. If this driver goes on to win the pole, his odds will get even shorter, putting me in a great position. Of course the risk is in the qualifying. If he qualifies in P2, the odds will generally be in the range I have him at. However, if he qualifies in P3 or P4, his odds will be greater, meaning I’m getting less value on him than I would’ve gotten if I had waited until qualifying was done.
Finding opportunities to bet on P3 or P4 is my favourite way to bet on Formula 1. This strategy only works on circuits where P1 and P2 don’t dominate year after year. For example, I would never do this at Monza.
Here’s the strategy: Instead of getting short odds on the driver in P1 after qualifying, I look for a guy in P3 or P4 that has had success at this circuit in the recent past (last 2-3 years). I also make sure his car is setup well for this circuit. This means that on circuits with long straights, I’m looking for a guy who’s shown high speeds throughout the later stages of practice. On tight circuits with a lot of sharp turns, I want a guy who’s known for being ultra-aggressive. If I can find a driver who fits the bill, I’ll usually find his greatest odds 2-4 hours before the race begins, which is just before the big money comes in on my driver. I can typically get odds in the range of 5.00 to 10.00 on a driver who is giving me far more value than drivers in P1 or P2.
Formula 1 Matchup Bets
Matchup bets are wagers where multiple drivers (usually 2-6) are pitted against each other. The punters job is to predict which driver will have the highest finish within his grouping. Since betting on Formual 1 matchups are popular at a lot of betting sites, be sure to compare matchups and odds at several of them.
Matchup Betting Tip: Never bet on a driver in a matchup bet that you are predicting to win the race. For example, if you see a matchup which includes Sebastian Vettel, Lewis Hamilton, Jenson Button, Mark Webber, and Fernando Alonso…stay away from it. The winner of the race is likely to come from this group anyways, and this matchup bet is only eliminating drivers who are unlikely to win. This matchup will provide lower odds than you can get on your driver to win the race outright, so take that bet instead.
Podium Bets (Top 3 Finishers)
Podium bets are simple wagers where the punters job is to select a driver (or drivers) they expect to finish in the top 3 (on the podium). Whether the driver finishes in 1st, 2nd, or 3rd makes no difference – the payout is always the same.
While punters can find consistent wins with these bets, the odds are generally very short. Some punters like bet on drivers who they think are ‘locks’ to finish on the podium, but I prefer to get better odds on someone in P3-P6 who I think has a realistic shot at the podium. In F1, it only takes a few extra seconds in the pits, a slight mishap with another driver, or a multitude of other mistakes to drop a driver from P2 into P4. Instead, I like to dig into the research more and find a better value. I win less often, but my profits are higher when I do.
Top 6 Bets
Top 6 bets are exactly the same as Top 3 bets, where the punters job is to select a driver that will finish in the top 6 positions. Some Formula 1 online betting sites will offer short odds on the top drivers, while others might not offer them at all. Personally, I like to find drivers in P4-P8 that I can get better odds on. In some races, I’ll bet on two or three drivers, depending on the type of circuit it is (circuits that heavily favor drivers starting high on the grid).
Formula 1 Futures Bets
Almost every online betting site offers Formula 1 futures bets on the World Drivers Championship and World Constructors Championship. The Drivers Champion is the driver who wins the seasonal points race. The Constructors Champion is the team with the highest accumulated points between each of their drivers.
This isn’t always the case, but in most seasons, the constructor of the Drivers Championship car also wins the Constructors Championship. Teams build almost identical cars for both of their drivers, so if one car is good enough to win the Drivers Championship, the other car will be good enough to collect the necessary points for his team to win the Constructors Championship as well.
Bonuses At F1 Online Betting Websites
The best F1 betting websites always offer bonuses to attract new registrants. These include reload deposit bonuses, initial deposit bonuses, referral bonuses, VIP programs and other rotating promotions.
Initial deposit bonuses at top betting sites are offered upon your first deposit at an F1 sportsbook, usually with a matching percentage and a maximum value. For example, a 100% bonus up to $400 will double your initial deposit up to a value of $400. Reload bonuses are usually less lucrative, and are only applied to later deposits. You might need to choose a certain banking method or place a deposit on a certain day of the week to claim reload bonuses.
Referral bonuses reward you with $25, $50 or more for each friend you refer to your F1 betting site. Your friend may receive a bonus as well, though the bonuses usually aren’t cleared until your friend deposits real money.
Other typical promotions include free bets, which you may receive for signing up or for trying new software, and VIP programs. Though VIP programs vary from site to site, they usually offer increasingly large cash rewards for the bettors who wager the most money.