F1 or Formula 1 has a wide range of fans globally, and betting on these Formula 1 games is also popular. It is one of the most prestigious forms of motorsport racing. If you are a Formula 1 enthusiast, you could bet on it and make a large sum of money through these bettings if made cleverly. To make the bet, you should first know about the types of bets. To choose which one is suitable for you to make this article will help you in knowing the types of bets placed in Formula 1 racing along with how to place it.
Types of F1
There are many different types of F1 betting. I have mentioned some of them below.
- Race Winner
- Podium Finish
- Prop Bets
- Pole Position
- Futures
- Head-to-Head Betting
- Live F1 Betting
Race Winner
The most popular F1 betting pick is to bet on the Grand Prix winner. Usually, only a few drivers have a real chance of winning, like 5 drivers in the 2022 season. It is similar for the teams too. In 2022, only 3 teams had the real opportunity for winning. When you bet on a player, just like in any other sport, in F1 here is also the favorite. For example, Charles Leclerc might be the favorite to win the Monaco Grand Pix at -120 (bet $120 to win $100). Carlos Sainz Jr. might be the next closest at +200 (bet $100 to win $200). The other drivers have higher odds, making them hard to win, and underdogs might have odds like 1500/1, making them hard to win.
Podium finish
A podium finish bet is when you bet on the driver to finish in the top three. (the 1st, 2nd, or 3rd position) the odds are lower than the betting on a race winner, but you will still win if the driver finishes in any of these positions. It doesn’t matter in which position the driver finishes in; you will win the same amount as long as they make it to the podium in the top three. You can place this bet when you are not sure if a driver will win but you know that they will finish in the top three and also when multiple drivers have the chance of winning.
Prop Bets
Prop bets are more about luck than skill, and they cost comparatively high. This bet is not about the winner; it rather focuses on the race. Bets can be placed for questions like:
- Will the safety car appear during the race?
- Will a driver finish in the top 10?
- What country will the winning driver be from?
- How many race cautions will be there during the race?
- Who will lead the most laps?
- Who will record the fastest lap?
Pole Position
In Formula 1 racing, the starting grid is decided by the qualifying sessions before the race. Betting on the driver for pole position means you think they will have the fastest qualifying time and start the race in the first place. Getting the pole position is a big deal because it gives the driver a huge advantage. The best driver always aims to start from the pole position, so it is a competitive market. When betting on the pole position, you are predicting who is the fastest in the qualifying and gets the best spot.
Futures
The future bets let you bet on the outcome of the F1 season rather than individual races. Who can bet on things like who will win the best driver of the season and the best team of the team? These bets are available long before the season even starts and can be placed throughout the year. In recent years, some of the players have dominated the competition, making it easier to predict the outcome. For example, Sebastian Vettel has won four years in a row (2010-2013), Lewis Hamilton won six out of seven seasons (2014-2020), and Max Verstappen won two years in a row (2021-2022).
Head-to-Head Betting
Head-to-head betting lets you bet on which driver will finish ahead of another driver in a race. It doesn’t matter where they finish overall, just who beats who. For example, you could bet on Lewis Hamilton to finish ahead of Charles Leclerc.
Live F1 Betting
Live f1 betting, which is also known as in-play betting, lets you bet on a race as it is happening. This type of bet requires quick thinking and decision-making.
How to bet on F1 (Step By Step Instructions)
Step 1: First, you must log in to your Sportsbook account to place the bet; if you already don’t have an account, you must create one. Go to the sportsbook website, and you can find the join option at the top right-hand side of the site. Click on it.
Step 2: After clicking on the Join Now button, fill out the form with your details, such as name, email ID, date of birth, and the country you reside in, etc.
Step 3: After successfully signing up, now it’s time to deposit the funds. Head to the cashier section and add the initial deposit to your account. There are various payment options that the sportsbook provides, like credit, debit, crypto, etc. You could also get welcome bonuses and first deposit bonuses.
Step 4: Now it is time to find the race you want to bet on. From the sports homepage, scan down the sports menu, and you can find Formula 1 from it. Click on the Formula 1 option.
Step 5: Once you have decided what race to bet on, it’s time to place the bet. Add the selected race and how much you are betting on to the bet slip. Read again and confirm it by ticking on the box.
Just like that, your bet I placed. All you have to do is now wait for the outcome to know if you won the bet or not.
Tips while betting on the Formula 1
- Do your research before placing an F1 bet. Staying updated about F1 news and updates helps you make better decisions while placing the bet.
- When you join an F1 betting site, there will mostly be a welcome bonus; take advantage of it.
- Betting on the favorite might seem like a safe bet, but it is not always the best way to win big. Favorites have low odds, which means you need to bet more to win a decent amount; this increases the risk. Instead, you can sometimes bet on the underdog with better odds.
- F1 drivers often have a pretty good history with a specific track, making them a good bet to win. Look for players who have a strong record when it comes to that circuit. Like Lewis Hamilton, who won 5 wins at the Spanish GP, Michael Schumacher had 4 wins in a row at the USA GP. Before betting, check on the player’s recent form, the car’s performance, and changes in the track layout, as these wins happened sometime before.
- Wait until just before the race to be, so you can see if the weather will impact the race. Rain, snow, or extreme heat—anything can change everything.
Conclusion
To sum it up, Formula 1 betting could be profitable betting when done right, and now you know the different types of betting done in Formula 1. You can now choose the bet that is suitable for you easily. Through this article, I have also mentioned how to place the bet and some tips along with it, which will come in handy while betting.
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