F1 betting markets: 13 most popular bets on a Formula 1 race

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Formula One is an auto-sport that merges thrill and excitement and puts forward an incredible and nerve-wracking show each time you watch it. This infamous sport is quite a famous sport to place a bet on. But what F1 betting markets are available?

Fans of Formula One can place bets on various aspects of the race they are watching. During Formula One’s early days, one could only bet via one medium – in person. 

However, with the rapid development of technology, Formula One fans usually bet online now.

You must understand every aspect of betting in Formula One to minimize risk and avail maximum profit. 

Numerous different ways of betting are available, and an individual must be willing to thoroughly research before betting on anything. Any individual who chooses to bet on Formula One must know the various bets they could wager on. Some bets carry more risk than others and you need to have a betting strategy for Formula 1 racing.

Therefore, you must understand every aspect of betting in Formula One to minimize risk and avail maximum profit. 

To ease this task, we have broken down the different types of bets available in Formula One.

Table of Contents

Winning driver

Bet on a winning driver in Formula 1

The winning driver bet is one of the most famous bets a user will come across in Formula One. This bet is relatively straightforward and quite self-explanatory. This type of betting is also often referred to as outright betting. 

In this type of betting, a user must analyze various odds for the competitors in an F1 race. After analyzing the odds, the user must place a bet on who they think will win the specific race. 

The winning driver bet is the optimum bet for first-time bettors as it does not require any prior experience, and no in-depth knowledge about the sport is needed. If the driver you predicted happens to win the race, you will win the bet and will win the payout amount you initially agreed to.

Pole position and lowest odds

Generally, the competitor with the best standing in the race will have the lowest odds. A factor to consider is the odds of the driver you wish to bet on. 

The odds of winning are inversely related to the profit you may earn. This inverse relationship implies that if you bet on a driver with minimal chances of winning the race and he happens to bag victory, a double win will come walking towards you! 

To place a winning bet, you must select the odds, enter the amount you are willing to wager, and submit. You should cross your fingers once you have placed your bet and pray it works out in your favor!

Pros

  • Typically higher odds in this type of bet
  • Maximized chances of winning the bet
  • An intriguing way to enjoy the f1 race
  • One can observe the race and thoroughly examine the odds before betting
  • There are usually plenty of different drivers to choose from, so finding value shouldn’t be too difficult.

Cons

  • An individual would have to sit through the entire race to find out if they won the bet
  • Many platforms don’t offer this type of bet
  • Some platforms allow you to cash out
  • Market is unpredictable
  • There is always an element of risk involved in this type of bet

For example

This sort of bet may be confusing to understand for beginners. We will help you understand this type of bet by considering an example. 

Imagine that Sebastian Vettel is a driver known to have a troublesome pit stop that tends to impact his game and ends up in the 10th position when he rejoins the track after his pit stop. 

Whereas this driver may not have the best record with pitstops, you must delve deeper into research. As per your research, Sebastian is renowned for his podium finishes even when he is standing in last place. 

The odds of Sebastian winning will be lower toward the end than the beginning. Therefore, if you placed a bet on Sebastian bagging victory after thorough research, you will ultimately win the bet. You must dig deeper into statistics before you place your bet.

Fastest qualifier

Bet on the fastest qualifier in Formula 1

This bet is also quite simple to grasp. The qualification process is carried out in three stages meaning that users have ample time to decide which user they should place a bet on. 

The six drivers who took the longest to complete the sessions will have to drop out. The remaining drivers compete in the third qualifying session to achieve the top places on the grid.

The competitor who achieves the fastest qualifying time in the third and final qualifying session is labeled the winner. This bet requires users to place a bet on the driver they think will qualify in the shortest time. 

Users must carry out a sufficient amount of research for this and analyze statistics about the drivers before they bet on a specific driver. Similar to what we mentioned above, if the driver you bet on ends up qualifying the fastest, you will win the bet.

Pros

  • Maximized chances of winning the bet
  • An intriguing way to enjoy the f1 qualification race
  • One can observe the race and thoroughly examine the odds before betting on a specific driver
  • An individual would have seen how the cars performed at the circuit while the three free practice sessions were being conducted which would allow them to draw a valid conclusion

Cons

  • One would have to watch all three qualifying sessions

For example

If you predict that Mac Verstappen will be the first driver to qualify in the qualifying session in the shortest time and your prediction is accurate – you will ultimately win the bet.

Winning constructor

Bet on the winning constructor in Formula 1

Formula One constructors are essential elements of this auto sport. Constructors refer to the companies or manufacturers who are given the responsibility to develop and construct the cars that F1 drivers will use to compete in their respective races. 

Every constructor is represented in Formula One by two racing drivers and a team that competes in every Grand Prix to accumulate points for the World Championship. 

When a single race is going on, a user may place a bet on which constructor they think will win.

Pros

  • Two teams can have the same constructor which gives you a higher chance of winning
  • This bet is comparatively easy to win
  • One could simply analyze previous statistics and make a prediction based on that

Cons

  • Thorough research regarding different constructors is a must

For example

Constructors include Ferrari, Red Bull, Mercedes and so on. Let’s say that you predicted Ferrari would happen to gather the most points at the end of the race. If this happens to be the case, you would win the bet. 

Podium finish

Bet on podium finish in F1

The podium finish bet offers more value than the other bets mentioned as it has a higher proportionality of winning. A podium finish bet is when a user places a bet on the driver they think will end up in the top three positions. 

This specific type of Formula 1 bet could be the finest way of getting a profit given that you analyze statistics and bet on a racer with a good track record.

Regardless of the racer’s performance throughout the race, there is still a high chance that they will sneak their way into the podium by grabbing one of the top three positions. This type of bet implies that users can bet on different drivers to maximize their chances of winning the bet. 

When you bet on Formula 1 and the bet refers to the finishing position, you need to choose the racer in the race that you think will end up in the top three positions. These bets provide more flexibility as you have three chances of winning the bet. 

This bet is great among beginners due to the maximized chances of winning and the fact that no prior experience in the betting world is required. 

Since this bet provides users with three chances of winning, it is regarded as a safer choice when compared to the winning driver bet as it surrounds solely one winner.

Pros

  • Safer choice when compared to winning driver
  • Three times the chances of winning
  • More flexibility means that higher chance of winning
  • Ideal betting method for beginners

Cons

  • Thorough research is required
  • Odds may change drastically throughout the game
  • The odds of these bets are usually lower due to the improved chances

For example

For instance, you predict that Max Verstappen will end up with a podium finish. Unlike outright betting, you would win if Max bags first, second or third position. 

The only requirement is that the driver you predict must win a podium position.

Pole position

Bet on who wins the pole position in Formula 1

The pole position is decided a day before the race day during the third and final qualifying session. The drivers must complete laps in a short period to avoid getting eliminated. The official F1 qualifying rules state the driver who qualifies with the fastest time after all the laps is awarded the pole position.

Pole position means that the racer will start first, which gives racers a significant advantage. The pole position bets refer to the bets in which the user chooses the driver who will have the best qualifying time which would ultimately award them with the pole position. 

This user must bet before the third qualifying session and requires a user to predict the racer who they think will be able to complete all laps and finish the third qualifying, also known as Q3, with the fastest lap. Read more about Formula 1 qualification rules.

Pros

  • The user must predict the third qualifying session. Since they have already witnessed the previous two sessions and have an idea of the performance of the racers, they will be able to draw a valid conclusion
  • Easier to predict

Cons

  • An individual must ensure to carry out thorough research
  • One must have watched all qualifying sessions to draw a valid conclusion

For example

Consider you predicted Lewis Hamilton would be able to win qualifications. If you happened to predict accurately, and Lewis Hamilton was the one winning pole position – you win the bet!

Fastest lap

Bet on who makes the fastest lap in Formule One

What inclines users towards betting on Formula One is the simplicity and straightforward nature of the betting system. 

As the name implies, this bet requires you to predict which driver will complete a lap in the fastest time. If you happen to predict correctly, you win the bet. 

Fans of Formula One may make their prediction after researching the average time the racers take to finish a lap. 

Once they have an idea of the time a specific driver takes to finish a lap, they may be able to accurately predict which driver will complete the quickest lap during the race.

Pros

  • Easy bet to win as you may analyze statistics
  • Higher chances of winning

Cons

  • The driver you predict may not be able to complete the lab quickly due to technical mishaps
  • Thorough research is required

For example

This bet is quite straightforward. Consider you predicted that Michele Alboreto would be the driver to complete the lap in the fastest time. If you predict correctly, you would win the bet and get a profit.

Winning margin

Bet on the winning margin F1

If you have participated in an over/under bet before, this bet should be simple to comprehend. 

In any sport, betting on the winning margin means that you are betting on the margin that will separate the closest two candidates. 

Unlike outright bets or podium finishes bets, you are not predicting which individual will win. Instead, you are wagering on the winning margin.

Pros

  • Instead of predicting an individual, you are predicting the winning margin
  • This is a simple over/under bet which means higher chances of winning

Cons

  • Extensive research must be carried out before you predict anything
  • The winning margin may be affected due to technical mishaps or car crashes

For example

Let’s say that the winning margin of a race is advertised by a bookmaker as 7.5 seconds. If you believe it will be more than 7.5 seconds, simply place your wager. If your prediction is right at the end of the race, you will win the bet.

Safety car

Bet on the fastest lap in F1

A Safety Car means the need for a safety car to appear in front of the leading car during a specified race. 

Similar to the winning margin bet, this bet is simple to understand. You will be provided with two options, Yes and No. 

All you need to do is predict whether a safety car will appear on the track during the game. 

You may choose ‘Yes’ if you think a safety car will be present on the track and may choose ‘No’ if you predict otherwise.

Pros

  • Ideal for beginners
  • Simple yes/no bet
  • Maximized chances of winning
  • Formula one is a dangerous sport, and safety is a huge concern 

Cons

  • Can be difficult to predict at times
  • Odds can vary greatly
  • The appearance of a virtual safety car does not count

For example

Suppose you bet that a safety car will make an appearance in the race due to any mishap or casualties on the track such as a car crash or bad weather conditions such as rain or storm. 

If your prediction is right and the safety car has to show up, you will win the bet.

Long term bets on Formula 1

The different types of bets that we have mentioned above usually refer to bets that are about one race only and outcomes are known by the end of that race. 

Another infamous form of betting in Formula One is long-term betting, which requires fans to predict different elements of the game that are to take place into the near future. 

For instance, any bets placed on the champion and the winning team will count as long-term bets as it takes considerable waiting time before it’s decided whether you won or lost the bet. 

This betting shares many similarities with outright betting. However, in the outright betting, a fan would only predict the winner of a single race. In this betting, you are essentially betting on the driver or the team that accumulates the highest points.

The intriguing part of this bet is that the odds can change dramatically throughout the season. One team’s score may improve, while the other team’s overall score may fall toward the end of the game. 

If you prefer long-term betting, keep reading below as we have broken down the various types of bets you can place.

Championship winner

In this type of betting, a user must analyze various odds for the competitors in an F1 race throughout the season. Once they are through with analyzing the odds throughout the season, the user must place a bet on who they think will be able to gather the most points at the end of the season. 

If the driver you predicted happens to win the championship at the end of the season, you will ultimately win the bet and will win the payout amount you initially agreed to. Unlike outright betting, in this type of betting, you are betting on who you think will win the overall competition and not individual races.

Some platforms only allow users to bet on this before the season starts. However, some platforms do allow users to bet throughout the season as initially, limited odds are available which present users with minimal chances of winning.

Driver to retire

This bet is self-explanatory and requires drivers to predict which racer they feel will be forced to retire from the race first. This may happen due to numerous reasons which include technical issues with their f1 cars or crashes. 

While this may be difficult to predict as any technical issues may arise, this is what makes this bet so thrilling. All a user needs to do is predict the driver who they think will retire first, and if their prediction is accurate, they win the bet.

Team/Constructor winner

When a Formula one season takes place, two competitions are held simultaneously. A championship that takes place between the F1 competitors, and the constructor’s championship.

The constructor with the most points at the end of the season is the winning constructor. If a bettor bets on the constructor team they think will be the winning constructor and that team ends up with the most points at the end of the season, they ultimately win the bet.

Driver/Team specials

Sometimes bets can get quite boring, which is why special bets help spice things up. A special bet is different and unique and is not quite ordinary. 

The bets mentioned above fall into the driver/team specials bet category. Other bets include predicting how many racers will be able to finish the grand Prix, driver vs driver bets, and so on! 

Combined markets

If the bets mentioned above do not appeal to you, opting for a combined bet might be what you are looking for! A combination bet is a betting market that entails a bet that is made up of a different combination of bets.

Frequently asked questions

Where can I bet on Formula 1?

The Formula One championship comprises 23 races that you may bet on throughout the championship. You may bet by signing up on a formula one betting site.

How do I read F1 betting odds?

Like any other sport, decoding F1 betting odds is quite simple. The negative symbol represents the odds. The number that follows the symbol states how much you need to bet for every hundred dollars you would like to win The number that accompanies the negative symbol (the odds) reveals how much to bet for every $100 you want to win.

Can I bet on the next F1 Driver Championship winner?

Yes! You can. This would fall under a long-term bet. Some platforms offer this sort of bet at only the beginning of the season. However, a few platforms do offer this bet throughout the season.

Conclusion

Betting on Formula One is undoubtedly one of the finest ways to enjoy a race. Betting adds a layer of thrill and excitement to the race you are watching and also provides you with the opportunity to potentially elevate your income. 

You must take the odds and previous statistics into view before you decide as they lay down the foundation of success in the betting world. At the end of the day, the most important thing is that you enjoy every little bit of it, while also simultaneously playing smart. Read more about the leading Formula 1 betting sites to choose the right one for you.

Disclaimer

Gambling can be addictive and may result in difficulties to stop even when you know it is causing issues. Gambling is not a solution for financial problems – only play for what you can afford to lose! Keep track of how much time and money you are spending online and take action if needed. Play responsibly.

Article sources

Anton Gustafsson
Anton Gustafssonhttps://formulapedia.com
Anton is a Swedish Formula One expert and he is the co-founder of Formulapedia.com. He is a big fan of Formula 1 and he cheers for the Italian team Scuderia Ferrari. Anton has not missed a single Grand Prix since he started following F1 a few years ago.

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