Formula One is the most famous motorsport in the world. It has millions of fans rooting for their favorite teams and drivers. Formula One is also one of the most popular sports to place bets on.
How do you figure out where to place your bets? Which characteristics and statistics to look for when placing a bet on a Formula One team? What different kinds of bets can a gambler place during the Formula One events?Â
Well, we’ve got you all covered. In this article, we will be discussing everything about Formula One betting sites, where to place your bets on, how to place your bets, and more.
Best F1 betting sites 2024
When finding out the best websites to place your bets on for Formula One, you need to check out many factors and select the site which offers them all or has the maximum ticks on your checklist.Â
Now, what should your checklist for the best Formula One betting site contain? One of the foremost things to look for in a betting site is that it should offer as many betting options as there could be.Â
This will give you better access to the betting market and help you know and understand the different kinds of bets.
Bet on F1 with William Hill
- Welcome bonus: €50 / $50 in freebets
- Most betting markets for Formula 1
- Both short- and long-term bets on F1
Disclaimer: Here goes William Hills disclaimer text and links.
Bet on F1 with William Hill
- Up to €100 / $100 i bet credits
- Most betting markets for Formula 1
- Cash out before bet is done
Disclaimer: Here goes William Hills disclaimer text and links.
Bet on F1 with William Hill
- Welcome bonus: €20 / $20 exchange bet
- Many betting markets for Formula 1
-
Cash out before bet is done
Disclaimer: Here goes William Hills disclaimer text and links.
Checking the odds against the result of the bet is also very important as the more competitive odds a website offers the better it is. A website having a live betting session, offering bonuses, and free bets are considered to be the top-rated betting website.Â
Last but the most important aspect is the website should have an easy cash-out option so that you can prevent yourself from further losses.
Discussed below are three of the top-rated betting websites of Formula One. These websites cover most, if not all, of the requirements needed for the best betting website.
1. William Hill
William Hills is one of the best betting websites for Formula One that one could ever find. It is rated a solid 4.5 for all the amazing features that it offers.Â
William Hills is a trusted name among the betting markets and it offers a dozen different kinds of bets that could be placed upon a Formula One game. It also offers one of the best and most competitive odds on Formula One races and also provides helpful betting tips.
William Hills offers daily bet boosts with enhanced odds and has in-play and cash-out available on its website. One of the amazing offers at William Hills is that of betting ten pounds and getting thirty pounds in return if you win.Â
To bet at William Hills for Formula One races, just go through the sports categories and select motor racing. In this section, select Formula One, choose your desired bet, and put your stakes on it.
2. Bet365
Bet365 has made a global presence among gamblers just like Formula One has done for motorsport fans. It has a rating of solid five stars on many rating websites. They offer many different kinds of Formula One bets and also one of the highest betting odds against other betting websites.Â
Bet365 has a live streaming service and also allows live in-play of bets on Formula One races. It offers the biggest welcome bonus for its new customers and also has very fast deposits and withdrawals of the bets placed.Â
Plus, it is also considered to be one of the easiest websites for beginners to navigate through when placing online bets.
3. Betfair
Betfair has been able to stay at the top of its game since its inception in 2000. They offer the highest and most competitive odds for Formula One races and other sports when compared with other betting websites. Betfair also offers an exceptional welcome bonus of up to a hundred dollars in free bets.Â
Apart from this, they have a link with sportsbook and betting exchange and only charge 2% of commissions with some offers on bets placed on their website.Â
They also have one of the fastest deposit and withdrawal systems for bets and offer many kinds of banking and payment methods such as PayPal, Neteller, Mastercard, Visacard, Paysafe, and more.
Can I bet on F1 (Formula 1)?
With Formula One being one of the most popular sports in person and on television, bets and stakes are bound to be placed on it. There are many types of bets that one can place on the game.Â
For example, a gambler can place his bet on one of the finest drivers that he presumes will win the race or the one who will get one of the podium positions.
Key takeaways
- Formula One events are the most popular motorsport events in the world and have a huge plethora of bets that a punter can place to earn decent profits.
- There are many different kinds of bets that a gambler can place during a Grand Prix event. Some are short-term bets that have instant results and others are long-term bets whose outcomes are known at the end of the championship.
- There are many different kinds of apps and websites offering bets to place on Formula One events. The best betting websites are William Hill, Bet365, and Betfair. The best betting apps are Bet365, 888sport, and Unibet.
- There are also a few popular Grand Prix events during which a punter can place his bets and earn decent profits.Â
- Placing bets isn’t that easy and can’t be done just by relying on your instincts. It requires strategy, data analysis, and research so that the probability of winning your bet gets higher.
- There are also some very common mistakes that gamblers tend to make while placing their bets during a Formula One event. Avoiding those mistakes can increase their chances of winning the bet to a considerable percentage.
What type of bet can I place on Formula 1?
Formula One is the most popular motorsport around the world. This means that there are a lot of different bets, wins, and opportunities a gambler can place his stakes on.Â
Every single gambling site offers many different kinds of Formula One bets, so gamblers really have to up their game in researching the odds and events of every single kind of bet.Â
Down below, we have discussed a few of the different kinds of bets that a gambler can put his stakes on during a Formula One race.
Short-term bets on Formula 1
If a gambler would want instant results for his bets, he should go for short-term bets in Formula One. In short-term bets, the driver does not have to wait for a full season to know the outcome of his bet. Discussed below are some of the short-term bets that a gambler can place during the Formula One events.Â
Different short terms bet on Formula 1:
- Bet on the race winner in Formula 1
- Bet on Win, place and each way betting
- Bet on Winning margin
- Bet on Fastest lap
- Bet on Winner grid position
- Bet on Practice
- Bet on the fastest qualifyer in Formula 1
- Bet on the podium finisher in Formula 1
- Bet on Safety car during the race
Race winner
Race winner bet is also known as an outright bet in Formula One. This is one of the simplest types of bet that one could place in a Formula One game. You place a bet on the contestant who you think has the most likelihood of winning the race. If he wins the race, you win the bet, and if he loses the race, you lose the bet as well.
The most important aspect that a gambler has to consider whilst putting his stakes on an outright bet is that the odds of winning are inversely proportional to the amount of profit he will get. This means that if you place your bet on a person who has the most odds of winning, you will get less profit.Â
However, if you bet on a person who has the least odds of winning and he wins the race, you will get a higher amount of profit. Most of the time, popular winners have less amount of odds placed on them, which is why one has to look more deeply into the statistics and the race details to find a driver with more value.
Win, place, and each way betting
In this type of bet, you will place your bet on a winning bet and a place bet with a single ticket. You can win both these bets if your selected driver wins the race. However, you will only win the place bet if your selected driver secures one of the top three positions.
Winning margin
The winning margin is the bet placed upon the difference in time between the first two drivers who cross the finish line. In this type of bet, you will put your stakes on the time difference that you think the first two drivers will have between them. Most betting sites will put a time difference that they think there will be between the first two drivers, and betters have to choose above or under that time. In some cases, three choices are given by the betting sites i.e before, between, and over that time difference.
Fastest lap
The fastest lap is the kind of bet in which you place a bet upon the driver who you think will finish the race within the shortest time. The chances of winning this bet are pretty decent. Plus, it has high odds too as drivers can win or lose the race with a difference of just one point.
Winner grid position
The winner grid position bet is also known as the pole position bet. In this kind of bet, the punter places his bets on the driver who he thinks is most likely to win the first position on the grip, that is the pole position. This is a pretty straightforward type of betting and is to be placed before the qualifying sessions.
Practice
Practice session bets are also one of the most straightforward kinds of bets that are perfect for beginners. In this kind of bet, a gambler places his bet on the driver who he thinks will be the quickest during the practice sessions. Mind you, this isn’t like the pole position or fastest lap bet, which are placed before the qualifying laps. This bet is to be placed before the practice sessions of the Formula One race.
Qualifying
Formula One qualifying takes place in three sessions where the six slowest drivers are eliminated during the first two sessions. The three remaining drivers race in the third qualifying round. In Formula One qualifying bet, a punter will place his bet on the driver that he thinks will have the fastest lap time during the third qualifying session.
Podium, Top6, and points finish
A podium finish bet is one of the safest bets that a gambler could place. In this kind of bet, you put your stakes on a driver who you think will be able to secure a position on the podium. It doesn’t matter if that position is first, second, or third. However, the amount of profit on a podium finish bet is lesser than that of a winning bet as the gambler has higher chances of winning a podium bet.
A Top6 bet is the same as the podium finish bet, but with a slight difference. This kind of bet has three added positions when compared to a podium finish bet. This means that if the driver you placed your bet on, can secure a position among the top 6, you will win the bet. However, this bet isn’t as easy to win as one would think because most bookmakers don’t offer the top6 bets on the best drivers of the race.
Safety car during the race
A safety car bet if the Formula One race is more like a yes or no bet. In this kind of bet, a punter decides whether or not the safety car will appear during the race. If his side of choice tends to happen, he wins the bet.
Long-term bets on Formula 1
Long-term bets are also known as future bets and outright bets. In this kind of bet, the punter places his bets on the outcome at the end of the championship. They are placed on teams and drivers that a punter thinks will win the championship.Â
Long-term bets can be made at the start of the Formula One season and will end at the finale of the championship. Discusses below are some of the long-term bets that a punter can place at the start of Formula One championships.
Different long-term bets on Formula 1:
- Bet on the Driver Championship winner in Formula 1
- Bet on Driver to retire
- Bet on the Constructor Championship in Formula 1
- Bet on Driver/Team specials
- Bet on Combined markets
Championship winner
A championship winner bet is one of the simplest kinds of bets of the long-term bettings that can be placed at the start of the Formula One games. In this kind of bet, a punter will place his bet on the driver that he thinks will eventually win the championship.
Driver to retire
In a driver-to-retire bet, a punter will put his bet on the driver that he thinks is the most likely to retire after the current championship ends.
Team/Constructor winner
In this kind of bet, a punter places his bet on the team that scores the most points at the end of the season and eventually secures the winner position and gets the trophy.
Driver/Team specials
This type of bet is placed on two drivers from the same team who are most likely to secure a higher position toward the end of the season. The outcome of this bet is decided when one of the drivers ends up securing a higher position at the end of the championship. This bet is offered for all of the Formula One teams.
Combined markets
A combined market bet is a bet in which the punter will predict which of the three drivers will end up having the top three positions at the end of the season. In this kind of bet, the punter would have to get his order right if he wants to win.
3 best F1 betting apps 2024
Just like you need to check some factors when placing bets on a betting website, similarly, there are also some requirements that a betting app should meet if you want to place your bets on that app. The first and foremost thing to look for when choosing a betting app for Formula One races is that it should be trustworthy, safe, and secure with all your information and payments.Â
For a top-rated betting app, it must be free to download, easy to use and navigate through, and have modern appealing visuals. Apart from that, it should have a speedy and seamless loading and also have a variety of options for banking and payment methods. Discussed below, are three of the best and top-rated betting apps for Formula One races.
Bet on F1 with William Hill
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Bet on F1 with William Hill
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Bet on F1 with William Hill
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1. Bet365
Just like its website, Bet365 has also been rated among the top three betting apps for Formula One races. It is a trusted name in the motorsport betting industry that offers a huge plethora of bets for Formula One races.Â
Bet365 also offers a welcome bonus and has a fast system for delivering payments of winnings. Plus, they also have 24/7 live chat support in case of any troubles and queries.
2. 888sport
888sport is an international gambling organization and is top-rated for its betting app for Formula One races. 888sport offers a welcome bonus to all its new customers and is a highly trusted betting brand among gamblers from around the world.Â
It offers live betting in-plays for Formula One races and also offers a variety of offers and promos to its customers. Plus, 888sport also has a wide range of payment and banking methods for deposits and withdrawals of bet winnings.
3. Unibet
Unibet is amongst the most successful and popular betting apps for Formula One races in the world. It is a legally licensed brand and has high-end security measures installed to protect its user information, privacy, and data.Â
Unibet offers a wide range of bets for Formula One races with welcome bonuses to its new customers and many other appealing bonuses to its already existing customers. It also offers live in-play betting sessions for Formula One races to its customers.
Strategies and tips for betting on F1
Placing bets on Formula One races is an interesting and exciting way to make some money. However, betting on a Formula One race isn’t that easy and often requires much work and thought to be put in by gamblers before placing their bets.Â
Having said that, gamblers need to know the difference between knowing the sport and knowing how to place a bet on that sport.
Want to know what these differences are and how can you upgrade your strategies for betting on a Formula One race? Discussed below are some of the strategies and tips that you can use whilst placing your bet during a Formula one race. Read more about F1 betting strategy.
Also, read our guide on different types of F1 betting strategies.
Understand the sport as a whole
When placing your bet against a driver or a team you must understand every aspect of the race. You should study every statistic, data analysis, and performance of a driver and the team for recent years on different tracks, seasons, and more.Â
Look for the different skills that each driver possesses. You should not just bet on the top-end positions of the grid, but instead, assess the likelihood of a driver or the team winning that particular bet in those expected conditions and circumstances.Â
Analyzing and assessing the field can really help you get better at live betting sessions and increase your chances of winning the bets you placed.
Don't play everything on one driver
Whenever placing a bet during a Formula One race, do not play everything on one driver. Although, it may seem likely that a driver at a higher grid position is more likely to win the odds. However, this is not the case most of the time.
In Formula One, the odds tend to be very generous. This means that you can place your bets against many drivers rather than focusing on just one. Doing this will increase the likelihood of you winning the odds. Plus, when you place your bets against just one player, the amount of profit earned is decent, meaning that the stakes will be high.Â
However, if you place your bets against many different players, you can adjust your bets and still earn some kind of profit whilst minimizing your losses.
Study every race and driver throughout the season
A gambler must study the races and analyze the performance of different drivers so that he knows who has the better odds of winning the races.Â
For example, if a certain driver is doing well throughout the practice sessions and the qualifying sessions, it is much more likely that he will continue to perform well further ahead in the season.
Apart from studying the driver, a gambler should also know every bit and aspect of races at Formula One events. This is essential because it will help the gambler to have a better idea of predicting which driver will have better chances of winning at this particular race.
Which Grand Prix is the most popular to bet on?
Formula One events are one of the largest sports events taking place around the world. It has more than twenty different events each year, and hence, serves many opportunities for punters to place their bets during those events.Â
However, which Grand Prix is the most popular to bet on is decided by the history of that Grand Prix and whether or not a popular team has a track record at that championship.Â
Discussed below are three of the most popular Grand Prix events that a punter can place his bet on as it has the highest probability of having greater odds at large profits.
1. Bahrain Grand Prix
Bahrain Grand Prix is one of the most popular Grand Prix events to bet on because it has received the award for the best conducted Grand Prix event in its first event only. It is also the second Grand Prix that has conducted its events under floodlights.Â
Plus, this Grand Prix has a history of the most successful drivers of the Formula One championships scoring some of their bests during this Grand Prix.
2. Monaco Grand Prix
Monaco Grand Prix is also among the most popular Grand Prix events to bet on. This is because it is the most picturesque and aesthetic Grand Prix in the world, which is why it has a much larger audience.Â
Apart from that, Monaco has a long history of hosting Formula One Grand Prix events. It has been doing so since 1929. Plus, the track circuits at Monaco are also among the toughest race tracks as it is not easy to overtake other cars on Monaco’s circuits.
3. Italian Grand Prix
Italian Grand Prix events are one of the most famous championships to put your bets on. This is because the tracks of Monza in Italy have a rich history of hosting Formula One events. With a rich history comes interesting records set by the favorite drivers.Â
For example, Lewis Hamilton has won the Italian Grand Prix five times, with the same being for Michael Schumacher. Plus, one of the popular teams of F1, Ferrari, has a rich record set in the history of Italian Grand Prix events.
Tips for success when betting on F1
Betting and winning in a Formula One race is not an easy task. One has to have thorough and deep knowledge about the game and the stakes that come with it. To help beginners or even regular betters, we have discussed below some crucial and very helpful tips that you could use for ensuring success in a Formula One bet.
Form – track form and seasonal form
Before placing your bet on any driver, always check the form in which they will be participating in the race. For example, if it is a known fact that a particular driver is winning the same Grand Prix for consecutive years, then it is much more likely that they will win this year too.Â
However, don’t just rely on your history books and sentiments for that driver. Check out the recent statistics and the form of that driver in recent races and then place your bets accordingly.
Track layout
Every once in a while, there are changes and alterations made to the Formula One track and circuits. Most of the time, these changes are very minor and go unnoticed by many drivers.Â
However, these changes can impact a driver’s approach and strategy toward a race, and more than often we have seen that drivers who are unrivaled on the Formula One track tend to assess these changes very carefully and then plan their racing techniques.Â
For an oddsmaker, studying the alterations of the tracks can prove to be very important as it could give them an edge over other gamblers. This is possible because drivers take time in adjusting to any changes on the track, meaning that a driver’s performance can be impacted by these alterations.
Tires and track temperatures
Tires are one of the most crucial parts of a Formula One race. The teams in Formula One races are allowed to use only the allotted number of tires on the day of qualifying and the main event. This means that a driver will have to find a strategy that will help him to maintain his fast speed whilst conserving his tires.Â
Apart from the tires, the temperature of the track can also affect the performance of the driver during the event. A hot track is more beneficial for a Formula one car than a cold or wet track as hot tracks help the tires to stick more profoundly with the ground, providing grip.Â
This is why it is very important for a gambler to always check the diagnostics of the track and the tires. In addition to this, a gambler should also check the performance of a driver in those sets of tires in that particular track temperature and then place his bet accordingly.
Weather predictions
To have an edge over other gamblers, you also have to check the weather forecast for the day of the Formula One event on which you will be placing your bet. Weather can have a huge impact on the driver’s performance as it completely changes the track conditions.Â
For example, one driver may be good at driving on wet, rainy tracks, whereas, the other has a history of losing his performance on a slippery, wet track.
Grid penalties
Knowing about the grid penalties and how many penalties the desired team or driver has scored is very crucial while placing your bets.Â
Some of the drivers may secure a position on the back of the grid just because their teams have broken rules relating to improvements to the car or the driver has secured a penalty for a track offense.Â
This could possibly lower the chances for the team or the driver that you want to place your bets on. Hence, it is very important to know the number of penalties a team or a driver has before placing your bets on them.
Practice sessions
Assessing a team’s or a driver’s performance during the practice sessions is very important when placing a bet during the Formula One races. This is because, based on their performance during the practice sessions, the winner of the race could be very comprehensible.Â
Plus, during the practice session, the gambler can also assess how a particular track is impacting and will impact the performance of that driver during the main event. This way a gambler can choose and carefully put his stakes on the driver or the team he thinks is most likely to win the event.
Mistakes to avoid when betting on F1
Formula One is that one motorsport with a lot of fandoms. There will be many people testing their luck and placing their bets on the Formula One race. This means that there may be many fans of the race that might want to test their luck and place a bet.Â
However, there is an underlying possibility that a gambler is swayed away by his likeness toward a team or a driver and can make a mistake while assessing the data and placing his bet.Â
Plus, there could also be many other reasons for a mistake while placing a bet in Formula One races. This is why we have discussed a few of the most commonly occurred mistakes done by gamblers from around the world whilst placing their bets on a Formula One race.
Being underprepared with scouting
One of the biggest mistakes that a gambler could make while placing his bets is that he has insufficient knowledge about the game, its players, the odds, stakes, and many other things related to the Formula One sport. Having insufficient knowledge and being underprepared while placing his bets will lower his chances of winning.Â
Let’s suppose a gambler hasn’t properly researched which driver has been performing the best and which driver performs the best on certain types of tracks and in certain conditions.Â
Instead, he places his bets on things that he has just heard and hasn’t done his full research, he may lose the bet. This is why it is very important for a gambler to always know the data and stakes behind his bet so that the probability of him winning is greater.
Understand every market
Another mistake that any gambler could make is that he may not have explored and understood every bet in the Formula One race market.Â
There are hundreds of different kinds of bets that could be placed during a Formula One game, and each bet has a higher chance of likelihood in a certain event than the other one.Â
Understanding and exploring every bet will lead the gambler to find his forte in a certain kind of bet, which could increase his chances of winning.
Relying on Qualifying times
The qualifying sessions can give you a prediction of which driver will have the fastest time lap or will win the race.Â
However, there is a possibility that the driver who scored the pole position during the qualifying session does not end up with the fastest lap during the main event. This could be possible if the driver at the pole position has a more conservative approach toward the drivers at the back of the grid.Â
Having said that, it doesn’t always have to be this way. If a driver is in-form during the main event as he was on the day of qualifying, backing him up would make perfect sense as he would have a high probability of securing a position and you winning your bet.
Frequently asked questions
Does every online bookmaker cover Formula 1?
What is the best bet for F1 racing?
Can you bet on F1 in the USA?
Does Betway do F1?
Should you bet on a favorite or an underdog?
Conclusion
There is no doubt that Formula One events are very popular motorsports around the world and have a very huge fandom. In addition to that, with the stakes and math that go into each of the events, the number of punters betting their odds on Formula One games is also very high.Â
Hence, if one wants to increase his chances of winning the bets that he placed during the event he has to follow and apply some tips and strategies with always having a forefront in completing his research and knowing what kind of bets to play during which events.
Article sources
- https://www.legitgamblingsites.com/online-betting/f1/
- https://www.gamblingsites.com/sports-betting/formula-1/#:~:text=Betting%20on%20F1%20Races,-Many%20believe%20that&text=You%20can%20place%20a%20wager,as%20the%20race%20is%20over.
- https://www.thesportsgeek.com/sports-betting/f1/#:~:text=Futures%20Bets,will%20win%20the%20Driver's%20Championship.
- https://sportsbettingsites.org/f1-betting/types/