F1 Betting Preview: British Grand Prix Odds

The British Grand Prix has been a hit with drivers and racing fans ever since it was first held in 1926. Today, more than 3.4 million people in the UK alone watch the world’s best race around Silverstone in search of F1 glory. In fact, such is its popularity that almost as many people bet on the British Grand Prix. 

Because of this, we’ve put our expertise to good use and compiled the ultimate Formula 1 betting guide. In the following sections, we’ll not only give you a general overview of how and where to bet but tips on what to wager money on. So, if you want the latest British Grand Prix odds and how to get maximum value from the UK’s top sportsbooks, scroll down now.

What is the British Grand Prix 2023 starting grid?

The starting grid for the British Grand Prix will almost certainly consist of the world’s top ten drivers. We can’t give you the exact line-up because that won’t be determined until the qualifying stage is over. Practice sessions run from July 7 to July 8. From there, qualifying times will be determined on July 8.  Once each driver has posted a qualifying time, they’ll get a place on the Silverstone starting grid ahead of the big race on July 9. 

If you’re going to bet on the British Grand Prix, our first tip is to watch the practice sessions and qualifying laps. These preliminary laps of Silverstone Circuit will give you an idea of which drivers are in form, how the cars are performing and what condition the track is in. 

In lieu of the qualifying session, we can give you an idea of what the starting grid will look like. We can do this by deferring to the current F1 Drivers Championship standings. The following list shows the ranking of each F1 driver and should give you an idea of the betting favourites heading into this weekend’s Silverstone Grand Prix:

How do British Grand Prix betting odds work?

Grand Prix betting odds tell you the perceived likelihood of something happening. This statement seems fairly simple, and it is. However, there are some specifics you need to know before you check out what the top F1 betting sites have to offer. 

Indeed, you can’t enjoy the rush of British Grand Prix betting without understanding how the odds work. Moreover, our Formula 1 tips won’t mean much if you can’t grasp the numerical nuances of betting odds. So, with this in mind, here’s an overview of how racing odds work:

Definition

Grand Prix betting odds focus on a specific outcome/s and how likely it is to happen, according to the oddsmakers.

Example

• Outcome: Lewis Hamilton to win the British Grand Prix (i.e. he finishes first)
• Odds: 2/1

In this example, 2/1 odds tell us that the bookmakers believe Lewis Hamilton has a 33% chance of winning the British GP. How do we know this? Betting odds are based on probabilities. Bookmakers first decide how probable it is that something will happen. They assign a percentage to that probability, and this gets converted into betting odds.

Equation

You can work out the perceived probabilities with this equation:

• A/B = B/(A+B) X = %: So, for 2/1 odds, the number 2 is A, and the number 1 is B. This gives us the following equation:
• 1/(2+1) = 0.33 X 100 = 33%: You can do this for all sports betting odds, including those for the British Grand Prix. What you can then do is decide whether you agree with the bookmakers. 

Find positive probabilities 

Let’s say you think Lewis Hamilton has a 50% chance of winning. The betting odds for this would be 1/1. Therefore, if one of our recommended Formula 1 sportsbooks is offering 2/1 odds, that’s a good deal. 

Why? Because the oddsmakers are underestimating Hamilton’s chance of winning, in your opinion i.e. they’re offering longer odds than you believe is necessary. This, in turn, means you could win more than the true odds suggest you should.  

Which betting markets are available for the British Grand Prix?

The popularity of the British GP means there are dozens of betting markets you can scour to find the best odds. Indeed, you now know how Formula 1 betting odds work, so you can make informed decisions ahead of the big race. Another variable you need to consider is the type of bet you want to make. 

Some F1 bets allow you to make general predictions, others require you to be more specific. Naturally, the more specific you have to be, the longer the odds are. The longer the odds, the more payout potential bets have. 

However, one of the best F1 betting tips we can give you is to focus on things you understand and are comfortable with. If you like making general predictions, do that. Don’t chase the odds. Now that’s clear, here are the main bets you can make during this year’s Silverstone Grand Prix:

Practice laps and qualifying

These bets are available before the race starts. You can wager money on things such as the fastest lap time, the quickest driver, the slowest driver and what the starting grid will be. Some odds we found when scrolling through the latest British Grand Prix betting markets were:

British Grand Prix 2023 winner

Picking the winner of a race is known as an outright bet. This is the most popular Formula 1 bet you can make because it’s a simple proposition. Either a driver finishes first or they don’t. It’s a binary decision. So, if you think a driver will win, back them. The latest British GP winner odds at talkSPORT BET are:

Podium finish bets

Fans of horse racing know that it’s possible to make each-way bets. These bets allow you to win money if a horse finishes within the top three to five positions (depending on how many runners there are). You can make similar bets in Formula 1. Some UK betting sites classify them as each-way bets, others call them podium bets. The premise is always the same: you’re picking a driver to finish in the top three (i.e. on the podium). 

The podium betting odds for this year’s Silverstone Grand Prix, according to bet365, are:

Winning team odds

If you’re confident that a specific team will triumph at the British GP but you’re not sure which one of its drivers will come out on top, there are betting markets for you. Unsurprisingly, they’re known as team (or constructor) bets. The latest F1 odds at BetUK are:

Fastest lap odds

Drivers who set the fastest lap often have a shot at winning a race. That’s why the odds for these bets usually follow the outright markets. However, the winner of a race doesn’t always set the fastest lap. So, if you want to mix things up during the 2023 British GP, here are the drivers most likely to set the fastest lap time, according to Sky Bet:

Head-to-head match-ups

Rivalries make the racing world go round. Winning the Drivers Championship is the ultimate goal, but within this competition are personal rivalries. The top UK sports betting operators know this, which is why they offer head-to-head odds. The premise is simple: you pick one driver to finish ahead of another. Some head-to-head match-ups worth considering for the 2023 British Grand Prix are:

• Verstappen vs. Leclerc
• Perez vs. Hamilton
• Sainz vs. Alonso

Which bonuses are best for F1 betting?

You can claim deposit bonuses, odds boosts, cashback deals and more when you bet on the British Grand Prix. In fact, it’s not a case of being able to claim bonuses, you should claim them. Our F1 betting tips give you things to think about in terms of who to pick and why, but nothing is guaranteed. 

That’s why bonus offers should be part of your overall betting strategy. The right bonuses can give you a positive return on your investment, even if you don’t win any bets. So, with this in mind, here are some of the top offers at our recommended UK betting sites:

How to place a bet on the British Grand Prix

You can bet on the 2023 British Grand Prix at Silverstone by following these simple steps:

1. Read our UK online sportsbook reviews.
2. Choose a betting site/s that appeal to your preferences. 
3. Use the secure sign-up link to create an account and activate the welcome bonus. 
4. Complete the registration process, log into your account, and make a deposit. 
5. Claim your welcome bonus and use the menu to find the latest F1 betting odds. 
6. Use the “British Grand Prix” option to reveal the available markets. 
7. Tap the odds next to your pick.
8. Go to the bet slip, enter your stake and confirm the bet. 

What’s the F1 race schedule for 2023?

The 2023 British Grand Prix takes place at Silverstone Circuit between July 7 and 9. Practice laps and qualification take place on July 7 and 8, before the big race gets underway on July 9. Once the best drivers in the world have raced their way around Silverstone, it’s off to Hungary and many more stops around the world. For those interesting in betting on more races, here’s the Formula 1 schedule for 2023:

• July 21-23 - Hungarian Grand Prix
• July 28-30 - Belgian Grand Prix
• August 25-27 - Dutch Grand Prix
• September 1-3 - Italian Grand Prix
• September 15-17 - Singaporean Grand Prix
• September 22-24 - Japanese Grand Prix
• October 6-8 - Qatari Grand Prix
• October 20-22 - American Grand Prix Texas
• October 27-29 - Mexican Grand Prix
• November 3-5 - Brazilian Grand Prix
• November 16-18 - American Grand Prix Las Vegas
• November 24-26 - Abu Dhabi Grand Prix

Which F1 races are the most popular?

The 2023 Formula 1 schedule is packed with great races, but some stand out more than others. Those races are:

Monaco Grand Prix

• Track name: Circuit de Monaco
• First held: 1929
• Circuit length: 3.337km
• Number of laps: 78

Monaco is the ultimate street circuit. What it lacks in speed, it makes up for in cornering and difficulty. Add to this the fact it takes place in one of the world’s most upmarket settings and it’s hardly surprising the Monaco Grand Prix has been popular since 1929.

Italian Grand Prix

• Track name: Autodromo Nazionale di Monza
• First held: 1921
• Circuit length: 5.793km
• Number of laps: 53

The Italian Grand Prix is the fifth oldest and remains popular due to the constant evolution of the track. Engineers have upgraded and modified Monza many times over the last 80+ years. Today, it’s a tough test for all drivers while simultaneously being a spectacle for fans due to its woodland backdrop.

British Grand Prix

• Track name: Silverstone
• First held: 1926
• Circuit length: 5.891km
• Number of laps: 52

The British Formula 1 Grand Prix has been a staple event on the racing calendar since 1926. Initially held at Brooklands, the race was moved to Silverstone in 1948. Since then, it’s become one of the sport’s top events due, in part, to the uncertainty of the British weather.

Abu Dhabi Grand Prix

• Track name: Yas Marina Circuit
• First held: 2009
• Circuit length: 5.281km
• Number of laps: 58

Abu Dhabi is a relative newbie on the Formula 1 circuit but, since 2009, it’s become a popular stop for drivers and fans. The searing heat, even in November, means races in Abu Dhabi typically start in the late afternoon and run into the night, making this a unique Grand Prix.

Las Vegas Grand Prix

• Track name: Las Vegas Street Circuit
• First held: 2023
• Circuit length: 6.120km
• Number of laps: 50

Las Vegas, aka Sin City, is the latest addition to the Formula 1 calendar. The first Grand Prix in the world’s gambling capital will take place in November 2023 and see drivers race down the famous Las Vegas strip. Like Monaco, the Vegas Grand Prix will be a street race taking place over 50 laps.

Can you bet live on the British Grand Prix?

Yes, you can make live Formula 1 bets on the British Grand Prix. Our recommended online sportsbooks offer in-play odds for a variety of outcomes, including fastest lap, slowest lap and X driver to be leading by the end of a lap.

Do UK bookies offer F1 live streaming?

No, but you can watch the British Grand Prix for free if you live in the UK thanks to Channel 4. Alternatively, you can watch the British GP and all other F1 races in 2023 on Sky Sports.

Which UK bookie has the best British Grand Prix odds?

Based on our experience and insights, these sportsbooks have the best British Grand Prix odds and offers:

Winner: BetUK

Top of our F1 betting podium is BetUK. The fact this sportsbook is specifically targeted at British bettors certainly helps, but it’s not the only reason it revved our engine. BetUK offers practice, qualification and race odds for every Formula 1 race, including the Silverstone showdown. We also like its selection of specials, such as the number of pit stops a driver will make and what a driver’s winning margin (in seconds) will be. 

Podium finisher: Spreadex

We’ve put Spreadex on our podium because it offers something other bookmakers don’t. That something is spread bets. For those not in the know, spread bets are markets where a team/individual starts with an advantage or disadvantage. Your job is to say whether they’ll win despite their advantage/disadvantage. Spreadex offers these bets for a variety of sports, which is why it’s worth a look ahead of the British GP. 

Honourable mention: Sky Bet

Sky Bet has come up on the outside to sneak a third-place finish in our F1 betting stakes thanks to its bonus offers. Sky Bet Club is a great way to get extra credits, odds boosts and cash back on losing wagers. When you combine these offers with dozens of British Grand Prix bets, including head-to-head match-ups, Sky Bet is right up there with the leading F1 sportsbooks. 

Where can I watch the British Grand Prix 2023?

• Location: Silverstone Circuit, England
• Date and time: Sunday, July 9 at 15:00
• TV/live streaming: Sky Sports and Channel 4

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• Establishes time and monetary limits before playing
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• Never chase their losses
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