Formula 1 betting to suit your style
While Formula 1 booms in popularity in the Americas adding big numbers to the already significant following throughout the rest of the world, the same applies to a surge in interest in fans and sports betting.
One of the best ways to increase interest in Formula 1 Racing is to offer up a detailed explanation related to how to bet on said races. In fact, there are six (6) betting options that are usually made available for each Formula 1 race. Let’s take a look at these options and later discuss the option or options that might best suit your betting style.
top three drivers in 2023 are Max Verstappen (The Netherlands), Sergio Perez (Mexico), and Fernando Alonso (Spain). Any of these three could be used in wagering examples.]
1. Formula 1 Win Bets
Win bets would be bets placed on a particular driver to win a particular race. The betting odds would be stated as a money line with the race favorite having the lowest odds and the less significant drivers offering the highest odds. For instance, the odds on Verstappen would likely be lower than the odds listed for Perez and the rest of the field. Only wagers on the winning driver would be paid.
2. Podium Finish Bets
In each race, three (3) drivers make it to the podium. To do that, they have to finish 1st, 2nd, or 3rd. Podium finish bets would be bets on a particular driver to simply make it onto the podium (finish in the top three (3)). The odds would be much lower than win bet odds because each driver is given more latitude in their finishing position. Only wagers on the top three (3) finishers in each race would be paid.
3. Head-to-Head Driver Matchup Bets
Head-to-Head Driver Matchup Bets would be wagers on a particular driver to have a better finishing position than another particular driver. The odds would likely be lower on the higher-ranked driver or the driver with the best qualifying time. Only wagers on the winning driver would be paid unless they finished in a “dead heat.”
4. Proposition Bets
Proposition bets would include wagering opportunities on certain things that might happen in a given race. A few examples would include:
- The number of caution flags that are waved during the race
- The final race time
- The driver with the fastest single lap
- The number of drivers to finish the race
The odds on some prop bets can offer lucrative payouts even with a small wager. Only correct prop bets would be paid.
5. Driver to start from Pole Position Bets
Pole position bets are actually pre-race bets on which driver will record the fastest lap during the time trials. The fastest driver gets the pole position. Only bets on the pole sitter would be paid.
6. Futures Odds Bets
Each year, Formula 1 crowns a champion driver and team. A futures odds bet would be a bet on a particular driver or team to win the annual overall championship based on point totals. Only bets on the winning driver and team would be paid.
Which Formula 1 Betting Option is Best for You?
At this point, you might be wondering which of these betting types might best suit your betting style. In an effort to guide you, there are several criteria you might want to consider, including
- Your Formula 1 betting experience level
- The size of your bankroll
- Your level of risk tolerance to capture certain rewards
- Your access to handicapping information
Based on these criteria, you should be able to find a Formula 1 wagering option or two that would suit your betting style and be within your means. Remember, betting on any sports event will be different than playing other games of chance. This includes online slots which do feature racing games and bonuses like free spins at Casino Extreme.
As a rule of thumb, experienced bettors with significant bankrolls tend to favor straight bets such as Win Bets and Head-to-Head Bets. Conversely, novice or recreational bettors tend to favor prop bets and pole position bets because such bets generally offer higher potential returns. With higher odds, recreational bettors with limited bankrolls can place smaller bets for larger returns.
It’s on you to decide what your objective or objectives might be if you are betting on a Formula 1 race. If you were to be simply creating a reason to be interested in a race, you should stick to small bets on high-odds options. If you have the means and want to make some real money, it might be preferable to roll your available bankroll into one bet and hope for the right outcome.
As you contemplate wagering on a Formula 1 race, you should recognize how much you’re willing to bet and can afford lose. Your advantage is the ability to use the handicapping process as opposed to blindly risking a portion of your bankroll.
