Your Complete Guide to F1 Odds

11/22/24

Formula One is the pinnacle of racing, and as a result, it attracts millions of viewers each race. Like in other sports, it’s common to place a flutter and add some excitement to the event. However, even if you already have background knowledge of F1, betting is more difficult than you might think. It’s not just about choosing the right result; you also need to know how to read the odds.

Because of this, doing your research in advance is absolutely vital. You’ve come to the right place because that’s precisely what we will discuss today. Keep reading to learn about the different types of F1 odds and how to read championship odds in general. You’ll also learn how to increase your chances of winning when you bet, and where you can place wagers.

How Do I Read Formula One Drivers’ Championship Odds?

Before we look at the different ways you can wager on Formula One, it’s worth first understanding how you read F1 Drivers’ Championship odds. You can normally choose from UK, European, and American betting odds.

There is no difference in the value of the odds, but they do vary significantly in terms of how they’re displayed. For this reason, you need to choose whichever one makes the most sense to you.

UK betting odds, also known as fractional odds, are used in the UK (but also in Ireland). These display odds in fractions based on their probability. Odds-on (e.g. 5/6) means that an event is more likely to happen. On the other hand, odds-against (e.g. 23/10) signals that the bookmaker thinks a result is less likely to occur. 1/1 is known as evens, sometimes typed as EVS.

European betting odds, meanwhile, showcase probabilities in decimal form. For this reason, they’re also sometimes referred to as decimal betting odds. 2.00 is the threshold for even money; if a number is higher (e.g. 6.50), the odds are longer and the outcome is less likely. On the other hand, smaller numbers (e.g. 1.45) suggest that something is more likely to occur.

American betting odds are displayed with a + or – sign. Even money is represented as +100, with a minus number suggesting that a result is more likely to happen. A plus number, on the other hand, gives you better odds but isn’t as likely to occur. American bets are also sometimes known as moneyline betting.

F1 Grand Prix Odds

The Grand Prix refers to each event that takes part as part of the annual Formula One Championship. Drivers will race in multiple parts of the world, including Singapore, Brazil, and Italy. When you bet on the Grand Prix, you only predict a specific outcome within one race.

Compared to the F1 championship, you’ll find out whether you’ve won or not much quicker. You just have to wait for the race to conclude. Even if the racer who finishes first doesn’t come out on top at the end of the season, it doesn’t matter.

Because you find out the result quicker, betting on different Grand Prix events is popular with many bettors. Another advantage is that you can often bet in play, though this will depend on the rules within your jurisdiction. Doing so may give you better odds than would otherwise be the case.

In addition to betting on the winner of each race, you can also wager on who you think will finish on the podium.

F1 Championship Odds

Compared to the Grand Prix, the F1 Championship – also known as Formula One or the Formula One Drivers’ Championship – predicts the outcome for the entire season. If you bet on a driver to finish first, you’ll have to wait until the end of the campaign before you receive a payout.

Odds will normally fluctuate as the season progresses. This can be useful for getting better odds, as sometimes, the favorite will not start the campaign very well. In other instances, you may want to bet on the underdog while their price is still good.

You can often cash out during the season, but to be honest, it usually isn’t a good idea unless you’re absolutely certain about your decision.

F1 Title Odds

F1 title odds can cover the driver you think will get the most points, but they also sometimes cover the team that you believe will win. Betting on either of these is possible on the majority of betting websites, so you should have no problems whatsoever finding the type of wager that you’re looking for.

In some instances, you can also bet on the number of points that you think a racer will get. Doing so is often better value for money if a driver is expected to have a strong season and you don’t think that the odds are worth considering.

F1 Vegas Odds

If you’re looking at F1 Vegas odds, these will specifically relate to the Las Vegas Grand Prix. In these instances, you can follow the same principles as you would for other Grand Prix races. Pretty much all of the same markets will be available.

You can wager on qualifying winning teams, along with which driver you think will be the fastest qualifier. On top of this, it’s also possible to bet on which people you think will finish in the top six. Away from the favorites, this can represent good value for money if you think that an underdog has a good chance of causing an upset.

F1 Race Odds

F1 race odds refer to what you think will happen in any individual event. As a result, many of its markets are identical to what you’ll find for the Vegas Grand Prix and other events. Like most Grand Prix races, it’s possible to cash out in play. However, this isn’t always guaranteed and it’s also not an absolute that you will make a profit.

Where to Find F1 Drivers’ Championship Odds

You’ll find betting odds for F1 races when looking at almost every popular online sportsbook. If digital sports betting is legal in your jurisdiction, you’ve got a very good chance of finding all the major races – in addition to the Championship each season.

It’s also possible to find F1 betting opportunities offline. Many sportsbooks in brick-and-mortar casinos will offer F1 Championship odds, and you can often watch events on TV in the sports bar.

How to Win at F1 Betting

Betting on F1 is incredibly difficult, even if you’ve watched the sport for years. So, to help you increase your chances of winning, let’s now look at some methods to consider implementing.

Look for Better Value

Yes, you’re more likely to win if you choose the favorite for each race. However, you also need to ask yourself if the juice is worth the squeeze. If the favorite has smaller odds, it might be something worth considering – but if you only make a $5 profit when you bet $100, the risk is simply not worth it.

Instead, look for hidden gems. You’ll find several betting markets that are worth thinking about, such as points totals and who you think will have the fastest lap. Assess these odds and pick something that fits your knowledge.

Research in Advance

Besides choosing the right bet, it’s also vital that you research each event in advance. Even if you have watched Formula One for years, this point still applies. Without having sufficient knowledge of an event, it’s very difficult for you to make the most educated decision.

Look at the form of each racer, and think about whether one of the favorites has been unconvincing in their performances recently. Besides researching, it’s also a good idea to listen to your gut; doing so will give you a better understanding of what you should and should not wager on.

Focus on Fun First

Some people get into F1 betting because they think it’ll make them rich, and that is by far the worst approach you can make. Yes, you might occasionally make a big amount of money when wagering on Formula One races and the Championship. However, you will probably lose more often than you win.

Trying to focus specifically on making money will ultimately lead you down a frustrating path. Instead of focusing on the potential of winning, you should go into your wager with the primary goal of having fun. View any money you make as a nice bonus, but not the absolute must.

For this reason, you should also only wager if you have the disposable income to do so. It’s also important that you don’t try and chase losses; doing so will make things worse more often than not. Set a clear budget and stick to it; you should also strongly consider placing timers on how long you can wager.

Everything You Need to Know About Formula 1 Championship Odds in One Place

Formula One is one of the most exciting sports, and if you’re already a big fan, you’ll probably want to know how to bet on it effectively. Doing so can be very hard for multiple reasons, such as not understanding where the value lies and being unable to read the odds. Even if you’ve been watching F1 for ages, it’s still important that you do your research beforehand.

First and foremost, it’s a good idea to pick the betting odds that you feel comfortable reading. They all have the same value, so switching between them doesn’t matter too much. Moreover, each of them is available almost everywhere.

It’s also a good idea to determine what type of F1 betting will work best for you. Moreover, you should decide if you would prefer to wager online or offline.