Formula One (also known as Formula 1 or F1) is the highest class of international motor sport, the word "formula" refers to the set of rules to which all cars must conform, as decided by the organisers the Fédération Internationale de l'Automobile (FIA). It has been around since its first season in 1950 and F1 championship betting is now a huge multi million pound industry.
How to choose the best F1 betting site?
When choosing a Formula 1 betting site it is important to consider several factors. At the end of the day you can only make a profit from gambling if the odds are good, so having good F1 betting odds is an important thing to look for in a bookie. A large choice of betting lines (things to bet on) is also highly advantageous, just who will win the race is not enough, really you want to have fastest lap, fastest qualifying, head to head, as well as proposition bets and tournament winner odds. The cherry on the cake when looking for formula 1 bets is what promotional offers and bonuses they provide, this will vary from race to race but it is always worth keeping an eye open for. To find F1 bookmakers you can check our reviews which go into details of the company you are dealing with, what payment methods they accept and the timeframes they work to, and display the comments and opinions of other users of this site.
What are the Types of F1 bets:
When looking at bets online the most common type of F1 bet is who will win the race, known as a Grand Prix. There is other bets available though such as who will have the fastest lap of the race, who will finish in to top three (known as a podium finish), you can bet on what make of car will win the race, who will be the fastest qualifier, who will be the first driver to retire, will there be a safety car during the race, the list goes on and on.
F1 betting Strategy
Not a strategy as such but an essential part of Formula One betting is to research and know inside out all the drivers. It is not like other sports which may have hundreds of players competing in a Season, there is only 21 in the 2020 Season so this is achievable. Whilst you can tell at a glance who the best drivers are by looking at their given odds in the days before the next Grand Prix this in itself wont give you an edge. Instead by fully immersing yourself in the sport, following them on Twitter, knowing if they have reason to be angry this week, or are they feeling under the weather, this will give you clues as to who to keep an eye on, and who to avoid.
Formula 1 betting odds, more so than other sports, are highly statistical and results are highly correlated to the data. Since the margins of victory are so thin, everyone involved from the Driver to the Team Boss all analyse tiny details as if they were major issues. If you want to compete and ultimately succeed at F1 betting you also need to analyse as much relevant data as you can
On the weekend of the race the last things to think about, which you wont know in advance and that you have to wait for. The Qualifying sessions can be a great way to gauge how a driver or team could perform, it is basically a race before the race, and IF all factors remain the same then the winner of qualifying should also win the race. The other elephant in the room is the weather, and sometimes weather can change several times over the course of a race. Some teams and drivers are better in the wet than others, also the number and order of pit stops can be influenced and teams must change strategies if rain comes mid race. Variable weather adds confusion and sometimes chaos to what can otherwise be a procession, and in these scenarios it is the outsiders who may be able to capitalise and the fancy odds available makes the value to win or even just finish on the podium.
Formula One betting has a reputation for excitement and drama but this plays out over a number of days, and the race itself over more than an hour. Therefore it is great for betting beginners to get a feel of how the odds move, and identifying value, learning to place the right bets at the right time without being rushed like in some other sports. At the same time it still has the adrenaline, thrills and spills which can be lacking from, say, cricket.
A betting strategy is something everyone must make for themselves and it will evolve over time. Keeping up to date on the news and knowing behind the scenes what is happening with the drivers and constructors will also help you keep one step ahead of the bookies. Being able to recognize how small details can actually affect a driver’s overall chances of winning a race is what you will need, as always, along with some luck!
The top betting sites are…
Here at Legalbet we have also categorised the top betting sites and their features to make them easier for you to find. They are:
Frequently Asked Questions
The simple answer to this is yes, yes it is. It is perfectly legal for any UK citizen to bet on Formula 1 racing with any bookmaker licenced with the UKGC (which every bookmaker reviewed on this site is)
Many bookmakers will have bonuses and promotions for specific races but these would be on a case by case basis. As a general rule there is no reason to suppose a F1 bet would not count towards a new user introductory offer, but check the T&Cs just in case.