When it comes to popular sports to bet on, F1 is close to the top of the list as thousands and thousands of F1 fan enjoy betting on their favourite drivers and teams whenever there is a Grand Prix on.
Sportsbooks know how popular F1 is with sports betting fans, which is why all the best bookies make sure that they have many F1 betting markets. Below I am going to provide you with some valuable information about betting on this sport.
A Closer Look at F1
F1 is the most popular motorsport in the world. It is where the best drivers and technology in the world come together to put on a performance at speeds of more than 200mph. There are ten F1 teams, with each team having two cars, meaning that 20 cars participate in a race.
There are usually 21 races in a season, but this can vary, and they take place from March until November all over the globe. Drivers receive points based on where they finish in each race and come the end of the season the driver who has earned the most points will win the championship.
Each F1 race is different because the tracks are not all built the same. For example, the Monaco Grand Prix and Shanghai Grand Prix place a lot of stress on the gears as drivers need to change gears a lot of times due to the bendy and twisty nature of the track.
On the other hand, the tracks that you will find in Monza or Bahrain have been built with speed and power in mind.
F1 Betting
When it comes to F1 betting, there are three types of bets that are extremely popular, and these are outright, long-term, and live betting. We are now going to have a look at what these bet types entail.
Outright Betting
When you are placing an outright bet, you are betting on which driver you believe will go on to win the race. This is one of the simplest bets to place and is an awesome bet for those who are new to bettong on F1.
To make an outright bet, all you have to do is select the odds that are being offered, enter the stake that you would like to wager, and submit. If that driver wins the race, you win your bet and will be paid accordingly.
This is my favourite type of bet to make as it was the first ever F1 bet that I won. I went to Silverstone with a friend of mine in 2018, which was my first ever F1 race. Sebastian Vettel won it and my friend was really happy because he had put £50 on Vettel to win.
His excitement got me interested in betting and I asked him what site he used to find the best place for betting on F1, and he pointed me in the direction of MyBettingSite. I checked it out when I got home, and it has been my go-to betting comparisons site ever since. Whenever I want the best odds for F1 or any other sport, I head straight here.
Another kind of outright bet is the position that the drivers will finish in, usually limited to a top 3 finish – known in the F1 world as a podium finish. When you are placing a finishing bet, you just need to try and predict a driver that you feel will end up on the podium at the end of the race.
Long-term Betting
As well as trying to predict the driver that will win a certain race, you can also place your money on the driver that you feel will be crowned the Champions at the end of November.
You can also put your money on the team that you think will pick up the most points and win the Constructors’ Championship. These bets are known as long-term bets as they last for the whole season.
However, you can place these bets at any stage in the season – you should try to time your bet perfectly so that you get to take advantage of the best odds.
In-Play Betting
Do you love live betting? If so, you will be glad to hear that most bookies will offer live F1 betting. When you are betting on live F1, quick decision making and determination will often be rewarded. With live F1 betting, you always have to try and be one step ahead.
A very useful live betting tip is to try and work out when a driver will make a pit stop. Drivers must pit at least once to get a change of tires, and this is when tactical decisions and errors can be made. If you feel that a driver is pitting at the wrong time, then you will probably be wise to bet on someone else.
F1 Betting Strategies
If you have an account with a betting site, then there is nothing preventing you from diving right in and making a F1 bet. However, if you get into the habit of doing this then you will lose more money than you win. Below you can find some great F1 betting strategies that you should put to use when betting on this sport.
Not All Circuits Are Equal
The circuits that the drivers race on throughout the season are not all the same. They all have their own characteristics which helps to keep everything highly entertaining. Imagine how boring it would be if you got to watch 21 races all on the same type of track.
Therefore, you have to have a thorough idea as to how certain drivers have performed on particular circuits in the past when you are betting. For example, if a driver performs well on a circuit with a lot of hairpin turns, it does not mean they will drive just as well on a circuit with more high-speed straights.
What I am trying to tell you is that all circuits are different, and certain drivers will perform better depending on the track. If you can find a driver that always does well on a certain circuit, then you can give yourself a nice betting advantage. All the information that you require about previous races can easily be found on Google.
Do Not Get Hooked up on Qualifying Times
The fastest driver during a qualifying race will definitely win the actual race, right? Wrong, you cannot make this assumption due to the fact that conditions can change a lot in the time between the qualifying race and the actual race.
For instance, changes in humidity, precipitation, temperature, and cloud cover can have a big impact on the race. If a driver does not adjust to any changes quickly, then they will have a poor race even if they won the qualifying race by some distance.
Many beginner F1 bettors make the mistake of betting on the fastest driver in qualifying, but all this does is increase your chances of losing your money.
However, having said that, there are a couple of races where you can pay attention to where drivers finished in qualifying. For example, on circuits such as the Monaco Grand Prix it is a lot harder for drivers to get by each other to make their way to the front of the pack.