There are few sporting competitions that can compare with the thrills and spills of betting on Formula 1, while it originated in the UK, F1 has become a truly worldwide event that serves as the heart and soul of motor racing.
With past and present superstar drivers including Michael Schumacher and Lewis Hamilton, F1 is motor racing at its very best.
Revving Up for the 2021 Season
While 2020 was as unusual for 2020 as it was for many other sports, the pandemic hasn’t so far deterred the 2021 season from going ahead as planned, with the competition set to commence in Australia on the 21st of March.
A total of 23 venues will play host, with the final to be held on the 5th of December in Abu Dhabi. While these venues may seem so far away for most betting fans, as usual, you can bet online, no matter where you are in the world. So yes, we can look forward to another season of twists and turns while predicting who comes out on top.
Betting on F1 can seem overwhelming to passive sports bettors who have never before bet on the event. The same can even be said of die-hard racing fans. Even those with an in-depth understanding of the competition don’t necessarily translate that knowledge to betting success.
The fact is that there’s a significant difference between having knowledge of a sport and a knowledge of betting on it. Let’s take a look at the latter.
Knowing the Odds and Markets
The first things to have in your arsenal is knowing the odds available and which markets you can be on. You’ll find that the major bookmakers offer various markets and odds, so invest some time in exploring them. This can help you in making smarter betting choices. Now let’s look at some of the more common markets.
Championship Odds
You can bet on this market at any point during the season. It’s a nice market for value, especially if you keep your eye on the current rankings. Let’s look at an example where Fernando Alonso is the favourite to win the championship. After six races, Alonso is no. 1 in the F1 standings.
But you’ve also observed that his teammate has been making improvements recently. While this teammate won’t have the same odds as Alonso, you might wish to consider him. You could even place an each-way bet. Here’s where research can really pay off.
Driver vs Driver
This market has seen a huge spike in popularity over the past few years. It enables you to choose from one of two specific racers to finish highest in the rankings. You can bet on this market outright, which is where the driver achieves a higher ranking at season end.
F1 Race Winner Odds
This just might be the easiest way to bet on an individual race. You’re basically predicting that a certain driver will win a particular race. Another option could be in-play race winner odds. For example, a driver might be struggling with a certain pit stop and wind up in 10th place once he’s rejoined the track.
You might have found out through research, however, that he’s fared well in terms of podium finishes, even when trailing way behind. You’ll find that his in-play odds will be longer than they were just prior to the race starting, so these odds could certainly be worth considering.
Wrap Up
F1 may be an exciting sport, but it can also be a profitable one if approached responsibly. Of course, no-one can be guaranteed profit for every bet they place. If you manage to consistently identify value bets, however, you’ll put yourself in a position where you can win more than you lose. And that’s where the fun really begins.