Even if you’ve been following racing sports your whole life, you might have only now thought about actually betting on a race.
You might have already tried betting on different sports like football, baseball, or basketball, but it’s essential that you understand that betting on racing sports is something completely different. Here is what you need to know if you decide to try your hand at these types of bets.
Familiarizing yourself with popular sports
For starters, it’s important that you know what your options are. You might be a huge Formula One fan, but that is not the only sport you can bet on. In addition to the highest class of motorsports, you also have the Formula 2 and Formula 3 championships, as well as Formula E.
Then, the FIA is also in charge of the World Endurance Championship, the World Rally Championship (and its companion series), the World Rallycross Championship, and the World Karting Championship. The association also governs several European championships.
Moreover, in the United States, there is the IndyCar Series as well as NASCAR. Furthermore, there is also MotoGP and other motorcycle championships.
With so many options, it can be a bit overwhelming. The best way to start is to pick a sport/championship you are most familiar with and then expand from there.
Knowing different types of bets
Then, you also want to understand what aspects of the sport you can bet on. For instance, in Formula One, you can bet on the race winner.
While there are currently some constructors that are a bit of a safe bet like Mercedes and Red Bull, a surprise happens every once in a while such as Ricciardo winning in Monza or Ocon in Hungary, which makes betting a bit more fun.
Then, you can also bet on who will be the fastest in qualifications, who will be on the podium, who’ll have the fastest lap, and who will be the drivers’ championship winner.
Many operators offer various alternative bets. With that in mind, you can find over/under bets. This means that you bet on whether the winning margin will be bigger or smaller than a number that the bookkeeper sets.
So, if you think the difference between Verstappen and Hamilton at the end will be under, let’s say, 2.5 seconds, you’ll win if that happens. Moreover, you can also find specific combo bets like Vettel winning, Alonso being on the podium, and Hamilton not finishing the race.
Understanding racing sports odds
When it comes to understanding racing odds, it’s mostly quite straightforward. Of course, while it will all depend on the race and specific circumstances, you need to be aware of the fact that the odds will be low if you bet on Hamilton or Verstappen to win during the 2021 season.
For the outcome of the entire season, the odds for these two are also quite low. Even though it’s impossible at this point, if you were to bet on Vettel winning the championship at the beginning of the season, you would have seen higher odds. The underdogs always come with high odds but, in the end, the odds always rest on the bookmaker’s decision.
Finding the right website
To make the most of the variety of bets, it’s vital to find the right website that you can join. All top-notch bookmakers offer coverage of major sports events and betting options, so you want to look through the offer the platform you’re playing on has. If you see a lack of options, it’s always recommended to search for a better alternative.
Then, looking into the safety of the operator is also crucial as you will be playing with money and you don’t want to get scammed. You can usually find some badges at the bottom of the page that verify that the website is secure and licensed.
Something else to keep in mind when deciding on a website is the payment options. You want to make sure you can easily deposit money into your account and withdraw your winnings in no time.
Adopting basic strategies for betting
Finally, to maximize your chances of winning, you also want to adopt some basic betting strategies. For starters, you want to familiarize yourself with the sport you plan to bet on. You can’t bet on F1 if you don’t know the difference between Ferrari and AlphaTauri. So, watch at least a few races before you put money on the line.
Plus, it’s also a good idea to follow racing news as you can learn more from experts, hear about some behind-the-scenes drama, and know what to expect. In addition, paying attention to the local weather is also a good move as rain can wreak havoc on a race and lead to an unexpected winner.
If you’re thinking about betting on motorsports, it’s vital that you know something about the sports in question. Then, you just need to find a trustworthy website and decide on the bet you want to make.