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LAS VEGAS, NEVADA - NOVEMBER 16: Sergio Perez of Mexico driving the (11) Oracle Red Bull Racing RB19 on track during practice ahead of the F1 Grand Prix of Las Vegas at Las Vegas Strip Circuit on November 16, 2023 in Las Vegas, Nevada. (Photo by Mark Thompson/Getty Images)

The Absolute Beginner’s Guide to F1 Betting

LAS VEGAS, NEVADA - NOVEMBER 16: Sergio Perez of Mexico driving the (11) Oracle Red Bull Racing RB19 on track during practice ahead of the F1 Grand Prix of Las Vegas at Las Vegas Strip Circuit on November 16, 2023 in Las Vegas, Nevada. (Photo by Mark Thompson/Getty Images)

In the world of motorsports, nothing beats Formula 1 in terms of popularity. It’s a combination of driving talent and engineering excellence that keeps fans at the edge of their seats.

Like all other popular sports, F1 is covered by betting sites extensively. You’ll see the betting markets at Betway fire up as soon as the racing calendar starts.

For those new to the F1 betting scene, here’s a short guide that will navigate you through its essentials.

F1 is More Complex than Other Sports

Compared to other sports, F1 has a more complex structure, with constructors and drivers competing for the title each season. The action unfolds across several Grand Prix races held around the globe, over several days. Each Grand Prix comes with its individual challenges for the engineers and drivers to overcome. This makes betting on F1 especially challenging.

No two tracks are the same. Team engineers have to adjust the racecars to be a good fit for the elevation of Mexico City, then for the scorching heat of Abu Dhabi or the humid conditions of Silverstone. The drivers, too, have to adjust to the changing conditions. This makes predicting the results of any individual GP a challenge.

How to Start Betting on F1

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First and foremost, it’s vital that you understand F1 well before diving into betting. This will allow you to actually predict outcomes instead of just guessing.

Choosing a reputable betting outlet is the next step. Look for platforms with a good reputation and track record and a good coverage of F1 bets.

Make sure you set your budget for betting and practice good bankroll management. This is important for any form of gambling, by the way. Betting should be fun and affordable, so never wager more than you can afford to lose.

What Types of F1 Bets Are There?

There are several types of F1 bets you can place, each of them with their own set of strategies:

  • Winner bets are among the most straightforward: you bet on which driver will win the race.
  • Podium finish bets are similar, trying to predict which drivers will finish in the top 3
  • Pole position bets are self-explanatory, trying to predict which driver will win the pole position
  • Fastest-lap bets are also pretty straightforward
  • Head-to-head bets allow you to bet on which of two drivers will perform better in a race, regardless of their overall race position.

These are just a few of the most-used F1 betting markets. There are many more that you can explore on the betting site of your choice.

Tips for Successful F1 Betting

Aston Martin Red Bull Racing car checks into valet parking on the Las Vegas Strip in Las Vegas, Nevada, USA. // Garth Milan / Red Bull Content Pool // SI201807310386 // Usage for editorial use only //

To be a successful bettor, make sure to mix passion with pragmatism. Never bet with your heart –  always use your head to evaluate the likelihood of an outcome before putting your money on it.

  • Do your research: Stay up to date with the latest news about the team, the driver, and the weather.
  • Look for value bets: Look for bets where the potential returns outweigh the risks.
  • Time your bets well: Placing a bet at the right time can significantly improve your odds. Consider placing your bets after the practice and qualifying sessions so that they will reflect the most current conditions.
  • Do not overvalue the favourites! While betting on them might seem a safe choice, F1 is highly unpredictable.
  • Manage your bankroll wisely! Set a budget and stick to it. Never chase your losses. And most importantly: never bet money you can’t afford to lose!

Watching an F1 race is exciting on its own but a well-placed bet can make it even more thrilling. Betting on F1 is a unique way to enjoy the world’s top motorsport. But make sure you know what you’re doing before you dive in.

Remember, the goal is to have fun.