Formula 1 is one of the world’s most followed sports, and is a favourite among fans of sports betting, both locally and online. It’s a great sport to watch, with incredibly fast cars, skilled drivers, and offers heart-stopping events that take place from Australia to Italy.

F1 betting is extremely easy to get in to, and even more-so for those that have previous experiencing in other types of sports betting. Here we will look at some of the highlights of Formula 1, as well as some of the bets that tend to be the most common.

Simple F1 Betting Strategy

Much like any other kind of sports betting, wagering on F1 events is done primarily through bookmakers, and there are many to choose from online. Prior to an event starting, the bookmakers will provide a list of bets available for bettors to have a look at, which will include the buy-in price, the odds, and the payout if the bet is successful. It can help to have proper bankroll management up and running, as well as a decent sportsbook that can offer some insight into how the teams and drivers performed in the past.

The Most Common F1 Bets

The To-Win Bet

By far the most popular type of bet when it comes to F1 racing, this is the equivalent of a moneyline wager, in that it’s straightforward, easy to understand, and is offered by most bookmakers. Here, the bettor places money down on the driver that they think will come first in an event. This can be a winner for the bettor that’s willing to dedicate some serious time to keeping track of the drivers before the start of an event, especially by following them through their qualifying rounds. It can also be a fairly high-paying bet if wagering on an underdog, although this also comes with relatively increased risk.

Driver Matchup Wagers

A very flexible and exciting bet to make, but not quite as common as they used to be when it comes to land-based bookies, meaning that it’s a better idea to turn to the online world for this one. Here, the wager is focused on choosing which of two drivers will finish higher at an upcoming event. As long as the chosen driver is able to finish before the other one, then the bet is a success. There is not much else to this bet, making it a fantastic choice for beginners wanting to test the water.

Podium Finish

As the name suggests, these are wagers that centre around a player finishing somewhere on the podium. These tend to be a bit less risky when the average moneyline bet, but it also means that the payout will be lower. There tends to be no difference in regard to how much is paid out to the bettor based on which position a selected driver finishes, as long as they are on the podium by the time the event comes to an end.