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How To Bet On Formula One – Grand Prix Winner, Constructors & Drivers’ Championship Outrights

13 Mar 2024
Nikhil Kalro 13 Mar 2024
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  • Max Verstappen starts the new F1 season strong, marking himself as a favourite for the Drivers’ championship.
  • Red Bull's dominance, powered by a Honda engine, is expected to persist this season, making for an exciting betting scene.
  • Despite no major grid changes this season, bettors need to factor in form, car performance, and team strategies.
F1 Cars
Max Verstappen leads the pack during the 2024 Saudi Arabian GP. (Getty Images)
Defending Champion Max Verstappen has started the new F1 season with a bang and has already instated himself as the favourite to win the Drivers’ Championship again.
  • Grid Analysis
  • Factors To Consider Before Betting
  • Popular F1 Bets
  • F1 Futures
  • F1 Props
  • F1 Driver Matchups
  • F1 Parlays
  • Legal & Responsible Betting

The 75th edition of the Formula One (F1) World Championship commenced in Bahrain on March 2, and there were a couple of familiar faces on the podium at the end of the race. The 2022 and 2023 Champion, Max Verstappen, started the new F1 campaign exactly how he ended the last – with a commanding win.

Verstappen finished the 2023 F1 season with a record 19 wins in 22 Grands Prix. The Dutch driver was on the podium at the end of 21 races. This helped the fiery Red Bull driver accumulate 575 points and saw him his third Championship in a row by a massive margin of 290 points. His teammate, Sergio Perez, finished second in the Championship with 285 points.

The sheer dominance of the Honda-powered Red Bulls helped them clinch their sixth Constructors’ Championship with a points tally of 860. They finished a staggering 451 points clear of second-placed Mercedes. Ferrari endured another disappointing season and finished third, just three points behind Mercedes.

Verstappen set another new record after finishing the season with a win rate of 86.36%. It was a record that Alberto Ascari held since 1952. This season, the Dutch driver will aim to beat his own record, and Red Bull has provided him with the perfect car again. The domination of the Red Bulls is expected to continue this season after they won the first two races of the year.

The almost-certain outcome of every Grand Prix will attract the attention of many bettors. Picking Verstappen as the race winner could increase your chances of winning. Additionally, sportsbooks allow bettors to construct parleys, and if you pick the perfect combination, the outcome could be exceptional.

Grid Analysis

There are no major changes on the grid this season, but many are expected from 2025. The biggest news that broke the internet before the start of the current season was the confirmation that seven-time World Champion Lewis Hamilton would join the 16-time Champions, Ferrari, next year. The Brit will take Carlos Sainz’s seat in 2025.

This move will cause a chain reaction, as Mercedes will have to look for Hamilton’s replacement. They could try and lure McLaren driver Lando Norris to their team with a promising car. If that happens, McLaren will start hunting for Norris’ replacement. There were also rumours circulating that Fernando Alonso might take Hamilton’s seat at Mercedes.

If Red Bull's domination continues, Mercedes, Ferrari, Aston Martin, and McLaren will battle for the second spot in the championship table. In this four-way scrap, Aston Martin will be the first to bow out, as Alonso is their primary points-winner, while Lance Stroll has been subpar for quite some time now.

Ferrari is off to a strong start, but it will be interesting to see how Sainz races this year, considering that he has no guarantee of an F1 seat next season. This could make the battles between him and Leclerc feisty, and he may not respect team orders as well. Mercedes and McLaren will wait to capitalise on this.

Factors To Consider Before Betting

In a season with multiple title contenders, numerous factors must be considered before wagering, such as current form, history on track, weather conditions, car performance, race strategies, and more. However, after the first two Grands Prix in 2024, it looks like a one-horse race for the Championship again.

Regardless of track history and weather conditions, Red Bull and Verstappen will be the favourites before every race this season. The team has the best car on the grid and the best driver in the cockpit. Their race strategies always click and that is why the current form is always in the green.

There is a little commotion going on behind closed doors after the Team Principle, Christian Horner, was accused of inappropriate and controlling behaviour by one of the team members. Since then, uncertainty has loomed over his future at the Red Bull garage. These background scraps are the only factor that could hinder the team’s success this season.

Popular F1 Bets

The first thing to know is the variations of F1 betting available on multiple sportsbooks. Let’s cruise through the types of the most typical bets.

F1 Futures

When it comes to F1 wagers, betting futures could be the easiest odds to comprehend. The most simple futures bet is deciding which driver will emerge victorious at the end of a Grand Prix. Apart from that, you can also bet on the positions that a driver will finish in – Top 5 or Top 10. Outrights for both the Drivers’ and Constructors' Championships remain a good option since Red Bull and Verstappen are set to dominate another season.

F1 Props

Props in F1 can be tricky because of the fine margins involved in the motorsport. Under props, you can bet on the gap in seconds between two drivers. This type of bet also enables you to pick the driver you think will set the fastest lap of the race. Sportsbooks also offer bets revolving around the Safety Car. Bettors can study the history books to see which track has seen the most Safety Car appearances and then take that prop bet.

F1 Driver Matchups

Each F1 team has two drivers in two cars on the grid. While both drivers represent the same team, they are always competing amongst themselves to outscore their teammates. Sportsbook capitalized on this competition and enabled bettors to pick the head-to-head winner of any team that is on the racing grid. Last season, the margins were tight between the two Ferrari drivers - Leclerc and Sainz. However, Alonso was miles clear of his Aston Martin teammate Stroll. Placing a Driver Matchup bet on Alonso would have been beneficial for the bettors last season.

F1 Parlays

Like other sports, sportsbooks offering F1 betting will allow you to create parlays. These bets are nothing more than a combination of different types of wagers that can result in a better payout only if you win all bets under the parlay. For example, you can combine a futures bet with a prop bet by saying that Lewis Hamilton will win the Grand Prix and Max Verstappen will get the fastest lap of the race.

Legal & Responsible Betting

The Championship race might be one-sided this season, but motorsports like F1 can be unpredictable. Even the best drivers are helpless when the machine underneath them stops running because of damage or any other factor. Keeping this in mind, it is important to gamble responsibly, not get rash with wagering activity and set proper limits.

Another important factor is to check the sportsbook operator you are using to bet on F1 is licensed in your jurisdiction. Gambling on unlicensed platforms bears innumerable risks, so always ensure the platform you use for any wagering activity is credible and licensed.

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