Popular Formula 1 Bet Types Explained
Not only is Formula 1 one of the most popular motor sports in the world, but it’s also one of the top choices of bettors at online sportsbooks. If you find that some of the terms used about Formula 1 betting in this article are unclear, refer to our guide to Formula 1 online betting. If you feel comfortable in the world of Formiula 1 motor sports, here are some of the Formula 1 online betting markets you should learn about.
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Driver Betting
Everyone knows about Niki Lauda, Michael Schumacher, Lewis Hamilton, and other top-class Formula 1 drivers. They’re the ones who always steal the show, even when betting is concerned. Here are some Formula 1 bet types with drivers in the spotlight.
Race Winner
The most popular of all the Formula 1 betting types is the race winner. The driver who passes the finish line before anyone else is the winner.
Podium Finish
The three fastest drivers will get to go on the podium after the race. There is a Formula 1 bet type that lets you wager your money on the driver whom you think will finish among the top 3.
Fastest Lap
Each Formula 1 Grand Prix race consists of a large number of laps, usually over 70. You have a chance to bet on which driver will achieve the fastest lap.
Pole Position
A day before the race, the drivers get to test the course, as well as compete for the qualifying title of the pole-sitter. If you’re not familiar with the term, the pole-sitter is the driver who starts the race in front of all the others.
Team Betting
Each Formula 1 driver is a member of a team. There are 10 teams competing in Formula 1 at the moment, namely:
- Alfa Romeo Racing
- Scuderia Ferrari
- Rich Energy Haas F1 Team
- McLaren F1 Team
- Mercedes AMG Petronas Motorsport
- SportPesa Racing Point F1 Team
- Aston Martin Red Bull Racing
- Renault F1 Team
- Red Bull Toro Rosso Honda
- ROKiT Williams Racing
In every Grand Prix, each team has to have two cars on the course in every race. Betting on a team practically means wagering money on two drivers at the same time. If one of them ends as the race winner, you get the money.
The results achieved by the two cars in every race are calculated toward the overall score of the team. That said, you can also bet on which team is going to get the most points in a race.
Matchups
The fact is that only a handful of drivers win races over the course of an F1 season. This is why the odds on favorites aren’t too attractive. For instance, you can’t expect to get much value from betting on Lewis Hamilton, who’s won about 10 races per season in the last couple of years. And the odds that he will finish on the podium are even shorter.
This is why many bettors opt for other kinds of Formula 1 betting types. The so-called matchups are the preferred choice of many. How these bets work is that you get to pick which of two drivers will finish the race faster.
Bookies generally decide to pit closely matched drivers one against the other, e.g. Lewis Hamilton vs Valtteri Bottas. Still, there are some sportsbooks will even allow you to pick your own matchup pairs.
Of course, you shouldn’t expect that the odds on Hamilton against Kubica or some other major underdog will be too rich. If you want better odds, it’s best to pitch Hamilton against some better-ranked driver.
Furthermore, some books will let you place the money on matchups with multiple drivers. For example, there are some matchup bets in which you get to pick who will finish the fastest out of three (or more) drivers.
Not only can you bet on head-to-head matchups of individual drivers, but you can also bet on teams. How it works is that the sportsbook comes up with team pairs, while your job is to pick which of the two will grab more points during the race.
Apart from betting on F1 matchups in a single race, you can do the same for the entire season. Who’s going to finish higher at the end of the championship – Sebastian Vettel or Charles Leclerc? This is a kind of wager you can expect to find in many sportsbooks that offer F1 betting.
Season Betting
Formula 1 seasons start in spring and last till winter, during which time the drivers get to compete in more than 20 different races. Their performances in individual races are added together to decide the winner of the season. And you can place your money on the driver you think will win the next season.
You can also bet on the drivers' championship standings. For instance, you can bet that a driver will finish among the top 3, top 5, or in the upper half of the table.
Apart from betting on individual drivers, you can also bet on Formula 1 teams. Which team is going to collect the most points before the season end is what you bet on in this type of wager.
Exotic Bets
To make things more interesting for bettors, some sportsbooks decide to offer exotic Formula 1 bets, such as the following:
- What driver will lead the most laps in the race/season?
- Who will achieve the fastest lap during practice?
- Will someone retire during the race?
- Who will make a pit-stop first in the race?
- Will someone get caught speeding in the pit lane?
- Will someone get disqualified from the race?
Sportsbooks are not the only ones who can come up with special Formula 1 bets. You can do the same as well! There are some online books that let the players suggest their own exotic F1 wagers.
