How to Bet on Formula 1 Online: Everything You Need to Know
If you want to take pole position at your local sports betting site when betting on Formula 1, then this betting guide might be exactly what you need. We will look at all the different F1 bet types, the top F1 betting sites, tips, tricks and strategies for F1 betting and important terms you need to know.
So, let’s take a look at where and how to bet on Formula 1 and win!
How to Bet on Formula 1 in 2022
Formula 1 is about more than just one race. In a way, it is like a soap opera – and every single race is like an episode of an ongoing story – that culminates at the season end when the driver is crowned champion and the winning team takes the Constructor Championship. This provides a plethora of betting opportunities – betting on the winner of the legendary Monaco Grand Prix, on Lewis Hamilton to win the Drivers Championship, or betting on Ferrari to take the Constructor crown
When the season starts, we travel all around the world with our favorite drivers and teams as they battle on the different tracks – and we can head over to the top F1 betting sites to bet on the outcome.
Formula 1 Betting Explained: Formula 1 Betting Lines
Here are some of the most popular Formula 1 bet types:
- To Win Bets
- Podium Finish Bets
- Head to Head Bets
- Pole Position Bets
- Proposition Bets
- Future Bets
To Win Bets: First Past the Post
This is the most common bet type for F1 fans. You are simply placing a wager on who you think will win the race. As there will be multiple possibilities, you can get pretty decent odds on this – especially if you don’t go for the favorite driver – the one in pole position for the race.
If you want to give yourself a better chance, you could bet on more than one driver – or opt for a podium finish bet.
Podium Finisher Betting: Top Three Finish
If you think a driver has a good chance of winning – or at least doing well, but you aren’t confident enough to bet on the win, then a Podium Finisher bet is a good call. This means that he could come first, second or third and you’d win. These don’t pay out as much as winner bets but are easier to hit on.
Head to Head: Driver Matchup Betting
If you aren’t too confident in betting on one driver to beat all the others, but you are confident that he will beat one of the other drivers, then you can place a Head to Head wager. It won’t matter where your driver finishes – as long as he places above the driver he is pitted against.
So, you could bet that Lewis Hamilton beats Max Verstappen. It doesn’t matter if Lewis Hamilton comes in 8th or 9th… as long as Verstappen finishes behind him.
Pole Position Betting: Who Starts First
The day before the race comes qualifying – which is where the drivers compete to start towards the front of the pack. All drivers want to start in pole position (first) as this gives them a better chance on race day, especially when the track is hard for overtaking. You can bet on the result of the qualifying – and put money on who you think will take pole position.
Proposition Betting: Betting on the Details
This is where you bet on events in the race – not necessarily the outcome. It could be a bet on which driver you think will get the fastest lap of the race, how many cautions you think there will be or how many accidents you think might occur in a race.
Futures Bets: Long Term Wagers
This is betting on the long-term result rather than the short term, So, instead of betting on who you think will win a race, you would bet on who you think will take the Drivers Championship or Constructors Championship at the end of the season.
Formula 1 Betting Glossary
Here are the main terms you need to know when betting on F1:
|F1 Betting Terms||Definition|
|Backmarker||A driver that stays at the back of the field and is often overlapped by leaders.|
|Drive-Through Penalty||A penalty given to a driver for an infraction. They have to enter the pit lane and comply with the speed limit before joining the race again.|
|Formation Lap||The lap before the race where drivers warm up their tires and check the condition of the track.|
|Jumpstart||If a driver moves their car before the starting lights are turned off – they are normally given a penalty.|
|Polesitter||The driver sitting in pole position.|
|Undercut||A driver heads to the pit early to get a speed advantage with new tires.|
|Checkered Flag||The flag that is waved at the end of the race.|
|Delta Time||The time difference between 2 laps or 2 cars.|
|Grip||The traction that the car’s tires has on the track.|
|Pits||Where the cars go to refuel and change tires during a race.|
Best Formula 1 Betting Tips: Formula 1 Betting Strategy
If you are ready to start betting, then here are things to consider when coming up with a Formula 1 betting strategy.
Here are our top Formula 1 betting tips.
Bet on More than One Driver
Most people simply bet on the one driver that they think will win (a race or the championship). However, betting on more than one is a sign that you might know your F1 betting better than others. You have a better chance of winning if you bet on more than one – and you still have a good change of making a profit.
Understand the Circuit History
Not all Formula 1 racetracks are the same. As such, you need to know the history of the tracks. Find out which drivers do the best on what tracks, and how pole positions affect a driver’s chance (particularly when overtaking chances are in short supply). Knowing the performance of drivers and teams on certain tracks is essential.
Team Decisions and Goals
Although this is an individual sport, it is also a team sport, where drivers work together – two drivers per team. A driver will usually drive for their own glory, but they will also want to help their teammate. It could even mean pulling aside and letting their teammate overtake them to take first place… which has been known to happen.
Just because a car is the fastest one in qualifying, it doesn’t mean it will be the fastest on race day. It could be that race conditions change – rain, temperature, humidity etc. If a car can’t adjust, the fastest qualifier may struggle. So, look at the qualifying time and also look at the difference in conditions to see how accurate it is.
Rain, shine, humidity – it can all affect a driver’s performance. Check out the weather forecast and see how drivers and teams usually perform in these specific conditions and on the track in question.
Manage Your Bankroll
You need to make sure you have fun. Set a budget for your F1 betting and stick to it. Read our bankroll management guide for more information.
How to Bet on Formula 1 and Win
So, now it’s time to get betting:
- Read our F1 betting site review, choose your favorite and click on our link to the site.
- Open a new account.
- Deposit into your new account.
- Claim your bonus.
- Choose your race, your wager, your stake and confirm!