Formula 1 betting (or F1 betting) has grown significantly in Australia over the last two decades. With the moto racing series commonly being considered the biggest in the world, it is no surprise that F1 betting has grown to become as popular as it currently. Especially, when one takes into account that one of the most exciting Grand Prixes takes place in Melbourne.
If you’re looking to learn more about betting on this illustrious motrosport, read on down below. There you will learn how to bet on the sport and which sports betting sites to do it at!
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How to Bet on the Formula 1
There are a number of F1 betting markets available at Australian sportsbooks. Over the years, the following have proven to be most popular with Aussie motorsport bettors:
- Driver’s Championship Winner – this is a bet made on the driver to win the season. It can be made at any time of the year. It is important to note that odds shift as the year progresses and the outcome becomes clearer. Usually a handful of drivers are only ever considered good enough to win the ultimate prize.
- Constructor’s Championship Winner – a future bet similar in nature to that of the Driver’s Championship Winner. However, this one focuses on the team’s behind putting the car together.
- Race Winner – these are bets made on singular grand prix race. For example, a punter may bet on Sebastian Vettel to win the Australian Grand Prix. The driver then only needs to win this race for the bet to payout.
- Fastest Lap – a bet made on which driver will clock in the fastest time in a race. Bear in mind, the person who clocks in the fastest time isn’t always the winner of the race. In the 2018 Championship, the driver who achieved the fastest lap hardly ever also won the actual race.
- Top 3 – these are bets made on which three drivers will finish in the podium positions. Drivers don’t need to finish in a specific order for the bet to payout. Some bettors think that these bets are easier to win payouts on due to the predictable nature of Formula 1 races.
- Pole Position – these are bets made on which driver will win the pole position. Betting on this aspect of F1 means needing to watch the practice races.
Best Formula 1 Betting Tips
Formula 1 may seem like a difficult sport to bet on if you unfamiliar with it. If you keep the following tips in mind, you may find yourself making more successful bets than not in future:
- Stick to the Favourites – Formula 1 is not a sport you want to bet on if you are looking to make money off “giant-killer” results. Ultimately, it’s generally only the favourites who ever win races. At the moment that generally means Lewis Hamilton, Sebastian Vettel, Daniel Ricciardo, or Max Verstappen. Punters will really struggle to find situations in which other drivers win. So, while betting on the underdog may promise big wins, it is highly unlikely the result will actually happen.
- Don’t Overvalue Pole Position – remember that pole position does always affect who may win a race. Yes, while the driver who starts in pole does get an initial advantage over the others, there have been many situations in which the driver who starts in pole doesn’t win the race. For example, in the 2018 Formula 1 Championship, Valtteri Bottas started in pole twice but failed to win either of those two races.
- Focus on Good Duos – if you’re looking to bet on the Constructer’s Championship, you need to make sure that you look for a duo that is performing very well. For example, it doesn’t matter if Lewis Hamilton is doing well if Valtteri Bottas continually retires from races. While Hamilton may win the Driver’s Championship, Mercedes will not be in the running for the Constructer’s highest award.
Formula 1 Betting Odds
F1 betting odds are worked out by taking a look at many different factors. Some include looking at the performances of drivers and cars, the track, and the weather conditions faced during the race, along with many others.
It is important to note that Australian bookmakers will always display odds using a decimal format. Punters can calculate their total payout by multiplying the odds next to a driver’s name against how much they would like to wager.
It is important to try and find value bets at the top-rated sites recommended here at AUSportsBetting.org. You never know when a sportsbook may just undervalue a highly-favoured driver by accident.