How Does Formula 1 Betting Work?
Formula 1 (F1) Betting is one of the more popular sports to bet on. Its popularity started during the days when betting in person was the only way to bet. Now, primarily Formula 1 betting is done online. Just like with any sports betting, there are many different ways to bet on Formula 1. Bettors must understand the different types of bets before choosing which to wager on. Each bet allows for different ways to profit, with some being safer than others.
Types of Formula 1 Bets
There are six most popular ways to bet on Formula 1 races. These are the bets that are most commonly seen on betting websites and live books. Ways to bet on Formula 1 include:
- To-Win Bets
- Podium Finish Bets
- Driver Matchup Bets
- Proposition Bets
- Pole Position Bets
- Future Bets
To-Win bets are betting on one driver to win the race. The betting system is easy and allows you to bet however much you want on that specific driver and have a greater payout if they win the race.
Podium Finish Bets
Podium finish bets are run similarly to To-Win bets, but with safer odds of winning. Podium finish bets are placed on a driver you think will perform well. If the driver ends up on the podium in either first, second or, third - you win.
Driver Matchup Bets
Driver matchup bets allow for more safety in the betting process. Through these types of bets, two drivers are picked and the bet is placed on who will perform better between the two. Everything else in the race is not important in this bet to win, only the two drivers’ performance.
Proposition bets are bets predicting skills. This can be a bet placed on a driver to have the most laps in a race. This can also be unskilled and bets on cautions during a race.
Pole Position Bets
Pole position bets are bets on the driver with the best qualifying time, earning the pole position. This position is given to the driver with the first slot at the beginning of the race. The driver betted on must be the first one in the grid in order to win the bet.
Lastly, future bets are placed on drivers’ success throughout the season. Future bets are placed on drivers or teams that you think will win the championship in the end. These can be made at the start of a season and will follow through until the end championship. This is the longest type of bet made for Formula 1.
Where to Bet on Formula 1
Formula 1 has always been a popular sport to bet on, prior to the advancement of technology allowing for ease and access online. Just like most bets these days, Formula 1 bets are majority made online. These need to be made in states that have sports betting legal, and available online. Popular websites for Formula 1 betting are Bovada, BetOnline, MyBookie.These are only available to residents who reside in states where betting is allowed. Formula 1 bets can also be made in person, if at the game or at a casino that allows for sports betting.
How do you bet on the Formula 1 Championships?
The Formula 1 World Championship takes place yearly with 21 races to bet on throughout the March until November. Bettors are able to bet on each round race or to bet throughout the entire championship for the winner, through future betting. The 2019 Formula 1 World Championship has marked the 70th year of the championship races. The schedule of the races is posted online in advance and can be tracked on the Formula 1 official website.
Is Formula 1 betting popular internationally?
Formula 1 betting is popular internationally due to its high popularity in European countries. There are maximum betting payouts in Europe that can reach 250,000 Euros. Formula 1 began as a European sport and is still the most popular motorsport in the world. International bettors also bet online, just like U.S. betters do in states where sports betting is legalized.
Where is F1 most popular to watch and bet?
Formula 1 is commonly watched all over the world by fans. In 2019, Formula 1 had its highest viewership from Brazil, Germany, Italy, UK, and the Netherlands. These are the top five markets for Formula 1 in 2019. Across the world, in Europe, Asia, and North America an increase was seen in the number of viewers in 2019. Formula 1 races are all around the world, but Germany has been one of the greatest hosts throughout its time.