Formula One Online Betting Guide

The highest class of single-seat race car driving in the world, Formula One (F1) is fast-paced and action-packed. Online betting on F1 is exceptionally entertaining if you know what you are doing. Don’t know what you are doing or looking to improve your action? You’re in the right spot! Here at Betting Guide NJ, we will lead you through all the basics and share our compiled list of F1 betting strategies and tips. Let us help you squeeze the juice from the online sportsbooks.

By studying this guide and coupling them with your research, you are well on your way to making money betting on F1. Who knows, you could become a professional wagerer in time. Take your time and manage your bankroll well, until you have a clear plan in place. When the time is right, put the pedal to the metal and use that hard-earned master-plan to the fullest.

What will you find in this guide?

  • F1 Online Betting – the basics
  • Weather and Track Advice
  • Tips for Winners
  • F1 Online Betting – FAQ

F1 Online Betting – The Basics

All online bookmakers in New Jersey have F1 in their market options. Browsing around for the best odds makes the serious bettors stand out from all the rest. Throughout an entire season, these small advantages can make a huge difference in your earnings. Besides this, some sportsbooks use promotions and welcome bonuses to get you to sign up with them. Sometimes, they grant free bets, use these to dip your toe in the water of F1 betting. Or get extra value as an experienced bettor!

There are many different ways to bet on F1. Let’s do a rundown of the basic set of wagers. 

Race Winners

The easiest and most common way to bet on F1 races is to pick the winner. When your driver takes home the win, you take the cake. Any other result for the driver and you lose. Nowadays, only three teams have a strong chance of winning. The 2019 season only saw five unique drivers winning a Grand Prix. Those five will have relatively low odds, making this bet, despite its popularity, hard to make profitable. 

F1 Driver Matchup Bets

Most online sportsbooks offer a multitude of matchup bets. This bet is so much fun because you only have to choose the winner between 2 or more drivers. It doesn’t matter if it’s a battle between two drivers in the back of the pack or two in the front. This bet is all about predicting the outcome between two individual drivers.

So if you think that a driver will do better than the bookies give him credit for, but you still don’t think he will get the win, this is a great option. You can benefit from the knowledge of a driver’s good form, even if you don’t believe he can win the race.

Around 10 to 15 matchup bets are commonly available in each sportsbook, so you are surely finding your preferred driver.

F1 Top 3/6 Bets

Top 3 bets (or Podium Bets) are wagers where you select the drivers who will finish in the top three of a Grand Prix. The order in which they finish doesn’t matter; you will get paid regardless. When you see a clear distinction between a few drivers and the rest of the pack, this is a good bet to earn some money on.

The Top 6 bet is similar to the Top 3, with the distinction that here you have to choose the best six drivers in the race. Like we said before, there are only three teams with three drivers each that are dominating every Grand Prix of the season these days. It seems like a reasonably easy bet, right? Well, the problem is that nearly all races will include some crashes and car failures. Even the best drivers in the world will hit upon a stroke of bad luck from time to time. So, despite this bet looking good on the surface, the risks are high.

Pole Position Bet

Here, you bet on which driver you think will start in pole position on the grid. The Pole Position bet is another straightforward bet. Pick a driver and bet on whether he’ll take pole position. If your driver qualifies the quickest, you win.

Many people think this is similar to the race winner bet. It makes sense, the fastest qualifier is the fastest on the race day as well, right? Well, many different factors are influencing a car’s performance. We will discuss those later on in the weather and track section of the article. 

Future Bets

The main future bet you can wager on in F1 is who will win the Driver’s Championship. Mercedes has won the last five championships in a row, with Lewis Hamilton winning four. However, the other teams are closing the gap quickly, and with the new rules coming up in 2021, nobody knows who will come out on top. When the new season begins, look at how the odds stack up and bet on who you see winning it all.

F1 Prop Bets

Sometimes, betting on the winner can get tedious. Online sportsbook introduced proposition (prop) bets to spice up the betting action. You can bet on a number of unique and mostly luck-based things that might happen during a race. Variance is high on this one, and chances of winning are not the greatest. Here are the most commonly found ones:

  • What driver will lead the most laps?
  • What driver will record the fastest lap during practice?
  • The first driver to retire during a race.
  • The first team with a driver who retires during a race.
  • Winning margin.
  • Who will be the first driver to make a pitstop?
  • Will driver X lead a lap during the race?
  • Will driver Y get caught speeding in the pit lane?
  • How many times will the safety car come out?

As you can see, proposition bets are fun but also complicated bets.

Weather Advice

An essential factor in the outcome of Formula One races is the weather. Check out the weather and adjust your bet accordingly. The weather can impact the results dramatically, more than in any other sport.

When the forecast is looking excellent, with blue skies and no sign of changing, the weather will make little difference. All teams can cope with these conditions equally. However, when the weather worsens, issues start arising. Rain can cause havoc with the outcomes. Research the following aspects when you are checking the weather:

  • The individual driver’s performance in bad weather. Newer drivers may have trouble.
  • The historical weather data of the course.
  • The current forecast.

Track Advice

Another highly impactful factor of betting on F1 is being able to understand the track’s layout and matching them with the car and driver’s capability.

Every race track is unique, and each of them presents new challenges for the drivers and teams. Some cars are designed to perform better in corners while others prefer straight-line speed. Other factors in which the track can have a deciding role is temperature or humidity. Engines behave differently at different altitudes, temperatures, and moisture levels. Specific teams cope better with certain conditions, and this shows. Look at the track record of a team during the season and match that with the different conditions to see who will be the next one.

A prime example of an extremely complicated track is the Grand Prix of Bahrain. It creates more challenges for teams than any other track. 

The track not only consists of four long straights but also contains several tricky medium-speed corners. This combination of requiring straight-line speed as well as cornering grip leads to many teams making compromises in one section or the other.

Bahrain is also famous for its high temperatures with low humidity, which puts an enormous strain on engines as well as the brakes, which are put into overtime with extended braking zones after all those straights. 

You can see how much the condition and layout of the track can impact the race. Check out how the car is looking during practice and qualifying to find out how prepared it will be for the actual race.

Top 5 tips for Winners

Finding value

Finding value in F1 bets doesn’t mean to go for the long shots. Look for value within the top drivers, not to strike it rich on a prayer. Underdogs seldom win, but there are still favorites who are undervalued.

Before or after qualifying bets

Some Grand Prixs’ feature an unusually narrow track. For these tracks, betting on the race winner is highly dependent on who wins the pole position in qualifying. At these tracks, the odds are wildly different before or after qualifying for these tracks. Take advantage of this when you see a clear winner for pole position.

Better teams mean better results.

Two stand stronger than one; this is also true for F1 teams. A top driver with a reliable teammate can benefit more than one with an inferior teammate. It is easier for organizations to devise a winning strategy when they got two talented drivers at the wheel. Pit-stop tactics and drafting for each other can significantly impact the race.

Watch all the footage.

Only looking at races and qualifying will get you some data, but not all. A race weekend in F1 starts on Friday with the two free practice sessions. Watching these can give you the first real insight into additional car upgrades, the pace on a new circuit, and how the driver is handling his weekend. An accident, mechanical fault, or crash during these periods could have a detrimental impact on the remainder of their Grand Prix due to a loss of running time.

Use F1 stats

It’s crucial to delve into the statistics of what is a mostly data-driven sport. Background knowledge on the race favorites will boost your ability to pick well. 

F1 Strategy FAQ

  • When is the best time to place F1 bets?

    If you are a seasoned veteran and know your way around a track, betting opens on the Tuesday before the race. For beginning punters, we recommend waiting until qualifying to collect all the data you can.
  • How many races can I bet on?

    There is no limit to the number of races you can bet on. A season features 21 Grand Prix, meaning enough betting action to go around.
  • Can I bet during a race?

    Yes! Live betting is at an all-time high. Updates of odds are quick and seamless, making placing a bet during a live stream profoundly enjoyable.