A Beginner’s Guide to Formula 1 Betting Online

One of the most-watched sports in the world, Formula 1 is not only a favorite among motor racing aficionados, but sports bettors as well. Formula 1 betting gives you a chance to enhance your experience as a spectator, while also giving you an opportunity to win big money.

If you’re still yet an F1 bettor, it’s time to become one!

Formula 1 – Overview & History of the Sport

The year 1950 was the dawn of a new era in motorsports. That’s when the first season of Formula 1 happened. It didn’t take long for this competition to become a favorite of racing enthusiasts from all over the world.

Unlike NASCAR which is primarily focused on the US market, Formula 1 is a global spectacle. There are F1 circuits on every continent, with each race attracting tens of thousands of spectators and even more viewers in front of their TV screens.  Each Formula 1 season consists of individual races known as Grands Prix, staged in various parts of the planet, from Australia to Canada.

Formula 1 Terms and Phrases

Formula 1 is a unique sport in many ways. There are some terms and phrases which you might have not heard ever before. We're now going to talk about some of them!

• Formula one Grand Prix – Grand Prix is French for ‘great prize’ and refers to the series of races during the F1 season. There is a total of 21 Grand Prix races in the season, 11 of these are taking place outside of Europe. As the Grand Prix is hosted by different nations, each event takes the name of the country, or region, of where it's hosted. The Monaco Grand Prix is considered both the most difficult and most prestigious to win. 
• F1 Season – It starts in spring, ends in winter.
• Constructors – In Formula 1 lingo, the term constructor refers to the company responsible for building the cars for their team of drivers. Over the years, the terms constructor and team have become interchangeable.
• Pole Position – A day before every F1 race, all the drivers have to compete in three sessions of qualifying to determine the pole position. The fastest driver in the qualifying sessions becomes the pole-sitter, that is, the driver who starts the race in front of everyone else.  The remaining drivers are positioned in order of their qualifying times, from fastest to slowest.

Types of Formula 1 Bets

Not only is Formula 1 special when it comes to terminology, but also special when it comes to betting markets. Here are some of the most well-known Formula 1 bet types.

Race Winner

The most popular type of wager in Formula 1 betting is the race winner. How it works is that you put your money on the driver you think will finish the race before anyone else. If he does win the race, you win!

Podium Finish

After every race, the three best-placed drivers get to climb the podium. Some Formula 1 sportsbooks let you bet that your driver will end up there. If he wins one of the three sports, you get the money.

Team Betting

Instead of betting on an individual driver, you can bet on a team, thus boosting your chances of winning.

Driver Matchup

Some Formula 1 bookies offer the so-called driver matchups, in which you get to choose which of the two drivers will finish the race faster.

10 Commandments of Formula 1 Betting

Same as with any other sport, Formula 1 betting also requires knowledge, not luck. If you want to be a successful Formula 1 bettor, here are the things you need to keep in mind:

1. Drivers’ Stats – The fact that Lewis Hamilton has won four F1 championships in the last five seasons makes him a huge favorite to win another one. Such stats can help you a lot when searching for winning F1 bets.
2. Constructors’ Stats – Team Mercedes has won the past five championships, ending the four-season dominance of Red Bull. Betting that Mercedes drivers are going to do fine could be your ticket to success.
3. Track Performances – Different tracks suit different drivers. Some love the Monaco Grand Prix where there are plenty of twists and turns; others prefer flat roads where they can push the pedal to the metal.
4. Pole Position – Being the pole-sitter means that the driver starts the race in front of everyone else, which gives him a huge advantage from the very start of the race.
5. Practice Times – If the driver has impressive lap times during the pre-race training, it’s a hint that he’ll do well in the actual race as well.
6. Weather – Rain can make the track slippery, which can cause all kinds of unexpected scenarios, e.g. underdogs winning.
7. Form of the Driver – Formula 1 drivers are humans, after all. They can get in a bad form, which is when you should avoid backing them with your cash.
8. Latest F1 News – Not only can it help you with Formula 1 betting, reading motorsports news will keep you entertained between the events.
9. Off-Track Gossip – Check for gossip about the problems within the team. The Hamilton–Rosberg rivalry, for example, led to all kinds of confrontations both on and off the track.
10. Professional F1 Betting Previews – If you’re not too experienced with online Formula 1 betting, maybe it’s best to ask someone for help. The good news is that the internet is filled with F1 betting previews from real experts.

Next Step – Playing For Real Money

Once you become familiar with everything F1-related, it’s time to cash in on that knowledge. It’s time to start with Formula 1 betting! 

Luckily for you, there are plenty of Formula 1 online sportsbooks out there. With a little bit of effort, you will be able to find the best one. And once you do it, you can start placing F1 bets. Of course, there’s no need to rush – you’re not on the racing track, after all.

Take your Formula 1 betting adventure slowly, with small bets just to see how it goes. If you prove to be an F1 betting specialist, why not "step up a gear"?