F1 betting has increased in popularity in the UK for years, and the F1 season 2024 looks to be a great season from a British perspective. Betting on Formula 1 is possible profitably, and there's loads of F1 bets and great odds to find at each Grand Prix.
From this page you can find Bojoko's F1 betting guide, the best odds for the Formula One drivers' championship along with the constructors' and the 2024 calendar. We also cover each Grand Prix with some basic information on the track, along with of course all the drivers and teams competing.
Below you can find a list of the best F1 betting sites in Bojoko's opinion. You can find dozens of F1 betting markets for each Grand Prix at each bookie, along with of course in-play F1 bets as well. Don't forget our earlier example, where by placing your bets on many different sites with the best odds available you could maximize and in some cases even guarantee your profits!
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Formula 1 betting is possible in a number of different ways. Both old and new UK betting sites provide players with odds for the race winner, head-to-head bets, TOP 3, TOP 6 or Top 10 finishes, safety cars, qualifying results - basically anything! We've covered some of the most common F1 bets you can find odds on below.
Betting on Formula one is possible for the whole duration of the season from March to November until the final chequered flag is waved. Probably the most popular bet is betting on the F1 champion in both the constructors' and drivers' championship, and this bet type is suited for long-term minded bettors. However, the odds for these bets are heavily slashed once the season has started properly.
Usually, the championship is contested by only a couple of drivers or teams, and this looks to be the case in 2023 as well. The biggest favourites for the drivers' title look to be Red Bull's Max Verstappen and Ferrari's Charles Leclerc, with the same teams looking like the only ones to battle for the constructors' crown as well.
So, who should you bank your money on to win the F1 world championship in 2023? We don't have a crystal ball at Bojoko that can guarantee who will win, but it's in fact possible to make a profit by betting on both!
How to win 100% guaranteed when betting on the F1 world champion:
Right now a bunch of bookmakers are offering both Max Verstappen and Charles Leclerc and Ferrari and Red Bull odds of over evens to win the title. In practice, this means that bettors have a golden opportunity to take advantage of arbitrage betting, almost guaranteeing you to profit from your bets. For example:
Naturally, only one of these can be a winner, but whichever driver ends up taking the title, you'll make a profit on your £200 investment! The same concept of course applies to the constructors' championship as well.
Almost all of the betting sites that are listed on our pages offer players the opportunity of betting on Formula 1. Below you can find compiled some of the best odds for the eventual champion from two of the best UK betting sites.
By taking advantage of these odds, you can try to find guaranteed winning opportunities via arbitrage betting. If you are a newcomer to one of the sites, be sure to take advantage of the betting bonuses, which often provide the opportunity to bet without risk.
One of the first things to bet on during a F1 weekend is qualifying. The most popular bet for qualifying is of course bets on the polesitter (fastest driver in qualifying), but straight bets on the fastest time during qualifying are also available. These come into play more in changing conditions.
The qualifying itself is one of the most important aspects of a race weekend, as it's just a fact that a better a driver qualifies, the better chances he has of achieving success in the race. Qualifying consists of three periods, with the 5 slowest drivers of the first two sessions eliminated before the start of the next. Finally the TOP 10 drivers decide the final standings and the fate of pole.
Before qualifying there are 3 practice sessions, and you should know the results of these before making any qualifying bets. Practice doesn't guarantee anything, but it does give a good idea of the drivers and teams who seem to have the track figured out.
How F1 qualifying works:
Traditional sports like football can provide plenty of sporting romance and underdog stories in a single match, which can also lead to massive betting wins. However, in Formula One these kinds of stories are few and far between, and placing bets on ludicrous odds for a surprise driver to win is almost always just throwing money down the drain.
When looking at outright winner odds in F1 for a Grand Prix you should always stick to the favourites. There are 20 drivers in Formula 1, but only 4-6 drivers and 2-3 teams with a realistic chance of winning - sometimes even lower.
If we take a look at race winners in the 2020 and 2021 seasons, only 7 drivers have managed to climb the top step of the podium in 39 races:
Not much to add to those numbers, and it's also good to remember that when another driver than Hamilton or Verstappen has won, the two have usually retired, faced issues or penalties. Only Bottas can claim to have won purely on merit against the titanic duo, and him as well only once or twice.
But what makes Hamilton and Verstappen so dominant? What made Schumacher, Vettel, Senna and Prost so overpowered during their prime? The answer of course is the car they are driving, which is everything in Formula One. Dr. Andrew Bell found in his Sheffield University study on the best driver ever in F1 that:
This can also be found in the success of British F1 drivers of the modern era. For example, Jenson Button was a solid driver, but no one considered him in the top 3 on the grid. However, in 2009 with a rocketship of a car courtesy of Brawn GP and their unique double-diffuser he became world champion. Hamilton is a 7-time world champion, but even he has fallen far behind to 4th and 5th in the standings in seasons where Mclaren and Mercedes have dropped the ball (2009-2013).
How about the importance of pole when betting on an outright winner of a Formula 1 Grand Prix? The answer is extremely simple - a little over 40% of F1 races have been won from pole.
This is a huge percentage that can't be ignored, but a pole doesn't guarantee a victory. Betting on the 2nd or 3rd driver on the grid can often lead to more lucrative betting results, especially at races where overtaking is easier and a lot generally happens, like safety cars. For example, in Monza pole has brough a 83% win rate since 2000, while at the Canadian GP this number is only 33%.
Drivers also have some preferences when it comes to tracks. Take Lewis Hamilton for example - The British hero has won five of the last six of his home GP's at Silverstone, but in Australia he's managed only two wins with 13 attempts. When betting on an outright winner you need to know if your driver of choice is suited to the track or not.
After an outright winner, the next most popular F1 bets are podium bets, or more specifically a driver to finish in the top 3 of a race. Especially later in the season these become much more viable as potential odds on winners decline, and you can find better odds for podium bets. Top 3 bets in F1 bring a nice risk-reward ratio:
For example:
Seven-time champion Lewis Hamilton has reached the podium in 78 of his last 100 races. Let's say that you can find a TOP 3 bet for Hamilton with odds of 3/5.
These aren't the biggest odds out there, but if you would have bet £100 on Hamilton's podium finish in the last 100 races with these odds, you would have ended up with a profit of £2480, despite losing the bet on 22 occasions.
In the 2021 season Hamilton reached the podium in 17/22 races, while eventual world champion Max Verstappen achieved the same result 18/22 times. Every season there are a couple of drivers with these kinds of numbers, and some tidy profits are possible if you know the strenghts and weaknesses of the drivers and teams, and work hard to find the best odds available.
In-play or live betting is probably the most exciting way to place your bets, as you can follow the race at the same time as making a profit from it's incidents and happenings. Whereas in football betting live you need to consider many options statistically before placing your bets, when betting on F1 live you need to make fast and intuitive decisions.
Some people consider F1 races boring affairs, where the end results is always a given. This is of course not completely false, and like you saw above, Grand Prix victories tend to fall to a small bunch of drivers. Despite this, anything can happen at any time, and if you're not awake with your live bets your bankroll may suffer.
One of the most important aspects to in-play betting on Formula One are the pit stops. Every single driver on the grid needs to make at least one pit stop during a race, and use at least two different tyre compounds. Pit stops are usually extremely crucial for the results of a race, and depending on your opinion of the time of a stop you can choose whether to back a driver for success or not.
Keeping your eyes and ears open is also extremely important, as you can hear useful information during the race from both the commentators and team radios. For example, any hints of team orders, trouble with the car, strategy and basically any information that affects the outcome of a race needs to be noted in your in-play bets.
You can hear both crucial and not-so-crucial information from team radios:
Like with all sports, Formula 1 betting also has a number of special bets to enjoy. These include the likes of the team to win the Grand Prix, nationality of the winning driver, safety car/virtual safety car bets, first pit stopper, first retirement and many others.
Betting on a safety car during the race has been especially popular in recent years, as there are far more instances of it being called upon than before. According to F1 fandom Wiki's safety car stats a safety car period was featured in 11 Grand Prix' in 2021, and for example at the Belgian GP a safety car has been called into action in five races in a row.
Stats like these provide good betting opportunities, so it's good to do some work beforehand on understanding the race ahead, along with the tendencies it has. Virtual safety car bets are also an option, as the odds for them are significantly higher.
Bookmakers can also have some of their own special F1 bets, with even boosted odds, free bets and other deals available for them.
For the Formula 1 season in 2023 there will be a total of ten constructors and 20 official drivers. However, due to unforseen circumstances reserve and test drivers might be used in some Grand Prixs.
Mercedes Benz comes into the season as one of the favourites after winning the constructors title in so often in recent years. As for so many years before, headlining the German team will be Great Britain's Lewis Hamilton. The team's second driver is fellow Brit George Russell. Can Russell challenge Hamilton again?
Drivers:
The reserve & test driver for Mercedes in 2023 is last season's Haas driver Mick Schumacher.
Red Bull's Max Verstappen managed to grab his first driver's title at the expense of Hamilton right of the death last season, and he's also the bookies' favourite to renew his crown this season. Like last season "Super-Max" will be partnered by Mexican driver Sergio Perez.
Drivers:
Red Bull's reserve- and test driver for the season will be Daniel Ricciardo.
Ferrari have gone over a decade without winning a drivers or constructors title, and in 2022 they finished 2nd while looking like contenders at the start of the season. However, with the new regulations coming into play expectations at Maranello are high, and with top-rated talent like Charles Leclerc and Carlos Sainz at the wheel, the Italians' dreams just might come true.
Drivers:
Ferrari's test- and reserve driver's will be Italian Antonio Giovinazzi, who spent the a couple of years as an official driver at Alfa Romeo along with 2022 F2 champion, Robert Schwarzmann of Russia.
McLaren were just edged outside the podium in the constructors race last season by Ferrari, finishing fourth. Can the driver pairing of Australia's latest export Oscar Piastri and Britain's Landon Norris repeat the heroics of their 1-2 finish at the 2021 Italian GP more often this season?
Drivers:
Mclaren have not officially named a reserve- and test driver for the season, meaning that many different names might be used across the season.
One of the teams coming into the new season with the highest expectations is Alpine. Their driver pairing of Pierre Gasly and Esteban Ocon brings a nice blend of French passion and youth to the grid, and the team formerly known as Renault could definitely do some damage in 2023.
Drivers:
BWT Alpine's reserve- and test driver for the 2023 season hasn't been confirmed, but Jack Doohan has been touted as a strong possibility.
Red Bull's sister team AlphaTauri will be heading into their fourth season since changing their name from Toro Rosso. Japanese driver Yuki Tsunoda will have a point to prove after a slightly underwhelming couple of seasons. Will we see a Japanese driver on the podium for the first time since Kamui Kobayashi in 2012, and what can rookie team mate Nyck De Vries do?
Drivers:
AlphaTauri hasn't announced an official test- or reserve driver for the season, and they'll likely be using various youngsters from the Red Bull Academy.
Aston Martin had their return to F1 in last season in name, but the former Racing Point team led by billionaire Lawrence Stroll will hope to provide a better vehicle for his son Lance and 2-time champion Fernando Alonso than in 2022. The resources are certainly there, but how will they reflect in the results?
Drivers:
Aston Martin's reserve driver for 2023 will be Stoffel Vandoorne.
Williams' driver situation has changed for the 2023 season. The legendary constructor has Alexander Albon, the first and only Thai driver to ever grace a F1 grid will be partnered with US rookie driver Logan Sargeant.
Drivers:
No official reserve driver has been named for Williams this season.
The Italian team have opted to continue with a driver pairing of Valtteri Bottas, a proven race winner at Mercedes and Chinese driver Guanyu Zhou. Last season's Alfa Romeo started out as a top 4 car, but ended the year as a bit of a disappointment. Can this year's edition fare any better, or will we have to wait for the team's name to change into Audi before success finds them?
Drivers:
Alfa Romeo's reserve- and test driver for the season is Theo Pourchaire.
The only team from United States on the grid, Haas F1 Team's driver lineup sees the return of german driver Nico Hulkenberg, who is partnered with his former nemesis, the Danish driver Kevin Magnussen.
Drivers:
Brazilian Pietro Fittipaldi will be the reserve- and test driver at Haas this season.
The Formula 1 calendar 2023 will be the longest ever, spanning a record-breaking 23 Grand Prixs if all goes to plan. The season begins with the Bahrain GP on the 5th of March, while all will be said and done for the season after the Abu Dhabi GP on the 18th of November.
Below you can find some basic information, statistics and history on each Grand Prix of this record season.
The Dutch Grand Prix is held at the Zandvoort track, which is known for it's unique banked corners that can't be found anywhere else on the calendar. Watching Formula 1 cars going around the sloped corners at speed is truly a sight to behold, and to the delight of the home fans Max Verstappen came out victorious last time out.
Below you can find the track profile of the Dutch Grand Prix:
Dutch GP track record: 1:11.097. Record by Lewis Hamilton (Mercedes) 2021