Formula 1 Odds

Written By Nicole Russo | Last Updated at September 2, 2024

While NASCAR is currently the most popular motorsport in the US, Formula 1 is quickly gaining the attention of American racing fans. This is evidenced by the US hosting three 2024 F1 circuit stops.

Drivers will come to Miami in May, Austin in mid-October, and Las Vegas in November.

2024 F1 Championship Odds

This futures market for the F1 driver's world championship is also sometimes called antepost betting. When you bet on antepost winner odds in F1 betting, you pick a driver to finish with the most points at the end of the Formula One season.

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Formula 1 race winner

Betting on the outright winner of each Formula 1 race is the most standard bet you can make. Max Verstappen is usually a heavy favorite for the majority of these races, but not always.

For example, in the Bahrain Grand Prix, the first race on the 2023 schedule, you had Verstappen listed at -150 to win the race with Pierre Gasly at +30000.

You would need to bet $150 on Verstappen to win $100 plus your original stake back since sportsbooks view his win probability at 60%.

On the other hand, a $100 bet on Gasly would earn you $30,000 if he won the race since he is a long shot. Sportsbooks feel he has about a .33% chance of winning the race at those odds.

Betting on the fastest lap

Drivers who finish in the top 10 can secure a bonus point for completing the fastest lap during the race. These bonus points can make the difference in close battles for the Drivers' Championship.

If you're not entirely sure who will win the race but like how a certain team's car performs, you can bet on which driver will earn the fastest lap.

Pole position bets

Pole position is the position at the front of the grid before the race. Generally speaking, drivers in pole position have an advantage when it comes to getting out in front of the pack and leading the race.

A driver's starting position on the grid is determined by his qualifying performance. Each race has three qualifying sessions. During the first session, the five slowest cars are "eliminated" and will occupy grid slots 16-20.

In the second session, the next five slowest cars are again eliminated and will occupy grid positions 11-15.

In the third and final qualifying round, it's a fight to be the fastest. Each driver determines their grid position based on how fast they complete the lap, with the fastest driver getting pole position.

This means a pole position wager is a pre-race wager and will be settled before the race begins.

Wager on finishing position

It was very rare last season for any other driver besides Max Verstappen to win a race. However, that's not the case in 2024. Charles Leclerc secured the win in Monaco, and Lando Norris won his first-ever race in Miami. However, if you're still fairly certain Verstappen will clinch the victory and don't love those odds, there are other markets for you.

That's where betting on a driver's finishing position comes into play. If Leclerc has impressed you and you think he can make the podium, you can bet on him to finish in the top three.

If you're unsure about a podium spot but are still impressed with his driving, you can wager on him to finish in the top six.

Some sportsbooks might offer more or less variety when wagering on a driver's finishing position.

Driver matchups

While the 2023 season did not have much drama regarding the championship, there were other exciting battles on the track.

Instead of betting on the winner of the race or an exact finishing position, you wager on who performs better out of a pair of drivers.

The sportsbook may pair Lewis Hamilton up against Charles Leclerc. When you wager on a driver matchup, you are choosing which driver out of the two finishes better in the race.

Sportsbooks may also allow for matchups against a group of drivers instead of a pair.

2024 Formula 1 schedule

Compare Betting Sites & Apps For The Best F1 Odds

When betting on F1, staying updated with the latest odds is essential, as they can shift quickly based on driver performance and race conditions. To get the best value, compare different sports betting sites for the most competitive odds and a variety of betting markets. Utilizing top sports betting apps allows you to place bets on the go, monitor real-time line movements, and capitalize on emerging opportunities. With the right strategy and tools, you can optimize your betting approach and maximize your potential returns when wagering on Formula 1 races.