Formula 1 Odds 2023

Betting Guide, Strategy, And How To Bet

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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 2023 F1 circuit stops for the first time in the sport’s history.

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

The 2022 Formula 1 season was filled with drama. Max Verstappen and Charles Leclerc battled it out for the title of world champion early on before Verstappen pulled away and secured his second championship. This season, Red Bull seems to have the strongest package again, but Ferrari has hired a new team principal and won’t go down without a fight.

There was speculation last year that Lewis Hamilton may walk away from the sport, but he has re-committed to Mercedes and says he is as hungry as ever for another title. He will race alongside his teammate George Russell and try to battle Verstappen to win his eighth world title.

Formula 1 betting markets

Most online sportsbook operators offer a variety of Formula 1 betting options. These range from futures bets on your favorite drivers to individual race winners, fastest lap winners, pole position, and a driver’s finishing position. Some sportsbooks also offer head-to-head matchups within the race.

2023 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’re picking a driver to finish with the most points at the end of the Formula One season.

Winner Without Max Verstappen

With Max Verstappen so far ahead to be the antepost winner and secure the 2023 F1 World Championship, sportsbooks are now offering odds on which driver will finish second behind him.

2023 Formula 1 Constructors Championship Futures

Odds Without Red Bull

With Red Bull so far ahead in the Constructors Championship futures, sportsbooks are now offering odds on which group will finish second.

Formula 1 race winner

Betting on the outright winner of each Formula 1 race is the most standard bet you can make. Max Verstappen has been a heavy favorite in most races in recent years, with Mercedes and his fellow Red Bull teammate following closely behind.

After that, most of the other drivers in the circuit are heavy underdogs.

For example, in the Bahrain Grand Prix, the first race on the 2023 schedule, you have 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. At those odds, sportsbooks feel he has about a .33% chance of winning the race.

Betting on the fastest lap

Drivers that 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 how he performs during qualifying. There are three qualifying sessions for each race. 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.

More often than not, Red Bull, Ferrari, and Mercedes are dueling it out for pole.

Wager on finishing position

It’s been rare lately for any driver besides Max to take the top spot on the podium. However, there is a lot of talent in the middle of the pack. Ferrari and Mercedes secured a handful of podium finishes last season.

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 not sure 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 it comes to wagering on a driver’s finishing position.

Driver matchups

While the 2022 season gave us amazing drama for the championship early on in the season, there were other exciting battles happening on the track. Ferrari and Mercedes battled for second place in the Constructors’ Championship. Ferrari came out on top due to Lecelrc’s successes early on in 2022.

That competition between the two teams isn’t going anywhere, and you can bet on it with driver matchups.

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 as well, instead of a pair.

2022 F1 rule changes

The FIA planned significant technical changes for the 2022 F1 season. The idea was to greatly impact the car’s design and safety features while also helping slightly level the playing field.

We aren’t expecting Haas to take a podium, but it may help teams like Ferrari, Alpine, and McLaren catch up to Mercedes and Red Bull.

The changes help cars race closer and promote more overtaking.

Drivers also race with new tires. Pirelli debuted 18″ wheels that are low profile. These tires overheat less when they slide, promoting close racing.

The return of wheel covers was designed to help teams increase their downforce.

The FIA continues to try to eliminate as many loopholes as possible regarding car construction. Ideally, it would help prevent one or two teams from having an overly dominant car while the rest struggle to keep up, but we saw that it didn’t help much last season. Verstappen secured his championship pretty easily in 2022.

2023 Formula 1 schedule

The 2022 Formula 1 schedule has been released and will feature a record-breaking 23 races. The season will start in Bahrain and end in Abu Dhabi.

Miami will host the first of three races in the United States.

Date Grand Prix
March 5Bahrain
March 19Saudi Arabia
April 2Australia
April 30Azerbaijan
May 7USA (Miami)
May 21Emilia Romagna
May 28Monaco
June 4Spain
June 18Canada
July 2Austria
July 9United Kingdom
July 23Hungary
July 30Belgium
August 27Netherlands
September 3Italy
September 17Singapore
September 24Japan
October 8Qatar
October 22USA (Austin)
October 29Mexico
November 5Brazil
November 19USA (Las Vegas)
November 26Abu Dhabi