If you’re a big fan of motorsports and regularly watch the Formula 1, you may have considered putting your money where your mouth is. Sports betting is a multi-billion dollar industry in Europe and North America, but F1 isn’t always the first on the list for regular bettors. But why not? As Legalbet highlights, there are many bookmakers taking bets on motorsports.
What sports can be bet on?
What sport you can bet on exactly depends on which bookmaker you use. Not all bookmakers have motorsports, but those that do will vary in what they take bets on. Generally, it’s quite easy to find Grand Prix betting markets at most sports bookmakers. Moto GP World Championship is also commonly available, and so is NASCAR. Anything more niche than this would require finding a specific sportsbook for.
What types of bets are there?
Of course, betting on the race position is the most popular bet. Not just on the winner, but runner up, top 3, and so on. For Formula 1, it’s possible to bet on a safety car or not, or a virtual safety car, as well as outright winners for a tournament. For Formula 1 it’s possible to bet on the fastest lap in the race, first retirement in a race, fastest driver in practice, which team will get the most points, and so on. Pit stops, safety cars, and many other betting types overlap with NASCAR too.
Predictions
Betting is all about predicting things, but this can be your prediction or another person – perhaps an expert or tipster. We can also look at the current odds to see who the bookies and public think is the favourite (odds are often adjusted in accordance to demand, so if a certain racer receives a lot of bets, their odds will get shorter). Recently Max Verstappen was the 11/18 favourite for the Japanese Grand Prix Winner; that meant betting £180 would have meant winning £110 – plus your stake is returned.
Whilst Hamilton was third favourite behind Leclerc for the Grand Prix win, he was the fourth favourite for a points finish and fastest qualifier. Ferrari were 1/1 Evens, which seems like a popular bet right now in Formula 1 races.
How to make a pick
When trying to make a pick yourself, we should strive for more than just gut feeling or imitating others. First and foremost, we can ask ourselves where is the race taking place? Every circuit is different with unique challenges, and these differences favour some racers and not others, or may favour some cars and not others.
Secondly, it’s important to check the form, because momentum and confidence is a big factor in racing. The grid is important to check of course, as is watching closely before the event begins. If you believe an underdog will do well, this is a good chance to get better odds.
It’s also worth seeing if you can extract any more value out of a bet. For example, a bookmaker may be offering top price guarantee or enhanced odds. Just don’t bet on anything you don’t believe on the basis that it’s in a promotion.
