As the pinnacle of motorsport, Formula 1 is among the most exhilarating sports on the planet. Blessed with the most talented drivers, cutting-edge technical innovation, and new and historic rivalries, there is good reason F1 is beloved by fans around the world.
Of all the motorsports, it is also Formula 1 which attracts the most interest with punters assessing the best betting sites in the UK. While the 24 Grands Prix which make up the Formula 1 calendar certainly don’t need any additions to enhance the excitement, Formula 1 bettors enjoy the strategic element involved in the battle with the bookmakers. But when betting in F1, what markets are available to us?
Formula 1 betting markets
When betting on the beautiful cars of Formula 1, the markets are split into two broad categories: wagers related to a specific grand prix and longer-term wagers.
Individual grand prix betting markets
- Race Winner: As simple as it sounds. Here you are betting on which driver will win the race. Several betting operators allow each-way betting on this market, generally at either 1/3 the odds for a top 2 finish or 1/5 the odds for a top 3 finish. An each-way bet is effectively two bets – one bet on the driver to win the race at the full advertised odds, and another bet to the same stake on the driver to finish in the placed positions at either 1/3 or 1/5 of the advertised odds. For example, a £10 each-way bet costs a total of £20. If the driver wins the race, both of the bets pay out as winners. If the driver finishes in the placed positions, only the place part of the each-way bet pays out as a winner.
- Podium Finish: A bet on a driver to finish on the podium, i.e. in the first three positions. While similar to an each-way bet in the win market, this bet requires only one stake and will pay out the same regardless of whether your driver wins the race or finishes second.
Let’s take a look at an example to illustrate the differences between the two bets. Ahead of the 2026 Miami GP, George Russell was available to back at 11/8 to win the race, with each-way terms of 1/5 odds for a top 3 finish. His odds for a podium finish were a general 2/9. Say you would like to back Russell for a total of £20 but are unsure whether to place a £10 each-way bet or a £20 podium finish bet. The potential returns for each bet type are as follows.
- £10 each-way bet:If Russell wins: £13.75 profit from the win part of the bet + £2.75 profit from the place part of the bet = £16.50 total profit.If Russell finishes second or third: £10 loss from the win part of the bet + £2.75 profit from the place part of the bet = £7.25 loss.If Russell finishes outside the first three: The win and place parts of the bet both lose for a total loss of £20.
- £20 Podium finish bet:If Russell finishes first, second or third: The bet wins for a profit of £4.44.If Russell finishes outside the first three: The bet loses for a total loss of £20.
- Winning team: This is simply a bet on which team will win the race.
The above three wagers are by far and away the most popular Grand Prix bets, but there are others available, including:
- Top 6 finish: A bet on a driver to finish in the top 6.
- Top 10 finish: A Bet on a driver to finish in the top 10.
- Head-to-head: Predict which of two named drivers will achieve the better finishing position.
- Group betting: Bet which driver from a named group of drivers will achieve the best finishing position.
- Fastest lap: Predict which driver will record the fastest lap during the race.
- Pole position: Predict which driver will earn pole position.
Longer term markets
In addition to the race-by-race wagers, F1 also offers longer-term betting markets, the most popular of which are:
- Drivers’ Championship winner: A bet on which driver will be crowned World Champion at the end of the season.
- Constructors’ Championship winner: A wager on which team will lift the Constructors’ title.
With so many markets available, there is no shortage of choice when betting on Formula 1, but, as always, remember to gamble responsibly.
