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Bet on Formula One at BetUK

When looking at the latest Formula One betting odds, it comes as no surprise that Red Bull top most of the markets. Since joining Red Bull, Max Verstappen has gradually risen to the top of the Drivers Championship and those that backed him in the Formula One betting markets have found the Dutchman to be very profitable. However, it isn't just the winner of a race that bettors can find at BetUK, from the opening lap to the finish line, there are hundreds of ways to bet on every Formula One race.

Bet on Formula One Outrights

With the Drivers Championship the crown jewel of the Formula One season, outright betting is one of the most popular ways to bet on Formula One. 24 races, 20 drivers and 10 teams, each looking to get as close to the Formula One World Championship as they can. Realistically, only a select few stand a chance of winning but at the start of the campaign, every team has their dreams and realistic goals of success. For the likes of Red Bull, Mercedes and Ferrari, that goal is to win the Drivers and Constructors Championships. For the likes of McLaren and Aston Martin, it's about being as close to top spot as possible, something that McLaren significantly improved on in 2024.

You have to go back to 2008 for the last time that a driver from Mercedes or Red Bull didn't win the Drivers Championship. That was Lewis Hamilton who won the Championship for McLaren, Hamilton bested Ferrari's Felipe Massa to win the Championship by one point after losing out to Kimi Raikkonen by one point the year prior. Interstingly enough, 2008 was also the last year a team other than Red Bull or Mercedes didn't win the Constructors Championship with Ferrari coming out victorious.

Last year, Max Verstappen had the largest margin % victory in F1 history and for that to be dramatically reduced in 2024 speaks volumes about the quality of vehicle that has been created this year.

Bet On Formula One Races

Formula One races can be vastly unpredictable for bettors. Some races are known for clean racing tracks where incidents are a rarity and the fastest car usually wins while other races are known for being chaotic with multiple retirements and incidents that could lead to surprise victories such as the Singapore Grand Prix

For Formula One races, you can several markets such as the race winner that come with each way odds to cover podium betting. However, most betting markets tend to focus on individual drivers and their performance, you can bet on the first retirement, the car to provide the fastest lap or driver vs driver head to head betting markets.

Most betting markets will be removed at race start but a number of live betting markets are available for those who wish to place bets during a race.

Formula One Betting Strategies

When checking Formula One betting strategies, you'll often find that the strategy depends on the location of the race and the weather. Speed is one of the most important attributes but the track can nullify speed if cars aren't particularly good at cornering or is slower at low speeds.

For example, Monaco is a great example of how betting changes depending on the track. Before qualifying Max Verstappen will likely be the favourite but if Verstappen has any issues in qualifying and starts on the second row, the driver in 1st or 2nd will be the favourite to win due to how difficult it is to overtake in Monaco. Any other race, Verstappen would be expected to fly to the front but Monaco turns F1 racing into almost a different sport.

Meanwhile, the Dutch Grand Prix in 2023 is a prime example of how weather can impact a race. An extremely wet weekend saw the most pit stops by drivers in a single race and bad strategy and unfortunate crashes ruined George Russell's weekend while good strategy saw Esteban Ocon finish on the podium with Alexander Albon of Williams managed to finish in the top 8.

Form also plays a large part in betting strategies, last season it was nonsensical to bet against Max Verstappen, he completed every lap of the season and spent the vast majority of them sat in first place. However, just three races into the 2024 season, Verstappen had a retirement, then he finished in second behind Lando Norris and failed to finish on the podium in three of the next seven races, all of a sudden, the betting strategy indicates that Red Bull might not be the constructor to back with Sergio Perez performing terribly and Max Verstappen slightly off the pace compared to his standards.

When betting on motor racing, it is typically vital that bettors take these aspects into consideration before placing their bets.