Formula 1 is one of the most successful and popular sports on the planet with huge numbers of fans tune into each and every race wherever and bookmakers offering great free bets throughout the season.
Consequently, F1 betting is massively popular with punters and fans on the look out for the best Formula 1 odds and offers for each Grand Prix.
If you are looking to increase the excitement and enjoyment of your Formula 1 betting throughout the 2023 season you are in the right place!
Formula 1 Betting Offers and Enhanced Odds
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Best Formula 1 Betting Markets
The leading bookmaking brands offer a plethora of race day F1 betting markets and if you have a Formula 1 tip, you are sure to be able to bet on it.
Markets include:
- Race Winner
- Podium Finish
- Top 6 Finish
- Points Finish
- Fastest Lap
- Both Team Cars Points Finish
- Race Winning Margin
- Individual Driver to Be Classified
- Nationality of the Winner
- First Constructor Retirement
- Grid Position of the winner
- Number of Classified Finishers
- Safety Car Appearance
How to Bet on Formula 1
You will find Formula 1 betting markets listed in the main menu of all major online sportsbooks.
Throughout the year the F1 World Championship markets will be on offer and as race weekends draw closer markets on F1 races will appear. Placing a bet on Formula 1 tips is reasonably straightforward, little different to football with several ‘markets within markets’.
How Formula 1 Works
The Formula 1 season, which runs from March 5 to November 26 in 2023 and consists of 23 races all of which are staged on a Sunday. If you are in the UK some races may be live at odd times such as Australia or USA.
Beforehand there are two practice sessions on the Friday, a third practice session on Saturday followed by a qualifying session later or sprint race that day. This completes a ‘Formula 1 weekend’.
The Formula 1 Drivers Championship, F1 betting’s ongoing ante-post betting market, is decided by points drivers acquire at each race. The winner receives 25 world championship points, the runner-up 18, third gets 15, fourth 12 and this continues down to tenth where a single point is awarded.
In addition to the Drivers & Constructors Championships there are Formula 1 betting opportunities on the outcome of practice sessions, qualifying sessions and a host of Formula 1 odds on race markets and stats markets such as the number of race finishers.
Formula 1 Schedule 2023
Formula 1 betting odds are available on all of the season’s races and they become available within days of the previous race being completed. Making your Formula 1 predictions long before the race can prove fruitful especially for Formula 1 betting specialists who know what circuits will play to individual teams strengths.
| Race | Location | Date |
|---|---|---|
| Bahrain Grand Prix | Sakhir | 5 March |
| Saudi Arabia Grand Prix | Jeddah | 19 March |
| Australian Grand Prix | Melbourne | 2 April |
| Azerbaijan Grand Prix | Baku | 30 April |
| Miami Grand Prix | Miami International Autodrome | 7 May |
| Emilia Romagna Grand Prix | Imola | 21 May |
| Monaco Grand Prix | Monte Carlo | 28 May |
| Spanish Grand Prix | Barcelona | 4 June |
| Canadian Grand Prix | Montreal | 18 June |
| Austrian Grand Prix | Spielberg | 2 July |
| British Grand Prix | Silverstone | 9 July |
| Hungarian Grand Prix | Budapest | 23 July |
| Belgian Grand Prix | Spa-Francorchamps | 30 July |
| Netherlands Grand Prix | Zandvoort | 27 August |
| Italian Grand Prix | Monza | 3 September |
| Singapore Grand Prix | Marina Bay | 17 September |
| Japanese Grand Prix | Suzuka | 24 September |
| Qatar Grand Prix | Losail | 8 October |
| United States Grand Prix | Austin, Texas | 22 October |
| Mexico City Grand Prix | Mexico City | 29 October |
| Brazilian City Grand Prix | Sao Paulo | 5 November |
| Las Vegas Grand Prix | Las Vegas Strip Street Circuit | 18 November |
| Abu Dhabi Grand Prix | Yas Marina | 26 November |
Formula 1 Predictions & Tips
It is going to take something special from one of the other drivers and their team to wrestle the Drivers Championship away from Lewis Hamilton.
You won’t win particularly big from a bet on Hamilton at heavy odds on but you’ll win more than betting on any other driver as he is the most likely winner by some distance.
There are still plenty of other chances to win from the F1 season with our individual racing bets and odds throughout.
Formula 1 Live Streaming
Sky Sports are the title broadcaster of F1 and if you subscribe to that channel’s sports package you can watch and bet Formula 1 in play streamed to your mobile device.
You can also subscribe to Formula 1’s dedicated website which has live streaming and some outstanding live data feeds- which is a brilliant aid to people who enjoy Formula 1 betting in-play.
Formula 1 Recent Winners
Lewis Hamilton has won just over half of all Formula 1 races since the start of 2014. His teammates, originally Nico Rosberg and now Valtteri Bottas, have taken a large share of the remainder.
Ferrari’s Sebastian Vettel and Red Bull’s Max Verstappen and Daniel Ricciardo (a Renault driver since the start of 2019) have picked up the odd race winning crumb.
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The first five races of 2019 were all Mercedes 1-2 finishes …and yes Formula 1 betting does allow for forecast betting!
The most recent winning Drivers and Constructors World Champions…
- 2022 - Max Verstappen / Red Bull
- 2021 – Max Verstappen / Mercedes
- 2020 – Lewis Hamilton / Mercedes
- 2019 – Lewis Hamilton / Mercedes
- 2018 – Lewis Hamilton / Mercedes
- 2017 – Lewis Hamilton / Mercedes
- 2016 – Nico Rosberg / Mercedes
- 2015 – Lewis Hamilton / Mercedes
- 2014 – Lewis Hamilton / Mercedes
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Formula 1 Betting FAQs
What is the best type of F1 bet?
The markets on the race winner is rarely anything other than accurate but there is a ‘horses for courses’ concept in Formula 1 which means markets such as ‘Fastest Lap’ is often incorrectly priced-up on recent results meaning this market often features some good value F1 betting odds.
When is the best time to place Formula 1 bets?
Most Formula 1 tipsters who do a lot of research on the sport will tell you the best time to place your bets is on the Tuesday before race weekend when the Formula 1 betting odds are first advertised and often feature mistakes and discrepancies which can be exploited.
What’s the best Formula 1 betting advice?
Definitely subscribe to all drivers and Formula 1 team’s Twitter feed which often helps you get the latest F1 news and you can often act on it before online bookmakers get time to react to things - such as a car which is set to start a race with a grid penalty.
Should you play race markets each-way?
Following qualifying there is often an odds-on favourite in the race win market and that leads bookmakers to only offer places 1-2 as part of their each-way terms. Therefore, do play Formula 1 betting markets each-way but only at the start of a race weekend when positions 1-2-3 are paid out as winners.
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