Formula 1 Betting Guide 2024

Posted by James Guill . Last updated:

As the sport grows in popularity, Formula 1 betting is an increasingly popular sports betting market for US players. After the action went down to the final lap of the season, the 2024 season is the most hotly anticipated F1 season yet! Read on for the beginner’s guide to Formula 1 betting including bet types, expert strategy, and our Formula 1 2024 odds and preview.

Best Formula 1 Betting Sites for US Players

Our resident experts have reviewed all the top Formula 1 betting sites around. Here are our top recommendations for players in the US:

How to Pick a Formula 1 Betting Site

Here are the most important things to look for when choosing a Formula 1 betting site:

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Availability of Markets

Although there are a plethora of sports betting sites available to players in the US, Formula 1 betting is a relatively new market for some sportsbooks. Always make sure to see if a sportsbook offer Formula 1 odds which may be listed under ‘Motorsports’.

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Availability of Deposit Methods

Here at Gamble Online, we always recommend sportsbooks which offer a wide range of deposit methods. We believe that it’s important that players can deposit and withdraw their winnings using their favorite, convenient banking method. We also recommend using Bitcoin for online sports betting and using Bitcoin has never been simpler.

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Mobile Device Friendly

In 2024, you should be able to place your bets on Formula 1 whenever and wherever you are. When writing a sportsbook review, our experts check the mobile version of an online sportsbook to ensure that the mobile sports betting experience is top notch.

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Variety of Betting Markets

Since Formula 1 betting is still growing in popularity, some online sportsbooks may only have limited betting options. At the very least, a sportsbook should offer futures on the World Drivers’ Championship, the World Constructors’ Championship, and the winners for each grand prix. The best Formula 1 betting sites, however, will allow bettors even more options, including a variety of prop bets.

Formula 1 Odds 2022 Driver Odds & Race Calendar

After the thrilling conclusion to the 2021 season, Formula 1 is set to return to action in 2022 with a host of new fans and interested sports bettors. Formula 1 will look slightly different in 2022 as there will be a host of technical upgrades to the cars. After last season, Formula 1 bade farewell to former World Champion Kimi Räikkönen who retired after 19 seasons.

The 2022 Formula 1 season began in March with the Bahrain Grand Prix. The United States will also host its second grand prix: the Miami Grand Prix was held in May with the US Grand Prix in Austin in October. Here is the current calendar for the 2022 Formula 1 season:

Grand Prix Host Country Date Previous Winner 2022 Winner
Bahrain Grand Prix 🇧🇭 Bahrain March 20 Lewis Hamilton (2021) Charles Leclerc
Saudi Arabian Grand Prix 🇸🇦 Saudi Arabia March 27 Lewis Hamilton (2021) Max Verstappen
Australian Grand Prix 🇦🇺 Australia April 10 Valtteri Bottas (2019) Charles Leclerc
Emilia Romagna Grand Prix 🇮🇹 Italy April 24 Max Verstappen (2021) Max Verstappen
Miami Grand Prix 🇺🇸 USA May 8 Debut Race Max Verstappen
Spanish Grand Prix 🇪🇸 Spain May 22 Lewis Hamilton (2021) Max Verstappen
Monaco Grand Prix 🇲🇨 Monaco May 29 Max Verstappen (2021) Sergio Pérez
Azerbaijan Grand Prix 🇦🇿 Azerbaijan June 12 Sergio Pérez (2021) Max Verstappen
Canadian Grand Prix 🇨🇦 Canada June 19 Lewis Hamilton (2019) Max Verstappen
British Grand Prix 🇬🇧 UK July 3 Lewis Hamilton (2021) Carlos Sainz
Austrian Grand Prix 🇦🇹 Austria July 10 Max Verstappen (2021) Charles Leclerc
French Grand Prix 🇫🇷 France July 24 Max Verstappen (2021) Max Verstappen
Hungarian Grand Prix 🇭🇺 Hungary July 31 Esteban Ocon (2021) Max Verstappen
Belgian Grand Prix 🇧🇪 Belgium August 28 Max Verstappen (2021) Max Verstappen
Dutch Grand Prix 🇳🇱 Netherlands September 4 Max Verstappen (2021) Max Verstappen
Italian Grand Prix 🇮🇹 Italy September 11 Daniel Ricciardo (2021) Max Verstappen
Singapore Grand Prix 🇸🇬 Singapore October 2 Sebastian Vettel (2019)
Japanese Grand Prix 🇯🇵 Japan October 9 Valtteri Bottas (2019)
United States Grand Prix 🇺🇸 USA October 23 Max Verstappen (2021)
Mexico City Grand Prix 🇲🇽 Mexico October 30 Max Verstappen (2021)
São Paulo Grand Prix 🇧🇷 Brazil November 13 Lewis Hamilton (2021)
Abu Dhabi Grand Prix 🇦🇪 UAE November 20 Max Verstappen (2021)

Here are the drivers who are set to compete for the 2022 World Drivers’ Championship and their Formula 1 odds for the World Driver’s Championship at the start of the 2022 season. Odds courtesy of Bovada.

Team Driver Nationality Odds
Alfa Romeo Guanyu Zhou 🇨🇳 China +100,000
Alfa Romeo Valtteri Bottas 🇫🇮 Finland +50,000
AlphaTauri Pierre Gasly 🇫🇷 France +20,000
AlphaTauri Yuki Tsunoda 🇯🇵 Japan +50,000
Alpine Fernando Alonso 🇪🇸 Spain +6,600
Alpine Esteban Ocon 🇫🇷 France +10,000
Aston Martin Sebastian Vettel 🇩🇪 Germany +15,000
Aston Martin Lance Stroll 🇨🇦 Canada +25,000
Ferrari Charles Leclerc 🇲🇨 Monaco +550
Ferrari Carlos Sainz 🇪🇸 Spain +1,200
Haas Kevin Magnussen 🇩🇰 Denmark +75,000
Haas Mick Schumacher 🇩🇪 Germany +75,000
McLaren Daniel Ricciardo 🇦🇺 Australia +4,000
McLaren Lando Norris 🇬🇧 UK +1,200
Mercedes Lewis Hamilton 🇬🇧 UK +135
Mercedes George Russell 🇬🇧 UK +550
Red Bull Max Verstappen 🇳🇱 Netherlands +275
Red Bull Sergio Pérez 🇲🇽 Mexico +6,600
Williams Nicholas Latifi 🇨🇦 Canada +100,000
Williams Alexander Albon 🇹🇭 Thailand +25,000

Formula 1 2021 Recap

The 2021 season was one of the most exciting seasons that Formula 1 fans have ever seen. Lewis Hamilton and Max Verstappen traded wins (and even blows between their race cars) all season to reach the final race, the Abu Dhabi Grand Prix, level on points.

After winning pole position in qualifying, Red Bull’s Max Verstappen struggled in the early going as Mercedes’ Lewis Hamilton dominated the race in the United Arab Emirates. The walls of the Yas Marina Circuit created plenty of problems as Williams’ Nicholas Latifi crashed in lap 53. After controversy surrounding the withdrawal of the safety car, Verstappen stormed past Hamilton to win his first ever World Drivers’ Championship.

Although the conclusion of the race, and ultimately the season, was highly controversial, the 2021 season was definitely thrilling! The 2022 season will surely be required viewing for all fans of Formula 1 betting!

How to Sign Up at Formula 1 Betting Sites

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Register

After picking an online sportsbook, you will need to make an account. This is normally a quick process which requires basic details such as your name, email address, and a password.

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Deposit

Once your account is set up, your next step is to make your first deposit. Navigate to the sportsbook cashier and choose your preferred deposit method. Make sure to check to see if there are any available bonuses!

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Lights Out!

You’re now ready to place your bets. Check out the Formula 1 odds and play today!

Formula 1 Bet Types

As Formula 1 betting grows in popularity in the US, more and more bet types are available to bettors than ever before. Here are some of the most common F1 betting markets you can find:

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Outright Race Winner

The simplest bet type: which driver will win the race. Depending on how the season goes, multiple drivers may have similar odds to win the race. If the 2021 season is anything to go by, Lewis Hamilton and Max Verstappen may be joint favorites for many of the early races in 2022.

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Place Betting

If the odds on the race winner aren’t as attractive, why not look at place betting. You can bet on whether a given driver will end the race in a certain position. For example, you could bet on whether Lando Norris will finish on the podium (top 3) or if Mick Schumacher can make it into the top 10.

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Head to Head Betting

If you’ve ever watched Netflix’s Drive to Survive, you know F1 is all about the rivalries and competition – even between teammates! In head to head betting, you can bet on whether a given driver will finish the race ahead of another. For instance, you could bet on which of the Ferrari duo of Charles Leclerc and Carlos Sainz will finish highest on the grid.

 

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Pole Position

The Formula 1 betting action isn’t limited to the race itself. The race weekend also includes qualifying races to determine the starting order for the grand prix itself. Qualifying is an intense process where drivers push their cars and themselves to the limits to clinch the all-important pole position. Naturally you can also bet on which driver will capture pole position at qualifying.

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Formula 1 Betting Futures

If you’re looking for Formula 1 betting action during the off-season, futures are the way to go. Who will win the 2022 World Drivers’ Championship? Who will win the 2022 World Constructors’ Championship? You can already place your bets on Max Verstappen retaining his title or Lewis Hamilton winning an historic eighth title.

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Formula 1 Betting Props

Prop bets can cover literally any aspect of the race that we haven’t already covered. Will there be a safety car? Which nationality will the winning driver be? Will a given driver complete the race? These are some of the newest Formula 1 betting markets, so check your favorite sportsbook to see if they have any interesting prop bets.

Formula 1 Betting Strategy

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Do Your Research

If you’re new to Formula 1 betting, we recommend you do your research before getting started. Learn about the drivers, the tracks, and even the weather conditions.

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Watch Qualifying

Qualifying will give you a good idea of which drivers will perform well on Sunday. If a driver struggles during qualifying, they probably aren’t the best bet for race winner.

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Bet Smart

If you want to make money in Formula 1 betting, you will want to diversify your bets. Although race winner is the easiest bet to make, the odds might not be great. Place betting is a great bet type as it’s more exciting and you can win more!

Formula 1 Betting Tips

If you’re new to Fomula 1 betting, it can be tricky to learn what factors to consider when placing your bets. Here are our top tips for researching Formula 1 odds and placing your bets:

Research the Top Drivers

While Lewis Hamilton and Max Verstappen are household names, the Formula 1 grid consists of some of the top race car drivers in the world. If you’re looking at place betting, you should take look to see which drivers consistently finish in the top 3 or top 5. There are better odds in these markets and therefore more money to win!

Research the Tracks

Although F1 is constantly expanding to new tracks, many of the courses are tried and true. This also means that you can research which driver performs best. Whether they have home field advantage (Hamilton at Silverstone or Verstappen at Zandvoort), or they have multiple wins at the track. Past performance is absolutely something you should take into account.

Check the Weather

Formula 1 race cars are some of the most sophisticated vehicles in the world but the weather can absolutely affect them. Whether it’s the torrential rain in the Ardennes in Spa or the Texas heat at Austin, the weather can affect driver and vehicle performance.

Formula 1 Betting FAQs

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