Things to consider when betting on Formula 1

Whilst the sport has been a massive driver of revenue for decades, the reason for the recent expansion in the Americas has been twofold. Firstly, in 2016, Liberty Media’s acquisition of F1 catapulted the sport to a brand new worldwide audience, and a younger audience, too. Liberty’s marketing vision has seen a huge rise in online engagement across major social media platforms, with their content aimed at the next generation. This has also meant a rise in sports betting in F1, and not just betting on an outright winner, but many other facets of the race and the season as a whole.

Secondly, adding to this exposure was Netflix’s Drive to Survive series, which launched in 2019. The streaming service has made the drivers and team principles household names, and shone a light on the paddock like nothing before. This has helped grow the brand in the US market, with more sponsors and companies desperate to have their names associated with the sport than ever before. It has also led to added races in Miami, and for 2023, Las Vegas too. It’s clear that the USA hopes to capitalise on this new fandom.

The dramatic race factors that can affect the grid also keep fans glued to every race weekend. Team strategy can change wildly during the three-days, whilst car performance (or non-performance), crashes, and even the weather can contribute – it might not be who’s the fastest, but who’s the most reliable that comes out on top.

It’s important to understand all of these things that can influence the outcome of a race before placing your bets. Keep reading to inform your Formula 1 betting ahead of the new season.

Brief overview of an F1 season

In 2023, there will be 23 races, starting in Bahrain and ending in Abu Dhabi. This is the official race calendar below:

F1 Grand Prix race weekend format

Friday – Free Practice 1, Free Practice 2
Saturday – Free Practice 3, Qualifying

Sunday – Race

2022 saw the introduction of the Sprint Race on Saturdays, which pays out points towards both the Drivers’ Championship and Constructors’ Championship. In 2023, there will be six Sprint Races in the calendar.

Things to consider when betting on Formula 1 Futures markets

Overview on betting before the start of the season

–       Previous season’s results

–       Regulation/rule changes

–       Pre-season testing

–       Team news and dynamics/driver line-up changes

Things to consider when betting on a Formula 1 race

Overview on betting on each race

–       Team dynamics and championship standings

–       Driver form and history at circuit

–       Circuit history and previous results

–       Any new mechanical upgrades from teams

–       Circuit layout – e.g. overtaking opponents

–       Weather conditions

Keeping an eye on the weather is especially important when live betting on F1. Races can last up to two hours, and the weather can change dramatically during that time. Temperatures can drop, and rain can start mid-race – all of this can really mix things up. For example, in the 2022 Monaco Grand Prix, Ferrari had both their cars on the front row, but the weather contributed to a whole new race strategy. Sergio Perez, who crashed out in qualifying and started in position 3, ended up winning the race.

Feel informed and ready to make your Formula 1 plays? Check out Pinnacle’s comprehensive F1 odds.