Formula 1 betting perhaps isn’t the most popular of sports for bettors to go for, especially when compared to global betting focuses like the English Premier League.
However, WeCompareOdds research shows that there are still lots of betting opportunities available in this sport. The Formula 1 industry is huge, and money is regularly poured into the sport’s advertising budget to build a strong fan base: earlier this year, for example, it was revealed that star driver Lewis Hamilton alone could earn £40m in sponsorship deals.
As a result of the sport’s high profile, it’s no surprise to find bookmakers responding by providing a vibrant betting scene – with lots of opportunities for bettors to try their luck.
The most popular of the Formula 1 betting types is moneyline, where bettors select a driver who they believe will win. It’s also possible to bet on niche events such as whether or not a safety car will run during a specific race, while long-term futures bets – such as who will win the 2019 Hungarian Grand Prix – are also available to those who are happy to tie up their deposits up for a long time.
In terms of the leagues and competitions on offer, different betting sites have different ranges. At Bet365, for example, it’s only possible to wager on which driver will be the outright winner of a particular race. At SkyBet, on the other hand, odds are offered on the best performer out of individual driver pairs (such as Lewis Hamilton and Valtteri Bottas, or Fernando Alonsono and Stoffel Vandoorne).
The increased role of technology in Formula 1 betting has also created new opportunities for bettors. Some platforms now offer virtual motor races – so it’s possible to bet even when there’s no real-world race currently being (or about to be) played.