Formula One betting has become a popular option with many motor racing fans, and with odds now offered at most of the web's top sportsbooks this form of wagering has undergone many changes. F1 betting was previously rather limited, but by entering the virtual sphere punters are now able to place bets on multiple different facets of the race, the drivers and the teams.

No longer is F1 betting limited to predicting who will be on pole position, who will be first past the chequered flag or which driver will have the most points at the end of the season to claim the championship. There are now a huge number of variables that can be wagered on in every race and season.

The fact that F1 racing is seasonal made it a less popular option in the days before online betting was available, but with fans now able to enjoy similar wagering style entertainment at casinos like River Belle in the off-season, it's easy to get a wagering fix all year round. Online bookmakers have had a major influence on the popularity of wagering on F1 races and have largely changed the face of a sport that attracts millions of viewers around the world.

Many sports betting entities have also capitalised on the increased interest in wagering on races, drivers and teams and have used the F1 circuit as an advertising arena for their brands, attracting even more people and expanding the betting audience on a global scale.

Sports' betting on F1 races has also seen fans become more involved in the sport and interest in pre-season testing, new regulations affecting mechanics and tyres and driver fitness are all garnering large amounts of attention. These factors all influence the odds and make the sport very unpredictable, and the returns on winning wagers relatively high.

As rule changes and new engines and technology come into effect, predicting an outcome becomes harder and past performances have less impact on current results. It's the challenge of accurately picking the correct outcome, combined with the availability and ease of use that online sports books offer that has made F1 betting a far more common and enjoyable activity than it has ever been in the past.