It is now just a couple of days until the 2018 Formula One season gets underway, with anticipation for the first Grand Prix in Melbourne growing on daily basis. Bookmakers, of course, have been pricing up the odds for the season from the very moment that Lewis Hamilton landed his fourth F1 Drivers' Championship in Mexico last October.

However, what do the odds tell us about the season ahead? Do the bookmakers know something that the average motor racing fan does not? Below is a guide to the odds from bookmaker Sporting Bet. You can learn more about Sportingbet and why they are good option for Formula 1 free bets and promotions with this 2018 Sportingbet UK review.

Drivers' Championship - Hamilton out on his own (again)

It will be no surprise to learn that Hamilton is once again the short-priced favourite to land his fifth title. He is priced at odds of 6/5, meaning you will double your money with a little change left over if the Brit triumphs this season. Hamilton was available at a similar price last year, so it is understandable that the bookmakers haven't shifted much in their odds-setting.

Sebastian Vettel is given odds of 3/1. Last season wasn't a bad year for Vettel by any means, but he really didn't put the screw on Hamilton when the battle for the title was really heating up. Retirements in Singapore and Japan really cost him. However, he has rightly been made second-favourite and should have plenty of backers to pip Hamilton this term.

The two Red Bull drivers are priced next in the odds, with Max Verstappen and Daniel Ricciardo given odds of 4/1 and 7/1 respectively. Alonso and Bottas are given 16/1, with Kimi Raikkonen at 33/1. Other odds are given as follows:

Carlos Sainz Jnr 66/1, Nico Hukenberg 80/1, Stoffel Vandoorne 100/1, Sergio Perez 150/1 and Esteban Ocon 150/1.

Sporting Bet will give odds of 50/1 for any driver not listed above to win the World Championship if you fancy an upset.

Constructors Championship - value away from Mercedes

Plenty of punters will thing bookmakers have erred in making Mercedes odds-on favourites for the Constructors' Championship. They are currently available at 7/10 to land their fifth title in a row. Still, they were way ahead of Ferrari last season (688 pts to 522) and nearly doubled Red Bull's tally of 368. For that reason, it feels a little bit off that Red Bull have been made second-favourites for the Constructors' title at 333/100. Is there evidence that Red Bull have overcome the issues that saw their two drivers fail to finish a combined 13 times last season?

Ferrari might be where the smart money goes, even if it is an each-way bet. The odds of 7/2 look a little more tempting than Red Bull's, especially given the expected improvements to the Maranello outfit's engine. McLaren, who are widely expected to improve this season, have been give odds of 16/1, with Renault available at 50/1. The other teams' odds are displayed below:

Force India 100/1, Williams 250/1, Toro Rosso 250/1, Haas 250/1 and Sauber 500/1