Formula One racing is one of the most watched and bet on sports in the world. The season is long, with races taking place all over the globe. But what are your chances of winning? Is Formula One good for betting? Let's find out
How Do You Bet on Formula One Races?
There are many ways to bet on Formula 1 races. You can go into a sportsbook and place your bets in person, or you could use an online betting service like Bet365. They offer some of the most competitive odds because they're able to take advantage of people who live outside their designated area (Betting Laws).
Bets are quite simple. The most common ones are who will win the race, who will be on TOP 3 , who will be on TOP FIVE, as well as other odds and combinations.
There are also a couple of different types of bets that can increase your chance to win:
• Picking three drivers in order (Exacta)
• Picking drivers who finish in a certain position (Trifecta)
• Picker driver who will be on TOP FIVE, but not necessarily finish first
This way you can increase your chances of winning when betting.
The best Formula One bets are made by looking into the stats and history of each driver: their previous performance at that circuit. Very important thing is in which position they finished last year.
There are also other things to take into consideration: the season, how experienced is that driver and who their team mate is if any. The final thing you should look for when making a bet on Formula One motor racing events would be the quality of tires used by each car participating in this particular race. As we all know tires are one of the most significant parts of the racing car.
Based on that, we should also check the team who changed the tires, because their work can save or lose some seconds and in this sport seconds are essential.
A good betting strategy is to follow the Formula One events on a regular basis, learn how much money you can bet and look for special bets. Special bets are offers that will allow you to make profit even in case of lost race. For example if we have two drivers who are equal and they compete between themselves, we can bet that they will receive the same number of points.
What is good about Formula One and betting on this sport, it is that its rules are simple, so you don't need to be an expert in order to understand what is happening.
The most important thing when betting on Formula One racing is knowing how much money can we afford to bet based on our budget. It is the rule for every betting activity, but Formula One is a very exciting sport, especially on the last laps and you might receive a lot of money if you bet right, but you may also lose a lot when you can't set a boundary on how much you are able to spend.
What are the chances of winning in betting on Formula One races?
The chances of winning in betting on Formula One races are not the best, but they exist. The most important thing is to know about your budget and what you can afford. If you have more money than usual for this kind of bets then the chance will be higher, so it's better if you bet when there is a lot at stake.
Moreover, if you are a specialist, you watch Formula One for years, know companies, drivers, their performances and so on, then you will have better chances to win, because your bets will be more accurate.
For amateurs the game might be harder and the chance of winning will be much lower. Sometimes we remember some names of the drivers who were at their best a few years ago, and now younger ones take up their pedestal.
The Biggest Wins in Formula One Betting
The highest amount of money won in Formula One betting is £33,000. This happened in the Grand Prix of Belgium 1994 where Damon Hill won and his odds were 20 to 21.
The highest amount of money lost in Formula One betting is £35 million. It happened at Monaco GP 2000 when Michael Schumacher was leading ahead Jean Alesi with less than a half lap left on the track but he had lost and he was the most favorite driver in the race.
Conclusion
Formula One might have easy rules, but there are many factors of winning or losing that can change and make betting on this game very difficult. Races are exciting and the season is long, so it is worth betting on Formula One. Choose yourself a bookmaker shop, casino or betting agency that provides the greatest service, live sports on site and quite good odds. You can also choose from online betting sites that can have some lucrative bonuses and even better odds to keep their customers.
