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The fastest cars in the world, glamorous racing locations and the thrilling rivalries of superstar drivers – Formula One has a lot of excitement to offer sports fans. In recent years, high-speed battles between the likes of Lewis Hamilton, Jenson Button and Sebastian Vettel have kept many of us on the edge of our seats. But F1's huge range of markets also make it an attractive, and lucrative, sport for online betters.
So which sites have the most to offer fans of the sport? Here's Gambling.com's guide to online F1 betting.
F1 betting has become highly popular in recent years, with the rapid growth of online betting sites drawing more people to the sport. However, the sheer number of opportunities to place winning bets is undeniably another important factor. Punters can bet on the outcome of a single race (there are 20 Grand Prix events on the calendar) or the championship, which is split into the driver's and constructor's prizes. Add in the practice and qualifying sessions for each Grand Prix, and it's easy to see the appeal of online F1 betting.
Punters must consider a wide range of factors, rather than simply the skill and experience of the driver, before placing their bets. The team dynamic, the performance of the car and even weather conditions at the track all come into play, so make sure you consider absolutely everything before you predict who will spray the champagne at the end of the race.
Most sport betting sites offer punters the standard F1 markets:
Whether the action takes place at Monza or Monaco, Sao Paulo or Silverstone, you should always be able to back your favourite driver.
There are a few sites that are known to go the extra lap for F1 fans. These sites really ramp up the big race excitement by offering special bets and live in-play betting options. Coral Sports is a popular venue for in-play betting on F1, with the race odds updated in real-time to account for unexpected twists. So when the championship-leading driver spins off the track at the first corner, you can be sure the market will adjust accordingly.
Ladbrokes Sports is another online bookmaker with a good reputation for F1 specials, while Paddy Power normally has an attractive range of company and driver betting options for each race. Betfair is a good place to visit at the start of the season, as you'll find plenty of chances to bet on which driver of a particular team will finish the season above his team-mate, as well as predicting which driver and team will clinch the driver and constructors' championship double.
For many fans, the relationship between team-mates is one of the most intriguing aspects of F1. Just think of the duels between Jenson Button and Lewis Hamilton, or Hamilton and Nico Rosberg, that the sport has seen in recent years. If one driver holds a clear lead over the other in the championship standings as the season nears its close, it can get complicated as team bosses intervene to ensure victory for their leading man.
That's why it's important to pick a site that will let you bet on the outcome of individual races (the race winner market) as well as the overall winner – so if you think the team dynamic is likely to change, you can spread your bets across multiple markets.
The sites you can sign up to will depend on your location as each province has its own set of laws regarding online sports betting. The laws are set to change in some provinces, for example, Ontario Sports Betting is set to be legalised. In some cases your only option may be to play with an offshore operator so be sure to check what your options are in advance of signing up with any betting site.
"A passionate sports betting broadcaster and journalist with over 15 years spent in the gambling industry."