Formula One Betting Guide

Whether you’re a die-hard petrolhead or just a casual racing fan, you will already know that Formula One is the most prestigious motorsport in the world. It’s also one of the most popular annual sporting events in the world. There’s a reason why so many people get into F1 betting across the year.

This incredible sport has been popular since its genesis in the 1950s and is continuing its world-touring racing in the 2020s. This year, with a never-before-seen 24 races, the season already promises to be ground-breaking.

With 20 drivers across 10 different teams, there’s certain to be some serious drama off and on the race track.

Who will win? Who’ll snag the pole? And, of course, who will be the 2024 Formula One World Champion?

Formula One betting: a brief history

Formula One betting is actually a much newer phenomenon than the sport itself. Formula One officially began back in 1950, with the first-ever World Championship for Drivers held by the Fédération Internationale de l'Automobile (FIA).

The first race was, of course, held in the world-famous, fan-favourite racing town of Silverstone in the UK and was won by Giuseppe Farina in an Alfa Romeo.

It’s fair to say that Formula One has always been popular. In fact, at the very first race in 1950, more than 120,000 people attended, including one very important spectator, King George VI!

Formula One’s popularity has only risen since then, most recently with the emergence of the hit Netflix show Drive to Survive. In 2023, Formula One averaged over a million viewers per race. This makes it one of the most viewed sports in the world – all the more reason why F1 bet odds have surged in popularity.

F1 betting odds: what’s available?

Let’s take a look at some of the F1 betting markets opening up for you across the new season.

Drivers’ championship

One of the most popular bets in F1 is, of course, that of the [outright winner of the season]/betting#event/1020127300) – this is where you choose who you think will take the overall World Championship home. For example, you could bet on Max Verstappen to be the world champion, or you might think Lewis Hamilton stands a chance.

Constructors’ championship

Right next to the drivers’ championship is the constructors’ championship. Bet on which team you think will come out on top. For example, you could bet on Ferrari to win, or Red Bull, or Mercedes. It’s worth taking a look at the roster.

Winners of specific races

You don’t always have to focus on who will win the whole championship! Some of the most popular betting odds F1 fans look for focus on specific races. For example, you could bet on Charles Leclerc winning the opening race in Bahrain.

Pole position

Any Formula One fan knows that the races themselves aren’t everything. Qualifying plays a huge role in how the races will turn out, as this is where it’s decided how drivers will line up for the big day.

You can even bet on who you think will get the pole position in qualifying! Who says that all the action’s in the main race?

F1 betting season: what’s coming up?

The 2024 F1 betting calendar begins in Bahrain and ends in Abu Dhabi, and this extra-long season will last from 29th February all the way to 8th December.

Given that there are more races this year than ever, you may be wondering which tracks are new to the F1 world.

After a four-year absence, China is finally returning to the ‘haute-racing’ world in mid-April for the Shanghai Grand Prix.

Otherwise, all of last year’s races will return from 2023 for the 2024 season – a good chance to brush up on form and check out some F1 bet odds!

Formula One betting: 2024 season fixtures

As always, the F1 calendar takes fans, drivers, cars, and constructors all over the world. It’s a motoring feast of 24 races – and here are the dates you’ll want to keep in clear mind for the season ahead.

As always, stick with LeoVegas closer to the time for up-to-date F1 betting odds.

F1 betting: who are the most recent winners?

Max Verstappen is the most recent Formula One World Champion at the time of writing. At only 26 years old, this Red Bull racing driver has been a Formula One world champion three times so far!

Before his championship trifecta, though, Lewis Hamilton was the golden boy of Formula One. He won in 2020 and has accrued another six world championships, making him tied with F1 legend Michael Schumacher for the most F1 championships won.

Other famous drivers worth keeping an eye on include Charles Leclerc and Carlos Sainz for Ferrari, Lando Norris for McLaren, and George Russell for Mercedes.

Who is Max Verstappen, and why do people look for him in F1 betting odds?

Max Verstappen is the current Formula One world champion, and it’s nothing new for him! As noted above, at 26 years old, this talented driver has already been Formula One world champion three times, beating the best of the best in motorsports and former reigning champion Lewis Hamilton.

He’s the son of former F1 driver Jos Verstappen, and it’s safe to say that he’s making his dad proud thus far.

So, this coming Formula One season, all eyes will be on Verstappen! Will he be able to take home yet another F1 world championship, or will this Belgian-Dutch racing driver get a stark awakening on the track?

Which other drivers are worth watching during F1 betting?

Naturally, Max Verstappen stands out as the current F1 world champion, but this is no reason to take the others out of consideration. After all, Verstappen has some serious competition this year.

One man who no one will soon count out is seven-time world champion Lewis Hamilton. He has more than proven himself in the sport, and it seems as though his fighting spirit is still burning bright and ready to return stronger than ever.

His teammate, George Russell, is definitely not playing second fiddle, either. This young British driver quickly made a name for himself in the sport and has proven time and time again that he has earned his place with the big boys and is more than ready to take home his first championship.

The same applies to Charles Leclerc and Carlos Sainz. Both are Ferrari’s much-loved drivers and have more than put in the work to make it to the top. But which one, if either of them, will be able to dethrone Max Verstappen?

Other Formula One betting types available

As mentioned, there are more than a few different ways for you to get into F1 betting. Many people, for example, choose to bet on their favourite teams or constructors. Given that Verstappen is such big news right now, it’s only reasonable that Red Bull is riding high in the odds.

However, never count out Ferrari or McLaren! Take a look at the latest F1 betting odds at LeoVegas and see if your team takes home the spoils.

FAQs

Can you bet on F1?

Yes, you can absolutely bet on Formula One. As mentioned above, there is a lot to bet on, from qualifying and the races to the drivers, constructors and each one’s championship.

How to bet on F1

At LeoVegas, betting on F1 is straightforward – it’s all about finding a market and placing a bet! Create an account with us, make a deposit and search for For(mula One. Then, choose the race, driver and/or team you’re betting on and place your bets. Remember to set healthy limits.

Where can I bet on F1?

This year, you can bet on every F1 race, driver and championship with LeoVegas. Head to our main sportsbook or download our app, where you can browse all the latest odds, place your bets and cheer on your favourites.

Can you bet on F1 races?

Yes – you can bet on individual races as well as drivers and teams in specific races or the overall championship. Keep checking LeoVegas for the latest F1 betting odds.