Getting into the Formula 1 Odds
Formula 1 is the most popular racing league globally, which is why it receives the most bets. Formula 1 is relatively easy to bet compared to other racing leagues because it’s dominated by the top teams, and there are only 20 drivers.
There are only six drivers in any given race that have a realistic chance of winning. This helps you if you are looking to bet on Formula 1. The one thing you must understand is how to read Formula 1 odds.
How to Read F1 Odds
Formula 1 odds are straightforward to read because there are no point spreads. Point spreads are the toughest concept to understand in sports betting, and it’s nonexistent in Formula 1 betting. The main things you will bet in Formula 1 are the winner and who will be on the podium.
There are various prop wagers in Formula 1, but the primary bets are made on the position of the driver in the F1 standings and team winners. This is a form of a money line wager so that all odds will be numerical with a +/- sign.
The favorite will have the lowest odds on the starting grid. These will likely be negative odds or positive odds that are low. For example, the favorite in a F1 race may be -105, and the projected second-place finisher is +105.
The payout difference on a $100 wager would be less than a $10 difference.
Formula 1 Example
Lewis Hamilton and Max Verstappen are the two best drivers in Formula 1. Hamilton is projected to win the race, and he is -110. Verstappen is starting second, so his odds are slightly higher at +110.
You can tell Hamilton is favored because he has the lowest odds in the race. You will not receive as much betting the same amount on Hamilton as Verstappen. This is important to remember when placing money line bets.