F1 Betting: How it works for beginners

Discover the world of F1 betting and get some quick tips from Paddy…

f1 betting

By / Guides / 4 months ago

F1 betting has never been so exhilarating thanks to the vast number of live F1 bets you can make here at Paddy Power. The sport has entered a new dimension in recent years as technology gives fans even closer access to the cars and drivers.

With that comes the power to bet on more things. Whether it be fastest laps, head-to-heads or betting on a driver not to finish, Paddy’s got you covered.

If you’re new to Formula One betting then we’re also here to help. This guide will take you through the F1 bet basics so you’ll know how to get started before the next Grand Prix. Learn how to sign up to an account, what bets are worth keeping an eye on, and get some F1 betting tips from our experts!

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How to bet on F1

Betting on F1 starts with signing up for a Paddy Power account. Here’s how to do it:

  1. Sign up: Sign up here or download the Paddy Power app to get started. You’ll need to enter your personal details and provide an email, phone number and password. This ensures your account is fully protected. Set a deposit limit to help stay in control of your gambling too.
  2. Make a deposit: Once you’ve created an account, head to the deposit page to make your first payment. You can set deposit limits and remember you may need to deposit a minimum amount in order to trigger a welcome bonus.
  3. Find the F1 bets: Now armed with a charged account, head back to the Paddy Power sportsbook and either search for F1 in the search bar, or click on the Formula 1 tab. You’ll be taken to all our latest F1 bets.
  4. Pick a bet: Scroll through the bets until you find one that catches your eye. It might be a bet on who will win the F1 Drivers’ Championship. Or it might be a Grand Prix bet, maybe backing a driver to make the podium at the next race.
  5. Place your bet: Click on the odds of your chosen bet to add it to your bet slip. Then enter your stake in the slip to see how much you stand to win. If you’re happy with the risk and potential return, hit Place Bet to complete the process.

f1 betting

Remember, if you trigger a Paddy Power welcome bonus then you might need to bet a certain amount, and above a certain odds minimum, to activate the bonus. Read about the Paddy Power promos here!

Top F1 bets

Now we know how to bet on F1, it’s time to look at the types of wagers available in Paddy’s sportsbook. Below is a list of the most common bets placed before and during races. We’ve split them between outright and grand prix betting to make it a little more understandable:

Grand Prix F1 bets

All grand prix F1 bets focus on individual races, and usually come live two weeks before the action starts. You can either bet in the pre-race markets or jump into the live odds while the race is underway. Here are the main F1 GP odds:

  • Race winner: Bet on which driver you think will win the race. It’s the most popular bet in F1.
  • Podium finish: Back a driver to finish in the top three and earn a spot on the podium.
  • Top 10 finish: Drivers score championship points if they finish in the top 10 of F1 races and you can bet on them to achieve this.
  • Team of winning driver: There are two F1 drivers per team and you can bet on which team will deliver a winning car.
  • Pole position: Bet on who grabs pole position for the race during qualifying by setting the fastest time over the three sessions.

Outright F1 bets

Outright bets look at the course of a season and are better for long-term bettors. Here are some of the most common:

  • Drivers’ Championship winner: Bet on which driver will be F1 champion come the end of the season.
  • Constructors’ Championship winner: Teams also earn points when their drivers finish in the top 10 of races. Back a team to win the constructors’ title at the end of the season.
  • Betting without: If one team or driver is dominating the season then you can ‘bet without’ and back the next-best team or driver to top the championship.
  • Overall H2H: Bet on a driver to outscore a rival over the course of a season. This is often a good bet when both drivers are from the same team.

F1 betting tips

Formula One betting can feel a little daunting at first. An entire race weekend takes three days to complete, from Friday practice sessions and Saturday qualifying, through to Sunday’s actual race. What’s more, some weekends also include a Sprint Race on the Saturday that only heightens the excitement.

Here are a few quick F1 betting tips for beginners looking to get started in the sport:

  1. Stick to a budget

It doesn’t matter what you bet on, make sure you set a budget and stick to it. Never bet what you can’t comfortably afford and always check the risk on your bet slip before hitting ‘Place Bet’.

  1. Side with consistency

F1 betting is as much about the cars as it is the drivers. The sport’s rule makers try to make it an even playing field, but realistically there are always some cars that are faster than others. So, if a driver is constantly notching up race wins and podiums, then they will probably do the same this weekend too.

  1. Study the track

That being said, some racetracks are better for some cars than others. For example, a car built for raw speed will thrive in the desert tracks of Saudi and Bahrain. A nimbler car, though, could outperform the others in street circuits like Singapore and Melbourne.

  1. Watch qualifying closely

Qualifying tells us a lot about how well cars will perform lap after lap. In street circuits where overtaking is difficult – such as Monaco – qualifying is the only real gauge that can guide you in how the grand prix will pan out. So, if a driver is struggling to handle their car in qualifying then they’re probably going to have a bad day the next day too.

f1 bets

  1. Follow the also-rans

F1 betting isn’t all about the winner and podium chasers. There is a lot of value to be had in betting on the back of the pack. These drivers are just happy to get round in one piece. You can bet on them to finish the race or push for higher odds and bet on them to score a top 10 finish.

  1. Head to heads are worth doing

The H2H markets at Paddy Power are ideal for following an entire race and monitoring two drivers. Keep an eye on them in qualifying and see which one can handle the circuit better.

  1. Be wary of crashes

Crashes can occur at any stage of the race and cause dramatic changes to the leaderboard. If the yellow flag is waved then no overtaking is allowed, so cars often bomb into the pits to throw on new tyres. Crashes can kill a race leader’s 30-second lead over second place, and bunch up the pack. So, when betting, always beware than a crash could ruin your wagers. Conversely, you could speculate with a small stake on second place winning the race, and hope for a crash that brings the front driver back into the mix.

  1. Trial live bets

If you’re new to live F1 betting then it’s worth trialling a few in-play wagers before actually placing one yourself. You can do this by effectively simulating a bet in your head. Midway through a race, find a market you would like to bet on and mentally allocate a stake to it. Watch until the end of the race and see if you would have won or lost. Was the bet worth it? Do this process a few times so you get mentally used to live betting before risking a stake yourself next time.

Want to know more about betting on F1? Check out these guides:

THE PADDY POWER GUIDE TO RESPONSIBLE GAMBLING – EVERYTHING YOU NEED TO KNOW

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