Betting on Formula 1 Racing
Call it Formula One, Formula 1 or even F1 Racing, it’s still arguably one of the top series of races available (if not the top). Seeing specialized Formula 1 cars zoom by at speeds in excess of 200 miles per hour in the various races is certainly exciting. However, some feel it needs something “extra”. That something extra comes in the form of a friendly bet on a Formula 1 race.
Before placing a bet on a Formula 1 race, always check to make sure it’s legal. Some countries don’t care about your F1 racing bets. Others are fairly strict toward any sort of racing bets. While other places have gambling laws so ill defined thus encouraging people to go to online sites or the local bookie for bets.
As you probably know, the Formula 1 championship is a series of auto races. You can bet on the overall winner (the results from all the races are used to determine a winner). Bet on the winner of each race or any number in between, it’s all allowed. Truth be told, betting on Formula One is similar to NASCAR betting. This means in addition to betting on the winner driver, betting on the winning constructor (or car make) is another option. A constructor is the owner of the rights to the engine and chassis. So you could make a winning bet on Ferrari winning the constructor title.
Despite the unusual nature of betting on a company like Ferrari or Honda to win, Formula 1’s other racing bets are fairly typical. Betting on placement, failure to finish, failure to win, or even results among two drivers is allowed.
Just like with most sporting events, if something might happen, then you can find someone willing to bet against it.
The Formula 1 race odds are easy to understand. Usually the odds are fractional. For example, Lewis Hamilton is favored to win and has 1 to 4 odds. This means a wager of $40 is needed to win $10. However, an underdog may have odds of 100 to 1. Here, a winning Formula 1 bet pays $1,000 on a $10 bet. Moneylines are used as well to show payoffs. A moneyline of -145 for Lewis Hamilton means you must bet $145 to win $100. On the other hand, an underdog with a moneyline of +300 pays out $300 for every winning $100 bet.
So whether you want to bet on the overall F1 winner, the individual races, or some bet in between, there should be wager for you. So gentlemen (and ladies), start your betting!
