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Best Formula 1 Betting Odds Comparison 2024

The Greatest Formula 1 Betting Odds Comparison

Last Updated on 29/05/2024
Fact checked by: Jesse M Cox

While Formula 1 may have had its start in the 1950’s it has taken some time for it to develop into the world-famous sport that it is today.

Now that Formula 1 has become so popular, it really comes as no surprise that there are plenty of punters who like to place wagers on every weekend race that comes around. Our F1 odds comparison guide will show you why having multiple sportsbook options can improve your overall F1 betting winnings. So, keep reading to learn more.

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How an F1 odds comparison can help you on your way to betting glory

If you don’t know by now, using an F1 odds comparison tool is a fantastic way for you to potentially increase your betting winnings, provided you make the right choices with your wagers. Either way, using an F1 odds comparison gives you a larger pool of the best Formula 1 betting odds to choose from. Where having too many options can sometimes be a bad thing, it couldn’t be further from the truth in this case. Having more options for Formula 1 odds is only going to give your betting endeavors that added edge that they have probably been missing up until now.

Here at GamblingGuy US, we have an F1 odds comparison tool for you to use that is going to make finding the best F1 odds every race weekend so much easier. You’ll be able to pick and choose at will from a wide range of the best F1 odds that are available right now. We don’t just provide you with the best Formula 1 odds though as we can also get you onto the path to finding the best golf betting odds and the best politics odds as well.

Online vs. Offline: find the best F1 betting odds with online sportsbooks

Offline betting establishments have been the staple for over a hundred years. People still feel an attachment to heading down to their local betting shop to place their bets for the weekend. However, as the times have changed, so too should the punter as online sportsbooks give you far more to work with.

An online sportsbook provides you with not only more betting options but more competitive odds as well. And that is just one sportsbook. Combine several different sportsbooks and what you have is a reservoir from which you can scoop up their best F1 odds anytime you want to. Not only are there more competitive odds for you to choose from but there are promotions and bonus offers on these online sportsbooks as well. Many of which will give your already competitive odds a major boost in value. You just don’t find that kind of offering at your local betting shop, unfortunately.

We should note that we have absolutely nothing against offline betting shops as they provide a stellar betting atmosphere as fellow pointers all gather around to place their bets. But when it comes to finding yourself the best F1 odds, you really need to go with the best online sportsbooks in the US instead.

A history of F1 betting odds – a young sport with a bright betting future

The start of F1 betting started back in the 1950’s. Now back then, the sport was still in its infancy so there wasn’t nearly the support that there is today. The betting was also straightforward as no one was really too familiar with diversity in betting markets.

F1 started to hit its stride in terms of popularity in the 90’s and early 2000’s which subsequently couldn’t have been better as this was when online betting really started to take off as well. As such, the sport grew into a worldwide phenomenon and the betting world followed its rise. Now there are millions of dollars being wagered on the F1 Championship every year, all within different odds formats.

Decimal odds explained

Decimal odds or European Odds are simply represented in decimal form to indicate an underdog, a favorite and everything in between. Decimal odds work like this. If Max Verstappen has odds of 4.0 to win the next race, then that means that for every $1 you bet you will win $4. So, if you bet $50 on those odds and you won you would take home $200. 

Fractional odds explained

Fractional odds is an odds format that is used largely in England. There are just as simple to understand as decimal odds. For example, if Lewis Hamilton had odds of 1-4 to win an upcoming race, then that means you would need to wager $4 to win $1. If he was actually an underdog and had odds of 4-1 then you would need to wager $1 to win $4. 

American Odds explained

American moneyline odds look like a completely different beast in their own right but they too are remarkably simple to understand. This format is essentially all based on a $100 figure. For example, if Lewis Hamilton had moneyline odds of -600 then that means you would have to bet $600 to be able to win $100. If he was in fact an underdog and had moneyline odds of +500 then you would only need to wager $100 to win $500. 

How are the best F1 odds calculated by sportsbooks?

Just like any other sport, Formula 1 has a number of different variables in every race. As such, when you bet on F1 racing, the odds that are calculated by sportsbooks take all of these variables into account. Everything from the weather for the weekend race, the form of the drivers and the team morale to the drivers recent history on that track. Basically, whatever you could possibly think of that might impact the race, these sportsbooks have already thought of. All of these variables lead to the opening betting line for the race.

The opening betting line is subject to change right up until the day of the race. This is not because Formula 1 betting sites are trying to dupe. It is dependent on how many bets they have taken for the race. The more bets they take for certain drivers the more the odds are likely going to change somewhat. The sportsbooks do this to balance their books.

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How to make use of the best F1 betting odds – taking on a few new strategies

Now that you know why F1 betting odds are so important to the potential of your future winnings, you now need to complement this knowledge with a few handy betting strategies. These betting strategies can also be used with many of the best sports betting odds so keep that in mind when going forward. For now, here are two betting strategies that we think are viable options to use with your newly found F1 betting odds.

Arb betting strategy

An arb betting strategy is a strategy that is generally for more experienced punters, but you’ll have to start somewhere if you want to master it. This betting strategy is all about covering both results. It will be a little difficult to use for an F1 race, but it can be done. You need to bet on two or more different outcomes which will, in turn, give you a better chance of at least getting your money back or even walking away with a neat profit.

In order to make an arb bet work, you need to first work out the IAP which is the Individual Arbitrage Percentage for each set of F1 betting odds that you want to use from two separate sportsbooks. This is done by using the formula (1/Odds) x 100 which you apply to each set of odds.

Both sets of odds have to work out to less than 100 (the Total Arb Percentage) for it to be considered a viable arb bet

Martingale strategy

A Martingale betting strategy is a very simple betting strategy to understand. What you need to do is, place a small initial bet on a race of your choosing. If your bet loses, then double your initial bet and try again. Keep doubling your bet if you keep losing, once you win, you will then have made your losses back and hopefully have made a handsome profit as well. It is an old betting strategy and is used by many professionals, but you will need a decent bankroll to do it especially if your first couple of bets lose. 

Betting markets to use with the best F1 odds

There are tons of different betting markets to use in conjunction with the best F1 odds. Here are some of our favorites right now:

  • Outright race winner: bet on who you think will win a particular race on any given weekend.
  • Season winner: take a guess at who you think will win the whale F1 Championship.
  • Fastest race lap time: put your money on the driver that you think will drive the fastest lap time during the race.
  • Top 3 finishes: bet on a driver that you think will finish in the top three at least.
  • Will a safety car be needed: bet on whether there will be a consequence in the  race that calls for the use of a safety car

Odds Comparison FAQ – the answers to your burning questions

Is the F1 odds comparison tool at GamblingGuy free to use?

You bet it is! Here at GamblingGuy, we try to do everything in our power to make sure that our readers have a fruitful betting experience with sportsbooks that offer you the best F1 odds on the market. Our F1 odds comparison tool will help you find the best betting odds from all of the top sportsbooks in the US right now. So, head over to our site and start using our F1 odds comparison tool to help you on your way to betting glory.

Should I not use the sportsbook I’ve been using anymore?

Not at all. If you have found a home with a sportsbook that you love, then by all means keep that sportsbook as your main base of operations. However, it is always a good idea to sign up to a couple of other sportsbooks to give yourself a wider spread of the best Formula 1 odds.

Can I boost my odds with the best online sportsbooks?

Yes, you can. However, it will depend entirely on the sportsbook itself. There are plenty of sportsbooks in the US that will offer you odds boosters that can give your F1 betting odds a major jump in value. These odds boosters are great and don’t usually have extremely strict wagering requirements attached to them. Always keep your eye out for these types of promotions but if you want to know for sure where you find them right now then you only need to read our reviews of the best sportsbooks in the US.

Why should I compare odds in the first place?

It should be fairly clear by now why you should use an F1 odds comparison tool. An F1 odds comparison tool gives you access to a much bigger pool of the best F1 odds from all the best sportsbooks in the US. From there, you can cherry pick the best odds and continually give your elf the most valuable bets possible.

Do the best F1 odds mean I am guaranteed to make a profit?

no , not at all. While you will absolutely be able to take home bigger wins by choosing the best Formula 1 odds from different sportsbooks, this doesn’t mean you are guaranteed to win and gain a profit. You still need to bet wisely and do your research on the races to see who is coming into the weekend in red hot form and who has been dwindling behind in recent weeks.

Conclusion to our F1 betting odds comparison

And so, we come to the end of our F1 odds comparison guide. It should now be abundantly clear why using an F1 odds comparison tool is so valuable to you. Giving yourself more options in this regard is the only way to really go about finding the most valuable bets possible. Remember , you can head straight to our site at GamblingGuy US to use our F1 odds comparison tool. But we are by no means a one trick pony as we can help you find the best cricket betting odds. We also have a dedicated boxing odds comparison tool for you to sue as well.

Best F1 Betting Odds FAQ

👀Is it easy to find the best Formula 1 odds?

Finding the best Formula 1 odds on your own will require a lot of dedication and hard work. You’ll have to do hours of research to be able to know where you can find the best Formula 1 odds. Luckily for you, our team at GamblingGuy have already put together an F1 odds comparison tool for you. So, this means you can cut out the hours of research you would have done on your own and head straight to our site to find the best Formula 1 odds.

❓What are some of the benefits of using an F1 odds comparison tool?

An F1 odds comparison tool has a number of advantages for punters. Our guide on our F1 odds comparison tool will show you exactly why you should be making use of this feature before going any further with your F1 betting.

💲What promotions will help me to make the most of the best Formula 1 odds?

Every single one of the best sportsbooks in the US will be sure to offer you a plethora of different betting promotions. The trick is to cash in on the promotions that are going to help you make full use of the best Formula 1 odds that you have found. Check  out the rest of our F1 odds comparison guide to find out what promotions are going to be ideal in complementing your F1 betting odds.

If you know F1, then you know that there are plenty of different things that can unfold during the course of a race. As such, our guide will show you a couple of the most popular F1 betting USA markets to use that will also work nicely with the best F1 betting odds as well. Here at GamblingGuy US, we always try to serve our readers with the latest and most useful information possible so check out the rest of our guide to take your F1 betting to the next level.

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