The immense popularity enjoyed by Formula One over the decades has resulted in a corresponding rise in the Formula One betting as well.
Regardless of how Bernie Ecclestone may have been portrayed in the media during his tenure at Formula One, you can’t really touch the man’s record in managing motorsports. Upon taking over the responsibility of managing Formula One’s commercial rights during the early 70s, when the sport used to be nothing more than a simple pastime for amateurs and gentlemen, Bernie worked tremendously on promoting the sport and successfully turned into a multibillion pound industry. The audience of Formula One grew to more than 600 million people world over as a result.
Such amazing growth in the popularity of Formula One resulted in an equal and corresponding rise in the Formula One betting opportunities too. Despite the fact that the UK punters could hardly get more than a few tiny bets on a Grand Prix’s winner during the 1980s, apart from some more options during the times of Nigel Mansell, the betting activity on the sport has come a long way! The modern day punters can wager on a large variety of Formula One markets at any off-line or online casino, including the likes of Bet365 (where you can also earn an attractive sign-up Bet365 bonus).
And no matter how complicated and technological fan discussions may get at various Formula One discussion boards, it remains a fairly simple sport when it comes to placing wagers. You can place bets on simple propositions like which driver can drive his car a particular distance, in 20 different races, and in fastest time? Sounds simple enough?!
Normally, Formula One Grand Prix always happens over the weekend and comprises of couple of free practice sessions on Fridays and Saturdays, followed by a qualifying session on Saturday and then the actual race on Sunday. A regular Formula One racing year features 24 drivers from 12 different teams. The qualifying process involves three round, with every round lasting for 10 minutes and removing seven drivers in the process, leaving 10 drivers for the final qualifying session (Q3). The top 10 drivers after the first two qualifying stages (Q1 and Q2) then battle it out for the top 10 starting grid positions in the last session (Q3).
Some popular Formula One betting markets
- Drivers championship winner
- Grand Prix winner
- Grand Prix podium placements
- Grand Prix fastest lap
- Grand Prix overall qualifying
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Effective Formula One betting tips and strategies
Avoid over betting on the driver in pole position
Although the driver who qualifies for the pole position certainly has a major edge over others, if you consider the increased overtaking opportunities and discussions surrounding greater car parity, and the overall statistics, this driver would win no more than half of all such races (where he starts from the pole). What more, this figure has stayed the same over the years, with a near-perfect 50% record, almost every time!
This is highly useful information one can benefit from while assessing the placement of value in the general Grand Prix winner market. Especially because the driver on the pole position trades at odds that are mostly under 2.0, the ideal mark where he should be trading at as per stats. This is particularly seen in case of high-profile drivers, who although qualify with the fastest timings, and start from pole position on the grid, often trade much below even-money. In fact if you look closely at the prominent racers of all times such as Sebastian Vettel, Michael Schumacher, Kimi Raikkonen, Lewis Hamilton, Fernando Alonso and more, they’ve all won fractionally more races by starting from pole position, than from any other place on the grid.
Such info can also be immensely helpful when placing prequalifying bets on the Formula One Grand Prix winner market. Pretty often, a driver that boasts of a solid record in his recent races, trades at short odds-against, well ahead even of the qualifying session. Such drivers provide a strong lay-to-back opportunity. In the event that they’re unable to take the pole position, their odds change dramatically, and when they do start from the first position on the grid, their odds are still short and they hold only a 50% chance of being able to convert that advantage into victory.
Stay well informed while betting live on Formula One
Anyone who’s been following Formula One for a good amount of time would know why pole-starters don’t always win their races for the simple reason that any driver can get struck by misfortune, even the ones who’ve a clear track ahead. If you remember, Mika Hakkinen who was strongly backed for winning the Spanish Grand Prix in the year 2001, had to retire early because of a clutch failure, just five corners away from the chequered flag.
Hence, regardless of how unassailable position a driver may be in, he can get struck by mishaps like rain stoppages, mechanical failures, tyre bursts, time penalties, safety cars and more. Hence, if you’re going to bet live on Formula One races you better equip yourself with as much info as you can. It’ll help you predict such incidents and prepare for them well in advance.
The basic minimum that you should be aware of is the track layout, as it’ll help you judge the place where a collision has happened and how it’ll impact the race. Furthermore, you should also know the position of safety cars and pits, to respond better to the in-play developments.
Access to timely and reliable race data is also critical when you’re betting live or in-play. Although broadcasters do a fairly good job of keeping their viewers updated about the latest race developments, the information provided by them isn’t usually updated very frequently or in real-time. You can access the official website of Formula One racing, and several others that provide real-time race data, apart from frequent weather reports, keeping you updated about the latest weather conditions around the circuit. Accessing all such data faster than other punters can become the final difference between success and failure in Formula One live betting.
Stay away from rumours and unreliable media reports
Just as good information is critical for succeeding in Formula One betting, bad information can be extremely dangerous for your wagers. As in all major sports, media fills up its columns and programs just before any scheduled Grand Prix race, and usually goes about doing it in any way possible.
Hence, you’ll often see newspapers, magazines and TV channels reporting on car performances, technological advances, driver spats and much more. Unless verifiable and quantifiable, you can ignore all such information with ease. All such often baseless data can be more harmful than profitable most of the times.
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Avoid over-committing during the early stages of the Formula One season
Regardless of whether you’re betting on individual Grand Prix races or the Driver’s Championship, you must keep in mind that all teams take at least few races to find their form. This becomes all the more relevant in case of new technological developments and major rule changes in the sport. If you recall, Vettel could manage no more than one podium finish during the first three races of the Formula One’s 2012 season, but nevertheless went on to win the championship.
Rather, you must keep your stakes fairly small during the initial few races and build up your knowledge about the new-season cars, in order to bet more effectively during the middle and later stages of the season.
There’s no guarantee in pole positions
It may make plenty of sense to make pole winner predictions based on previous performances; after all considering that a team and driver have performed well at a certain circuit, under certain conditions every time make it good enough to predict that they may repeat their performance again.
However, that’s not what’s suggested by the data. Looking at several Grand Prix races of the past, drivers have only managed to win back-to-back pole positions 30% of the times. Although that figure rose abnormally during the 2010 season when Sebastien Vettel dominated almost every race, it has stayed around that mark otherwise every year.
If you really need to bet on the pole position, ensure that you get odds higher than 3.5. It may not be all that worthwhile if you can’t get that kind of odds. Bet365 is an online casino and sports book that can provide you with excellent odds for such markets. However, don’t forget to ask for your Bet365 bonus when you sign-up with them.
No guarantees that the fastest qualifier will automatically post the fastest lap in the race too
Although it may seem logical that a driver who posted the fastest lap during the qualifiers is most likely to post the fastest lap in the race as well, when it comes to Formula One betting, everything that seems logical isn’t always derived from the statistics.
If you go by the stats and actual figures of the modern era Formula One races, the overall winner of the qualification session stands no more than 26% chance of posting the fastest lap in the actual race too. Hence you must avoid betting on that driver in the fastest lap market unless you get fairly good odds of 4.0 or higher.
The above point also makes sense from the perspective that after positioning himself at the first place during the qualifiers, he may most likely adopt a conservative race strategy, and is unlikely to drive the fastest laps during the race. You can adopt two possible strategies in such a scenario:
– You can back the pole position driver’s teammate instead. If the concerned team has been able to deliver a car good enough for the prevailing track conditions, so much so that the driver could post the fastest lap time, it’s quite possible that the pole driver’s teammate may adopt an aggressive race strategy to improve his race position, and post the fastest time in the race. If we go by the facts, many races in which Sebastian Vettel started from the pole position during the 2010 and 2011 Formula One races, Mark Webber, his teammate, actually went on to post the fastest racing laps in almost third of them.
– You can also identify some other high profile driver, who’s been consistently performing well in the recent Grand Prix races, but is starting from behind on the grid. It could be because of some technical or team error during the qualifying session. He’d be far more motivated and may possibly take several risks for improving his race position, and may most likely post the fastest lap in the process.
To conclude, please keep in mind that winning money from Formula One betting isn’t just about putting your money on the fastest driver. You have many more options to bank on! All of them can be pretty well paying if you approach them in a strategic and well-informed manner.