Formula One Betting

F1 Betting at Bodog Sportsbook

Of course it took a reality show to bring auto racing back to the masses. Formula 1 betting has been around since the circuit was founded in 1950, with many peaks and valleys along the way, but business really started picking up at Bodog Sportsbook after Netflix unleashed Formula 1: Drive to Survive in 2019, bringing millions of freshly-minted racing fans into the F1 betting market.

If you happen to be one of those new arrivals – or if you’re just in need of a refresher – you’ve come to the right place. We’ll give you a quick look at the history of Formula 1, and we’ll show you how the F1 betting odds work, so you can start making well-informed bets at Bodog Sportsbook.

A Brief History of Formula 1

Auto racing has been around since shortly after the invention of the automobile in 1886. Formula 1, on the other hand, is a relative newcomer on the scene. Formula racing (featuring single-seater, open-wheel cars, as opposed to stock cars) is the direct descendant of the Grand Prix events that started popping up in France in the very early 1900s, leading to the birth of the European Championship in 1931.

These are called “formula” cars because they all have to meet a certain set of rules and standards. Formula 1 was established in 1946 with a series of non-competitive races, starting with the 1946 Turin Grand Prix; the World Drivers’ Championship was created in 1947, and finally, in 1950, the first official championship race – the British Grand Prix – was held at Silverstone.

After some growing pains, which included a brief reversion to Formula 2 cars due to lack of supply, the F1 circuit started to gain some traction. The Constructors’ Championship was founded in 1958 to recognize the efforts of the manufacturers, who continue to unveil newer and more powerful cars. By the 1970s, F1 racing was a billion-dollar business, making household names out of drivers and manufacturers alike.

Betting on F1: Top Teams and Famous F1 Drivers

While the early F1 scene was dominated by Italian carmakers, it was Argentine-born Juan Manuel Fangio who first rose to prominence in the 1950s, winning five titles – including four straight between 1954 and 1957. Fangio won those championships with four different teams: Alfa Romeo, Maserati, Mercedes, and Ferrari.

After Fangio’s retirement in 1958, the British put a hammerlock on the F1 circuit, with Graham Hill, Jim Clark and Jackie Stewart each winning multiple titles. Again, though, it was Australian-born Jack Brabham who set the pace, claiming three championships and founding the Brabham racing team that would prove so influential until its demise in 1992.

As the 1970s rolled around, F1 had grown to the point where no one country had a grip on the sport. Brazil’s Emerson Fittipaldi (McLaren), Austria’s Niki Lauda (Ferrari) and America’s Mario Andretti (Lotus) all tasted success during this very important time period for open-wheel racing, with Lauda taking his third and final championship in 1984.

That’s when things really started to heat up. France’s Alain Prost (McLaren) and Brazil’s Ayrton Senna (McLaren) began a rivalry that would see them claim seven of the next nine drivers’ titles. Next, Germany’s Michael Schumacher finally broke Fangio’s record by winning seven championships, the first two with Benetton, and the last five in a row (2000-2004) with Ferrari.

The F1 circuit was turned upside-down in 2010 when Germany’s Sebastien Vettel won four straight titles with a relatively new team called Red Bull Racing. Then British driver Lewis Hamilton won six of the next seven for Mercedes, establishing himself as today’s most celebrated F1 name – at least for the moment.

Canadian Grand Prix Betting

The Formula 1 World Championship moves to Montreal every year, where the top drivers battle to win at Circuit Gilles Villeneuve in the famous Canadian Grand Prix. This sport event has been going on under the Formula 1 brand since 1967 and it is a fantastic opportunity for Canadian fans to feel the thrill of F1 racing.

Betting on F1: How to Bet

Now it’s time to pop open the hood on F1 betting Canada. Customers placed in this country will probably recognize the “American odds” format that Bodog Sportsbook uses by default. It’s the same format used for betting on the Big 4 sports leagues, as well as other major events. Here’s an example, using a “head-to-head” (H2H) matchup from a recent race:

Max Verstappen –350

Sergio Perez +250

These are the two current drivers for Red Bull, and Verstappen is their lead driver, so Perez is generally expected to let Verstappen finish ahead of him. If Verstappen does, he’ll pay out $100 for every $350 wagered, while the underdog Perez will pay out $250 for every $100 wagered (smaller and larger bets are allowed). If you’re betting F1 from elsewhere in the world, you might prefer decimal odds or fractional odds rather than the American format; you can easily toggle among the three at your leisure.

While H2H betting has become quite popular, the more familiar way to bet on F1 is to pick the winner of the next Grand Prix on the racing schedule. Each driver is assigned odds based on their previous performance, as well as their popularity in the betting market. These odds can and likely will change as race day approaches, but the winner will pay out based on the odds at the time of your wager.

You can also bet on which Formula 1 driver/constructor will win the next championship. These wagers are available all year long on the F1 futures market, so there’s always something to bet on at Bodog.

F1 Betting FAQ

Q: Where can I find Bodog’s F1 odds?

A: Look for the Motor Sports category when you open the Bodog Sportsbook odds page.

Q: What happens if the winner gets disqualified after the race?

A: All F1 bets at Bodog are settled based on the official result at the time of the podium presentation. Any further changes are inconsequential.

Q: What if neither driver in my H2H bet finishes the race?

A: The driver who completes more laps will be determined the winner.

If you have any other questions about Formula 1 betting, feel free to consult our complete FAQ and Help guides here at Bodog Sportsbook. In the meantime, get your engine warmed up and get ready for the best F1 betting experience in the wide world of sports.