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How to bet on Formula 1 racing

IF you’re after punting action of the highest octane, look no further than the pinnacle of motorsport, Formula One Racing.

Over 66 years, the best drivers in the world have competed in championships ranging from just seven races in 1950, its first season, to the 19 races held last year.

The single seat machines are built for speed, reaching up to 360 kilometres per hour on some circuits and making up to 15,000 RPM.

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The season kicks off in Melbourne for the Australian Grand Prix in March and ends at the Yas Marina Circuit in November for the Abu Dhabi Grand Prix.

Up for grabs are the Drivers Championship, fought out between each of the drivers and the Constructors Championship, which is an award won by the team that scores the most points between its two drivers.

More than 425 million people watched Formula One racing last year.

Each car costs $120 million or more, with 10 teams and 20 drivers participating in the championships in 2015.

Each race has practice, qualifying, which decides where each driver will start on the grid and then the main race. These are usually run over three days, Friday to Sunday.

The top 10 finishers win points.

First: 25 points

Second: 18 points

Third: 15 points

Fourth: 12 points

Fifth: 10 points

Sixth: Eight points

Seventh: Six points

Eighth: Four points

Ninth: Two points

Tenth: One point

Because the racing involves the best drivers in the world, with the most refined car companies in the world participating, it means there is a great variety of betting options available.

Here we’ll take a look at some of the betting options open to punters on Formula One in both the races and the championships.

How to back a driver in the Formula One drivers championship

This is one of those bets you can place all year round.

Formula 1 You have to pick the driver who will score the most points over the 19 formula one races throughout the season.

Consistency is key.

While the guy who wins the most races tends to be the man who takes out the title, those who can ensure their car makes it over the line and on the podium tend to give themselves a big shot.

As we’ve mentioned, points are accumulated by each driver, depending on where they finish in the race.

The punter simply selects the driver they want, points, clicks and lays their hard earned down.

This is obviously a futures bet that you’ll have to sit on for a while if you put it on at the start of the season, but it can be very rewarding if you back a dark horse who makes good.

Make sure you take into account the driver’s skill, but also the history of the car company and read up on what the experts say.

It’s worth noting that these markets can be decided before the end of the formula one season, so bookies will often change their markets to remove the winner and offer odds on who will win the title without him included.

Betting on which car company will win the Formula 1 constructors championship

Almost identical to the drivers championship, but this one involves the points accumulated by each of the car company’s driver pair.

So the points taken by each driver in the team are added up to form the figure required to compete in the contractors’ championship.

Constructor examples include Red Bull Racing-Renault, Ferrari and Mercedes – you have to decide which one will win. Obviously gun drivers are at the pointy end, but make sure you know both drivers and read up on the car company and how its car is expected to perform before you lay this bet.

How to place a win bet on a Formula One grand prix race

This is where the fun starts.

Who is going to win your race?

Simple, right.

Wrong.

Weather conditions, car set up, tyres, driver – there is so much to consider.

Read up on your driver, find out how he has fared at the track previously, see if any other drivers are dominant at the track and see how your driver has fared throughout the earlier races in the season.

Make sure you keep an eye on who qualifies fastest, it’s certainly a great head start for that particular driver or car.

once you’ve done all that and decided who you want, all you have to do is lay your money down and hope for the best.

This is the kind of bet you want to have to spice up your formula 1 experience.

Place your bet and cheer your driver home.

Formula One grand prix place bets – who will finish on the podium?

Pick which driver is going to finish on the podium, one, two, three.

For you to win this bet, all that has to happen is for the driver you select to finish first, second or third.

This can be almost as difficult as picking the winner at times and often the odds aren’t so favourable and the men expected to win the race – too short.

But it can spice it up if a guy – we’re looking at Lewis Hamilton – is winning nearly all the races.

It gives the punter a chance to support another driver and he doesn’t necessarily need to cross the finish line first.

Back your Formula One driver to finish in the top six

Similar to the top three, but more chances to win.

That means the odds are shorter.

But, more often than not, there is always one flyer, a surprise driver who storms into the top six and spoils the party for some of the more favoured campaigners.

If you can manage to pick that driver out, you can make some serious money from your bet.

All he has to do is finish either first, second, third, fourth, fifth or sixth.

How to back your driver to finish in in the Formula One grand prix points

Formula one races offer points from first to 10th and your boy needs to do this if you’re going to win your ‘finish in the points’ bet.

So pick the guy you think is going to finish in the top 10 in the race. Obviously the front runners are very short in this betting market, but, similar to top six betting, you can still find value. Have a bit of fun with one of the minnows and it gives you an interest outside of the big teams.

Also, it can be a great bet to have to ensure the battles for the middle positions are more interesting.

Where your man will qualify in a Formula One Race

Pick where your favourite driver will begin the race on the starting grid.

You’ve obviously got to lay this bet before qualifying, but this market can make the race for grid position more interesting.

Qualifying happens the day before the race and you can find that you’ll get better odds on the best drivers than you would for race win bets.

Back your driver to take pole position in a Formula One grand prix race

An extension of the qualifying bet, but this one is simply who will qualify fastest and start at the front of the grid.

Again, the better drivers with better cars will always be shorter, but some drivers can surprise.

All you have to do here is work out who has the fastest car and back them to be the fastest driver in qualifying.

How to back a driver to complete the fastest Formula One Grand Prix race lap

For the speed demons out there, this bet gives you the chance to find the driver who will complete the fastest lap in the race.

Provided your selection’s car is reliable enough to complete the race, this bet gives you an interest from the start of the race, right up to the checkered flag.

Cheer your driver on and hope he can be quicker across a single lap than any other.

How to back a driver not to finish in a Formula One grand prix race

We like to call this a negative bet, but if you reckon your driver’s car is a lemon or you think your driver is a bit of a dud, then this one is a market for you.

Take note of weather conditions at the race here.

This market can actually provide some value as in heavy conditions, there are always crashes. Some of the weaker teams can be short odds not to finish at times.

Just don’t be cheering for a crash, we don’t want to profit from someone’s misfortune.

Formula One grand prix race hat trick bets

The triple threat is probably one of the most difficult bets to nail.

Hence the strong odds you’ll find on it.

This is a combination of three bets we’ve already mentioned:

> Pole position

> Race winner

> Fastest lap

So you have to make three selections, the man who will take pole in qualifying, the man who will win the formula one race and the man who will be fastest over a single lap during the grand prix.

Yeah, not the easiest — this one is for the hardcore formula One fans.

Betting on driver head to head on Formula 1 grand prix races

If you reckon the favourite is too short in the race, or don’t think your preferred driver can win it, this one can give you an interest by pitting two drivers against each other.

So the bookie will provide odds on two drivers and you have to pick the one who will finish higher in the race.

Both drivers will need to finish the race for this bet to be valid, but it’s certainly one way of keeping an interest in your driver.

Perhaps it will be your favourite driver against your most hated. Now that’s fun.

How far will will the race winner get home by?

This is getting exotic, but you can bet on the distance between the race winner and second place.

Kind of like finding a needle in a hay stack, but if you’re game, you can find some seriously good odds on this market.

Take a guess and hit and hope. Serious profit, but not steady — it’s one to have a tiny drink on.

Things to consider when betting on Formula 1 racing

Before you do anything, make sure you have the cash for your bets.

We don’t mean avoiding paying that electricity bill, or not putting food on the table.

Do it responsibly. Make sure your obligations are met and use your disposable income to make your bets.

Make sure you have multiple betting accounts. This is not a negative thing. It ensures you get the best odds and a choice of different markets, unique to the bookie. It’s also all about the bonuses. At times, you can bet for free if you take advantage of bonus bets the different books provide and you can also get enhanced odds, money back offers and other promotions that can help keep or put money in your pocket.

Make sure you know what is required for your bet to win. Our guide is pretty handy, but ensure you understand what has to happen before you actually lay your bet.

Hitting the track, make sure you do your research.

Know the track and its conditions, know its history. Are there lots of crashes there? Is it hot and dry? Wet and slick? All these factors impact on how drivers will perform and how the cars will function on the track. By extension, it’s worth taking note of the tyre selection and how this may contrast with the track.

Know who your drivers are and how they’ve performed at the track in the past. Some drivers grow an extra cylinder on certain tracks, while others can be stuck in first gear on a particular circuit.

Know their form. How strong have they been on the season? Where have they finished in races? Have they won races? Do they look like they’ve improved from race to race?

Take note of where your driver qualifies. Pole position always provides an advantage, but isn’t necessarily a sure fire way to a win. Those that qualify in the top six tend to give themselves a head start on the grid. But, as we’ve mentioned about the tracks, set up is everything here. Some tracks, like Montreal, are wider and therefore easier to make up places for drivers further back on the grid. By contrast, tracks like Monaco are wonderfully picturesque, but very tight, making it far more difficult for those stuck further back on the grid to over take their opponents.

Make sure you know what the weather is going to be like before you place your bet. It’s very important. Weather conditions can play havoc with a race and cost you money.

Sometimes you’ve got to know when to hold, know when to walk away, and, if it’s monsoonal conditions, drivers have their work cut out just staying on the track, let alone winning their race.

Make sure you know the team you’re betting on. What are their tactics? Do they have a frontrunner and a bridesmaid? What decision will they make if those two men are competing?

How do they go with their tyre, pit, and car set ups?

Has their car been finishing races? How reliable is it? How fast is it?

All this stuff is easy to research and can have a major impact on your betting strategy.