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Best Formula 1 Odds 2024: Compare the top F1 Betting Odds for May

Last Updated on May 14, 2024
Fact checked by: Jesse M Cox

Looking to find the best F1 odds where you are today? Then you’ve come to the right place to begin your adventures in Formula 1 betting! The F1 odds comparison here at Betting.net is updated live and in real time.

Not only that, but we pool our odds from a seemingly endless arsenal of legit bookmakers – from the big brands to the new up and comers that you need to look out for. For the newbies, we’ll also take you through Formula 1 betting odds, the markets and how they work.

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Compare the Best Bookmakers for F1 Betting

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Odds for Imola 2022

Driver Constructor Odds from BetMGM(International) Odds from Caesars(US) Odds from FanDuel(US)
Charles Leclerc Ferrari +120 +110 🌟Click Here for Odds with FanDuel🌟
Max Verstrappen Redbull +175 🌟Click Here for Odds from Caesars🌟 +155
Carlos Sainz Ferrari 🌟Click Here for Odds with BetMGM🌟 +700 +850
See More Odds From Draftkings F1 Odds 🏎 Bet365 F1 Odds 🏎 BetMGM F1 Odds 🏎 888 F1 Odds 🏎

Odds calculator

The most important reasons to compare F1 betting odds

As a new gambler, and perhaps even as an experienced punter, you might be asking yourself if it really is worthwhile comparing odds. The answer is absolutely yes! We get it, it’s easier, more comfortable and more convenient to find one solid online bookmaker you like and stick to it. You might also be thinking that odds don’t fluctuate that much between different bookmakers anyway – but they most definitely do.

When buying flight tickets, very few people go back to the same airline time and time again because they liked them the first time. The most common practice is to use comparison sites in order to find the best price – and you’ll usually find that the price fluctuation can be massive between airlines. Well, when it comes to Formula 1 betting odds, it’s exactly the same. That’s why you need to use our F1 odds comparison tool here at Betting.net.

You can think of us as the Skyscanner of betting odds!

Why use the F1 odds comparison here at Betting.net?

We source our betting odds from a massive number of online bookmakers in a range of global gambling jurisdictions. Moreover, our odds are updated live and in real time – increasing your chances of finding the best deals.

Did you know that some bookies are slower than others at updating odds, and that some miss out on factors that could influence the outcome? With our real-time odds comparison you can increase your chances of finding the best odds and beating the bookies! As well as F1 odds, you can also find the best football odds and more with us here at Betting.net.

Online vs offline – chasing the best F1 odds

Are you still the type of punter who likes to head out to the local brick-and-mortar bookmaker to place your bets. There’s nothing wrong with that – only you really could be missing out on better F1 odds. Offline betting odds tend to be updated slower and fluctuate less. Additionally, comparing offline odds is a laborious task, even at the very best of times.

In order to even attempt to find the best offline odds, you either have to drag yourself from bookie to bookie, or get the phonebook out and start calling them up. By the time you’ve gone through the whole directory, the odds could very well have changed at the first place you called.

When comparing odds online using our comparison tool, you have the odds from all of the available bookmakers in your jurisdiction on your screen at the same time. Not only that, but you’ll also find that they are live and updated in real time.

Yes, there’s a certain charm about heading down to your local bookie. However in doing so, you’re missing out on better odds, smoother service and, most importantly, you’re losing potential value in your bets – and therefore missing out on more cash winnings!

The history of betting odds in Formula 1

Especially in countries with a long and historical relationship with sports betting, such as the United Kingdom, Formula 1 betting odds have been around as long as the sport itself – which began in 1950. Horse racing is widely known and considered to be the original proper betting sport, and therefore gambling on F1 is a logical evolution of that.

In today’s world, there are multiple different odds formats that you will find when gambling online. The F1 betting odds format that you’ll find in the online bookmaker you’re using largely depends on where in the world you’re gambling form. There are three odds formats that are most commonly used in the world today – decimal, fractional and American. We’ve provided you with a short explanation of how each format works below.

Decimal odds explained

Decimal odds is now becoming the most commonly used format the world over, and is the go-to default in mainland Europe, Australia and New Zealand. It’s a logical format that is simple to read and calculate at a glance. With decimal odds, the two sides of a possible outcome are represented as a ratio for example – 2.1.

Fractional odds explained

Fractional odds is the oldest and most traditional format, and is still the most common format you’re likely to encounter when looking for the best F1 odds in the UK or Ireland. With fractional odds, the two sides of the potential outcome are represented as a fraction, for example 2/1.

American odds explained

American odds, also known as “moneyline odds”, is the most commonly used format in the USA and North America. It’s the most recently developed format and was created specifically for the purposes of sports betting. With American odds, there are two different types of numbers to be aware of, positive and negative.

With positive number odds, the number represents the amount of profit that you stand to win with a $100 stake, for example +200. With negative number odds, the number represents the amount you would have to stake in order to make a $100 profit should your bet win – for example -200.

How are Formula 1 odds being calculated?

In theory, the bookmakers and sportsbooks calculate their F1 betting odds much the same as they do the rest of their sports odds. However, there are factors specific to F1 as a sport that can influence how the odds are created – such as driver fitness and the spec of the cars themselves.

We’ll let you in on a little secret as well – bookies don’t always calculate their odds based on the actual realistic probability of an outcome coming to pass either. At the end of the day, they want to reduce the variables and protect their profits. However they also have to offer value to you the punter in order to make the bet an attractive one to place.

Below, you can find a short explanation on how to calculate your potential returns and profits with each odds format. Additionally, we’ve also explained how to calculate the implied probability. These calculation methods can be used for everything from formula 1 odds to UFC betting odds and more.

Decimal odds calculation

In order to calculate your potential total returns with decimal odds, you simply need to multiply your stake by the odds. For example if you placed a $10 bet at odds of 2.1, you would calculate your potential returns as follows: $10 x 2.1 = $210.

To calculate your probability, you divide your odds by 1 and then multiply the answer by 100. Using the example above: )1 ÷ 2.1 = 0.476) x 100 = 47.6%.

Fractional odds calculation

To calculate how much you stand to win with fractional odds, you simply need to multiply your stake by the top number and divide it by the bottom number. For example, with odds of 2/1, you would do this as follows: ($10 x 2 = 20) ÷ 1 = $20.

To calculate the probability with fractional odds, you simply need to divide the total of the two numbers by 100 and then multiply it by the second number. In this case, 100 ÷ 3 = 33.3% x 1 = 33.3%.

American odds calculation

With American odds, the calculation of your potential profits is simple. With positive odds, the number shows your potential winnings with a $100 stake. So with odds of +200, your potential profit would be $200, with your total returns being $300 (your $100 stake plus your $200 profit.

With negative number odds, the number represents how much you would have to stake in order to win a $100 profit. So with odds of -200, your potential winnings would be $100, but you would have to stake twice that in order to get the total $300 in returns.

Compare the best F1 bookmakers

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As with betting on all sports, outrights and win markets are the most common and easiest to understand with F1 gambling. There are also pre-race and in-race bets as forms of futures and live betting.

When it comes to betting markets that are more specific to the sport, you can bet on points, winning margins and naming the finishing position of a certain driver. Popular markets include double points finish and podium finish. You can also place bets on laps and pit stops, including the fastest lap, fastest pit stop and the winner of Lap 1.

Formula 1 odds comparison FAQ

Below, we’ve answered some of the questions that our readers and users most commonly ask us with regards to F1 betting odds

Do I have to pay for your odds comparison service?

No, you do not, the odds comparison service here at Betting.net is completely free of charge! This applies to F1, basketball betting odds and more. Just like the majority of comparison websites you’ll find when shopping online for everything from clothes to car insurances, we believe that helping our users find the best value should be a service that is completely free.

Why shouldn’t I just stick to one bookie? 

Do you always buy your clothes from the same shop, your flights from the same airline or eat in the same restaurant? In most cases the answer to these questions is probably no – and it should be the same with online bookmakers. In sticking to just one online bookie, you are missing out on finding the best odds and therefore missing out on valuable bets and potential cash winnings.

Are there differences between online and offline odds? 

Yes, online odds are created and calculated using more resources and modern technology. Additionally, they also tend to be updated live and in real time. Most importantly, with our odds comparison, you can find the best odds all on one screen. Overall, if you’re shopping around for potential value, then online is always going to be better.

Is the F1 odds comparison different from other sports?

While all of our odds comparisons follow the same format and formula, and look exactly the same on the face of it, you will find subtle differences. Generally, these differences will be in the form of the betting markets that are specific to each sport. For example, with Formula 1 odds, you can compare the odds on lap betting, the podium and pit stop speeds among other things.

Are odds really that different between bookmakers?

You might be thinking about this in terms of shopping around for hotels, where the price tends not to fluctuate much between the different outlets. Or with products, where the price differences between retailers tend to be small, if they even exist at all. However odds are much more comparable to flights, in that the price differences and value can really vary between operators.

Additionally, some online sportsbooks are slower than others when it comes to updating their odds, while others may miss out on changing circumstances or an influencing factor. You therefore stand a huge chance of finding massively better odds and increasing your potential payout by using an odds comparison site like ours.

Comparing the best F1 odds – the conclusion

So there you have everything you need to know about F1 odds and how best to use our comparison to find the best value for your bets. You’re now ready to continue your exploration and make use of the excellent odds comparison tools here at Betting.net. Before you do, however, we’d like to leave you with a couple lasting pieces of advice.

Firstly, never assume that because you’ve found one good bookie that they’re always going to have the best odds. Secondly, remember that odds can change quickly – so check the comparison frequently. And lastly – happy betting and have fun!

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F1 betting odds FAQ

🏎️ Can you bet on F1 in 2021?

Yes you can bet on F1 this year and for other years in the future, There are a few things to look out for. Firstly make sure that gambling is legal in your jurisdiction, then you need to look for the best betting sites and odds for F1 where you are. Fortunately, here at Betting.net we have tested and reviewed hundreds of online F1 bookmakers from across the world.

❓ How do you bet on F1?

Betting on F1 is very similar to betting on other sports, however there are betting markets and other factors that are specific to F1 as a motorsport. It is even slightly different to betting on some other motorsports actually. You can find the best Formula 1 betting odds and guides here at Betting.net – the home of gambling experts.

📍 Where to find the best odds for Formula 1?

Unfortunately, there is no one single bookmaker online that’s going to offer you the best odds every single time you want to place a bet. That’s why shopping around for the best odds is always key. The odds comparison at Betting.net is updated live, in real time and pulls together the best odds from a range of top bookmaker websites that are available in jurisdictions from across the world. Follow this link to make use of the odds comparison.

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