Formula 1 Betting at Bally Bet

As one of the world’s most popular motorsports, Formula 1 is a rip-roaring combination of cutting-edge technology, fearless drivers and intricate strategies. And with a global calendar across several contents as well as a season-long championship battle, it offers immediate race-day excitement as well as long-term drama.

Owing to the sport’s technical nature, team dynamics and circuit variety, the markets available for Formula 1 extend far beyond simply choosing who wins the race. From Qualifying performances to Constructor Championships – following a pit stop at fastest laps and point finishes – the sport’s multifaceted appeal is fully reflected in the markets that come with it.

At Bally Bet, we provide comprehensive Formula 1 betting markets that cover race weekends and championship outcomes throughout the season. Whether you follow the sport closely or you're just discovering its appeal, you'll find the markets and information you’re after here.

Understanding Formula 1 Basics

Formula 1 operates on a unique structure that can influence how its betting markets function and what factors can matter when you're assessing outcomes.

Season Structure

The F1 season typically starts in March and finishes in December, with 24 races called ‘Grands Prix’ taking place across five continents.

Each race weekend follows a structured format across three days:

Friday: Two practice sessions where teams test and optimise their cars.

Saturday: Third and final practice session followed by Qualifying, which determines Sunday's starting grid positions.

Sunday: The race itself, typically lasting 90 minutes to 2 hours covering a set distance (usually around 305km).

Points and Championships

Points are awarded to the top 10 finishers in each race: 25 points for 1st, 18 for 2nd, 15 for 3rd and then 12, 10, 8, 6, 4, 2, 1 for positions 4th-10th. Until the 2025 season, an additional point was awarded to whichever driver set the fastest lap, provided they finish in the top 10.

Individual drivers accumulate points across the season, and in order to win the coveted Drivers’ Championship, they must have the most points after the final race.

When it comes to the Constructors’ Championship, it’s a bit more of a team effort. Every season, each racing team enters two cars. The points the cars accrue throughout the season are combined, and whichever team has the highest total wins.

Formula 1 Terms You Need to Know

Pole Position

The first grid spot on the track, given to the fastest driver in Qualifying. Depending on the track, securing this spot can give the occupying driver a considerable advantage.

Drag Reduction System (DRS)

A device controlled by the driver that opens a flap on the car’s rear wing and reduces drag. This allows the driver to increase speed and overtake, but it can only be used in designated zones on the track, and when within one second of the car ahead.

Pit Stop

A quick break for the car to be serviced, whether that’s to change tyres, have something repaired or even change drivers. It’s done rapidly and in line with the team’s pit strategy.

Safety Car

Deployed during incidents to slow down the race cars. When this happens, gaps between cars are compressed, allowing teams to make strategic decisions depending on factors like the current condition of the car, number of remaining laps and so on.

Fastest Lap

This means the quickest lap completed by a driver during the race.

Constructors/Teams

The manufacturer that builds and maintains a car, like McLaren or Ferrari. Each team fields two drivers per race.

Types of Formula 1 Circuits

Street Circuits

These are temporary tracks that run through city streets, like Monaco and Singapore. They’re narrow, challenging and come with high attrition rates.

Purpose-Built Circuits

Permanent racing facilities, like Silverstone and Spa, that typically allow faster racing with more overtaking opportunities.

Hybrid Circuits

A combination of the previous two, with public roads and permanent facilities. Albert Park in Melbourne and Circuit Gilles Villeneuve in Montreal are two such venues, blending the qualities of both road and street circuits.

The different characteristics of a track can dramatically affect which teams and drivers perform best, making track knowledge an asset to anyone looking to place a bet on a race.

Popular Formula 1 Betting Markets

Race Weekend Markets

Race Winner

Predict which driver you think will win Sunday's Grand Prix. The most straightforward market, but it’s worth keeping an eye on recent team performances before wagering.

Podium Finish

Wager on a certain driver to finish in the top three. These provide safer options than outright winner bets when backing drivers from competitive teams.

Points Finish

Choose a driver to finish in the top 10 and earn championship points. This is useful if you’re backing midfield teams expected to perform well but unlikely to reach the podium.

Fastest Lap

Back which driver you think will record the quickest single lap during the race.

First to Retire

Decide which driver will be the first to fail finishing the race due to mechanical issues, crashes or other incidents.

Winning Margin

Wager on the time gap between first and second place at the finish. Close races produce tight margins, while dominant performances create large gaps.

Season Outrights

Drivers' Championship Winner

Back which driver you think will accumulate the most points across the full season. This market is available all year round, and odds adjust after each race.

Constructors' Championship Winner

Predict which team you think will score the most combined points from both their cars across the season.

Best Finishing Position

A season-long market where you choose which driver of two you think will finish in a better position.

Other Markets Worth Looking at

Constructor Performance

Back which team you think will win Sunday’s race – not the specific driver.

Pit Stops

Choose which team you think will register the fastest pit stop in the race.

Matchups

Decide from a predetermined list which driver of two will finish the race in the best position.

To be Classified

Bet on whether you think a certain driver will complete at least 90% of the race’s distance.

Major Formula 1 Racing Events

Every Grand Prix race carries an equal number of championship points, but certain races hold special significance in the calendar and attract enhanced levels of interest.

Monaco Grand Prix – May

Arguably the most prestigious race on the calendar, taking place on the narrow streets of Monte Carlo.

Qualifying is hugely important here, given that overtaking is exceptionally difficult. That’s why, historically, drivers starting in pole position have won a considerable number of Monaco races.

British Grand Prix – July

Hosted at Silverstone, this historic race sees fervent support for British drivers and teams. It’s a fast, flowing circuit that typically produces exciting racing with multiple overtaking opportunities.

In true British fashion, the weather for this event can be unpredictable, making way for strategic complexities and considerations.

Belgian Grand Prix – July

On the topic of weather, Spa-Francorchamps is another known for its unpredictability as well as its challenging track. Expect drama and safety car periods as drivers deal with ever-changing conditions on one of the longest circuits in F1 racing.

Italian Grand Prix – September

Held at Monza, this is the F1's fastest circuit. The “Temple of Speed" rewards straight-line performance and minimal downforce setups. Ferrari's home race generates an immense atmosphere and partisan support.

Season Finale – December

The final race is oftentimes the decider for championship winners, and the gravity of the event is reflected in the surge of hype it attracts – just look at the recent dramatic title conclusions in Abu Dhabi and you’ll get the idea. Markets reflect championship scenarios, and odds may shift based on point gaps and possible outcomes.

Things That Can Influence Formula 1 Betting

There are a few variables that can affect the outcome of a race, and these are what can make Formula 1 betting a bit more complex than just backing the fastest driver.

Team Performance and Car Development

Fundamentally, Formula 1 is a constructor sport: the car is just as important as the driver. Teams upgrade their cars with new components throughout, which can transform competitive positions. These enhancements, when done mid-season, can turn a midfield team into a podium contender – or vice versa if things go wrong.

It’s a good idea to keep an eye on which of the teams seem to be improving with these new additions, and which ones may not be, as it’ll provide crucial context to the race beyond driver talent alone.

Circuit Characteristics

Teams follow different philosophies when designing cars. Some of them do well on high-downforce circuits that require cornering grip, which allows them to carry more speed going through a corner, while others perform better on power circuits with long straights. Knowing which circuit type suits which teams will help when you’re exploring available markets.

Qualifying Performance

Drivers qualifying in the top 6 typically have considerably better podium chances than those starting in the middle, regardless of overall pace. And some circuits (like Monaco and Hungary) make overtaking extremely difficult, meaning Qualifying performances can often determine the outcome of a race more than how fast a car may be.

Tyre Strategy

Formula 1 mandates the use of three sets of tyres across two different compounds, one of which must be a race compound like medium or hard. Decisions about when to pit and which compound to use can make or break races, and teams occasionally gamble on unconventional strategies that can pay off or backfire dramatically.

The weather can further complicate a team’s strategy, with rain having the potential to upend pre-race plans and create opportunities for bolder strategic calls.

Reliability

Even the most dominant cars occasionally suffer mechanical failures, and understanding which teams have historically strong reliability compared to those prone to retirements can help assess markets, especially those that require race completion.

Driver Form and Team Dynamics

The form and confidence of a driver can fluctuate across seasons and, in the early days, a new teammate can sometimes struggle initially before adapting. Contract situations, team politics and rivalries may all influence performances in ways not always obvious from pure pace comparisons.

Live Betting on Formula 1

The structure of F1 racing and the complexities surrounding strategies at play during an event help create a number of interesting in-play opportunities.

Odds shift during Qualifying as drivers complete flying laps, and early pace indicators can signal which drivers and teams are competitive before final qualifying attempts.

First lap crashes are relatively common in F1. And odds adjust in line with race start incidents if leading drivers are eliminated or damaged.

Because other drivers on the track are driving slowly too – meaning less time to make up for – teams regularly pit under the safety car. This compresses the field somewhat and introduces possible strategic opportunities.

When race leaders adopt different strategies, such as one-stop vs. two-stop, odds can change to reflect the probabilities as they play out.

Changes in weather – like approaching rain – can create dramatic movements, since certain teams and drivers do better in wet conditions than others.

If a leading car starts showing signs of problems – reported over the team radio or visible in their performance – the odds may shift before its retirement actually occurs.

How to Bet on Formula 1 at Bally Bet

Looking to place a bet on a race with us? Getting involved here is straightforward and, fittingly, super quick.

1. Head to the Sports section of Bally Bet, and find the Formula 1 tab.
2. Select the specific Grand Prix and session (race, sprint or Qualifying) you want to bet on.
3. Browse the available markets and make your choice. Keep in mind that the full markets for a race appear several days before it takes place. Odds are displayed next to each option.
4. Any selection you make will appear in the bet slip. Enter your stake and review the potential returns.
5. Review and confirm your bet. We’ll send you confirmation of your selections soon after.

Responsible Formula 1 Betting

With a stacked calendar and events throughout the season, there are plenty of opportunities to get involved with F1 betting. And that calls for a disciplined approach. Here’s how to make sure you’re always in control:

Manage your race weekend involvement

Each Grand Prix offers Qualifying and race betting across three days, set weekend budgets instead of betting on every session.

Mind the sport’s complexities

There are a number of technical and strategic variables involved in F1 racing, some of which may not be immediately obvious to the casual viewer. So, before you place a bet, recognise knowledge gaps and avoid betting on aspects you’re not fully familiar with.

Use available tools

Bally Bet provides tools to help you set deposit and spend limits, account cool-offs and betting history tracking to maintain control over activity.

Thanks to the elite racing and engineering skills on show each time, you can enjoy a Formula 1 race whether you’re betting or not. Maintaining that perspective ensures ongoing enjoyment throughout the season.