Chris Hardy brings years of experience to Wetten.com, thanks to his strong background in journalism and online writing. Chris' career began nearly 20 years ago when he was hired to work for his local paper; he then made the move to web writing when he and his wife moved to the USA to be closer to family in 2017. This location change led Chris to develop a particular passion in US sports such as basketball and NFL (he remains a beleaguered Miami Dolphins fan and is sure their turnaround season will happen... one day) and he utilises his all-encompassing knowledge of US sports, along with soccer, when writing for Wetten.
Get the best F1 betting odds
Despite being a popular sport, searching for the Best Betting Odds for F1 can be quite a difficult affair. The challenge is mostly with finding the Formula 1 Betting Odds for India. However, if you are determined, you can also go for an F1 Odds Comparison site and check out the different Bookmaker Odds for F1. Analyzing the Best Bookmaker Formula 1 Odds will not only make you realize how F1 odds work but also help you narrow down the list of the Best Bookmaker Formula 1 Odds. It is a great way to start your journey into F1 Betting.
When you are entering the world of betting, you might wonder what need could there be to engage in research. You might be satisfied with the odds presented by your bookie. However, you might find out that on the same match, your friend won a better profit than you did. Odds are mathematically just implied probability of an outcome, but bookmakers place their own profit margins to it. That means different bookmakers have different odds for you.
Here are one of the reasons why you need to compare odds:
Finding the best odds
As different bookmakers will have different margins, based on the odds comparison, you will know which bookmaker has the lowest profit margin. If you opt for that bookmaker, then you can take in more profits than a bookmaker with moderate or high profit margin.
Understanding how odds work
When you analyze different bookmakers and the odds that they present, you will soon understand how odds analysis works. After learning about odds, you can try to strategize and strengthen your overall betting game. It will also help you in the long term.
Learning more about the betting world
When you are entering the world of betting, odds are essentially the most important item on the basis of which you can make your bets. So, when you shop for proper betting operators, you start learning more about odds, how odds are calculated and in the end, gain a lot of knowledge about the world of betting and odds as a whole. The more you research on odds and its use in betting, the more experience you gain.
More and more punters are moving into the online betting market because they are finding a lot of value and benefits in the online betting markets. Some of the benefits of online betting are:
Betting on the go: When you are betting online, you can bet from your computer or mobile. You do not need to wait in line for an offline bookmaker or have to deal with just the kind of odds that they present. Betting online is all about the convenience that it provides.
Easy comparison: One of the best things about betting online is that you can bet after conducting a lot of research. You can easily go for the Best Betting Odds for F1 after visiting proper F1 Odds Comparison sites and hence, make an informed judgement for yourself.
While there are many advantages of online betting and dealing with online odds, we cannot completely deny the presence of a few advantages of offline betting either. Some of the advantages of offline betting are:
Building a reputation: It is much easier to build a reputation or rapport with the bookmaker when you are betting offline. If you build up a good reputation with the bookmaker, then the bookmaker can provide you with good odds. The anonymity of online betting prevents this from happening.
Learning from the pros: When you are visiting your local bookie, the chances are that you will be meeting many professional bettors. When you interact with them, you can learn more about how to read odds and even get tips to strengthen your betting strategy. You won’t get this advantage if you are betting from your home.
How can you read betting odds in F1?
If you want to plan your strategy on betting, you should learn how to read the betting odds presented by the bookmaker. These are the three ways in which betting odds of F1 are presented:
This kind of odds presentation is most common in the UK. The odds are presented as a fraction with a slash or hyphen between the numbers, like 8/1. The numerator shows the profit, excluding the stake, and the denominator shows the stake. So, a stake of Rs.1 has yielded a profit of Rs. 8, as per the above example. You can find the total returns in this way:
Total Return = [Stake x (Numerator/Denominator)] + Stake
Used mostly in Continental Europe, Decimal odds is much less complicated than fractional odds. It shows the odds in the form of decimals, the profit, including the stake. It is presented against Rs. 1.
Total Return = Stake x Decimal Odd Number
In a F1 race between, Hamilton vs Verstappen, if winning of Hamilton odds are at 4.0 and you stake Rs. 100, Hamilton winnings will get you Rs. 400 as a win.
These are the kinds of odds which are used in the USA. It is a bit complicated. Generally, the odds show the underdogs and the favourites by adding a plus sign before the favourites and the minus sign before the underdogs. If the favourites win by upsetting the underdog value, you get a major win, while if you underdog wins, you get a moderate win. For example:
If you bet Rs.100 on Vettel and they offset the underdogs, you get Rs. 585. If Kubica wins and you bet on them, you need to bet Rs. 660 to win Rs. 100 and get a total of Rs. 760.
F1 Betting Types
Before you begin calculating the different odds presented in the various betting markets of F1, it is important to look at the different betting types for F1. The different types presented for F1 are:
Outright betting: This is a straightforward betting type where you will be provided the odds of the different participants and you have to bet on who would be the final winner. Another subpart of outright betting is betting on a finishing position where you bet on what position a player will be finishing. If you are a newbie in the F1 betting world, it is advised that you start with outright betting.
Long-term F1 Betting: Long term betting in F1 generally means when you are betting on the total points accumulation of a player or a team in the whole season. It is called long-term betting because you have to predict which team collects most points in the whole season and not one match, and so, you have to wait for the results till the end of the season.
Live Betting: In-play betting is also quite popular in F1 betting. During in-play betting, the punter has to be quick to make decisions based on the race conditions, the timing when the driver is going for the pit, which driver is gaining advantage, etc. It is important to listen to the commentary during live betting and so, many operators try to provide live streaming for this experience.
Qualifying Bets: Many people ignore the importance of qualifying bets despite F1 having a long qualifying session. For someone trying to build a reputation in F1 betting, qualifying bets are a great way to start. You can bet on who qualifies for the first or second position.
Popular F1 betting odds
There are several different betting markets which can be explored by the punters interested in putting their bets on F1 matches. Here are some of popular betting odds in F1:
F1 Drivers Championship Odds: This is for the straightforward odds where the punter can bet on the driver who gets the most points throughout the season of the game. If the correct driver is selected, the bet will be won.
F1 Constructors’ Championship Odds: Unlike the driver-based odds, in this kind of odd, the entire team with their two drivers are considered. The team which has the most points after the finale is considered the winner.
Podium Finish Odds: In this kind of odds, the selected driver will not only win the race but will also finish on the podium. The bettor will get a great win if the driver finishes the race during the standings or stays in the top-three while crossing the line.
Driver vs Driver Match Bets: In this kind of betting, the contest is set between Driver A and Driver B and on that basis, the one who finishes higher against the other driver will be considered the winner.
Pole Position Odds: This odds is under qualifying bets where as per the qualifying rules, if a driver finishes the session 3 of a qualifying session by completing all laps in the fastest time and once the 12-minute marker is over, then, they get the pole position or the first place in the grid, hence an advantage.
Fastest Lap Odds: For this odds, the driver who completes the quickest laps during the race is considered the winner. This kind of bet can be made during the match.
If you are going for F1 betting, it will not be easy unless you opt for an F1 Odds Comparison site and find out the Best Betting Odds for F1. While it is quite rare in India to find the Formula 1 Betting Odds for India, however, many bookmakers have extended services to the Indian subcontinent. You might explore the Bookmaker Odds for F1, but along with them you need to gain a bit of knowledge about how F1 betting odds work and the different betting types. It will help you opt for the Best Bookmaker Formula 1 Odds.