Formula 1 or F1 is one of the most popular sports out there. What’s more, in the last decade or so, F1 betting has become extremely popular as well. Formula 1 betting is highly prevalent in Canada where F1 takes its usual trip in June to the cultural city of Montreal for the annual Canadian Grand Prix at Circuit Gilles Villeneuve. This year’s event promises to be an exciting affair, and we’re looking forward to it.

Formula 1 betting is a big business for Canadian online bookmakers, which is why they provide bettors with a plethora of markets that include the winning driver, the podium position, the pole position, the winning team, etc. Also, bettors can guess which drivers will finish in the top three or in the top six at the end of the season.

Read on to learn about the best Formula 1 betting tips and the most popular Formula 1 betting markets in Canada. You’ll find everything you need to start placing Formula 1 bets.

Formula 1 Betting Markets

The fastest cars in the world, glamorous racing locations, and thrilling rivalries — Formula 1 has plenty of excitement to offer to sports fans. But F1 offers a huge range of betting markets too, which makes it a lucrative and attractive sport among online bettors. Let’s take a closer look at some of the most popular Formula 1 betting markets.

Formula 1 Drivers World Championship Bets

This is one of the most straightforward betting markets in Formula 1. Basically, punters are trying to guess which driver will win the Championship. This title is awarded to the driver who accumulates the most points throughout the racing season. You can bet on this Formula 1 betting market throughout the year.

F1 Constructor Championship Bets

Just like the previously mentioned market, Constructor Championship bets let you guess which team will finish the racing season with the most points. Ten teams with two drivers each are competing in the 2019 Championship.

Betting on Podium Finishers

As the name suggests, punters’ job is to predict which driver will finish the race in the top three or ‘on the podium’. It doesn’t matter whether the selected driver wins the race or finishes in the 2nd or 3rd position — he just has to be the one standing on the podium when the race is finished.

For this type of Formula 1 betting market, it’s not a good idea to bet on the driver who will most likely win the race, since the odds are probably going to be low. Instead, you can pick a driver you think can finish 2nd or 3rd and get better odds.

F1 Matchup Bets

This is undoubtedly one of the most appealing Formula 1 betting markets. Basically, the bookmaker provides an offer that consists of two to five drivers. The bet is won if the selected driver ranks higher than other drivers from the group. These bets can be fun to make and they often come with handicaps, providing more ways to find value. Betting sites usually offer up to 15 different pairs (matchups) per race.

Formula 1 Betting Tips and Strategies

If you want to make money on Formula 1 betting, there are plenty of different strategies and techniques you need to utilize in order to improve your understanding of the sport.

Check Out the Weather Forecast

The weather plays a major role in the outcome of F1 races. Unfortunately, rain has caused some of the most tragic incidents in the sport’s history, as well as some shocking results. You must take into account which drivers and vehicles are best suited for wet and unstable weather conditions. From the current drivers, Lewis Hamilton is the best in the business when faced with harsh weather conditions.

Grid Position

When it comes to the outcome of the race at certain Grand Prix tracks, the grid position plays a huge role. For example, the Monaco track is known as one of the windiest and twistiest tracks where drivers can easily crash and hardly overtake another driver since there is only one clear overtaking opportunity throughout the lap. On the other hand, the Canadian Grand Prix offers overtaking opportunities on almost every corner.