Betfair Formula 1
- Available for bettors under the Motor Sport section of Betfair Exchange
- Various competition is available for bettors to bet on
- Bettors have the option to either back or lay any Formula 1 outcome
Betfair Exchange continues to give better endless opportunity to bet on their very sports and Betfair Formula 1 is another great example of this. Formula 1, undoubtedly, is the highest class of single-seater auto racing sanctioned by the Fédération Internationale de l'Automobile and owned by the Formula One Group. Among the premier forms of racing around the world is the FIA Formula One World Championship which had its first season in 1950. Bettors interested in betting on Formula 1 one Betfair Exchange can do so with the help of Motor Sport section of the Exchange, where there are a number of competitions including Formula 1.
Betfair Formula 1 Explained
Under our article on Betfair Exchange, we explained the huge advantage and opportunities that a betting exchange like Betfair creates for bettors all around the world. There is little to no restriction on who can join the exchange as membership registration and contact is opened to people from all around the world. This translates to a very robust bettor population on Betfair Exchange. A robust bettor population implies that market activities are always flowing. Market activities in the case of Betfair Exchange would mean trading and making bets, making back and lay bets on numerous sports and games offered on the exchange. One of these numerous offers is Betfair Formula 1.
A little Interesting History
Simply put, Formula 1, or F1 or Formula One, is an international series of motor racing that was inaugurated in the year 1950. Participants who partake in this great sport often represent themselves in the World Drivers Title and they also drive for their constructors. Formula 1 has experienced a growth in popularity over the past couple of years and this popularity seems to grow even stronger in recent years. One of the mysteries about this great sport is that one would think that picking the fastest driver accounts for winnings.
Well, convergence on professional bettors’ take on this is that winning money in Formula One clearly surpasses merely being able to pick the fastest driver. The success of Formula One as a good sport has a huge connect to Bernard Ecclestone style of management. Comparing what Formula One was when he took over management of the sport’s commercial rights in the early 1970s and to what Formula One is now, great success and growth has been recorded. Contrary to what it used to be, Formula One is now a multi-billion-dollar industry, having more than 600 million viewers watching each Grand Prix from all around the world.
Formula One’s success and popularity can be traced to the huge betting opportunity it now offers. There are huge amounts of money being traded on Betfair Formula 1 on variety of its markets. Another reason coupled with the huge betting opportunity is the fact that Formula One presents itself as a very simple sport that offers a very simple betting proposition. Something like this: who can drive their car at a set distance, in the fastest time, in twenty races around the world, between March and November”.
The famous grand prix
In discourse of Formula One, grand prix is the latest huge deal. Grand prix takes place over a weekend. It always features two free-practice sessions on the Friday preceding the weekend, and another free-practice session on the Saturday. This is followed by qualifying later that same Saturday. A typical Grand Prix consists of twenty-four drivers. The qualifying process is carried out in a three-round elimination process. Each round lasts ten minutes. In each round, seven drivers are removed from qualifying and placed towards the rear of the starting grid after each of the first two rounds. Consequently, this leaves the last ten drivers to fight their way through for the ten most prominent starting positions in the final round. While two free-practice sessions are held on Friday, one free-practice session and qualifying held on Saturday, the race takes place on the Sunday.
Betfair Most Popular Markets for Formula 1
Betfair offers a great deal of opportunity for bettors to make some tangible winnings from Formula One and have some quality fun in the process. Among the markets available for Betfair Formula 1, five stood out. They include the following:
- Grand Prix Overall Qualifying.
- Grand Prix Winner.
- Grand Prix Fastest Lap.
- Grand Prix Podium Placing.
- Drivers’ Championship Winner.
For almost every sport bet offered on Betfair Exchange, there is an option for bettors to bet in-play. This basically means that bettors can make their bets as the sport is going on; live; while the game is being played. As at the time of writing this article, among the top markets under the Motor Sport section of Betfair Exchange for which Formula One featured included F1 Outrights 2019 and F1 British Grand Prix. Highest amounts are often matched on markets like Winners of Drivers Championship and Winner of Constructors Championship.
How to bet on Betfair Formula 1
For better understanding, let us discuss how betting on “F1 Outrights 2019 – Winner – Constructors Championship” works. Recall that we mentioned earlier in this article that Formula One drivers often represent themselves in the World Drivers Title like tennis and golf players and in other cases, they represent their constructors like Cricket and club football players. Among the leading constructor of automobiles are Mercedes, Ferrari, Red Bull, McLaren, Renault, and lots more. These automobile companies find profits from these businesses through bonuses, payment as best long-standing teams, for finishing first before others and not just via the prize money. In some cases, bettors can select a market of say which driver will win the race, in which case bettors will choose the F1 Outrights 2019 – Winner – Drivers Championship market.
Let’s assume in this case that the bettor is more interested in which constructors will emerge the champion for grand prix. Such bettor will consider the F1 Outrights 2019 – Winner – Constructors Championship market. In this market under the F1 Outrights 2019, bettors are provided with a range of options, constructors, from whom they can select and place their bet. These constructors have drivers participating in the race. For Betfair Formula 1, bettors can either back or lay any outcome. In other words, bettors can bet for Ferrari to emerge as Constructor Champion or bettors can bet against McLaren to not emerge as Champion.
How it Works
It works in two ways, majorly.
- One, you as a bettor can choose to take the F1 Outrights 2019 – Winner – Constructors Championship odds that are offered by other players on Betfair Exchange.
- You can set the F1 Outrights 2019 – Winner – Constructors Championship odds for other Betfair Exchange players to bet on if you have reason to believe that a particular outcome will not happen.
The sport is fairly that simple. Select a market, and then choose either to back or lay the bet. Backing a bet means you are betting for it while laying a bet means you are betting against it. At any given time, Betfair Exchange will provide players the number of selections on which players can back or lay bet on.
Some Tips and Trading Strategies for Betfair Formula 1
In betting, even the professionals who often get almost all their predictions right have some principles and strategies that they strictly adhere to, if next winnings were to be made. From the pro perspective, the following are some tips and trading strategies for betting Betfair Formula 1:
- Do not over-bet the drive on pole.
- Bettors are advised to be well-informed, especially if In-Play betting is the case.
- Smart Betfair Formula 1 bettors would know better to acknowledge media reports and rumours and/or base their decisions on them.
- It is wrong to assume that the fastest qualifier will post the fastest lap.
- It is always not very wise to over-commit in the early stages of a season.
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