Welcome to Live Formula One, the leading betting on F1 resource site online. You will find top predictions, tips and strategies to cover all Formula One races over the course of the season. The 2012 season is scheduled to start on March 18th in Melbourne, Australia.
For our F1 betting tips, follow our blog as we cover each update and what it will mean from a betting perspective. We provide tips and analysis for every race, and you can check our F1 betting blog throughout Grand Prix weekends to check latest changes, updates and analysis to make informed F1 betting decisions.
2011 is tipped to become one of the most exciting Formula One betting seasons yet, coupled with betting strategies that can potentially fill your wallet, we are all set for a season filled with excitement and profits.
Place Your F1 Betting Strategies
Although there are 24 cars on the field. Only a few cars are capable of winning races. This makes Formula 1 racing one of the easiest events to be make money on betting.
Due to the nature of motor sport, in order to win, significant amounts of money must be invested in research and development of each car and it’s components. Hence teams such as Ferrari and McLaren win races regularly. This is because those are the teams with the larger budget. In the recent years there are less renowned teams such as Brawn GP and Red Bull winning races. This is due to both if these Formula 1 teams seeing a significant increase of their budgets in recent years.
Usually throughout a season, two to four teams will cover all race victories. There are two drivers in each team, hence each race it is all about picking out the race winner from the 4 to 6 drivers on the field that are most likely to be in the winning position.
As with every Formula One betting season, there are a variety of bets that you can place. Either you can take your chance on the Driver’s Championship or you can back your choice in the Constructors Championship.
Single or combination bets can be placed on either of these championships, alternatively you might prefer to lay your money on the outcome on any of the qualifying stages or perhaps a fastest overall laps result.
When is the Best Moment to Place Bets On F1 Grand Prix Weekend?
What goes in your mind just before you place a bet?
“How much will I win?”
“How much will I lose?“
“Am I absolutely sure? Have I missed out on any tip?”
“Will the odds go higher or lower after I have placed the bet?”
“Should I place the bet now? Or should I wait for better odds?”
Do you ask yourself these questions before you place bets? (read more)
Follow these Golden Rules and Best Practices for Betting on F1:
Remember that there are best practices to follow whenever you are betting on F1 races, the first and most important rule is this:
Whenever it is wet, leave your money in your pocket for another day
Whenever it rains, the number of variable factors to the outcome of a race increases dramatically. It is all about being on the right tyres at the right time, The lap time differences between having the right tyres for given condition and the wrong tyres for the given condition are significant. Drivers are also more prone to making mistakes.
This shows the importance of thorough research on the race. The later the bet is placed, the more information there is available (ie. Most recent local weather update), and hence rational betting decisions can be made. This means the higher probability of winning bets. However, the later that a bet is placed, the odds might mean that there will be less of a return.
The basis of any type of successful sports betting lies in two major factors. The first is research so that decisions made are the most informed possible. The other necessary element is discipline.
Gambling is not a good habit.
Probability shows dealers (bookmakers) have much higher chances of winning. However there are few occasions when the probability is on the players’ side. As the nature of motor racing, it is always the major teams in the championship that win races. Therefore this makes the race results predictable.
Leave Emotions At The Door
This is a quote from the movie Ocean’s Eleven, and it is true when it comes to gambling of all types. Never ever place a bet on a driver/team truly because “that is my favourite driver/team”. Decisions should be rational and informed. Emotions do not have a part in play in successful gambling and this applies to F1 betting too.
Research
In order to make the most accurate prediction, thorough research on the race must be conducted. This includes weather forecast, tyre choice, strength/weakness of the car/driver, the possible race strategies and the odds provided by the bookmakers.
Together these elements can allow the final betting decisions to be made rationally, and thus the probability of winning profits through betting on F1 increase.
Odds Conversion
There are two main odds presentations by bookmakers – fractional and decimal.
Converting these odds to the ones you are familiar with could be confusing. Some bookmakers have the odds display in these two options, but if you are not sure how to convert them into each other, here is a how to guide.
Fractional odds are widely used by bookmakers in United Kingdom. It is the traditional method of odds presentation.
To convert fractional odds to decimal odds, simply take the numerator and divide by the denominator of the fraction, then add 1. For example, if the fractional odds of an event was 2/1. To convert into decimal odds, take 2 divide by 1 then add 1, the decimal odds would be 3.
Decimal odds are used by bookmakers in Canada, Australia and Europe. Decimal odd is the simplest way to help one understand the pay off of the bet. The product of the odds is the outcome of the investment. The odds on this website are represented in decimal odds.
By reversing the mathematical procedure of fractional odds to decimal odds conversion, fractional odds can be obtained. This is done by firstly deducting the decimal odds by 1, then convert the decimal into fraction. For example, if the decimal odds for the event was 1.50. To convert into fraction odds, deduct 1 from 1.50, then convert 0.50 into fraction – which is ½.
The odds also reflects the probability of winning the bet. Simply by reciprocating the decimal odds then multiply by 100%, the probability of the event is obtained.
For example, if the decimal odd for an event was 4.00, the probability of the bet paying off is simply 1 divide by 4, then multiply by 100%, which is 25%.
The bookmaker’s odds should be interpreted as the probability instead of the reward for investment. The higher the numerical value of the odds, the lower the probability of winning the bet. Punters should always keep this in mind.
