Formula 1’s and MotoGP’s 2023 final laps have been run, with Max Verstappen running away with the Formula 1 title and Francesco Bagnaia winning the MotoGP title at the last race.
Multiple sportsbooks (commonly known as iGaming) offered diverse betting markets for customers to select odds for all Formula 1 and MotoGP races. There are common misconceptions about how MotoGP and F1 betting are similar.
This F1 race in Abu Dhabi marked the end of the thrilling F1 2023 calendar year. Its primary feature was the main domination by Max Verstappen, who enjoyed a 276-point gap to his next contender, Sergio Perez. Perez blew his chance to become the second driver to Max in the race because of a penalty.
The popularity of Formula 1 has been instrumental in the rise of motorsport betting. The unchallenged reign of the Red Bull driver, Max, and a downturn in fan favorite, Lewis Hamilton, have seen Formula 1 betting more exciting than ever.
What will 2024 have in store?
This article for beginners provides the relevant information to help you prepare for the 2024 Formula 1 and MotoGP seasons. We’ll discuss the betting options and odds for Formula 1, overview both races, and show how to bet on F1 and MotoGP races. There’s an in-depth comparison between the markets.
Formula 1 and MotoGP Overview
MotoGP and Formula 1 remain the two world’s biggest motorsport series. The fascination the individual championship drivers share for the other is remarkable. While the differences between them remain the two and four wheels, the goal is the same, minimize lap time and maximize speed.
Formula One racing is a the top form of motorsports in the world and is governed by FIA (Fédération Internationale de l’Automobile).
Hence, many sportsbooks and casinos provide impressive F1 betting odds for their customers. It also includes bonuses and promotions, as reviews from SoCeskeKasino show the best Czech online gaming sites. As it stands, players can wager on their mobile devices and still stream all the live events. Each also carries diverse betting markets, ensuring players can choose from the different types, like the race winner.
MotoGP is the world’s oldest motorcycle racing, sanctioned by the Federation Internationale de Motocyclisme. An entire race occurs within 45 minutes. The top riders are Francesco Bagnaia, Jorge Martin, Marc Marquez, Fabio Quartararo, etc. They have large fan bases and the races attract a large audience.
In Formula 1 top drivers like Max Verstappen and Lewis Hamilton have made significant names for themselves. Max has 54 wins and is Red Bull’s top Formula 1 winners. His inaugural season on the F1 circuit saw him perform well, grabbing 10 points in 19 races. However, he announced his presence the next season, winning multiple races at a record young age.
The high competition between both sports is responsible for the increased interest in motorsports betting. With the Formula 1 2024 season set to kick off in Bahrain in early March of next year, many bettors are watching how Spring Training goes in February before placing bets on 2024 races.
The Betting Industry and Its Link to Formula 1
Motorsports, like other disciplines, has a high stake in betting. Most Formula One wagers come from motorsports fans.
In the Czech Republic, these sports have a high stake in the revenue generated. The statistics indicate that the country’s sports betting revenue was about CZK11.77 billion in 2019. It increased to 32.5% from the 29.1% it recorded the previous year. A number of the leading online casinos and sportsbooks, suggested by the new Czech casino, show more customers are showing higher interest in motorsports. This is due to the exceptional rate that allows players to get more bonuses, higher odds, and statistics to wager on different drivers.
The growth of the iGaming is due to available data. F1 bets are now a regular feature on the top sports betting sites, and odds come from statistics.
Betting Odds and Options
As interest in motorsports picks up, more online casinos are introducing various customer selections. Each has multiple types of bets and markets for both the MotoGP and F1 events. A look at the F1 drivers’ standings could be responsible for the changes in the options available as races approach. Here’s a breakdown of the wager types for these races.
It is the most common F1 bet type. It also applies to MotoGP events. Betters use it to predict the driver who ends up first in a Grand Prix. Only a small number of drivers have a chance of winning. In the 2023 Max Verstappen was usually the odds on favorite to win. Before 2021 Lewis Hamilton was usually the favorite, but as he ages, the wins are hard to come by. Others in the race carry lower probabilities that reflect the F1 drivers’ standings, giving bettors options to win big if a long shot driver comes home in first..
The podium finish bets allow you to select a driver to finish in first, second, or third positions. The F1 and MotoGP odds for this bet type are lower than the regular race winner wager. However, most F1 wins vary on this bet regardless of where your preferred racer finishes. The odds attached to this bet are good if the qualifying times of the entire field are close.
Fastest Lap in F1
By “F1 fastest lap,” we mean a wager on which driver will turn the fastest lap time anytime during the race. Ever since Formula One began awarding bonus points to drivers whose laps were the fastest, drivers have an incentive to push for the fastest race lap.
Pole Position in MotoGP
Similar to Formula 1, the pole position bet means backing a rider to have the best qualifying time and start the race in the first qualifying spot. In MotoGP or F1 racing, qualification determines the starting grids and set the day prior to the main event. Pole position does not guarantee that a rider will win the race the following day.
Because Max Verstappen is the best driver and wins so much, top online casinos list him at -125 odds (negative number). It means that a $125 stake would pay out $225. Hence, a $100 profit.
In other words, if the drivers you’re betting has -110 odds, you need to wager $110 to win $100. If your team has -150 odds, you must risk $150 to win $100.
If the odds are positive (+), for example, +200 signifies the amount a bettor could win if wagering $100.
If the bet works out, the player would receive a total payout of $300 ($200 net profit + $100 initial stake).
When considering odds, it’s essential to consider all the factors. For example, the driver’s performance in the current year, his or her past performance at a given track, does the driver crash out a lot, race conditions and starting position.
In MotoGP, the danger is higher and crashes more frequent. Many times a rider is racing hurt, and this could affect their performance and must be taken into account.
The rising excitement with the new twists and turns from MotoGP and Formula 1 race events puts the sport on the world map. In the past, Lewis Hamilton was the undisputed champion, winning the title 7 times and still competing for more. However, Red Bull’s Max Verstappen is taking over and has won the championship three straight years.
Francesco Bagnaia has won the MotoGP title two years running.
Who will it be next year?