The updated F1 Championship odds didn’t move much despite the shocking result at the Australian Grand Prix. The best sports betting sites still expect an easy victory for Max Verstappen.
The reigning champion is leading the way in the latest F1 World Championship odds, but can someone stop the flying Dutchman?
The next start should tell us a lot. The 2024 F1 season will conclude on Dec. 8 at the Yas Marina Circuit in Abu Dhabi. If Verstappen doesn’t win a second race in a row, there might be something
2024 F1 Championship Odds
The following F1 odds to win championship are courtesy of Bovada:
| DRIVER | ODDS |
|---|---|
| Max Verstappen | -1100 |
| Sergio Perez | +1600 |
| Carlos Sainz | +2000 |
| Charles Leclerc | +2000 |
| Lando Norris | +3300 |
Max Verstappen remains the odds-on favorite to win the 2024 drivers’ championship at the best F1 betting sites. Verstappen opened the 2024 F1 season as a -550 favorite to win the title.
Through three events this season, Verstappen’s F1 Championship 2024 odds are now down to -1100 at Bovada. Currently, the reigning champ has an implied probability of 91.7% to win his third consecutive F1 title.
Verstappen’s Red Bull teammate, Sergio Perez, has the second-best odds to win. However, at +1600, “Checo” is well behind Verstappen, with an implied probability to win the championship of 5.9%.
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F1 Driver Championship Odds
Last season, Max Verstappen and his Red Bull team rolled over the competition as a -140 pre-season favorite. Despite a 58.3 percent implied probability to win, Verstappen looked like he had a 95 percent chance within weeks of the first race.
Verstappen’s Red Bull crossed the finish line ahead of the grid in 19 of 22 races for 575 points. The 26-year-old Dutch phenom captured his third world title two months prior to the season finale in Abu Dhabi.
As I noted, at Bovada, Verstappen is currently a -1100 betting favorite to win the 2024 F1 World Drivers’ Championship. While these are impressive and overwhelming odds to win, it’s the first time in two weeks that F1 title odds have been available to wager on.
Verstappen only lasted a few laps at the Australian GP before his brakes caught fire and he had to exit the race. Following Verstappen’s DNF, Bovada opened their F1 Championship 2024 betting odds markets back up. Despite the lapse, Verstappen remains a strong favorite to win.
Verstappen 2023 Key Stats and Records:
- Most Wins in a Season (19)1
- Highest Winning Percentage in a Season (86.35%)
- Most Points in a Season (575)
- Most Consecutive Wins in a Season (10)
- 636-Second Average Winning Margin
In 2023, Verstappen finished more than double ahead of Red Bull teammate Sergio Perez’s second-place season performance of 285 points.
This season, with Verstappen at -1100 odds and Perez second at +1600, Red Bull is in fine shape to keep the drivers’ title.
There should be no reliability concerns for the team in spite of facing rare issues in Melbourne.
It’s the first time that Verstappen hasn’t won a race since starting from the pole in 19 attempts. Additionally, the DNF marks a two-year run of successfully finishing races since 2022, when Verstappen retired in the Australian GP due to an engine fire.
Shortly after Verstappen retired on Sunday, seven-time world champion Lewis Hamilton was forced to pull over with mechanical issues. The British driver, who was planning on bouncing back after a frustrating 2024 campaign, has struggled mightily.
In his final season at Mercedes, Hamilton has +5000 odds to win his eighth F1 championship. The veteran’s best finish is P7 to open the 2024 season in the Bahrain GP. Along with Hamilton struggling, teammate George Russell hasn’t finished better than P5.
At +5000, Russell has the same odds as Hamilton to win the 2024 F1 World Drivers’ Championship. Neither Hamilton nor Russell arein the top of the standings. Currently, Verstappen holds the lead with 51 points, while Charles Leclerc, 47 points, and Perez, 46 points, are within striking distance. Sainz’s win in
Types Of F1 Odds That You Can Bet On At Bovada For The 2024 season:
Winning Car
Bet on the winning team, rather than a specific driver. Each team has two drivers on the grid, so you will have two opportunities to win. This means that you will have some insurance with two drivers on your side, instead of one.
Top 3 Finish
For Top 3 betting, your driver must finish on the podium for a win. They can still lose the race, but must finish at least 2nd or 3rd to cash the wager.
Season Match & Head-to-Head Betting
Bovada’s season match bets are head-to-head wagers on which driver will finish the season with more points.
Here’s an example for the 2024 season:
- George Russell (+180) vs.
- Lando Norris (-240)
As the favorite, at -240 odds, you can bet on McLaren’s Lando Norris to finish ahead of Russell. Conversely, betting on Russell would yield a larger payout as an underdog.
As well as season-long head-to-head betting, Bovada will offer head-to-head wagering for individual races.
Constructors’ Championship
In addition to betting on drivers, Bovada allows bettors to wager on the manufacturers. You can bet on which team you believe will capture the most points and take the F1 Constructors’ Championship.
Bovada also offers head-to-head Constructors betting, similar to the season match betting between drivers.
Driver To Win # of Races
Bovada has several win bets for the 2024 season. Currently, Verstappen is -130 to win 15+ races this year. Hamilton is +125 to win +2 races and +500 to win +3 races in 2024.
There are also special bets available, where you can combine multiple drivers in one wager for a parlay bet.
Fastest Pit Stop
For the 2024 season, you can bet on which team will have the fastest pit stop. Red Bull is the betting favorite at +135 odds.
Winning Driver Thousandths of a Second Time
One of the favorite unique F1 prop bets is wagering on how many thousandths of a second the winning driver will clear the opposition. Since it’s a random chance wager, each thousandth of a second has +850 odds.
Safety Car Betting
How many races do you predict the safety car will appear in this season? Bovada has a special bet for the safety car appearing at least once in every race at +6600. You can also bet on the safety car in races at Saudi Arabia, Monaco, Spain, and Las Vegas for +110 odds.
2024 F1 Championship Predictions
Is the door open for a new contender as a result of Verstappen’s DNF in Melbourne? If you believe so, then you’ll be betting on RB20’s reliability being problematic over the rest of the 2024 campaign.
Getting more DNFs is the only way that a challenger could creep up on Verstappen. Otherwise, the Dutch driver isn’t going to have problems bouncing back and dominating the field in Japan and beyond.
Verstappen’s form this season has been nothing short of amazing before he had to exit the Australian GP. The 26-year-old Dutchman throttled the competition in the Bahrain and Saudi Arabian GP.
He opened the season with a 22.457-second win over “Checo” to provide Red Bull with a 1-2 finish on March 2. Red Bull continued their dominance in Saudi Arabia, with Verstappen defeating Perez by 13.643 seconds at Jeddah.
If Verstappen stayed on the course in Australia, would he have made it three consecutive wins in March? Ferrari was dialed in, so it would have been more interesting than Bahrain and Saudi Arabia.
Nevertheless, Verstappen most likely clears the grid for another victory. Perez wasn’t in great form in a P5 finish, but his RB20 suffered damage that undoubtedly impacted its performance.
Evident by the engine fire in 2022, the Australian GP hasn’t been a favorite of Verstappen’s. I would not categorize his recent misfortune as an indication of what’s to come for Red Bull.
I don’t think Red Bull’s ability to dominate F1 is under any doubt this season, but we might see a change in 2026. The new regulations will throw an interesting twist into the equation. Now, however, Verstappen and Red Bull should bounce back from their struggles in Australia just fine.
At -1100, most people would be reluctant to back Verstappen at the current 2024 F1 Championship odds. However, my evaluation of his chances gives him a stronger probability than the 91.7% implied by the odds. I have him closer to a 95% probability, which would equate to -1900. That makes the current price good enough to back Max.
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Sources
The mind-blowing stats that underline Verstappen’s dominance | ESPN. Retrieved From “https://www.espn.com/f1/story/_/id/39004334/the-mind-blowing-stats-underline-verstappen-dominance”
