With outright markets and no less than 20 races to bet on during the Formula 1 season, there are plenty of opportunities to bet on the sport. But which race markets will give you the best opportunity to make a profit when betting on F1? Here are a guide to the most popular Formula 1 betting markets that will be available to punters all season long…

Read on below for our Formula 1 betting guide.

Race Winner

Like many of the Formula 1 betting markets you will read about here, the Race Winner market is extremely straightforward because you are simply betting on who will win the race. This odds in this market is available nice and early before every race, but if you want to see how a driver performs in practice and/or qualifying before placing your bet you can, because this pre-race market is available right up until the race gets underway. The catch is the odds available may not always be particularly appealing due to the fact there are usually only a handful of drivers that realistically have a chance of winning the race if nothing strange occurs. But if the top few drivers are being competitive, even the favourite can be backed a reasonable odds.

Top 3 Finish

When betting on this market you are backing a driver to finish on the podium – it does not matter which position. The likes of Lewis Hamilton and Sebastian Vettel will be short-priced in this market, but that does not mean there are some good options to be had and we did enjoy several winners when betting on Top 3 Finish market during the 2017 season, with Daniel Ricciardo providing the majority of them at stand-out odds of 7/4. It does not matter if the driver you back finishes first, second or third – he just needs to be standing on the podium at the end of the race for this to be a winner.

Top 6 Finish

This market works in just the same way as the Top 3 Finish market, but instead you are backing a driver to finish in the Top 6. Of course the likes of Hamilton and Vettel will be unbackable here, but even beyond that you will have to settle for short odds if you want to back the likes of Ricciardo and Red Bull team-mate Max Verstappen. This is a market where you turn to a driver lower down the F1 pecking order – we went with Sergio Perez in last season’s Russian Grand Prix and he came up trumps to deliver us a 7/2 winner when we backed him to finish in the Top 6.

Read more: Official Formula 1 website

Fastest Lap

This market is all about speed. It does not matter where the man you back finishes – in fact, it does not matter if he finishes the race at all. As long as the driver you back completes one full lap of the race quicker than every other driver manages, your bet will be a winner. A tidy profit can be made when backing even the best drivers due to the nature of this market. A car and driver does not need to be competitive for the duration of the race, the whole package just needs to come together for one go around the circuit.

Pole Position

This market pays out before the race itself because you are betting on who will claim pole position in qualifying on the Saturday. The usual suspects – Hamilton and Vettel – are likely to be heading up this market all season long, but that does not mean you cannot get decent enough odds when backing one of the best to start Saturday’s race from the front row. This market can lead to a decent return, but it is not one that is renowned for securing big pay-outs, especially when you consider Hamilton has been a dominant force in qualifying in recent years.

Gambling Awareness

We are committed to responsible gambling and have a number of ways to help you stay in control and keep gambling fun. You must be 18 years old or over to gamble on this site. Please bet responsibly. BeGambleAware.org.

Read more: Our latest Motorsport and Formula 1 tips and best bets