With its history of daredevil drivers and innovative engineers, it’s no wonder that Formula 1 has enthralled millions around the world. With more and more bookies getting in on the action, F1 is also fast becoming a popular sport to bet on. As the second half of the Grand Prix season is only a few short weeks away, now is the time to figure out how to bet safely on the largest team sport in the world and the potential pitfalls to be found along the way.
Not all bookmakers were created equal. Some will offer a wide variety of options, allowing you to place bets on everything from top drivers to top three finishes and winning margins. Others simply provide the option of betting on a championship winner. If you don’t like to risk too much, some bookies will also offer free bets for opening an account with them. With so much choice available, it’s crucial to figure out exactly what you want to do before registering with any bookmaker as betting incorrectly could potentially be costly. If all of this is new to you, it’s a good idea to check sites such as PerfectBet.co.uk for beginner’s guides.
In any sport things don’t always go to plan and Formula 1 is no exception. With constantly changing regulations, freak weather patterns and different tracks playing to different strengths, it’s important to be aware of likely scenarios. It’s however doubly important to check the terms and conditions about what happens to your bet in case of a DNF or a pit-lane start.
Before placing any bets make sure your money is protected. Do not place any bets unless the bookmaker is approved by the UK Gambling Commission and it’s generally considered a good idea to avoid betting to try and make money back, it never works.