F1 World Drivers' Championship Odds: Sainz Improves After Win, Verstappen Heavy Chalk

Max Verstappen ran away with the 2023 F1 Drivers' Championship, while Red Bull never gave the competition a chance for the Constructors' Championship. Here's the latest odds update for the 2024 F1 season.

Mar 26, 2024 • 15:50 ET • 4 min read
Carlos Sainz F1 Ferrari
Photo By - USA TODAY Sports

Max Verstappen and the Red Bull racing team locked up the Drivers' Championship and Constructor's Championship, respectively, for the 2023 Formula 1 season with weeks to spare, and they're odds-on favorites to win again in 2024 after back-to-back trips to Victory Lane to open the season.

Verstappen's win streak was interrupted by Carlos Sainz of Ferrari at the Australian Grand Prix, and oddsmakers were forced to adjust his odds and standing on the board considerably. 

Let's look at the latest 2024 F1 Drivers' Championship odds and Constructor's Championship odds.

2024 F1 Drivers' Championship odds

Driver Team Caesars FanDuel bet365
Max Verstappen Red Bull -1,000 -1,300 -1,000
Sergio Perez Red Bull +1,600 +2,500 +1,600
Charles LeClerc Ferrari +2,000 +2,500 +2,000
Carlos Sainz Ferrari +2,200 +2,500 +2,000
Lando Norris McLaren +5,000 +3,600 +3,300
George Russell Mercedes +6,600 +5,000 +6,600
Lewis Hamilton Mercedes +8,000 +5,000 +6,600
Fernando Alonso Aston Martin +10,000 +5,000 +6,600
Oscar Piastri McLaren +17,500 +14,000 +6,600
Daniel Ricciardo VCARB +100,000 +42,000 +50,000
Lance Stroll Aston Martin +150,000 +50,000 +100,000
Yuki Tsunoda VCARB +200,000 +50,000 +150,000
Alexander Albon Williams +250,000 +50,000 +150,000
Pierre Gasly Alpine +300,000 +50,000 +250,000
Esteban Ocon Alpine +300,000 +50,000 +250,000
Valtteri Bottas Kick Sauber F1 +300,000 +50,000 +250,000
Guanyu Zhou Kick Sauber F1 +300,000 +50,000 +250,000
Kevin Magnussen Haas +400,000 +50,000 +250,000
Nico Hulkenberg Haas +400,000 +50,000 +250,000
Logan Sargeant Williams +400,000 +50,000 +250,000

Odds as of March 26, 2024.

2024 F1 Drivers' Championship favorites

Max Verstappen (-1,000 to -1,300)

Sportsbooks were uncertain what to do regarding Max Verstappen after a rare defeat, a 19th-place result in Australia due to brake issues. He floated down, floated up, or remained the same week-over-week depending on where you look.

Verstappen is still a huge favorite after a dominant 2023, which he followed up with two wins in a row to open the 2024 season. He'll try to get back on track in the Japanese Grand Prix on April 7.

Sergio Perez (+1,600 to +2,500)

Sergio Perez's odds shot up considerably from as low as +800 as he missed a quality chance at a win after his Red Bull Racing teammate retired early in Australia. His string of two runner-up results ended with a fifth-place effort Down Under.

Charles LeClerc (+2,000 to +2,500)

Charles LeClerc was unable to capitalize on his second-place starting position in both the Bahrain GP and Saudi Arabian GP, just missing a podium with a fourth-place result in the former before taking third in the latter.

Ferrari's No. 1 driver managed his best finish of the year in the Australian GP, second, but it still feels like a missed opportunity after Verstappen's misstep.

Carlos Sainz (+2,000 to +2,500)

Carlos Sainz went into the Australian GP just two weeks removed from appendicitis to score a dramatic victory, his first since September 17 of last year. 

He entered last week's race as high as +6,600 to win the Drivers' Championship, but those odds have evaporated. 

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2024 F1 Constructors' Championship odds

The 2023 season was an all-time triumph for Red Bull, as it won 21 of 22 races. Could we see the same dominance in 2024 following their season-opening triumphs in Bahrain and Saudi Arabia?

Odds as of March 26, 2024.

Past F1 Drivers' Champions 

The 2010s began with a dynastic run for Red Bull and Sebastian Vettel, and history may be repeating itself. Max Verstappen has won three consecutive Drivers' Championships, and is favored to make it four in a row.

Year F1 World Champion Runner-up
2023 Max Verstappen Sergio Perez
2022 Max Verstappen Charles Leclerc
2021 Max Verstappen Lewis Hamilton
2020 Lewis Hamilton Valtteri Bottas
2019 Lewis Hamilton Valtteri Bottas
2018 Lewis Hamilton Sebastian Vettel
2017 Lewis Hamilton Sebastian Vettel
2016 Nico Rosberg Lewis Hamilton
2015 Lewis Hamilton Nico Rosberg
2014 Lewis Hamilton Nico Rosberg

Past F1 Constructors' Championship winners

Mercedes had won the Constructors' Championship in eight straight seasons before Red Bull finally returned to the mountain top in 2022. They were totally dominant in 2023, and have their eyes on a third straight win this season.

Years Constructors' Champion Runner-up
2023 Red Bull Racing Mercedes
2022 Red Bull Racing Ferrari
2021 Mercedes Red Bull Racing-Honda
2020 Mercedes  Red Bull Racing-Honda
2019 Mercedes Ferrari
2018 Mercedes Ferrari
2017 Mercedes Ferrari
2016 Mercedes Red Bull Racing Tag Heuer
2015 Mercedes Ferrari
2014 Mercedes Red Bull Racing Renault

How to bet on F1 futures odds

The most popular way to bet Formula One futures is by simply picking the winner of the F1 World Drivers' Championship. The champion is crowned via a points system based on the final race results of each drive. While the winner is not officially given the title until the final race of the season they can secure the championship with races remaining on the schedule. 

Another F1 futures bet is the World Constructors' Championship which is awarded to the constructor (the team that builds the components of the car) who accumulates the most points at the end of the season. In 63 seasons, only 11 times has the winning constructor not been on the same team as the winner of the World Drivers' Championship.

F1 futures odds will usually look like this:

  • Lando Norris +1,200

This means that on a $100 bet, you'll stand to profit $1,200 if Norris wins the Drivers' Championship. If it's close to the end of the season or one driver is simply that dominant, you might see a minus sign (-) ahead of their odds. 

  • Lewis Hamilton -175

This means that you would need to bet $175 to win $100 on Hamilton winning the Drivers' Championship.

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