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 | |||
---|---|---|---|---|
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?
Constructor | |||
---|---|---|---|
Red Bull | -1,600 | -1,600 | -1,600 |
Ferrari | +1,000 | +1,300 | +900 |
McLaren | +3,300 | +2,800 | +2,500 |
Mercedes | +6,600 | +2,800 | +2,500 |
Aston Martin | +30,000 | +18,000 | +20,000 |
VCARB | +400,000 | +50,000 | +200,000 |
Williams | +400,000 | +50,000 | +300,000 |
Haas | +400,000 | +50,000 | +300,000 |
Alpine | +400,000 | +50,000 | +400,000 |
Kick Sauber F1 | +400,000 | +50,000 | +300,000 |
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.
F1 Odds FAQs
Red Bull's Max Verstappen is the betting favorite to win the Drivers' Championship.
Red Bull is the betting favorite to win the Constructors' Championship.