Formula 1 Betting Odds 2023

The 2022 Formula 1 season is over, so our attentions are turning towards the 2023 season. With a record 23 Grands Prix planned, the 2023 campaign will the biggest ever in the sport’s history. If you fancy yourself as an F1 expert, you may want to have a go at predicting the 2023 season.

We’ve compiled all of the odds from a leading bookmaker to show you what odds have been placed on every team and driver in 2023. 

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Constructors Championship Winners

Unsurprisingly, Red Bull are the favourites after an excellent 2022 season. Mercedes though, aren’t far behind the reigning champions. Ferrari are also in the mix, but at significantly lengthier odds than the top two. 

Alpine and McLaren are the next closest, but haven’t been given much of a chance by the betting companies. Williams have been given the least chance of being champions come the final round of the season.

Red Bull +100

Mercedes +150

Ferrari +400

Alpine +10,000

McLaren +10,000

Alfa Romeo +25,000

Aston Martin +35,000

AlphaTauri +50,000

Haas +100,000

Williams +200,000

Bahrain Grand Prix winner

The first race of the 2023 season takes place in Bahrain in March. We’ve got a long way to go until the Grand Prix begins, we haven’t even seen any of the 2023 cars revealed yet. However, if you fancy your chances, odds are available for a flutter on the winner of the curtain raiser in ‘23.

World Champion Max Verstappen is the heavy favourite. Next up is the most successful driver in the history of the sport, Sir Lewis Hamilton, with 2022 winner Charles Leclerc in third. George Russell won his first race in Brazil this year and the Brit is fourth favourite to take the chequered flag around Sakhir.

Max Verstappen +125

Lewis Hamilton +350

Charles Leclerc +450

George Russell +650

Sergio Perez +1,200

Carlos Sainz +2,000

Lando Norris +10,000

Esteban Ocon +20,000

Fernando Alonso +25,000

Pierre Gasly +25,000

Valtteri Bottas +30,000

Kevin Magnussen +50,000

Lance Stroll +50,000

Nico Hulkenberg +50,000

Oscar Piastri +50,000

Alex Albon +100,000

Guanyu Zhou +100,000

Nyck de Vries +100,000

Yuki Tsunoda +100,000

Logan Sargeant +100,000

2023 Driver’s World Champion

The constructors’ championship is important, but it’s the driver’s championship where the real prestige is. Max Verstappen is the heavy favourite to win a third title in a row, with no other driver close to the Flying Dutchman in the odds table.

Lewis Hamilton is second-favourite and would become the sport’s first-ever eight-time champion if he wins the crown in 2023. Charles Leclerc, George Russell and Carlos Sainz round out the top five, as all are aiming to win their first championship.

Max Verstappen -125

Lewis Hamilton +350

Charles Leclerc +700

George Russell +900

Carlos Sainz +2,500

Sergio Perez +2,500

Lando Norris +10,000

Esteban Ocon +20,000

Fernando Alonso +20,000

Kevin Magnussen +50,000

Lance Stroll +50,000

Nico Hulkenberg +50,000

Oscar Piastri +50,000

Pierre Gasly +50,000

Valtteri Bottas +50,000

Alex Albon +100,000

Guanyu Zhou +100,000

Logan Sargeant +100,000

Nyck de Vries +100,000

Yuki Tsunoda +100,000

Our betting picks

Out of these three categories, we’re going to give our choices for the best bets available. For the constructor’s championship, Mercedes are a solid bet in our opinion. They’re second favourites, and arguably have a faster and more consistent driver combination than Red Bull. 

While Max Verstappen is the favourite for the driver’s championship, it is definitely possible that Mercedes can beat Red Bull to the constructors crown. Given their late-season form, Mercedes could outscore them all come the end of the season.

Likewise, we’re going to go for a Mercedes driver to win the driver’s championship. Not Hamilton though, as his odds are rather short. We’re going to go with George Russell, as he beat Hamilton in the driver’s championship and got the Silver Arrows’ only win in 2022.

Lastly, a good outside bet for the winner in Bahrain would be either Charles Leclerc or George Russell, both of which have shown excellent speed around here in recent years. Sergio Perez is worth a shot as well, as he has historically gone well in Sakhir.

How to Bet on F1

You can bet on F1 at various sportsbook sites, depending on where you live. If you search where you live + sportsbooks, you should find some lists of options available in your area.

There are many things to consider when choosing an F1 betting site. For starters, make sure the site is available in your location. In addition, you’ll want to consider things like the competitiveness of odds, the sign-up bonus, user experience, and types of F1 wagers offered.

The team at F1 Chronicle uses the online sportsbook BetUS when we bet on F1. You can use our code JOIN125 to get a 125% bonus at sign-up too (though please note this is only for US residents, they’re not currently taking new UK customers).