Formula 1 racing is the richest and most important motorsport league in the World.  Millions of fans around the globe consistently watch and follow the drivers and teams through 19 races, many of which are held in exotic locations.  OddsJet compares F1 Grand Prix betting odds for every race on the calendar from several reputable & licensed Australian betting sites that all offer AUD accounts.  This F1 odds comparison allows OddsJet to display the best F1 race odds which helps Australian bettors to maximize their potential returns. 

OddsJet also provides the best odds to Australian bettors for the most popular long-term F1 betting markets.  This allows you to find your best potential returns through comparisons of F1 Drivers Championship winner odds and F1 Constructors Championship winner odds.

Formula 1 Race odds explained  

To win the race

This is the main Formula 1 race betting market.  Here you simply select the driver that you believe will win the given race.  Know that these figures are highly affected by the F1 qualifying times that are set on the day prior to the race.  When a top driver that is normally a heavy favorite establishes a great time for a top qualifying position, the race odds for that driver will go down and pay less.  As such you may be able to get higher odds on your favorite driver to win the race if a wager is placed before qualifying.  This of course comes with the risk of a bad qualifying session that could put them further down the starting grid.  If you have faith in the driver and the team to put in a good qualifying session that will lead to a great race result, you may be able to get better odds with a wager placed before the qualifying session.   

Examples of F1 race odds expressed in American, Decimal and Fractional formats

For American odds format, there are two sets of expressions to remember, but both involve the figure of $100. First, negative numbers express odds below even-money.  Given the number of participants in a race, one will rarely see race odds this low.  Thus, most of the odds are positive signifying odds that are above even-money.  In this case, the odds express how much potential profit would be returned on a $100 wager.  For example, when you see odds of +250 on a driver like Lewis Hamilton to win the Australian Grand Prix, you would need to stake $100 in order to potentially receive a profit of $250, yielding a total possible return of $350.

With Decimal odds format, know that the odds express the full amount that would be returned on your successful wager including the stake amount.  For this, simply multiply the Decimal odds by the stake. For example, if Sebastian Vettel is listed at 7.95 to win outright, a $100 bet would return a total of $795 including your stake, so the profit would be $695. 

For Fractional format, the odds express the amount of potential profit that will be returned on a wager.  For example, with a wager of $100 and odds of 7/1 on Daniel Ricciardo to win the race (said seven-to-one), one could see a profit of $700 (7 divided by 1, multiplied by $100) plus the stake amount for a total return of $800.  

Betting on the Australian Grand Prix

Since 1985, the Australian Grand Prix has been part of the Formula 1 World Championship and is currently held at the Melbourne Grand Prix Circuit at Albert Park in Melbourne.  The Australian Grand Prix has been held as part of domestic racing competitions in Australia since 1928.  The race is now usually held in late March as the first race of each Formula 1 season.  Thus, Australian Grand Prix betting odds tend to be available in mid-March, a week or two prior to the race.

Past Winning Drivers of the F1 Australian Grand Prix

If you placed a bet on these drivers to win the Australian GP in these years, you won your bet.