Formula 1 betting requires wagering on the result of the races. Betting styles can be completed through online sportsbooks, betting exchanges, and traditional bookmakers. Bettors can test their money on which driver they believe will win the race outright, in addition to other challenges, including podium finishes, fastest lap times, and more.
There's no date for when betting on Formula 1 first started; however, it can be assumed that betting on the sport started at the inception of the sport itself. Something to note is that in a book called "A History of Gambling" by Tony Bloom, Formula 1 betting was mentioned, discussing how bettors have been betting on many sporting events for centuries, including racing.
So, Formula 1 bookmakers are believed to have begun in the 1950s. Since its inception, it has only become more popular as time has gone on, especially with the creation of internet-based sports betting.
Formula 1 betting is one of the most popular forms of sports betting around the world. Betting on the sport is one of the most popular bets globally, and bettors love to place wagers on their preferred drivers and teams.