The 2023 Formula 1 season is underway, and the first two races looked pretty similar to what we saw in 2022.
Continuing the dominance of the '22 season, the F1 odds board features Max Verstappen and Red Bull both already entrenched as massive odds-on favorites following two impressive races.
Here are the latest Drivers' and Constructors' Championship odds, ahead of next weekend's Australian Grand Prix.
F1 World Drivers' Championship odds
| Driver |  |
 |
|---|---|---|
| Max Verstappen | -550 | -500 |
| Sergio Perez | +1,000 | +1,000 |
| Fernando Alonso | +1,400 | +1,200 |
| Lewis Hamilton | +2,800 | +2,500 |
| Charles Leclerc | +2,800 | +2,500 |
| Carlos Sainz | +6,500 | +5,000 |
| George Russell | +6,500 | +5,000 |
| Lance Stroll | +25,000 | +25,000 |
| Esteban Ocon | +100,000 | +50,000 |
| Pierre Gasly | +100,000 | +50,000 |
| Lando Norris | +100,000 | +200,000 |
| Oscar Piastri | +100,000 | +200,000 |
| Kevin Magnussen | +100,000 | +200,000 |
| Nico Hulkenberg | +100,000 | +200,000 |
| Guanyu Zhou | +100,000 | +200,000 |
| Nyck de Vries | +100,000 | +200,000 |
| Valtteri Bottas | +100,000 | +200,000 |
| Yuki Tsunoda | +100,000 | +200,000 |
| Alex Albon | +100,000 | +300,000 |
| Logan Sargeant | +100,000 | +300,000 |
Odds as of March 21, 2023.
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Favorite to win the 2023 F1 World Drivers' Championship
Max Verstappen (-500)
After one of the most dominant individual seasons in F1 history, Verstappen is again first in the championship race through two events, destroying the field in Bahrain and then finishing second at Jeddah... despite starting 15th.
The Dutchman is running at a pace that nobody else can remotely match, hence he is already a -500 favorite after just two races.
Sergio Perez (+1,000)
The only car even close to Verstappen's league is, well, his Red Bull teammate. After finishing second at Bahrain (by almost 12 seconds), Perez won the Saudi Arabian Grand Prix by just over five seconds, thanks in part to Verstappen starting near the back of the pack.
Checo does still trail Verstappen in the points standings, however, by virtue of his teammate stealing a point for the fastest lap in Saudi.
Fernando Alonso (+1,400)
At 41 years old, Fernando Alonso still has it.
An offseason of Aston Martin hype has shown early promise, with Alonso taking the 99th and 100th podiums of his career to start the season.
Despite showing that he can compete with (and so far, defeat) Ferrari and Mercedes, a title challenge still seems a long way off — Alonso was not within 20 seconds of the winner in either race.
F1 World Constructors' Championship odds
The 2022 season was an all-time one for Red Bull, as it won 17 of 22 races, totaled 28 podiums, and won the title by 205 points.
The '23 season? Same dominance, with Red Bull finishing 1-2 in each of the first two races, moving from -500 following Round 1 to a whopping -2,500 after two events.
The Constructors' Championship is already a seemingly foregone conclusion, but the real challenge is for who will be No. 2, with a season-long battle expected between Ferrari, Aston Martin, and Mercedes.
| Constructor | |
|
|---|---|---|
| Red Bull | -2,500 | -2,000 |
| Ferrari | +1,800 | +1,600 |
| Aston Martin | +1,800 | +2,000 |
| Mercedes | +2,200 | +2,000 |
| Alpine | +50,000 | +50,000 |
| McLaren | +100,000 | +150,000 |
| Alfa Romeo | +100,000 | +200,000 |
| AlphaTauri | +100,000 | +200,000 |
| Williams | +100,000 | +300,000 |
| Haas | +100,000 | +300,000 |
Odds as of March 21, 2023.
Past F1 World Champions
The 2010s began with a dynastic run for Red Bull and Sebastian Vettel and history may be repeating itself. Max Verstappen has won consecutive Drivers' Championships, with Red Bull nearly securing a 1-2 in 2022.
| Year | F1 World Champion | Runner-up |
|---|---|---|
| 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 |
| 2013 | Sebastian Vettel | Fernando Alonso |
Past F1 World Constructors' Championship winners
Mercedes had won the Constructors' Championship in eight straight seasons, before Red Bull finally returned to the mountain top in 2022.
| Years | Constructors' Champion | Runner-up |
|---|---|---|
| 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 |
| 2013 | Red Bull Racing Renault | Mercedes |
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 a -550 betting favorite to win the Drivers' Championship.
Red Bull is a -2,500 favorite to win the Constructors'.
