Fans and bookies are backing their favourites for the 2023 FIA Formula One World Championship. We’ve got the latest odds and historical data tracking how the bookies’ prices have changed over time.
We also track the following betting markets – take a look to see current odds and trends over time:
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2023 FIA Formula One World Championship – Latest Developments on Odds & Favourites:
The Story Last Season – Odds Commentary on the 2022 World Championship:
- 27th July – Ferrari’s brief resurgence has come to a halt after an incredibly disappointing French GP, where they failed to reach the podium at all. Verstappen took the victory, and his lead at the top of the driver’s standings is beginning to look unassailable.
- 12th July – Ferrari secured back-to-back wins thanks to Charles Leclerc’s victory at the Austrian GP, with Max Verstappen finishing second, and Lewis Hamilton coming in third.
- 5th July – Carlos Sainz ended his long wait for a maiden GP victory at the British GP, in a dramatic race in which Sergio Perez finished second, and Lewis Hamilton came third in his home GP.
- 21st June – Verstappen extended his lead at the top of the Drivers’ Championship standings with victory at the Canadian GP. Ferrari’s Carlos Sainz finished in second, while Lewis Hamilton finished third.
- 14th June – Max Verstappen won comfortably in Baku, Azerbaijan with his Red Bull teammate behind him in second. George Russell completed the podium in third.
- 1st June – One of the highlights of the racing calendar didn’t disappoint once again, with Sergio Perez winning a thrilling Monaco Grand Prix in wet conditions. Carlos Sainz came in second, while Max Verstappen finished third.
- 24th May – Max Verstappen overtook Charles Leclerc at the top of the Drivers’ Championship standings thanks to a fantastic victory at the Spanish GP. It was a Red Bull 1-2 with Sergio Perez finishing second, with Mercedes’ George Russell finishing third.
- 10th May – Formula 1 staged the first ever Miami Open to add even more panache to their glamorous schedule, with Max Verstappen once again outdueling Charles Leclerc. Verstappen’s win was the first time anyone has won two races in a row this year. This has led to a small swing in the odds in favour of Verstappen at 54.80%, even though Leclerc is still 19 points ahead in the Driver’s Championship.
- 25th April – Max Verstappen returned to winning ways in emphatic style by completing the second grand slam of his career. Sergio Perez finished in second, to give Red Bull their first 1-2 finish since the 2016 Malaysian Grand Prix. This has turned the F1 season into an exciting two horse race, with Verstappen’s odds of winning the Driver’s Championship at 50.84%, with Leclerc barely behind him on 50.61%.
- 11th April – Formula 1 returned to Australia for the first time since 2019 at the weekend, and Albert Park became the site of Charles Leclerc’s first grand slam in the sport. Landing P1 in qualifying, leading every lap, and setting the fastest lap is so mean feat, and with a third podium and second win in three races it’s fair to say that the Monegasque Ferrari driver is a force to be reckoned with this season. Max Verstappen put in a strong performance as he worked to gain ground on Leclerc, but a late engine malfunction and fire forced the current World Champion to retire. Mercedes’ travails continued, with the until-recently dominant team failing to finish in either of the top two positions once again. The final standings have triggered a big swing in the odds tracker, with Leclerc’s odds shortening to 59.6% and Verstappen’s lengthening to 32.56%. The new regulations have certainly inspired a redressing of balances on the grid so far, but there’s still every chance that both Mercedes and Red Bull will improve their performances over this long season.
- 28th March – The Saudi Arabian GP saw a range of car problems between teams, with only 13 racers reaching the chequered flag. There was no such bad fortune for Max Verstappen this weekend, however, with the Dutchman making a very late attacking move on Charles Leclerc to take the victory from the Monegasque driver. While Leclerc remains first in the Championship on points, the win sees Verstappen take the lead in the odds tracker with odds shortening to 52.13% as Leclerc chases with 38.07%. Lewis Hamilton’s odds have lengthened again to 10.72% after a combination of his off-the-pace car and a missed opportunity to pit behind a safety car saw him finish in P10. With two Ferraris on the podium once again, Mercedes have a lot of catching up to do if they want to extend their run of Constructors’ Championships to nine in a row.
- 21st March – Our odds tracker features some exciting shifts following the 2022 Bahrain GP, with Charles Leclerc’s odds shortening by 22.93% to become the bookies’ favourite ahead of Max Verstappen. The Ferraris finished in P1 and P2, with Leclerc taking the win over teammate Carlos Sainz. Having struggled for pace, Lewis Hamilton is currently third-favourite with his odds lengthening by 11.86% despite his podium finish. While Hamilton landed P3, with George Russell in P4, the Mercedes drivers’ strong finish was largely enabled by Red Bull’s dual-retirement late in the race. Defending Champion Verstappen was in fine fettle, challenging Leclerc for P1 throughout the race, but unfortunately both he and Sergio Pérez left Bahrain without any Championship points. Special mention goes to Kevin Magnussen, who only recently replaced Nikita Mazepin; the Dane not only secured Haas’s first points finish since 2020, but did so in style by finishing in P5.
- 15th March – With new regulations and a brand-new World Champion, all eyes were on testing last week as the ten Formula 1 teams unveiled and showcased their new cars’ capabilities. Questions are already being asked of Mercedes’ competitivity, with Lewis Hamilton having registered the 16th-fastest lap time in testing while new teammate George Russell finished in 5th. Champion Max Verstappen set the fastest time by over half a second on Mick Schumacher’s Haas, but the bookies nevertheless have the seven-time winner Hamilton as the favourite heading into the first weekend. In recent years Mercedes have been a different beast on race day after unimpressive test sessions, so perhaps the assumption is that the current Constructors’ Champions will pull off a turnaround once again. However, if testing is anything to go by, it looks like the new regulations have precipitated a reordering of power on the grid. Whatever happens, the 2022 season looks set to be even more unpredictable and thrilling than 2021’s.
We monitor trends in odds on key markets of interest by tracking a range of UK and international bookmakers. The update frequency varies, but is clearly shown on all our tables and charts. After fetching odds direct from bookies, we convert them to implied probability to make them easier to manage (read more on implied probability and converting from fractional to % probability). We then take the mean average implied probability to get a consensus view across the betting industry. This average implied probability is what we show on our charts and tables.
