Formula 1 and NASCAR are the most well known forms of car racing in the world. NASCAR is enormously popular in the United States, while F1 has garnered a huge fanbase in the rest of the world.

Formula 1 or, F1, began in 1950 and grew it’s widespread notoriety by featuring the fastest cars and the most skilled drivers on the planet. The very first F1 race took place in the United Kingdom in 1950 and was won by Giuseppe Farina, driving an Alfa Romeo.

NASCAR (National Association for Stock Car Racing) is legendary in the US of A, a legend that has only grown since the racing series saw it’s start in 194. There are many series of NASCAR races to watch and bet on, including the Xfinity Series and the Monster Energy NASCAR Cup Series, to name two of the more well known races.

Types of Auto Racing Bets

As with every sport, there are always plenty of betting options available for fans of car racing, from moneyline wagers to prop bets to betting on race futures. Let’s take a closer look at the most common types of wagers.

To-Win Bets

Before we dive into the bets that you might not be aware of, we need to make sure that everyone is on the same page with the most popular auto racing bet type – the to-win bet. Sometimes this is referred to as a win bet or an outright win bet. Basically, this is the default bet that most people associated with auto racing wagering.

Much like you can bet on which player will win a tennis match, you can also wager on which driver will win their race.

The type of bet used to pick race winners is a moneyline wager, as you can tell from the single number with the plus or minus sign in front of it. What do those symbols and numbers mean?

Max Verstappen -110

Lando Norris +12500

The -110 after Max Verstappen’s name tells us that he is the favorite to win this race. You’d have to bet $110 to $100.  After Lando Norris’ name you can see the number +12500 – which indicates to us that Norris is a long shot to win the British Grand Prix. Because his odds are so much longer, the payout on a winning bet on Norris is much higher.

Same goes for NASCAR betting, except that the favorite will almost always have a plus sign next to their odds. In other sports, the favorite is typically indicated with a minus sign next to the odds. If the favorite has a minus sign such as -120, you have to wager that number to profit $100 – bet $120 to win $220, a profit of $100.

If the favorite has a plus sign like +120, then you profit that number by betting $100 – bet $100 to win $220, a profit of $120.

Podium Finish Bets

The podium finish bet is one in which you’ll be picking a driver to finish in the top three. As long as they get first, second, or third you’ll win your wager. You do not receive any additional money if they finish in first instead of third or second; the payouts are exactly the same as long as they secure one of those three spots.

Each Way Bets

An ‘Each Way’ bet will enter two bets on your selection – one bet to win the event and a second bet for the same amount for your selection to come within the specified number of places (first 2, 3, 4 or 5 places). The ‘place’ part of your bet will pay out at the specified fraction of the ‘win’ odds for your selection i.e. 1/2, 1/3, 1/4, 1/5 etc. of the win odds.

Auto Racing Futures Odds

Future bets a favorite of racing enthusiasts, because they get to bet on major races far in advance of the race itself. Most futures odds are on the NASCAR Cup Series.  As you can see from our example above, Kyle Larson and Chase Elliott are evenly priced as favourites to win the 2022 NASCAR championship.

The World Constructors’ Championship is given to the most successful F1 builder over the course of the season through a points system based on individual Grand Prix results. Naturally, you can wager on who you think will win this every year.

Auto Racing Prop Bets

Sportsbooks will often spice up the odds board during major races by adding additional proposition bets to the table for you to wager on. For racing, you can often find betting options for things like Fastest Lap, Flag bets, and the first retirement of the race.