Explanation of the Various Bet Types
These are only the major types, please consult your Sportsbook for the types of bets they offer.
To Win Race Outright
With this type of bet you choose a driver (at given odds) to win the specified race.
Assume the odds given are:
- Driver A - 100/1
- Driver B - 40/1
- Driver C - 20/1
- Driver D - 5/1
Driver D is the favourite to win the race at 5/1 and Driver A the underdog at 100/1. This implies that if you bet on driver A and he won, you would receive 100 times what you bet as winnings plus what you bet.
For this bet, the sportsbooks match-up two drivers at specified odds. This bet is graded on the finishing positions of the two drivers in respect to one another.
The match-up is between Driver A and Driver B. Driver A is the favorite at -200 and B the underdog at +120. You bet $100 on Driver B to win. Let's say driver B finishes ahead of driver A, you would win $220 (the initial $100 bet + $120 win from bet).
If you bet $200 on Driver A, and he finishes ahead of Driver B, you would win $300 (initial $200 bet + $100 win from bet)
Please note initial bet amounts!
Same principal as race match-ups, only difference is that these bets are on the qualifying sessions. Refer to race match-up for more detail.
Group match-up betting is usually where a group of drivers are matched up against each other. The group wont necessarily contain the favourite or favourites to win the race. With this bet you usually pick a driver from the group and the bet is decided on his position relative to the group.
These usually include bets like "Which driver will do the fastest lap?" or "Which driver will retire first?" at specified odds for the various drivers. These proposition (props) bets vary for the different sportsbooks and sometimes for the various races as well. So have a look at your sportsbook to see which propositions bets are offered for the various races.
Future bets are wagers that are made usually long before the actual event takes place. For example pre-season. These bets are usually at greater odds which promise greater wins. The odds usually decrease as the event date creeps closer. Great if you have a favourite driver you always back.