2024 Formula 1 Championship Odds: Lando Norris is Primed for a Big Year

The nail-biting title race of 2021 has given way to the regular formality of Red Bull victories over the last two Formula 1 seasons. 2024 is expected to produce a similar result, meaning that wagering will be a crucial entertainment source to spice up the race calendar.

With the first lights-out call in Bahrain on March 2, we're excited to delve into how to make the 2024 F1 experience profitable for all readers.

Recapping the 2023 Season

The Max Verstappen show featuring 19 other drivers was the theme of 2023. Verstappen claimed more points than the second and third-place finishers in the World Drivers Championship (WDC) combined and has set new single-season race-win records in back-to-back years, capturing 15 checkered flags in 2022 and roaring to 19 victories during a dominant 2023.

He catapulted himself to the podium of career race victories with his final win of 2023, knocking off Red Bull legend Sebastian Vettel for third place. Verstappen's tally of 54 now trails only Michael Schumacher (91) and Lewis Hamilton (103) on the all-time list.

Odds to Win 2024 F1 Drivers Championship

Let's take a look at the odds to win the 2024 Formula One championship. Check out where your favorite driver is!

Top 4 Teams on 2024 Grid

Following Verstappen's record-setting campaign in 2023, the Red Bull driver and his team are the massive betting favorites entering this season. Sportsbooks have the reigning drivers champion and the Red Bull duo of Verstappen and Sergio Perez at -500 or shorter across the board to repeat their titles, highlighting the disparity between them and the rest of the grid.

The Dutch driver's recently unchallenged grasp on the podium's top step has put him on the brink of more accomplishments in 2024. Five drivers have won four or more WDCs, including Hamilton, Schumacher, Juan Manuel Fangio, Vettel, and Alain Prost. Only four of them won at least four consecutive titles, and Verstappen is likely to join both clubs this year if the betting lines and preseason testing results are any indication.

Setting aside Verstappen and Red Bull's inevitable success, the grid is set up for competition this year. Ferrari, Mercedes, and McLaren have legitimate claims to P2 on the grid and would love to place their top driver ahead of Perez in the WDC if second place is what they'll be fighting for.

Five-time race-winner Charles Leclerc of Ferrari, Mercedes' Hamilton, and McLaren lead driver Lando Norris are among the top challengers to Verstappen. Ferrari fell to third in the championship after claiming P2 in both the WDC and Constructors Championships in 2022. Leclerc added five pole positions to his resume in 2023 but failed to win a race, while teammate Carlos Sainz seized his maiden F1 victory in Singapore to thwart Red Bull's attempt at winning a season's worth of Grands Prix.

Mercedes saw Hamilton claim third position in the WDC and have struggled to rediscover the secrets to success that led them to eight straight Constructors Championships from 2014-21. George Russell dropped to eighth in 2023 after finishing P4 during his first season for the team.

The massive news that Hamilton will become a Ferrari driver in 2025 clouds the picture of how Mercedes will prioritize their drivers this season. The teammate dynamic in F1 is rife with competition and envy, but the knowledge that one of the sport's greats will drive for a competitor next season has to play on the team's mind when key moments require quick choices.

McLaren seeks the team's first P2 result in the Constructors since 2011. Hamilton and Jensen Button have given way to the exciting duo of Norris and Australian phenom Oscar Piastri, who achieved two podium finishes and a P9 result in his debut F1 season. The team captured nine podiums in 2023, tied with Ferrari for second-most on the grid. The expectation is that McLaren will close the gap to Mercedes and Ferrari in 2024, with Norris still chasing his first F1 win after accumulating 13 podiums in 104 starts.

The 2024 Midfield

Aston Martin achieved startling results during the first four months of the 2023 F1 calendar, with two-time world champion Fernando Alonso securing six podiums in the first eight races. Both drivers for the British team finished inside the WDC top ten, and Alonso's P4 result marked his best F1 season since 2013.

Teammate Lance Stroll, the son of team owner Lawrence Stroll, wrapped up his season with 74 points and will again be Alonso's racing partner in 2024. Aston Martin is in limbo between the top four teams and the bottom six on odds lists and is cemented into a fifth-place projection ahead of the first race weekend.

Alpine completed the 2023 season with its lowest finish since taking over as the title sponsor from French carmaker Renault. Their driver tandem, Pierre Gasly and Esteban Ocon, each stood on the podium once during the disappointing campaign.

The team underwent midseason leadership changes, starting at the top with the CEO, which also signaled the end for team principal Otmar Szafnauer. A January 2024 article from The Race indicated that deficiencies in the Renault engines cost Alpine around 0.5 seconds per lap in qualifying estimates and will likely continue to hinder the team's performance through 2025.

The team formerly known as Alpha Tauri and Toro Rosso has a new name for 2024: Visa Cash App RB. The lack of creativity or any identifiable relatability to fans is slightly dulled by the livery that the team released, which hearkens back to the Scuderia Toro Rosso days of Red Bull's secondary F1 organization. Drivers Yuki Tsunoda and Daniel Ricciardo hope to harness the power of their Red Bull Powertrain engines to rise up the grid within a crowded midfield.

The Bottom 3

Williams, Sauber, and Haas round out the grid for the 2024 season. Williams finished seventh a year ago, the highest result for this storied team since 2017, on the strength of 27 points from Alex Albon. The former Red Bull driver posted seven points finishes in 2023, while Logan Sargeant nabbed a point in his first F1 season. For what it's worth, Albon has shorter odds to win the championship than Stroll and Tsunoda.

The other team with a name that many fans will struggle to remember or care about in 2024 is Sauber, officially renamed Stake F1 Team Kick Sauber. They return their driver lineup of Valtteri Bottas and Zhou Guanyu for the third straight season after dropping Alfa Romeo as the team's title sponsor. Audi will take over the team from Sauber in 2026, but until then, the team will likely be a perennial non-points finisher. They finished ninth in the Constructors last year with 16 points.

Finally, American F1 outfit Haas will race without team principal Guenther Steiner for the first time since the team joined the grid in 2016. Ayao Komatsu has taken over the helm following eight seasons as the team's trackside engineering director and has his work cut out to elevate Kevin Magnusson and Nico Hulkenberg from the basement of the standings.

Best Bet: World Drivers' Champion w/o Max Verstappen: Lando Norris +700 (FanDuel)

Norris entered F1 with high expectations and the pressure of being tapped as one of the next great British drivers in the sport. His first win has eluded him to this point, with the disappointment of the 2021 Russian Grand Prix heavy on the minds of his fans to this day.

When we remove Verstappen from the equation, Norris has significant value as the lead driver for a team that could finish P2 in the Constructors this season. If he captures his first win this season, we love his chances of beating out the rest of the grid to be Max Verstappen's runner-up.

Best Bet: Constructor's Champion: Ferrari +1000 (FanDuel)

Red Bull is again the prohibitive favorite here, so feel free to take them at -500 or shorter if you believe there's no doubt that the field will catch up to them in 2024. We prefer to lock up our season-long futures where the returns will be more meaningful, and no team has let themselves down more in the last two seasons of Red Bull's rise than Ferrari.

This season represents the final year of the Leclerc-Sainz driver lineup at the famed racing team. If team principal Frederic Vasseur can oversee the development of a competitive car and quell the team's apparent need to shoot itself in the foot on race day with poor strategy decisions, that duo could challenge Verstappen and Perez for the team title.

Past Formula 1 Champions

Are you new to betting on Formula 1? If so, the following list will help you brush up on this racing league's history. Here are the drivers who've won the F1 Championship from 2002 to 2023.

Formula 1 Championship FAQ

Want to know more about Formula 1 and its iconic history? Find some of the commonly asked questions and answers about this prestigious racing league as well as information about some of its best-ever drivers.

Who has won the most Formula One titles?

Lewis Hamilton and Michael Schumacher are tied for the most Formula One titles. Both drivers have won 7 F1 titles each.

When was the Formula One racing league formed?

Formula One racing league was formed in 1950.

What's the most prestigious Formula One race of the year?

The most prestigious Formula One race of the year is generally considered to be the Monaco Grand Prix.

Who is considered the greatest Formula One driver of all time?

It is a matter of personal opinion, and there is no one answer to this question as it is subjective. However, many consider Michael Schumacher to be the greatest Formula One driver of all time due to his numerous records and 7 world championships.

What are the top racing teams in F1 history?

The top racing teams in Formula One history are widely considered to be Scuderia Ferrari, McLaren, Mercedes, Red Bull Racing, and Lotus. These teams have combined to win numerous constructors' championships and have had some of the greatest drivers in the sport compete for them.

How fast can F1 cars go?

Formula One cars can reach speeds of up to 220 mph (354 km/h). The speed of an F1 car is determined by a combination of factors, including the car's aerodynamics, power unit, and tires.