Formula 1 Odds 2023 - Verstappen, Red Bull Look To Continue Dominance

Gentlemen, start your engines. The 2023 Formula 1 season begins in earnest this weekend, and Max Verstappen and Red Bull are looking just as dominant as they were in 2022 when they pulled off the double, with Verstappen winning the Drivers Championship and Red Bull as a team winning the Constructors Championship. Betting sites and industry insiders see the pair as shoo-ins to repeat their 2022 performance in 2023 with most betting apps giving Verstappen and Red Bull very short odds even before the season has commenced.

Highlights

  • Max Verstappen enters the campaign looking for his third straight Drivers Championship
  • Lewis Hamilton will look for his first Grand Prix win since 2021
  • Red Bull will attempt to maintain its advantage in the Constructors Championship

2024 Formula 1 Drivers Championship Odds

Verstappen was so dominant in 2022 that he’s seeing minus odds in F1 futures betting markets before he’s even driven a race in 2023, with the odds shortening even further at most books after his Red Bull team’s performance at testing. Check out the Drivers Championship odds table below, courtesy of Betway.

DriverChampionship Odds
Max Verstappen (RB)-152
Charles Leclerc (FER)+450
Lewis Hamilton (MER)+450
George Russell (MER)+1200
Carlos Sainz (FER)+1600
Sergio Perez (RB)+1600
Fernando Alonso (AM)+2800
Esteban Ocon (ALP)+20,000
Lando Norris (MCL)+20,000
Lance Stroll (AM)+30,000
Nico Hulkenberg (HAA)+50,000
Pierre Gasly (ALP)+50,000
Valtteri Bottas (AR)+50,000
Alex Albon (WIL)+100,000
Guanyu Zhou (AR)+100,000
Kevin Magnussen (HAA)+100,000
Logan Sargeant (WIL)+100,000
Nyck de Vries (AT)+100,000
Oscar Piastri (MCL)+100,000
Yuki Tsunoda (AT)+100,000

Max Verstappen Odds

To have odds as short as -152 to start the season should really tell bettors something. It is going to take a Herculean effort from another team and/or driver to dethrone Verstappen in 2023 as he strives for his third straight title. 

Red Bull is just so far ahead of the competition at the moment, and Verstappen only exacerbates that advantage. He won an F1 record 15 of the 22 Grand Prix in 2022 and beat the runner up by a whopping 146 points. Don’t be surprised if he does it again.

Charles Leclerc Odds

While the Monegasque driver (who sits at +450 odds for 2023) did finish in second to Verstappen last year, it was such a distant second that the season overall was still viewed as a letdown for him and Ferrari. Leclerc was the only non-Red Bull driver to win multiple races last year, however, notching three. 

Two of those wins came in the first three races of the season though, and his performances faltered down the stretch. The 25-year-old has a bright future, but he might have to wait for Verstappen and Red Bull’s day in the sun to end before he can bask in his own glory.

Lewis Hamilton Odds

After arguably the most dominant stretch in F1 history, during which he won six titles in seven years from 2014 to 2020, Lewis Hamilton saw a steep drop in performance in 2022, finishing in sixth, three spots behind his Mercedes teammate, George Russell. 

It was also the first time in his career he completed a season without a race win. Hamilton (who boasts surprising +450 odds for this season) and Mercedes have sterling reputations, which probably explains why the driver’s odds are shorter than they might otherwise be.

2023 Formula 1 Constructors Championship Odds

The usual suspects will once again battle it out at the top, with the Constructors champ all but guaranteed to come from the holy trinity of Red Bull, Mercedes, or Ferrari. However, after impressive testing in Bahrain, Aston Martin should be an interesting dark horse story to follow this season.

TeamChampionship Odds
Red Bull-139
Mercedes+225
Ferrari+300
Aston Martin +5,000
Alpine+15,000
McLaren+15,000
Alfa Romeo+25,000
Alpha Tauri+50,000
Haas+100,000
Williams+100,000

Red Bull Odds

It was clear last year that Red Bull was speeding away from the competition under the new F1 regulations, cruising to the Constructors Championship by over 200 points. After testing last week in Bahrain, there remains no doubt that Red Bull, who are offering reasonable -139 odds for 2023, is head and shoulders above the competition at this point. Jumping on the Verstappen/Red Bull Championship double at -110 odds would be a smart move right now.

Ferrari Odds

Ferrari has two solid drivers, but they’re so far behind Red Bull, which must be frustrating for such a storied outfit. They made some crucial errors during last season, so if they can simply rely on the boatloads of funding and talented driving at their disposal, they should have a better year. Their +225 odds are more than reasonable and worth a look right now.

Mercedes Odds

Mercedes had an ugly start to the 2022 season, but with George Russell picking up the team’s only win in the second to last race of the campaign, things are definitely looking up for the team of the 2010s. They should be in the fight if Hamilton can bounce back and match Russell’s fast-improving performances

Alex is a recent graduate of Ryerson's Sport Media program in 2019 and has been contributing to BettingTop10 since 2020. He has worked in the field of sports and sports betting for several years, including stops writing for theScore and daily fantasy sports website FantasyPros as one of the lead NBA news writers. A dedicated sports fan and experienced sports bettor, Alex has the knowledge to provide you with the best betting advice and the sneakiest props no matter what the sport may be.