Horse Racing stats man, Andy has contributed to OLBG for 18 years - An Ipswich fan and F1 fanatic, he also contributes EFL football and Motor Sport opinion.
- Lewis Hamilton is now 5/1 to retire from Formula 1 in 2024 with bookies offering odds on different sporting outcomes
- Hamilton sits at 11/1 in the betting market to win the 2024 Drivers Championship
- Red Bull are the heavy favourites to win the Constructors Championship this year
Lewis Hamilton is now 5/1 to retire from Formula 1 in 2024 with bookies offering odds on different sporting outcomes
Formula 1 betting is growing in popularity year-by-year with the sport getting bigger and bigger following Netflix's Drive to Survive documentary and bigger tv deals coming into the equation.
The growth of the betting markets in F1 sees odds offered on different outcomes including potential retirement from the sport with Lewis Hamilton's odds to retire one of several given by William Hill at the start of the year.
Hamilton's odds sit at 5/1 for him to retire from Formula 1 at some point in 2024 and it may well be something on the mind of the Mercedes driver if he has another season without a competitive car.
Those latest odds give an implied probability of 16% that Hamilton decides to hang up his Racing helmet for the final time this year but his contract still has 2 more seasons left.
Mercedes gave Hamilton a two season extension during 2023 which sees him tied in until the end of the 2025 season but this may not stop Hamilton from finally calling it a day in the sport where he is known as one of the greatest.
What the expert says...
Hamilton sits at 11/1 in the betting market to win the 2024 Drivers Championship
Further betting odds are offered on the 2024 World Championship and it's no surprise to see Max Verstappen sitting as the favourite to win the title once again this year.
Verstappen was crowned Formula 1 Drivers Champion last year for the third year in a row and his period of dominance may well continue into this year with the Red Bull car likely to remain the best.
The Dutch driver's odds of winning the Drivers Championship for 2024 currently sit at 2/7, which makes him the heavy favourite in the betting market ahead of McLaren driver Lando Norris.
| F1 Driver's Championship 2024 | Odds | Probability |
|---|---|---|
| Max Verstappen | 2/7 | 77.8% |
| Lando Norris | 13/2 | 13.3% |
| Lewis Hamilton | 11/1 | 8.3% |
| Oscar Piastri | 16/1 | 5.9% |
| George Russell | 22/1 | 4.3% |
Red Bull are the heavy favourites to win the Constructors Championship this year
Verstappen's dominance also means Red Bull dominance and they sit at the top of the betting market to win the 2024 Constructor's Championship with big points expected to be won once again.
Red Bull's chances of winning the Formula 1 constructor's title sit at 77.8% with McLaren and Mercedes following them in 2nd and 3rd in the betting market.
| F1 Constructors Championship 2024 | Odds | Probability |
|---|---|---|
| Red Bul | 2/7 | 77.8% |
| McLaren | 11/2 | 15.4% |
| Mercedes | 7/1 | 12.5% |
| Ferrari | 9/1 | 10.0% |
| Aston Martin | 33/1 | 4.3% |
Andy Powell
Content Editor
Senior News Editor
