Guide to Motorsports Betting

Betting on motorsports is no different than betting on other sports, and just like other sports consistent success requires research and patience. For this article, Draftkings Sportsbook will be used as the example, since they consistently have the most options and all three major racing series, Formula 1, Indycar, and all three NASCAR series. The odds system used by Draftkings(DK) is the American odds system, and is read by its relationship to $100. For example, a bet on Kyle Larson at Sonoma to win was +800, meaning that a bet of $100 would win $900. The original bet of $100, plus $800. However, a bet with negative odds, like Chase Elliott to finish in the top ten at -1000, requires a bet of that amount to win $100. The other term that is commonly used is units, which is the regular amount that you bet. A confident bet might be two units, whereas a longshot might be a half unit or even a quarter unit. 

With terminology and the quick introduction out of the way, let’s talk about where we can look for value and what to expect while betting. Starting with Nascar, the favorites will be around +400 every week, except for road courses, where Chase Elliott and Martin Truex Jr will be around +250. The value there is good, but betting on a win is all or nothing, and the slightest mistake can ruin a bet. Most sportsbooks offer, at minimum, bets on the winner, the top 3, and the top 10. DK also offers bets on the top 5, head to head, group betting, stage results, laps lead, and manufacturer props. Value is easier to find among the top 5 and top 10 bets, as usually one driver will sneak in. Road courses have great potential for this, as drivers who usually are not top 10 finishers run up there, like the Ganassi cars this year and Michael McDowell. Oddsmakers don’t adjust too much for the different track types, so look through the results for the package and track combination to find undervalued drivers. An excellent resource to use for driver results is Driver Averages, a website that has compiled decades of Nascar results organized by driver, series, and track.

For Indycar, identical chassis and engine make for a tight field, so driver performance at the track and over the season are the statistics to look at. Bet on the drivers and teams with the hot hand, who are consistently putting in good drives. Team Penske and Ganassi drivers will be the favorites every week. Expect Dixon to be the favorite almost every week. And as for Formula 1, we know the two favorites every week. Hamilton and Verstappen are consistently around even odds to win. They also are consistently expensive for the podium places, coming in at around -400 every week. However, Valterri Bottas’ sudden drop in performance combined with Perez’s growing comfort in the second Red Bull car means that the two are nearly even for the third podium spot every week. A tier below them is the upper midfield and with a midfield that is as close as it’s been in several years, watch for good value on drivers like Norris, Leclerc, and Sainz. These upper midfield drivers are consistently around +400 for a podium, and with two Ferrari poles, two McLaren podiums, an Aston and Alpha Tauri podium any mistake for the top 2 teams can result in a underdog podium.

The key to motorsports betting is to find the smart plays, and to find your driver who doesn’t let you down. Sometimes the easy even bet is the smart bet, and sometimes no bet at all is the smartest move. Patience is the most important thing you can practice in your betting, and remembering to stay within your limits. And of course, you can find a weekend betting guide every Thursday here on the NRN website, with tips, advice, and a guide for the weekends events.