Monaco Grand Prix betting: Everything you need to know

The Monaco Grand Prix is widely regarded as one of the highly sought-after motor races in the world of Formula 1 for its unique nature, intense action, and prestige. Every year, millions of fans worldwide look forward to this event, held on the streets of Monte Carlo in Monaco, to witness the F1 drivers’ and teams’ exceptional skills and talents.

Ready to race for big wins? Discover the Monaco Grand Prix’s significance in Formula 1’s history and learn all the essential betting tips with the help of this guide.

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What is the Monaco Grand Prix?

Formula 1 is the top level of international open-wheel auto racing, sanctioned by the International Automobile Federation (FIA). It governs the world's premier forms of racing through a series of races called the Grand Prix. The Monaco Grand Prix is one of its most prestigious and eagerly anticipated events.

The Monaco Grand Prix is a distinctive street circuit motor racing event held every year in Monte Carlo, from late May until early June. Known as the Circuit de Monaco, it has a rich history dating back to 1929 and has been the birth ground of iconic drivers such as Ayrton Senna, Graham Hill, and Michael Schumacher.

What makes the Monaco Grand Prix special is that it takes place on regular city streets, temporarily transformed into a glamorous racecourse. This poses a challenging circuit that requires drivers to showcase superb skills and strategic decision-making to come out as the overall champion.

Why should you watch the Monaco Grand Prix?

Besides being one of the most demanding races on the F1 calendar, the Monaco Grand Prix has several reasons why millions of people are drawn to this event. Here are some key reasons why you should watch the Monaco Grand Prix:

Rich history and prestige: The Monaco Grand Prix has been running successfully since 1929 (with an exception in 2020 due to the COVID-19 pandemic), making it one of the oldest and most prestigious races in F1. Witnessing this race allows you to experience the drivers’ rich tradition and gain insights into how F1 has evolved and produced iconic moments for decades.
Unique street circuits and track layouts: With its tough street circuit layout, the Monaco Grand Prix takes the rush to the next level. Spectators are thrilled by how drivers navigate the narrow streets and racecourse’s tight corners in the best way possible. This showcases the drivers' prowess in terms of precision and bravery.
Attracts high-profile crowds: Every year, the streets of Monte Carlo turn star-studded as a plethora of high-profile spectators gather to witness the action. The Monaco Grand Prix is also known for its glamorous setting and the picturesque city-state of Monaco, further adding to its prestige.
Intense racing action: You can witness intense wheel-to-wheel battles and dramatic overtaking manoeuvres due to the Monaco Grand Prix’s challenging nature. The obstacles and narrow spaces allow for breathtaking race action, adding an extra layer of excitement from the spectators' point of view.
Impact on the F1 Championship standings: Similar to other F1 races, the Monaco Grand Prix has a huge impact on the championship standings. Points are awarded to the top finishing teams and drivers, which helps solidify their positions and adds to the overall fixtures in both the Drivers' and Constructors' Championships.

Where to watch the Monaco Grand Prix?

If you are from the other side of the world and want to catch the Monaco Grand Prix without travelling, there are many ways to watch it from home. Here are some of the best options:

Local sports channels: Many broadcast channels worldwide are covering the Monaco Grand Prix to cater to their local audiences. You can check your local sports channels that offer Formula 1 coverage to ensure that you don't miss any Monaco Grand Prix action. Some examples of local sports channels are ESPN and Fox Sports.
Streaming services: There are online streaming services that provide the Monaco Grand Prix live coverage. By subscribing to these platforms, you can watch the race live. Some examples of these services include Hulu, F1 TV, and YouTube TV. Subscription fees vary depending on the service provider.
Official Formula 1 website: Formula 1’s official website and app also offer streaming services, which require a subscription to access the races, including the Monaco Grand Prix. The website features live timing, race commentary, driver and team information, and more.
Mobile apps: For watching on the go, download mobile apps that stream the Monaco Grand Prix races. These apps may also require a subscription and offer special features. Examples include F1 TV, fuboTV, and NBC Sports.

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How to bet on the Monaco Grand Prix

The Monaco Grand Prix serves as a great avenue for betting. With its nail-biting action in every race, you can find favourable betting prospects that can lead to huge winnings. Here's what you need to know before you start betting on the Monaco Grand Prix.

Odds format

When betting on the Monaco Grand Prix, it is important to learn how to read the different odds formats at Sportsbet.io. Regardless of format, these figures indicate your potential winnings and the likelihood of certain outcomes based on statistics. Here are the most common odds formats for F1:

American: These odds are displayed using positive and negative numbers. Positive odds indicate the underdog, while negative odds indicate the favourite in a specific race or outright tournament.

When you encounter positive odds such as +175 or +350, the figure represents the total amount you can win for every 100 USDT bet. On the other hand, negative odds such as -250 or -525, represent the amount you need to bet to win a 100 USDT profit.

Decimal: These odds allow you to determine your total return for a winning bet, which includes your profit and the original bet combined. To calculate your potential winnings, simply multiply your bet amount by the odds.

For example, say you place a 100 USDT bet on Driver A to win the race with odds of 5.25. If your bet wins, you will have a total return of 525 USDT (100 USDT x 5.25 = 525 USDT). This total already includes your initial bet of 100 USDT and a profit of 425 USDT.

Hong Kong: Also displayed as decimal numbers, odds lower than 1 show the favourite, while odds higher than 1 show the underdog. To calculate your potential payout, add 1 to the odds and multiply it by your bet amount.

Say you are to place a 100 USDT bet on Driver B with odds of 0.75. If your bet is successful, it will yield a total payout of 175 USDT ((0.75 + 1) x 100 USDT = 175 USDT).

Popular bet markets

Here are some of the most popular betting options for the Monaco Grand Prix:

Winner: Bet on the driver you believe will win the Monaco Grand Prix race.
Top 3: Bet on a driver that you predict will finish within the top 3 positions.

Step-by-step guide

Begin placing your bet on the Monaco Grand Prix now! Here’s a simple step-by-step guide on how you can easily place your wagers:

Log in to your Sportsbet.io account or create one if you don't have any.
Fund your account by making a deposit.
Navigate to the Formula 1 section and locate the Monaco Grand Prix.
Explore the available races and betting markets.
Click on the outcomes you want to bet on. These will automatically be included in your bet slip.
On your bet slip, enter the amount you would like to wager.
Double-check your predictions, enable Price Boost if it’s available, and click 'Place Bet' to confirm your bet.

Factors to consider when placing bets on the Monaco Grand Prix

Making smart bets on the Monaco Grand Prix bets requires considering various factors that can impact the outcome. Here are some key things to keep in mind:

Track characteristics: Given that the Monaco Grand Prix features one of the toughest F1 tracks, understanding street circuit characteristics helps you make informed bets. Look for drivers who excel on this type of circuit and consider their recent performances when making your decisions.
Weather conditions: Even though Monaco is located in a Mediterranean climate, rain showers are inevitable which can heavily affect the drivers' performance. A wet racecourse can make the track tough to navigate, making it crucial to identify drivers who excel in such conditions.
Driver statistics: Review the past records of the drivers you're betting on. Check if they have a consistent track record and if they thrived at the Monaco Grand Prix before. This information gives insights into their potential performance in the upcoming race.

Winner predictions for the 2024 Monaco Grand Prix

With the Circuit de Monaco 2024 set for the 26th of May, it’s time to look at the potential winners based on current standings and performance. Here are the top contenders:

Max Verstappen: As the winner of the 2021 and 2023 Monaco Grand Prix, Red Bull’s Verstappen is in great form to continue his excellence. He has recently shown his excellence and determination at the Miami Grand Prix, earning him the title of Driver of the Day alongside another victory.
Sergio Pérez: Verstappen's Red Bull teammate, Sergio Pérez, is the next favourite to win the 2024 Monaco Grand Prix. Having won the 2022 edition, he is eager to secure his second win this time. With his roaring determination, Sergio Pérez continues to challenge Verstappen's position.
Charles Leclerc: Third on the list of favourites is Charles Leclerc, aiming to clinch his first win in the Monaco Grand Prix. He is known as a highly talented young driver, showcasing his skills on the racecourse. He became the youngest Ferrari pole sitter, making him one of the top drivers to win the 2024 edition.

Place your Monaco Grand Prix bets using crypto at Sportsbet.io

Sportsbet.io is your go-to platform for all things Monaco Grand Prix betting. Our platform covers various F1 races, providing competitive odds and a wide selection of betting markets. You can enjoy special betting features such as Price Boost, Multi Bet Multiplier, and Bet Sharing to heighten your crypto betting on our site.

Make the most of the Monaco Grand Prix—watch the race, and have a fun, fast, and fair F1 betting experience!

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DISCLAIMER

The information provided by the blog above on Sportsbet.io is for general information purposes only. All information on the Site is provided in good faith, however, we make no representation, warranty, or guarantee of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, or completeness of any information or betting tips on the Site.

Elle Arevalo19 May 2024