Formula 1 betting is a good way to make exciting races even more thrilling. Placing bets on Formula 1 races can really put you on the edge of your seat, especially if you love Formula 1 to start with! If you're not already up on Formula 1, it's officially called FIA Formula One World Championship and it's the highest, most professional class of automotive racing that's currently sanctioned.

With Formula 1 racing the races are called Grand Prix and usually they're run on specially built circuits. The circuits are all over the world from Asia and the Middle East to Europe and the US. There are two separate championships annually, one which is run to champion the skill of the drivers and one to show off the skill of the constructors who build and construct the cars.

Formula 1 cars can go at speeds of up to 220mph and some statistics show that per season 600 million people watch the races. Formula 1 has also been called the world's most expensive sport by ESPN and high profile sponsorship deals are part and parcel of the F1 tradition.

If you have a favourite driver such as Lewis Hamilton or Jensen Button making your mind up on who to place at the bet on is a piece of cake. If, however, you're not sure who you want to support it's easy to look at odds online and weigh up which driver to put your money on. You can even place bets online, making it a really quick process. Not quite as fast as a Formula 1 race car though!