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Best Bets: F1 Australian Grand Prix 2024 Pre-Event Odds Analysis

Best Bets: F1 Australian Grand Prix 2024 Pre-Event Odds Analysis

Max Verstappen stormed to victory at the Saudi Arabian Grand Prix, a critical move in his campaign for a fourth consecutive Formula 1 championship. Alongside him, Red Bull Racing executed flawlessly, asserting their dominance early in the 2024 season. Sergio Perez, despite a time penalty, clinched a resilient P2, while Charles Leclerc’s podium finish for Ferrari signals a fierce contest brewing at the top. The race turned into a strategic battleground, marked by bold pit strategies and tire selections, hinting at a season ripe with intrigue and competition.

The action now moves to the Australian Grand Prix, hosted at Melbourne’s demanding Albert Park circuit, known for its blend of high-speed stretches and technical turns. This next challenge will test teams and drivers alike. Can Verstappen widen his lead, or will Ferrari, McLaren, or another contender exploit the Albert Park circuit’s challenges to disrupt the status quo?

At NXTbets, our pre-event odds analysis cuts through the aftermath of the Saudi GP to forecast what lies ahead in Melbourne. We scrutinize every driver’s performance, dissect team tactics, and consider the unique demands of the Australian circuit to equip bettors with insights that go beyond the surface. With a mix of analytical depth and betting expertise, we’re setting the stage for a gripping continuation of the 2024 F1 season, promising excitement and opportunities for astute bettors.

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Schedule and How to Watch the F1 Australian Grand Prix

The Australian Grand Prix takes place at the picturesque Melbourne Grand Prix Circuit, set against the backdrop of Albert Park’s scenic lakeside, mere minutes from Melbourne’s bustling city center. Scheduled for March 21-23 for American viewers and March 22-24 for those in Australia, this 5.3-kilometer track challenges the world’s best drivers with its high-speed straights, demanding turns, and captivating atmosphere, making it a highlight of the Formula 1 calendar.

Beyond the main event, the weekend is packed with practice sessions, qualifying rounds, and various special events, all set against the backdrop of this stunning, fast-paced track, scheduled as follows (PST):

  • March 21st

    • Practice 1: 6:30 – 7:30 PM PST

    • Practice 2: 10:00 – 11:00 PM PST

  • March 22nd

    • Practice 3: 6:30 – 7:30 PM PST

    • Qualifying: 10:00 – 11:00 PM PST

  • March 23rd

    • Grand Prix: 9:00 PM PST

For the complete schedule and updates, be sure to visit the official Formula 1 website. To catch every thrilling moment of the Australian Grand Prix as it unfolds, tune into ESPN for live coverage, ensuring you don’t miss a second of the high-speed drama. To stay up to date on odds and previous results, be sure to check NXTbets.


Odds Subject to Change

Please note, the odds provided herein reflect the raw probability odds for this analysis and are based on the information available at the time of publishing. Different sportsbooks may adjust these odds based on market conditions, bettor behaviors, and other factors that could influence the betting landscape. For a deeper understanding of why odds for alternative sports betting change and how it might affect your betting strategy, we encourage you to read our detailed article: Why Do Alternative Sports Betting Odds Change?. Make informed decisions and always check the latest odds with your sportsbook before placing bets.

Best Bets and Picks for the F1 Australian Grand Prix

Top Picks and Bets

As the F1 paddock prepares for the Australian Grand Prix, all eyes are on the frontrunners who have shown formidable pace early in the season. This section delves into the top contenders, analyzing their chances of victory in Melbourne and providing bettors with insightful recommendations.


Event Winner


Max Verstappen



Sergio Perez



Charles Leclerc



Max Verstappen‘s odds at -550 reflect not just his dominant victory in the Saudi Arabian Grand Prix but his ironclad grip on the sport as he hunts for a fourth consecutive title. Verstappen’s seamless blend of aggressive driving and strategic acumen, complemented by Red Bull’s technological edge, makes him the favorite going into Melbourne. His dominant display in Saudi Arabia, leading the race from start to finish, unequivocally reaffirms his status as the undisputed frontrunner. Verstappen’s mastery of the car and his ability to extract maximum performance with minimal risk positions him as the top pick for the Australian GP, underlining the Dutchman’s capacity to navigate the complexities of the Albert Park circuit with his customary flair.

Sergio Perez, listed at +1000, represents an intriguing proposition. His drive to a second-place finish in Saudi Arabia, despite a time penalty, showcases his resilience and skill in navigating race-day challenges. With Red Bull’s RB19 proving to be the class of the field, Perez’s race craft and ability to maximize opportunities, even under pressure, mark him as a strong contender. His dynamic with Verstappen and Red Bull’s strategic prowess, especially in managing the double-stack pit strategy seen in Saudi Arabia, underscore his potential to clinch the top spot. As Perez seeks to affirm his value to Red Bull amidst speculation about his future, the Australian GP presents a prime opportunity for him to assert his championship credentials.

Charles Leclerc, priced at +1400, enters Melbourne as a dark horse with significant upside. Ferrari’s performance in Saudi Arabia, where Leclerc secured a podium finish, signals a resurgence that could see the Monegasque driver challenge the Red Bulls. Leclerc’s blend of raw speed and strategic intelligence, coupled with Ferrari’s improvements, positions him as a formidable force in the championship battle. With the narrative of Hamilton’s impending move to Ferrari adding an extra layer of motivation, Leclerc’s drive in Melbourne will be closely watched. His ability to exploit the nuances of the Albert Park circuit could well translate into a performance that outpaces his odds, making him a compelling choice for bettors looking for value beyond the dominant Red Bull duo.

Outsider Bets

While the favorites often dominate the headlines, the Australian Grand Prix also presents a unique opportunity for potential upsets by the underdogs. In this section, we explore the drivers who, despite longer odds, possess the talent and circumstances to deliver a surprise performance on race day.


Even Winner


Lewis Hamilton



Lando Norris



George Russell



Lewis Hamilton, with odds at +2800, enters the Australian Grand Prix as an intriguing outsider. Despite a challenging couple of seasons, Hamilton’s unparalleled experience and skill remain indisputable. The Mercedes driver’s determination to reclaim his championship form, coupled with the narrative of his final season with Mercedes before moving to Ferrari, adds a layer of intrigue to his campaign. Hamilton’s legacy as one of the sport’s greatest drivers provides a compelling backdrop for a potential upset in Melbourne. With Mercedes working tirelessly to bridge the gap to the frontrunners, Hamilton’s proven ability to excel under pressure and his adeptness at capitalizing on any race day chaos make him a compelling pick for those looking to back an outsider with a proven track record.

Lando Norris, also at +2800, represents McLaren’s best hope for a breakthrough win this season. The team’s positive trajectory, highlighted by multiple podium finishes last season, suggests they are on the cusp of challenging the established order. Norris’s talent and consistency have been evident, with the young Briton often extracting the maximum from his machinery. Given McLaren’s upward momentum and Norris’s hunger for his maiden F1 victory, the Australian GP could offer the perfect storm for an upset. Norris’s ability to navigate the strategic and physical demands of the Albert Park circuit, combined with McLaren’s continued improvement, positions him as a tantalizing option for bettors seeking value outside the usual suspects.

George Russell, sharing odds of +2800 with Hamilton and Norris, embodies Mercedes’ long-term ambitions and his own quest to establish himself among the sport’s elite. Russell’s adaptability and keen strategic mind have seen him deliver solid performances, including a win, underscoring his potential to surprise in favorable conditions. As Mercedes aims to provide Hamilton with a fitting sendoff, the development focus on their car could inadvertently bolster Russell’s chances, especially at a circuit like Albert Park where strategy and precision play pivotal roles. Russell’s readiness to capitalize on any opportunity, combined with Mercedes’ potential for strategic ingenuity, makes him an attractive outsider pick for the Australian Grand Prix, where unpredictability and opportunity could align in his favor.

Expert Pick for F1 Australian 2024

While Max Verstappen is understandably the heavy favorite given his dominant form, Charles Leclerc emerges as a solid bet for the Australian Grand Prix. At odds of +1400, Leclerc offers a compelling balance between risk and potential return. Ferrari’s upward trajectory, evidenced in the season’s early stages, hints at a narrowing gap to Red Bull. Leclerc, with his exceptional talent and Ferrari’s strategic enhancements, is well-positioned to challenge the status quo in Melbourne. His capability to leverage the Ferrari’s strengths on a circuit as demanding as Albert Park makes him an attractive pick for those looking beyond the favorite, offering a smart blend of competitive odds and a realistic shot at victory.

Where to Bet on Formula 1

As the engines rev up for the Australian GP, our analysis equips you with the insights needed to navigate the betting landscape, promising an exciting blend of strategy, skill, and the potential for significant returns. Visit our partner sportsbooks to access special deals that will elevate your betting experience as you anticipate the upcoming championship. If you’re a newbie in the thrilling world of Formula 1 betting, our comprehensive Formula 1 Betting Guide is a must-read.

As the Formula 1 season speeds into the Australian Grand Prix, the blend of strategy, skill, and sheer competitive spirit promises an unforgettable race. Whether backing the favorites or placing a bet on an underdog, Melbourne is set to be a thrilling battleground for bettors and fans alike, offering plenty of opportunities for those ready to take them.

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