• What: Formula 1 Australian Grand Prix
  • When: Saturday, March 7, 11:00 p.m. ET
  • Where: Melbourne Grand Prix Circuit
  • Watch: ESPN

The Formula 1 betting odds reflect a change in the pecking order as the 2026 season gets set to launch with the Australian Grand Prix.

It's the Mercedes of George Russell that oddsmakers are setting as the +220 favorite to win the opening race of the season. Max Verstappen and Red Bull are the second betting choice at +325.

Let's take a look at the latest Australian Grand Prix odds from the leading online sportsbooks. Remember, odds are always subject to change.

Australian Grand Prix OddsBovadaBetUSBetOnline
George Russell+220+220+250
Max Verstappen+325+335+375
Charles Leclerc+400+400+400
Lewis Hamilton+650+650+700
Kimi Antonelli+800+800+750
Lando Norris+900+900+900
Oscar Piastri+1400+1400+1100

Ferrari teammates Charles Leclerc (+400) and Lewis Hamilton (+650), who went without a win last year, are next in the Formula 1 betting lines for the Australian Grand Prix. Kimi Antonelli of Mercedes (+800) and the McLaren duo of Lando Norris (+900) and Oscar Piastri (+1400) are the only other drivers showing a betting line shorter than +10000.

Formula 1 Australian Grand Prix Betting Picks

This is the opening race on the 24-race F1 circuit. The drivers will cover 58 laps around the 3.295-mile, 14-turn Melbourne Grand Prix Circuit, for a total race distance of 191.117 miles.

While this is a fast-moving sport, you don't have to worry about being locked out of the chance of placing your F1 wagers. Take advantage of the top mobile betting apps to place a wager wherever you might be in the course of your day.

Before we take a look at the top contenders and get into the analysis and predictions for this race, take some time to check out our expansive Formula 1 betting page.

George Russell (+220)

The British driver has five career F1 wins, two of which were earned last season. Russell finished third in last year's Australian Grand Prix. That was one of his 24 F1 podium finishes.

Russell also finished third in the Australian GP in 2022.

Max Verstappen (+325)

Verstappen was second in last year's Aussie GP. He won the race in 2023 and has finished on the podium in three of the past four races.

Verstappen finished last season on a three-race win streak. He's won six of the past nine races on the F1 circuit.

Charles Leclerc (+400)

Optimism abounds in the Ferrari camp following the strong preseason performance of their new cars. The Scuderi went winless in 2025.

It's been 30 races since Leclerc won the US Grand Prix, his most recent F1 victory. He was eighth in Australia last year. Leclerc won the Australian Grand Prix in 2022.

Lewis Hamilton (+650)

A winless 2025 was also the outcome for nine-time world champion Hamilton. The all-time leader with 105 F1 victories, 35 races have passed since Hamilton's last win at the 2024 Belgian Grand Prix.

Kimi Antonelli (+800)

Antonelli started 16th and finished fourth in last year's Aussie GP, the first F1 race of his career. He posted 15 top-10 finishes as a rookie, including three podiums.

Lando Norris (+900)

Norris won last year's Australian Grand Prix. It was the first victory in the race by a McLaren since Jenson Button in 2012. It was also the first of seven wins posted last season by the eventual F1 champion.

Norris won the race from pole position. He also turned in the fastest lap of the race while leading all but three of the race's 58 laps.

In four Aussie GP starts. Norris has never finished worse than sixth.

Oscar Piastri (+1400)

McLaren's Piastri qualified second for last year's Australian Grand Prix, but slumped to a ninth-place finish.

Winning four of the first six races in 2025, Piastri was the F1 points leader for much of the season. However, a second-half slump in which he never finished higher than second in any of the final nine races cost the Australian driver the title.

Best Australian GP Prop Bets

In the Formula 1 prop bets for the Australian Grand Prix, Russell is the -225 betting favorite to gain a podium finish. Verstappen is the second choice in this betting market at odds of -140, followed by Leclerc at -120.

Hamilton (+150), Antonelli (+200), Norris (+250), and Piastri (+350) also have betting lines shorter than +1000 to end up on the podium. Isack Hadjar (+1000) and Pierre Gasly (+1200) are next in the Formula 1 odds for this prop.

There's not much love for the new Cadillac team making its debut in Formula 1. Cadillac drivers Valtteri Bottas and Sergio Perez are the longshot shots on the board for this prop at +20000.

Russell The Favorite In Formula 1 Championship Futures

Mercedes and Russell have also overtaken Verstappen in Formula 1 futures. Russell is now the +200 pick in the Formula 1 odds to win the 2026 Drivers' Championship.

Verstappen is next in this betting market with a line of +300. Then comes the Ferrari tandem of Leclerc (+600) and Hamilton (+700).

Antonelli and defending champion Norris are both set with Formula 1 betting lines of +900. McLaren's Piastri (+1400) is the only other driver with odds shorter than +6600 to win the title.

In the Constructors' Championship future market, it's Mercedes set as the +120 chalk to win the title. Both Ferrari and McLaren are at odds of +250, followed by Red Bull at +700.

Australian Grand Prix Betting Pick

Toto Wolff's Mercedes team has looked both fast and dominant on both short and long runs during preseason testing. And the feeling around the paddock is that Mercedes is holding some of its power in reserve for the opening race weekend.

George Russell To win Australian Grand Prix
Bovada
+220
Bet Now!

Only the Ferraris have shown that they can keep pace with Mercedes. That being the case, it's hard to look past Russell as the one to beat on opening weekend. Go with Russell to win in the Australian Grand Prix Formula 1 picks.