As it is with just about any sport, if you are looking to place a wager on the winner, you are going to want to go through a Vegas sports book. Many of these are located right in the casinos and are able to provide much of the information and stats that will allow you to be able to make the best decision for your pocketbook. This includes Formula One racing as well as any other of the open wheel racing venues that are out there.
There are so many different options out there as far as the betting is concerned. You can with margin of victory, time of total race or simply pick the winner. The times and pit stops as well as who is leading after a certain number of laps are also available options for wagers depending on the bookie and the money out there to be had.