Daytona 500 odds: How head-to-head driver betting works

Sunday marks the start of the NASCAR season with the most prominent and prestigious race of them all, the Daytona 500. 

And with all the fanfare, excitement, and speed that goes along with it, this is definitely a sport you should consider wagering. 

Unlike most sports leagues that have the championship at the end of the season, NASCAR begins the season — which runs from February to November — by handing out the Harvey J. Earl trophy to its winner. 

The NASCAR Cup season consists of 36 races over a variety of tracks with varying distances, climates and temperatures. Each race awards points to the drivers depending on finishing position. At the end of the season, the driver who accumulates the most points is the NASCAR champion. 

While that nuance may be foreign, one thing familiar to all you bettors is wagering on sports. NASCAR has a lot to offer from a gambling perspective. Much like any other track sport, you can bet on the race winner or finishing position (i.e., top three, five, 10). You also can bet on race futures (i.e., Driver X will win Race Y in two months), manufacturer odds (bet on which car manufacturer the winner will be driving), live odds or a variety of specialty race props. 

One of the most competitive, and potentially profitable, forms of race betting is head-to-head betting. In a head-to-head bet, two drivers are pitted against each other, and bettors pick which driver of the two will cross the line first. Much like any head-to-head sporting event, each driver is given odds, and you select the driver/odds combination that you like. 

Of course, you shouldn't randomly pick drivers. Just like you would in the NFL, you need to have an understanding of the many factors, such as hot streaks, quality of defensive or offensive lines, coach's history, weather, etc. This is no different with NASCAR. 

Some things to keep in mind when thinking about a wager are the type of track, current hot/cold streaks, quality of the pit crew and the driver's motivation (drivers high on the points list may simply want an average finish, while those lower may need a top 10 finish). 

So with that in mind, we asked Ben Conroy, Trading Operations Manager at FOX Bet, about any easy head-to-head plays this weekend for beginners: 

"When the race is as wide open as this, head-to-head betting can be a smart play," Conroy said.

"Denny Hamlin has to be the focus here as he’s just so consistent at Daytona. He’s only been out of the top five once in the last eight years, and he’s won three of those races. You can back Hamlin to beat Joey Logano at -118, which seems more than fair on their previous performances."

As you can see, there is more than enough intricacy involved in NASCAR betting if you are willing to devote the research time. If you are looking for a bit of excitement and haven't given it a try, take a look at betting on the Daytona 500 on Sunday. Just be sure to buckle up, start your engines and take a race over to FOX Bet.

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