Formula 1 fans will know it is not very long now until the Monaco Grand Prix, and wherever there is an interest in a sporting event there are always going to be betting companies offering odds on the likely winners of those events, and no shortage of fans of the sport eager to put their money down on who they think will win!

One thing that has been very noticeable on many of the previous Monaco Grand Prix winners is that before the race started the team that did go on to win as the favourite  in the betting markets, and if you were blissfully unaware you can place all manner of weird and wonderful bets on this sporting event

However, the most common bet of all on any Grand Prix simply involves a sports bettor picking out which team they think will win, and if that team does win then that sports bettor wins too. If you are an avid sports bettor and Grand Prix racing is something you do have an interest in then allow us to give you an idea of where the money is currently going in regards to the odds available on each team taking part in the annual Monaco Grand Prix.

It would appear that there are two teams who are many sports bettors most likely winner of this event if you go by the odds available that is and those two teams are Mercedes who are currently the odds on favorite to win at odds of 4/6 and also Ferrari who have slightly higher odds available of 5/4.

The third favourite team and the one that apart from the above two teams is getting the most money bet on them are Red Bull and whether you are a fan of the drink or their F1 team in all fairness they do have a fair and reasonable chance of winning this event, and if you think so you can find odds available currently of 8/1 for them to win.

As soon as you start looking at any other teams in the Monaco Grand Prix other than the three we have already introduced you to you will find their respective odds of winning are huge and as such it is unlikely any of the following teams will win.

However, if you do think one of the outsiders will win, then we would never put you off betting on them! Force India are currently available in the betting markets of odds around 125/1 and who would have thought, a few years ago that McLaren would be on offer to win this event at odds of 200/1 well that is exactly what they are!

Huge odds are available on Toro Rosso and those odds are 250/1 and both Renault and Williams are available at odds of around the 300/1 ark. For those of you who are never afraid of the odds then you may consider betting on Haas to win at odds of 400/1, or the total outsider who surely cannot win is Sauber at odds of 1000/1!