Sebastian Vettel laid down a marker for the season ahead with a dominant performance to win Formula One’s season opening Australian Grand Prix – and our traders have reacted accordingly.
The German beat Lewis Hamilton and the all-conquering Mercedes on merit in Melbourne, and Vettel’s price for the title has tumbled from 5/1 to just 11/8.
Hamilton, subdued in second, has drifted from Evens to 11/10 to land a fourth world crown this season.
The result in Australia has sparked optimism that the season ahead may finally see a contender take the fight to Mercedes.
Ferrari promised to do so after posting rapid times in pre-season testing, but the Scuderia did the same in 2016 before enduring a winless campaign.
That won’t be happening this year however, with Vettel a deserving winner in Albert Park.
But as our traders re-price the market, it’s bad news for Red Bull.
Daniel Ricciardo suffered a nightmare home Grand Prix and failed to finish, while Max Verstappen never threatened en route to finishing fifth.
What it means is that the Dutchman is now 16/1 to win this year’s title, from 3/1 in the winter.
The Formula One circus now heads to China in a fortnight’s time, and if Ferrari can defeat Mercedes again, then we will have confirmation that a thrilling championship fight lies in store this season.
All Odds and Markets are correct as of the date of publishing