Lewis Hamilton suffers huge Mercedes blow after signing Ferrari contract

Lewis Hamilton recently confirmed that he will be moving to Ferrari at the end of the 2024 Formula 1 season.

UK-based bookmakers have significantly reduced the odds of Lewis Hamilton clinching the 2024 Formula 1 World Championship to 11 percent, subsequent to the announcement of his move to Ferrari in 2025.

Previously, these bookmakers had assigned a 28 percent probability to the seven-time world champion securing his historic eighth F1 crown in 2024, according to My Betting Edge.

In light of Hamilton’s impending departure, George Russell’s prospects of claiming the 2024 title have surged from seven percent to 13 percent.

Hamilton concluded the 2023 season in third place in the Drivers’ Championship standings, and he is poised to make a grand exit in his final year at Mercedes in the forthcoming season.

READ: Lewis Hamilton warned about making Charles Leclerc his number two

The British racer came tantalisingly close to surpassing Michael Schumacher’s championship record in 2021.

However, a series of contentious decisions by the then-FIA race director Michael Masi ultimately thwarted his quest for glory, enabling Max Verstappen to secure his maiden F1 championship victory.

Verstappen has since clinched two additional Formula 1 titles, prompting bookmakers to bestow upon him a 59 percent likelihood of claiming a fourth world championship this year.