Formula 1 has long been viewed as the pinnacle of motorsport, making it hugely attractive to broadcasters and sponsors alike.
The popularity of the series is at an all-time high, with much of its growth fuelled by the global exposure it has gained in recent years.
This has inevitably led to increased interest from other industries, each of which have been eager to grab a piece of the lucrative pie.
For example, a quick look at the Fitzdares sportsbook highlights just how popular F1 has become with the online gambling industry.
It was once the case that bookmakers offered a limited range of odds on F1, but punters can now choose from a wide range of markets throughout the season.
These include the all-important Drivers’ Championship, which features sportsmen who rake in a staggering amount of money each year.
For any young racer thinking about a career in motorsports, aspiring to join the F1 series would not be a bad move when considering what the top drivers earn:
- Max Verstappen (Red Bull) – $53 million (until 2028)
- Lewis Hamilton (Mercedes) – $40 million (until 2023)
- Lando Norris (McLaren) – $22.5 million (until 2025)
- Fernando Alonso (Alpine) – $20 million (until 2022)
- Sebastian Vettel (Aston Martin) – $15 million (until 2022)
- Daniel Ricciardo (McLaren) – $15 million (until 2023)
- Charles Leclerc (Ferrari) – $12 million (until 2024)
- Carlos Sainz (Ferrari) – $10 million (until 2022)
- Valtteri Bottas (Alfa Romeo) – $10 million (until 2025)
- Lance Stroll (Aston Martin) – $10 million (rolling)
It is no surprise to see Max Verstappen at the top of the standings, although he reportedly may be knocked off his perch by Lewis Hamilton over the coming months.
The 2021 world champion signed a new contract until 2028 earlier this year, which is estimated to be worth around $53 million per year.
The deal put him ahead of the seven-time title winner – a just reward for his efforts in helping Red Bull dominate the sport over the past couple of seasons.
However, Hamilton may well challenge Verstappen in the earnings stakes when he renegotiates his contract with the Mercedes team.
The 37-year-old’s future in the sport was in doubt when he lost the title to Verstappen last season and he has struggled to keep pace with his rival this year.
Despite this, Hamilton has rejected talk of retirement and is eager to help Mercedes regain their place at the top of the tree in F1.
Team principal Toto Wolff recently claimed that Hamilton could extend his deal by ‘another five years’ and his annual salary is likely to match Verstappen’s.
Lando Norris and George Russell look best placed of the next generation of drivers to become F1’s highest earners over the next few seasons.
Norris signed a new deal with McLaren earlier this year to move up to third in the standings, and his title-winning potential could see him targeted by Mercedes when Hamilton eventually retires.
Russell is already on board with the German team and is currently locked into a three-year deal worth around $6m per year.
The 24-year-old’s impressive performances this season have showcased his ability and he looks certain to cash in financially as he gains more experience.