Formula 1: There's suddenly a new favorite to challenge McLaren

Charles Leclerc led a 1-2 finish for Ferrari at Circuit of the Americas to win the United States Grand Prix for the first time, leading teammate Carlos Sainz Jr. across the line by 8.562 seconds to secure his eighth career Formula 1 victory. The win is his third of the year, matching his single-season career-high from 2022.

Ferrari's second 1-2 finish of the 2024 season, coupled with the fact that they were the top scoring team in Saturday afternoon's 19-lap sprint race around the 20-turn, 3.427-mile (5.515-kilometer) road course in Austin, Texas, means that they now trail Red Bull by only eight points for second place in the constructor standings behind McLaren.

And the Scuderia are now only 48 points behind McLaren themselves, following a weekend during which they outscored the Woking-based team by 27 total points.

There are five races, plus two sprint races, remaining on the 2024 Formula 1 schedule.

At FanDuel Sportsbook, McLaren are still listed as the overwhelming favorites to win the constructor title, but their -850 odds are not as short as they were before a somewhat underwhelming United States Grand Prix weekend.

Red Bull had been listed second, but now Ferrari are listed as the comfortable second favorite at +650, with Red Bull behind them at +1300.

Ferrari's newfound status as McLaren's most likely challenger comes amid an uptick in form that has seen Leclerc win multiple races and take podium finishes in five of the six most recent events.

Ferrari have outscored Red Bull in five of the seven most recent races, and they fell only three points and one point shy of the two-time reigning world constructor champions in the two races when Red Bull were ahead. In the other five races during that stretch, they outscored Red Bull by 67 points.

A Ferrari constructor title would be their first since 2008. McLaren are seeking their first since 1998.

On the driver side, Red Bull's Max Verstappen is still the world championship leader, and he is still the betting favorite at -450. McLaren's Lando Norris, who trails him by 57 points, is listed as the second favorite at +310. Though Leclerc is only 22 points behind Norris, he is listed as a +5000 longshot.

Odds and availability are always subject to change.

The next race on the 2024 Formula 1 schedule is the second of three races in the current tripleheader. The Mexico City Grand Prix is set to be broadcast live on ABC from Autodromo Hermanos Rodriguez beginning at 3:55 p.m. ET on Sunday, October 27. Start a free trial of FuboTV and don't miss it!