McLaren's Lando Norris held off Red Bull's Max Verstappen to secure his first career Formula 1 world championship by just two points in the 2025 season finale at Yas Marina Circuit.
Verstappen, who had trailed Norris by 70 points and McLaren's Oscar Piastri by 104 just a few months prior, closed out the season with three consecutive victories and 10 consecutive podium finishes, but it was not enough to win what would have been a fifth straight title.
Norris opened up the offseason as a co-favorite to win the 2026 world championship, along with Mercedes' George Russell, at +250, with still very much uncertainty regarding what the pecking order might look like as Formula 1 prepares to enter a new era of regulations. Such long odds for a preseason favorite had been practically unheard of in the modern era.
Lando Norris continues to slide as 2026 F1 season approaches
It did not take long for Norris to lose his status as the favorite, and amid recent developments regarding the strength of both Mercedes and Red Bull, along with concerns in the McLaren garage that they won't have nearly the advantage they've had over the rest of the grid since mid-2024, the 26-year-old Briton has plummeted as the start of the 2026 season continues to inch closer.
At FanDuel Sportsbook, Russell is a slight favorite at +240, just ahead of Verstappen at +280, but Norris has dropped all the way down to +650, just ahead of Piastri at +850. Mercedes' Kimi Antonelli is creeping up on the favorites now at +950 himself, with Aston Martin's Fernando Alonso even lurking at +1000.
Perhaps even more notably, McLaren are no longer the favorites to win their third consecutive constructor championship either. Mercedes, which won eight in a row from 2014 to 2021 to begin the turbo hybrid era but have not won since, find themselves at +125 following a runner-up finish to McLaren in 2025. McLaren sit behind them at +190.
Red Bull, Aston Martin, and Ferrari round out the top five at +800, +900, and +1000, respectively. Ferrari's duo of Charles Leclerc and Lewis Hamilton find themselves seventh and eighth on the driver side at +1600 and +1700.
Full Formula 1 world championship odds can be found here and are always subject to change.
The Australian Grand Prix is scheduled to get the 2026 Formula 1 season underway on Sunday, March 8 at Albert Park Circuit, with live coverage set to be provided by Apple TV.