The Formula 1 tour moves to Australia this weekend and both Lewis Hamilton and Jensen Button look to be back in form. Hamilton may be in too good a form having been booked by Australian police for ‘hooning’. His car was impounded by police after he spun his wheels excessively leaving the race track. He was certainly in a good mood having registered the fastest time in practice sessions.

Jensen Button would have been equally as happy having returned the second fastest time of the day. Bookmakers seem to have deserted the pair, which could be good for punters, with Hamilton’s betting odds at 11/2 and Button’s at 14/1. If their cars are firing and they both continue to handle the track, they will give this race a big shake.

Race favourite is Sebastian Vetter who’s betting odds of 2/1 seem a little short. He failed to handle the track well in practice and could be a bit of a risk at that price. His team mate Mark Webber is at much better odds of 7/1 – given his home track and his desire to win at least one home Grand Prix, this could be the year. He was third fastest in practice and if the leaders make one slip, he will be there to pounce.

Fernando Alonso, the winner of the opening Grand Prix, is second favourite at 11/4. It is hard to assess his form since he didn’t really push his car in practice. In fact, Michael Schumacher did better finishing the day as the fourth fastest. He too is at 14/1 with online bookmakers, betting odds that are again quite attractive.

The betting odds are such you could back Hamilton, Button, Webber and Schumacher and still make a good profit if one of them salutes. Of course, if none of them do, you could lose a bit as well – but that of course is what gambling is all about.