Formula 1 Betting - Michael Schumacher Joint Favourite for 2010 Champion

Irish bookmaker Paddy Power has made Michael Schumacher joint betting favourite with Fernando Alonso at odds of 10/3 for the 2010 F1 driver's title. The veteran German showed some good speed onboard the new Mercedes in the first testing of the season and ended up third fastest. Schumacher was at odds of 9/1 when he announced his return in December.

Ferrari's new recruit Alonso impressed the 30,000 strong Spanish crowd by posting the fastest time by more than half a second from the chasing pack. Alonso was at betting odds of 4/1 before testing and has shortened to 10/3 following his run.

Roberto Coladangelo, spokesman for Paddy Power, said: "The 2010 season is shaping up to be a classic and the early signs show Schumacher is certainly not just there to make up the numbers."

Briton's Lewis Hamilton and Jenson Button, 7/2 - previously 11/4 betting favourite - and 9/1 respectively for the title, were a little off the pace but the McLaren team said they were happy with the car overall.

Latest Betting Odds - 2010 Formula 1 World Champion

10/3 Schumacher, 10/3 Alonso, 7/2 Hamilton, 6/1 Vettel, 7/1 Massa, 9/1 Button, 14/1 Rosberg