Formula one betting: Title odds for 2008

Fernando Alonso is a best-priced 8/1 shot to reclaim the Formula One world title after he conceded that he would need "the perfect season" if he is to again win the F1 crown with Renault. Click here for your free £100 from Bet365 to bet on Formula One Bet365 have the Spaniard fourth in the betting behind the Ferraris of Kimi Raikkonene, who is favourtie to take the title for the second successive season at 7/4 and Felipe Massa who is third favourite at 5/1. Sandwiching them is Alonso's former team-mate Lewis Hamilton, who is a best priced 2/1 to go one better than last season and claim the title for McLaren in only his second season in F1. Alonso has rejoined the Renault team after a turbulent season with McLaren and the former world champion knows that he has a lot of work to do if he is to reclaim the form that won him the world title with Renault in 2005 and 2006. The move finally ended speculation surrounding the future of the 26-year-old after his recent split from Ron Dennis's team. Renault had a miserable season last time out as Giancarlo Fisichella and Heikki Kovalainen could only guide the team into a disappointing fourth in the constructors' title race. Both drivers have already been ditched for 2008 by team owner Flavio Briatore and Alonso will now spearhead their charge and it will come down to the car beneath him to decide whether he will challenge the Ferraris and McLarens. "Maybe Renault can be part of the top teams again next season," said Alonso after signing a deal that reportedly makes him the highest-paid driver on the grid. "The challenge is for them to go back to the top of the [time] sheet in January or February, and then get closer to the podiums next season. They have suffered more than enough this year. But, as for the title, we will see what can be done. We shouldn't put the cart before the horse." Alonso conceded his decision on where to drive next year was not an easy one to make given the interest in his services. It was helped by the fact Renault avoided punishment for their role in the spy saga, despite the fact they were found guilty of fraudulent conduct. Although refusing to divulge the number of options open to him, he added: "I'm one of the 22 privileged people who drives a Formula One car each year. I'm even more privileged to be one of those who can afford to leave one great team and end up in another great team. In the end, I chose Renault considering their commitment to the sport and because of their strong track record." Click here for your free £100 from Bet365 to bet on Formula One