It will be my strategy - to see how favorites goes and then bet opposite

I really do not believe Swiatek will win and I will bet on "others", at least in early phase (with a high time weight multiplier). Some say Bianca Andreescu will defeat Swiatek in 1/4.
But in 2 days they will close bets on F1 GP, I can't wait for the first trainings to see the difference between Ferrari and Red Bull. I am not sur if pole position will be critical, but it is always a good sign.
At this rate, it's not really shocking to wager on Max for each race. Sure he will not win "all" races, but if he wins enough then the wins will be profitable enough to cover for the losses. He is just way too good compared to Charles and Red Bull is far far ahead of ferrari right now.
This is why there will be a few races where Red Bull will not do well of course, but they will still be great for the majority of the races enough to make it worthwhile to wager on all races for them. Or you could just take a risk and wager on Hamilton for each race, lose most races, but if you ever end up right even once, that should be enough to cover all the losses maybe? A risky move for sure.