Michael Schumacher is back, there are new teams set to line up on the grid and there are both new and existing rivalries ready to explode
The 2010 Formula One season gets underway in Bahrain next weekend with Fernando Alonso favourite to take the Drivers Championship, best priced 11/4 with William Hill ahead of practice at Bahrain's Sakhir circuit.
With seven-time champion Schumacher returning and with the Malaysian-owned Lotus Racing team back in F1, there's something of a retro feel to the sport heading into the season-opener, especially now that there is a ban to refuelling stops - something last season way before Schumacher had claimed his first title.
Schumacher, now aged 41, is a best price 13/2 (Sportingbet) to make a stunning return by claiming another Drivers Championship but while the Mercedes team (previously Brawn GP) have the resources and experience to compete for the Constructors Title, it's hard to see a fairytale comeback for the German although winning at least one race is a distinct possibility.
And don't forget that Schumacher isn't the only veteran making his return this year, with Spaniard Pedro de la Rosa (150/1 Sportingbet) back in an F1 car with Sauber alongside Japanese driver Kamui Kobayashi (125/1 Sportingbet), who impressed at Toyota during the last two races of last season.
Alonso is one of several who have a strong chance of beating Schumacher and winning this season's Championship. His team-mate at Ferrari this year, Brazilian Felipe Massa, is a best price 10/1 with Sky Bet and will have strong support from punters as he returns from the life-threatening head injuries he suffered last summer.
Ferrari have already looked the team to beat from pre-season testing, while Red Bull and McLaren haven't been too far behind. Those three teams and Mercedes all look capable of challenging this year.
There was plenty of support for Brawn last season and no doubt that after the pre-season acquisition, Mercedes will be well backed for the Constructors Championship. With a week to go until the season-opener, Ferrari are current favourites for that title at a best price 2/1 with Ladbrokes ahead of McLaren (33/10 bwin), Red Bull (10/3 Boylesports) and Mercedes (11/2 totesport).
McLaren impressed in testing in Barcelona and look a good bet for the Constructors title, but the key for the new season is not just about raw speed, but also about consistency and ensuring tyres aren't worn out early in races, which is crucial this year with the new refuelling rules meaning cars are heavier.
This year's calendar has also been expanded to 19 races, with Formula One returning to Canada as well as making its debut in South Korea.
Realistically, there are six drivers in with a shot of winning this year's title. Although we don't think Schumacher (13/2 Sportingbet) will be that man, Mercedes appear to be confident about his chances and he's bound to have plenty of support from punters.
Other than the Ferrari duo, Lewis Hamilton (9/2 bwin), Sebastian Vettel (5/1 Boylesports) and Jenson Button (14/1 bwin) look to have a good chance.
Lewis Hamilton recently said of the forthcoming season: "In terms of the drivers, you've got Felipe, Fernando, Jenson, probably Vettel and Mark Webber because obviously they've got a quick car, Michael and Nico (Rosberg).
"It's really difficult to say who is the most competitive out of all of them, but at the moment the Ferrari looks the fastest I think."
Vettel and Webber (17/1 Expekt) both impressed last year with Red Bull, while Nico Rosberg (28/1 Sportingbet) lines up alongside Schumacher at Mercedes after leaving Williams at the end of last season.
Webber may find that he is left playing second fiddle to Vettel this year and should the Red Bull car be consistent then Vettel stands a good chance of success. But it may be a few races at least before we know just how reliable the Red Bull car is going to be in 2010.
In Hamilton and Button - who are likely to be treated equally by their team - the all-British line-up looks capable of helping McLaren to take the Constructors title, while in a solid Ferrari car, 2010 may well be the year when Fernando Alonso wins his third Drivers Championship.
2010 Formula One Recommended bets:Back Fernando Alonso to win the Drivers Championship @ 11/4 William HillBack McLaren to win the Constructors Championship @ 33/10 bwinBack Michael Schumacher to win a race @ 1/3 Blue SquareBack Mark Webber NOT to win a race @ 11/8 Blue Square
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