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Max Verstappen won the Monaco Grand Prix for the first time in 2021, but Sergio Perez picked up the win in Monaco last year. They are the top two 2023 Monaco Grand Prix contenders, with Verstappen at 5-4 and Perez at 7-2 in the 2023 Monaco Grand Prix odds at Caesars Sportsbook. Monaco-born Charles Leclerc failed to finish the race in his first three attempts before a strategy error ended his chances of winning last year. He has the third-shortest Monaco GP odds (4-1) for Sunday's race at 9 a.m. ET.

Verstappen is hoping to open a wider gap at the top of the Formula 1 standings, while Perez is trying to keep pace with his Red Bull teammate. Should you include either of them in your 2023 Monaco Grand Prix bets? Before analyzing the 2023 Monaco Grand Prix starting grid and making any Formula 1 picks, be sure to check out the latest 2023 Monaco GP predictions and betting advice from SportsLine's proven projection model.

Developed by daily Fantasy pro and SportsLine predictive data engineer Mike McClure, this proprietary Formula 1 prediction model simulates every race 10,000 times, taking into account factors such as track history and recent results. It's had a strong history of success in motorsports, correctly predicting nine NASCAR winners since the 2021 season and its projected leaderboards have forecasted winners across multiple racing formats.

The model has been scorching hot when it comes to picking Formula 1 race events dating back to 2021. It nailed both of Leclerc's wins in 2022, and at the 2021 Mexican Grand Prix, the model was strongly backing Verstappen as its top pick. The result: Verstappen dominated the field and ran away with a surprise victory. 

The model followed that up by calling Verstappen's win at the Rolex Emilia Romagna GP in April and then nailed his wins again in Belgium, the Netherlands, Japan, the United States, Mexico and Abu Dhabi. It's also nailed Verstappen's wins in Bahrain, Australia and Miami this season. Anyone who followed the model's lead on those plays has seen huge returns

Now, the model has dialed in on the 2023 Formula 1 Monaco Grand Prix and just released its coveted picks and leaderboard projections. You can head to SportsLine now to see the complete 2023 Monaco Grand Prix leaderboard projection.

Top 2023 Formula 1 Monaco GP predictions

One massive shocker: The model is high on Mercedes driver Lewis Hamilton, even though he's a 25-1 longshot. There have been rumors that Hamilton will move to Ferrari, but he told reporters that he is close to inking an extension with Mercedes. He struggled with his car last season, ultimately finishing sixth in the standings.

Hamilton has shown improvement this year, sitting in fourth place in the driver standings heading into Sunday's race. He is a seven-time world champion and has finished sixth or better in the first five races this season. The model expects the three-time Monaco winner's experience to pay off this weekend, making him a valuable wager as a longshot on the F1 odds board. See who else the model is backing and who it is fading right here.

How to make 2023 Monaco Grand Prix picks

The model is also targeting one longshot getting triple-digit Monaco GP odds to make a surprising surge up the leaderboard. Anyone who backs him could hit it big. You can find out who he is, and see all of the model's F1 picks and predictions at SportsLine.

So who wins the Monaco Grand Prix 2023? And which under-the-radar drivers makes a stunning charge towards the front? Check out the latest 2023 F1 odds below, then visit SportsLine now to see the full projected 2023 Monaco Grand Prix leaderboard, all from the model with a proven history of auto racing success, and find out.

2023 Formula 1 Monaco Grand Prix odds, field, top contenders

See Monaco Grand Prix picks at SportsLine

Max Verstappen +120
Sergio Perez +350
Charles Leclerc +400
Fernando Alonso +600
Carlos Sainz +1800
Lewis Hamilton +2500
George Russell +4000
Lance Stroll +6600
Esteban Ocon +30000
Pierre Gasly +30000
Lando Norris +40000
Kevin Magnussen +50000
Alexander Albon +50000
Nico Hulkenberg +50000
Oscar Piastri +75000
Yuki Tsunoda +75000
Guanyu Zhou +75000
Valtteri Bottas +75000
Logan Sargeant +100000
Nyck de Vries +100000