The sport is unique of the top five watched sporting events Racing School in the world, alongside the FIFA World Cup, the Olympic Games, the Super Bowl and the UEFA European Football Championship. Prescription Definite is, by any measure, the most fancy sport in the world, with some teams spending in excess of $400 million per year. Formula One is widely weighed to be the pinnacle of motorsports, with the F1 Drivers' Championship being one of, and the oldest among, only three Human Race Championships awarded each civil year by the FIA (the others being the Cosmos Touring Car Championship and the Everybody Rally Championship).

There are big notable one-make formulae from various unaligned nations and regions, some of which – such as the Porsche Supercup and, previously, IROC – have fostered frequent distinct national championships. Odd marque series are often found at club level, to which the production-based cars, limited modifications, and close parity in performance are very well suited. There are also single-chassis particular seater formulae, such as Formula Ford, Formula Saab, Rite BMW, and defunct Procedure Vee, usually as "feeder" chain for "senior" race formula (in the fashion of egg orchard teams).