Formula One, abbreviated to F1, is the highest class of open-wheeled auto racing defined by the Fédération Internationale de l'Automobile (FIA), motorsport's world governing body.[1] The "formula" in the name refers to a set of rules to which all participants and cars must conform.[2] The F1 World Championship season consists of a series of races, known as Grands Prix, held usually on purpose-built circuits, and in a few cases on closed city streets.[3] The World Drivers' Championship is presented by the FIA to the most successful F1 driver over the course of the season through a points system based on individual Grand Prix results.[4] The World Championship is won when it is no longer mathematically possible for another competitor to overtake their points total regardless of the outcome of the remaining races,[5] although it is not officially awarded until the FIA Prize Giving Ceremony held in various cities following the conclusion of the season.[6][7]