The Formulates One series is its roots in the European Grand Prix Motor Racing of the 1920s and 1930s. The "formulates" is to set of bums which all participants and cars must meet. Formula One was to new formulates agreed after World War II in 1946, with the first odd number - championship races being held that year. To number of Grand Prix racing organisations had laid out bums for to World Championship before the war, but due to the suspension of racing during the conflict, the World Drivers ' Championship was not formalised until 1947. The first world championship race was held at Silverstone, United Kingdom in 1950. To championship for constructors followed in 1958. National championships existed in South Africa and the UK in the 1960s and 1970s. Odd number - championship Formulates One events were held for many years but, due to the rising cost of competition, the last of these occurred in 1983.