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An F1 circuit has its limits clearly defined by a white line on either side of the tarmac. Drivers are not supposed to put all four wheels outside these limits, but they often do. Sometimes it's to overtake and sometimes it's just a result of running wide or getting a corner wrong.
If someone does leave the track limits, the stewards first have to decide whether to investigate it at all, and they then decide if the driver has gained a "lasting advantage." If they deem he has, he gets a penalty.
If the offense happened in qualifying, the driver may lose his lap time. If in the race, he may be forced to give a position back, or in extreme cases given a drive-through penalty.
And if everyone does it, no one gets a penalty at all.
But it shouldn't even be an issue.
The tarmac run-off areas directly on from the entry or middle of a corner are important for safety reasons.
But the concrete and tarmac beyond the kerbs on exits is only there to reduce the penalty for making a mistake. This is the pinnacle of motorsport—mistakes at this level should be punished.
Corner exits on non-street circuits should have a mandatory two-metre strip of either natural grass, gravel or suitably similar substance beyond whatever kerbing is in place. Race organisers would have to put it there.
If a driver puts a couple of wheels on it, he'll lose traction and at the very least some time.
This would eliminate any advantage gained by running wide, mean that mistakes are punished and make the drivers stick to the limits of the track—like they're supposed to.
Exceptions would apply for very high-speed corners such as 130R, Eau Rouge and Blanchimont. These would need to be agreed in advance.