American Marconi Wireless News - Hamilton coy on Monaco chances

He also warned that the high cost of karting made it "unlikely, if not impossible" for anyone to repeat his rise from an ordinary background to F1.

The seven-time champion, whose career was launched in karting by his father's enthusiasm and backing, said he believed that Ferrari would be competitive, but that Mercedes remained the team to beat.

"I'd say this track is better for us than some of the others," he told reporters of Monaco's highly technical circuit.

"I don't think power is necessarily going to be an issue here. Our car is good at low speeds so I think that will make us competitive."

The 41-year-old, who is preparing for his 19th Monaco race, was more animated when talking about the prohibitive problems facing talented, but under-funded, drivers from ordinary backgrounds.

Hamilton, the first black driver in Formula One, grew up on a council estate in Stevenage.

"I know someone who has a kid, who is eight years old, that is spending over a million dollars a year," he explained.

"When I started, my dad spent around £53,000 ($71,000) in the first year. That was remortgaging the house and maxing out all the credit cards."

He said he felt that the pathway to F1 was no longer open to all young drivers.

"It's not who has the most talent coming through, but it's the families with the most money that create more chances for their kids.

"In my opinion, it's something that is going in the wrong direction, constantly, and there needs to be some way to make it accessible."

Hamilton's father Anthony held down several jobs to fund his early career before they met -- and were later supported by -- Ron Dennis, McLaren and Mercedes.

He recalled also an early experience when he was a karting team-mate and friend with Nico Rosberg, who would later join him at Mercedes and beat him to the 2016 drivers' title, when they flew to the Monaco Grand Prix.

"I remember getting on his dad's jet and thinking, 'I didn't even know they had jets.' Then there was a helicopter waiting... It was like James Bond!"

He said the experience inspired him, adding that he recalled the view from the Monte Carlo apartment building they stayed in.

He told himself that one day, he too would "live somewhere like this".

He now lives in that same building and still finds it difficult to believe.

G.Stevens--AMWN