Best F1 Betting Sites in the USA 2024

Can you bet on F1?

As F1 is one of the world’s most popular and watched sports, it has attracted a big audience of sports bettors worldwide. The sport of F1 is multifaceted, with many different drivers to choose from, teams to consider, and races to bet on. In addition to this, there are many different betting service providers to choose from. You can bet in your own private capacity, through brick-and-mortar establishments, or through online sportsbooks.

Is F1 betting profitable?

Betting on F1 can be highly profitable; however, as it is with all gambling, extremely risky. You have as much chance to lose money as you do to make it. Nevertheless, globally, many F1 betting enthusiasts have made a great fortune, while many more have yet to see a return. In the world of gambling, theoretically, someone must be losing money for someone else to be winning it. Regarding F1 betting, in particular, the sheer size of the F1 betting world can serve as a clear indication of how profitable it is. With many betters staying and many new betters entering the field, the space of F1 betting is clearly lucrative enough to keep attracting budding hopefuls while maintaining the profitable enthusiasm of its existing customer base.

How do F1 bets work?

F1 betting works in many ways. In terms of placing bets, one can do this through a variety of methods, including private betting pools, physical betting establishments such as casinos and sports bars, and online betting through sportsbooks.

Regarding placing F1 bets, there are many prevalent markets to choose from. So, here is a list of some of the more popular aspects of F1 to place bets on:
To-Win bets

Bets are placed on a particular driver to finish in first place in a specific race.
Podium Finish

Bets are placed on drivers to finish in the podium positions in a particular race; podium finishing positions are awarded to drivers who place 1st, 2nd, and 3rd.
Driver Matchups

These are wagers where two drivers are chosen, and the bet is placed between which driver will finish in a higher position than the other.
Proposition Bets

Proposition bets or ‘prop’ bets are simply wagers made based on the proposal of an event happening or not happening.
Pole Position

This bet is placed on whether a particular driver or team will qualify to start the race in the ‘pole’ position. This position is reserved for the driver who sets the fastest time in qualifying and allows them to start the race at the top of the racing grid.
Futures Bets

These bets are arguably the simplest. This wager is taken over which team or driver is predicted to be either the champions at the end of the season or land in a particular rank, based on the nature of the agreed wager.

How do I bet on F1 online?

Betting on F1 is not as complicated as it used to be. There are many methods that you can use to cast your wager. For example, you can bet through brick-and-mortar establishments like casinos and sports bars, or you can place your bet virtually through online sportsbooks.

Comparing the Best Sportsbooks

Let’s take a detailed look at the top-ranked sportsbooks and betting apps mentioned earlier and see how they compare.

F1 Betting Explained

Formula 1, or F1, is the pinnacle of single-seater motorsport racing. This category uses the latest engineering technology to produce the fastest track cars globally. Subsequently, these vehicles require the best drivers in the world to pilot them, and what you’re left with is a motorsports masterpiece. 

The sport is multifaceted, and the performance of a team or a driver is affected by many variables, for example, the skills of the driver, the performance of the pit crew, the performance of the car, the associated weather on race day, the decision making of the team principal, to name a few.

The race concept is simple, the cars are set off from a grid formation and are required to complete a set amount of laps on the race circuit, and the first car to finish is deemed the winner. Therefore, betting on this sport is as simple as its concept.

A bet could be made in the following ways: betting for the overall race winner, betting on certain drivers to finish in certain positions (3rd,5th,9th, etc.), betting on ‘head-to-head driver matchups, betting on which drivers will reach pole position (1st,2nd,3rd), and lastly, betting against which driver or racing team will finish in a certain position at the end of the race season (futures betting).

F1 Betting Markets

Take note of the different markets that you can use to bet online, as this will certainly change your outlook and the way that you bet on Formula 1 moving forward.

Ante-post Betting Market

This betting market is very simple. Bets are placed well ahead of the race before the line-up of racers or other similar factors are announced or known. These types of bets can be made a day, a week, or even months before the event.

Championship Winner

This market is for bettors who place wagers specifically for or against the overall winner of a particular F1 season. These bets are available throughout the season and even before it starts.

Constructors’ Championship

In F1, the Constructors Championship award is given to the best team of the season. This is measured on all races throughout the year and awarded to the team with the most points. The constructors’ championship betting market is simply based on this award, where bettors place wagers for and against which teams they believe will place in a particular rank at the end of the season.

Race Winner Markets

The race winners’ market is based on placing wagers against who they believe will win a particular race or, in some cases, finish on the podium.

Bonuses Available at F1 Betting Sites

All online betting sites and sportsbooks offer a range of enticing bonuses to reward their user’s involvement and loyalty. The most common types of bonuses include the ‘Match Deposit Bonus,’ the ‘No Deposit Bonus,’ and the ‘Free Bets’ bonus.

Match Deposit Bonuses

This bonus is usually offered to first-time users upon making their first deposit. The sportsbook matches your first deposit, giving you an extra boost to your balance. Plus, online sportsbooks often advertise this type of bonus before big games to attract users to their platform. 

Suppose you deposit $100 into the sportsbook account of your choice to bet on the upcoming F1 race. As it’s your first deposit on the sportsbook, a ‘matched bonus’ will match 100% of your first bet. This results in you having a $200 dollar first-bet opportunity on the upcoming race. Do note, however, that you may be required to wager at particular odds, generally +100 or above. 

No Deposit Bonuses

This bonus appears in several ways, but most regularly as a sign-up or loyalty incentive to long-standing users. In addition, online sportsbooks will use this to stimulate betting pools to attract more customers and create a more attractive betting environment for all users.

Consider the following a simple example of a ‘no deposit bonus.’ By signing up and creating an account with a certain online sportsbook for F1 betting, you will receive $100 to use on-site. This is a ‘gift’ from the sportsbook and is given to you before you’ve deposited any real money into your sportsbook account. 

Free Bets

Online sportsbooks usually award this bonus to new customers or encourage loyalty or user participation at certain times. This bonus could also be considered a ‘boost’ to stimulate users to bet more.

A ‘free bet‘ bonus works in the following way. Like a ‘matched deposit’ bonus, the user is awarded the opportunity to place a bet without the risk of losing money, essentially for free. The user places a wager with the amount granted with the ‘free bet’ bonus, say $50. If the bet is successful, the user will be paid out the winnings, and if the bet is unsuccessful, the user, for this wager, will not lose any of their personal finances.

Live Betting with Formula 1 Sportsbooks

The most common form of live betting on F1 today uses online sportsbooks like the examples discussed earlier. F1 live betting can occur in other settings like private betting clubs, wagers between friends, or sports bars and casinos. Live F1 betting in casinos and sports bars is rare. Often not the preferred method amongst consumers as the maintenance of tracking bets and fairly measuring accurate results becomes more complicated. In most cases, some type of online software, like what you would find on online sportsbooks, is used to keep track of all the information.

As mentioned, the most popular method for F1 live betting is the BetOnline online sportsbook. Here, your bets and wagers happen in real time, and the event’s security is guaranteed to a greater extent. Furthermore, while accessing the online sportsbook, you can view more detailed race statistics in real-time and place better wagers. 

Biggest F1 Races to Bet On

The biggest races in F1 to bet on are measured by the highest opportunity to profit. Amongst F1 betting enthusiasts, these races are chosen by factors such as their location, potential viewership, and position in the racing year. Here are four great Grand Prix events to keep an eye on:

Bahrain Grand Prix

Although this race is not the most popular in terms of viewership, it is the first race of the season. There exists a maximum opportunity for a surprise at the first event; the drivers are extra nervous, the teams and drivers are still working out their vehicles, and the scoreboard is empty. Regarding an opportunity to place wagers, it’s a gambling paradise.

Monaco Grand Prix

The Monaco Grand Prix has it all: prestige, viewership, and unpredictability. This race is undoubtedly the most prestigious event of the year, and it takes place on a legendary circuit through the streets of Monaco. The circuit is notoriously difficult on drivers, their vehicles, and pit crews, which provides good opportunities and interest for F1 gambling enthusiasts.

Italian Grand Prix

The Italian Grand Prix is important for several reasons. The race takes place towards the end of the season, where teams are not only exhausted from the long year but simultaneously battling away for important results to finish the season strong. The event also takes place on a prominent circuit, known for its few corners and long straight, and the event often delivers unexpected results.

Abu Dhabi Grand Prix

The Abu Dhabi Grand Prix is the final race of the season and one of the most anticipated events of the year. Here, the season champions are crowned, and the final results are locked in. For betting enthusiasts, this is their last and final shout, often, wagers have been placed on this event well in advance, and it’s the last opportunity for the year to cash out on F1 betting.

Miami Grand Prix

One of the newer circuits on the F1 calendar, the Miami Grand Prix’s inaugural race was in 2022. Still, it has rapidly become one of the most popular events, drawing in huge crowds of US and global celebrities. Red Bull’s Max Verstappen came first on the Miami podium in 2023, with a record-breaking 1.96 million American viewers tuning in to watch. 

Is F1 Betting Legal in the US?

Betting on F1 in the USA is legal in some states and illegal in others, depending on the laws and regulations. The same is the case when it comes to F1 betting online, as it’s entirely up to the state gambling laws on online sports betting. 

In the states where online betting is legal, all sportsbooks’ offerings are allowed, and most have approved all the betting opportunities you would expect from a sportsbook (Parlay’s, Props, Live, Futures, etc.). 

Payment Methods Available at F1 Betting Sites

All F1 betting sites (sportsbooks) provide a multitude of different options. Some smaller sportsbooks provide fewer and often lesser-used payment methods. Whereas the more prominent betting platforms offer an array of payment methods. 

Traditional Payment Methods

Traditional payment methods still exist for funding your online sportsbook account. However, with the addition of newer options, such as eWallets and crypto, traditional methods have become less and less used. Traditional methods include a physical cash deposit, submitting a written check, credit/debit card, or electronic transfer. 

The decrease in the popularity of traditional payment methods is mostly due to the withdrawal protocols that many online sportsbooks employ. In most cases, withdrawals must proceed through the same method as the original deposit. However, this can take considerably longer if done via a cash deposit or written check.

Cryptocurrency

Though less commonly available at native US sportsbooks (for now), banking with cryptocurrencies is entirely possible when you register with offshore brands like BetOnline and TG Casino. 

Cryptocurrencies, like Bitcoin, operate on decentralized networks based on blockchain technology. Because of this, deposits and withdrawals are usually quicker, and players can make anonymous transactions. In addition, besides occasional, very light mining charges, there are fewer fees associated with crypto banking at online sportsbooks, meaning you get slightly more bang for your buck. 

eWallet Options

eWallets are a very popular option for F1 betting enthusiasts. eWallets offer a very safe and easy-to-use option for funding your online sportsbook, and they also offer a safe way to withdraw funds. With online security being front of mind for many internet users, particularly those depositing and withdrawing funds from online sportsbooks, eWallets offer an extra layer of protection and, ultimately, a hassle-free payment experience.

PayPal, Skrill, and Neteller are good examples of eWallets and some of the more popular and trusted eWallets. However, there are a few other trusted eWallets that betting sites accept; these include EcoPayz, Ukash, iDeal, UnionPay, Giropay, Euteller, Entropay, Entercash, ClickandBuy, and Astropay. So, as you can see, there are many options, and it’s mainly up to the user to decide which eWallet they trust.

Tips for F1 Betting

There are many F1 betting guides online, and these are usually based on opinion and individual winning strategies. However, there are a few F1 betting strategies that work across the board that you may wish to consider. Therefore, here are 5 tips to consider when betting on F1 racing.

1. Place your bets on multiple drivers in the same race

This will help you mitigate your risk and increase your opportunity to profit. Putting your eggs in one basket has never been a good idea.

2. Consider the race circuit

All F1 racing tracks are different, offering different advantages and disadvantages for drivers and particular teams. Therefore, it is wise to consider the history of drivers and teams at each circuit before placing your bets.

3. Considering the racing team and team dynamics

F1 racing victories lend themselves to various variables coming together and performing. Most would consider this solely down to the drivers’ skills; however, this is not the case. When placing bets, you need to consider the team. Make sure you consider how strong the different departments are, the pit crew’s skills, the team manager’s reputation, and the strength of skills of the racing team as one unit.

4. Qualifying times

It’s important to consider the qualifying times of each driver, but it’s not the winning betting formula! Qualifying sessions, much like race day, are affected by many factors, such as the weather, temperature, winds, and driver fatigue. These factors change from day to day and hour to hour. Therefore, when betting on F1, a good tip would be to consider the qualifying times rather than to bet solely on their results.

5. Consider long odds and underdog bets

It may be worth considering diversifying your betting portfolio with one or two wagers on less likely-to-win drivers and teams. F1 is incredibly unpredictable, and you can never know what the outcome of a particular race might be.

Conclusion

It’s incredibly easy to get anxious, confused and caught up in the many options when considering opening an account with an online sportsbook and beginning your F1 betting journey. Always remember to sign up at reputed and widely used sportsbooks. Hence, we recommend platforms like BetOnline, which are highly rated and popular among F1 bettors in the USA.

Platforms like BetOnline provide a wealth of F1 betting options and a range of fiat and crypto promotions for those looking to back Hamilton, Verstappen, and Co. at every Grand Prix event of the season. The customer service is prompt and effective, and our experts also rank this sportsbook No.1 regarding value on the F1 odds.