F1 is one of the biggest sports in the world, often attracting considerably more viewership than some of the American motorsports. Hence, it’s no surprise that Formula One is also one of the most popular sports to bet on. Motorsports betting has snowballed from the days of betting in-person to online betting, and now there are several F1 betting sites.
There are many channels to profit off one’s bets, with some being riskier than others and, in the same way, more profitable. This article will look into the nuances of F1 betting and dive into topics such as the best motorsports betting sites, markets, live betting, biggest Formula 1 races to bet on, F1 betting payment methods, the legalities of F1 betting, and a few tips and tricks for how you can profit.
With so many Formula 1 betting sites to pick from, each with its own pros and cons, which one should you choose and trust? The following online F1 betting sportsbooks have been outlined to be the best. Each of these sportsbooks has its own focus service, offerings, and benefits. How should you choose?
We’ve reviewed the top sites for F1 betting from top to bottom so that you have a better idea as to which platforms you should consider signing up with.
BetMGM is considered the most credible, trustworthy, and easy-to-use F1 sportsbook available. A lot of BetMGM’s credibility is because it is literally a product of casino conglomerate MGM. This link to MGM gives its users peace of mind through brand affiliation and recognition. In addition, the user experience of BetMGM’s site is laid out neatly, making it one of the easier sites to navigate and understand.
The site gives you the ability to customize your feed by setting ‘favorites’; this helps you cut out the information you don’t want to see and allows you to focus specifically on the statistics and information based on the sports of your choice. Alongside the ‘favorites’ tab on the BetMGM site, there is a ‘promotions’ tab; this allows you to see all running user promotions including the BetMGM NJ bonus code giving you the best ability to maximize your return on investment for using the sportsbook.
Much like other sportsbooks, Borgata sportsbook provides a ‘media’ section where you can view live stats, F1 betting odds, and make in-game bets. Regarding funding, Borgata’s sportsbook accepts all major options, including bank transfers, debit/credit cards, and payment options like Skrill and PayPal, to list a few. Users can also enjoy the Borgata welcome bonus code for their initial deposit on the site.
FanDuel is considered to be one of the best online gambling sites in the USA. FanDuel is offered across all US states where it is legal to place bets on sports. Like other sportsbooks, the security features restrict you to only accessing the sportsbook and placing bets if you are physically located within the US states where FanDuel holds licenses. This further adds to the sportsbook’s legitimacy and trustworthiness.
The sportsbooks layout and user interface are smooth and well-designed. FanDuel accepts all payment methods, even checks; you do, however, have to withdraw your cash using the same deposit method. You can also enjoy the new FanDuel sportsbook bonuses when making a deposit. Unlike most other sportsbooks, FanDuel offers free access to a ‘VIP players club,’ where users have access to great rewards and promotions. Plus, FanDuel has heavily focused on its live betting services, making it an excellent option for F1 betting.
DraftKings sportsbook is one of the best in the game and among the top choices for F1 betting as well. With one of the largest user bases, it’s clear that DraftKings is doing something right. The sportsbook puts a lot of effort into its easy-to-use and seamless betting interface. Plus, DraftKings’ live-betting section comes with fast-updating odds and quick navigation, which makes placing bets in real time as simple as possible.
DraftKings is famous for their extensive list of DraftKings sportsbook bonuses. For first-time users, DraftKings offers three different welcome offers, which is tough to find amongst other sportsbooks. DraftKings also offers 24/7 customer support, making it a very good option for beginners. In addition, DraftKings accepts multiple payment options, including traditional banking options and eWallets.
Pointsbet is one of the most trustworthy names in the game. The company was founded in 2015 in Australia and became a household brand there before its major success in the USA later. Today, as well as Formula One, Pointsbet is even associated with the PGA Tour, which further cements its legitimacy as a world class online sportsbook.
In addition, Pointsbet is available in all US states where online sports betting is legal. Pointsbet offers one of the best user experiences out of any sportsbook; the user interface is easy to use and understand. Both the website and the app are smooth, responsive, and straightforward.
Pointsbet offers all that you would expect from a major sportsbook including attractive Pointsbet bonuses, with the added feature of being able to create your own betting market; they refer to this as ‘requesting your own bet.’
Pointsbet allows funds to be deposited through all the usual channels and offers zero transfer fees on deposits and withdrawals; however, withdrawals are reported to take anywhere between one to three business days. Pointsbet also boasts some of the best customer service offerings out of any sportsbook, with 24/7 customer support via live chat, phone, email, and even social media. This is a major differentiation between them and some of their competitors.
Unibet originated in the UK in the late 1990s but only launched in the USA in 2019, making them relatively new to the US market. They offer a great sportsbook service with a very sleek and friendly user interface experience. Moreover, the website and the app boast a standard sportsbook layout and function incredibly well.
Unibet provides a great live betting service, offering this service across all major competitions. The interface is easy to use for beginners and updates F1 betting odds and stats in real time, making placing successful bets that much easier. Unibet makes deposits simple; they accept all the standard deposit methods that you would expect, with the addition of being able to make cash deposits at the Hardrock Casino in New Jersey. They also treat users well with a good selection of Unibet sportsbook bonuses that can come in handy.
Take a look at some frequently asked questions and answers about F1 betting, which have been offered up by our experts!
As F1 is one of the world’s most popular and watched sports, it naturally 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.
Betting on F1 is 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 have yet to see any. 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.
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 of the two 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.
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 simply place your bet virtually through online sportsbooks.
Let’s take a detailed look into the six sportsbooks mentioned and consider a variety of factors which will be outlined in the table below:
Formula 1, or F1, is the pinnacle of single-seater motorsport racing. This category of racing uses the latest technology in engineering to produce the fastest track cars in the world. These vehicles subsequently 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).
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.
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 itself.
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.
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.
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.
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.
This bonus is usually offered to first-time users upon making their first deposit. The sportsbook will simply offer you a bonus by matching your first deposit, giving you an extra boost to your balance. Plus, online sportsbooks will 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 deposit on the sportsbook, it has offered you a ‘matched bonus’ that will match 100% of your first bet. This results in you having a $200 dollar first-bet opportunity on the upcoming race.
This bonus can be presented in several ways; it is usually offered as a sign-up incentive or a loyalty incentive to long-standing users. In addition, online sportsbooks will use this to stimulate betting pools to attract more customers with the goal of creating a more attractive betting environment for all users.
Consider the following as 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.
This type of bonus is usually awarded by online sportsbooks to new customers or to encourage loyalty or user participation at certain times. This bonus could also be viewed as 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, let’s 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.
The most common form of live betting on F1 today takes place using online sportsbooks like the examples discussed earlier. F1 live betting can take place in other settings like private betting clubs, wagers between friends, or sports bars and casinos. Live F1 betting in casinos and sports bars are rare and often not the preferred method amongst consumers as the maintenance of tracking bets and fairly measuring accurate results becomes more complicated, and 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.
The most popular method for F1 live betting is, as mentioned, the BetMGM online sportsbook. Here your bets and wagers are recorded 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.
There are a number of exciting sportsbooks with live streaming that will enable you to follow the action live as you bet on your favorite drivers. The following is a list of betting sites that up the ante and promise a fantastic F1 gambling experience.
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:
Although this race is not the most popular in terms of viewership, it is the first race of the season. There exists maximum opportunity for 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. In terms of an opportunity to place wagers, it’s a gambling paradise.
The Monaco Grand Prix has it all; prestige, viewership, and unpredictability. This race is undoubtedly the most prestigious event of the year, and the race 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.
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.
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.
Betting on F1 in the USA is legal in some states and illegal in others, depending on the laws and regulations set out. 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 that you would expect from a sportsbook (Parlay’s, Props, Live, Futures, etc.).
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.
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, and particularly for users depositing and withdrawing funds from online sportsbooks, eWallets offer an extra layer of protection and, ultimately, a hassle-free payment experience.
Some good examples of eWallets, and some of the more popular and trusted eWallets, are PayPal, Skrill, and Neteller. However, there do exist 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.
Traditional payment methods still exist when it comes to funding your online sportsbook account. However, with the addition of newer options, such as eWallets, traditional methods have become less and less used. Traditional payment methods would be funding your account via a physical cash deposit, submitting a written check, credit/debit card, or by electronic transfer.
The reason for 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 need to proceed through the same method as the original deposit. However, this can take considerably longer if done via a cash deposit or written check.
There exist a multitude of F1 betting guides online, and these are usually widely based on opinion and the winning strategies of individuals. However, there are a few F1 betting strategies that work across the board and should be considered. Therefore, here are 5 betting tips to consider when betting on F1 racing.
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.
All F1 racing tracks are different; they offer different advantages and disadvantages for drivers and particular teams. Therefore, it is wise to consider the history of drivers and teams at each circuit prior to placing your bets.
F1 racing victories lend themselves to a variety of variables coming together and performing. Most would consider this to be solely down to the skills of the drivers; 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.
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.
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.
Betting on F1 online has been made to be incredibly simple and easy to do by leading sportsbooks. Let’s consider the process of how to bet on F1 using the USA’s leading sportsbook, BetMGM.
The first step would be to create an account with BetMGM. This can be done using the BetMGM app or through BetMGM’s website. Access BetMGM’s services through your preferred method and select ‘Register.’ You will be asked to fill out a short form, accept the terms and conditions that BetMGM provides and create a password. You will also be asked to provide the last 4 digits of your SSN.
BetMGM will require you to either answer some questions or provide a copy of your ID for security purposes and to verify who you are.
You will now have access to the BetMGM site. Making your first deposit is quick and easy; simply click the ‘deposit’ button and then select your preferred deposit option.
Once you’ve deposited an amount into your BetMGM account, you will be able to place your first bets. So, navigate to the sport of your choice and start betting.
It’s incredibly easy to get anxious, confused and caught up in the many options that exist when considering opening an account with an online sportsbook and beginning your F1 betting journey. Always keep in mind to sign-up at reputed and widely used sportsbooks. We recommend using sportsbooks like BetMGM that are highly rated and popular among F1 bettors in the USA.
Consider the user experience of the sportsbook, too, you’re going to be spending a fair bit of time there, and it’s essential to use one that offers seamless gambling. Platforms like BetMGM, DraftKings, and FanDuel have the best user experience ratings among sportsbooks in the US. Lastly, consider the quality and availability of customer support as it’s a vital facet to ensuring an enjoyable only gambling experience.