Best F1 Betting Sites in the USA 2022

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.

The Best F1 Betting Sportsbook List

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?

  1. BetMGM – The Best Overall F1 Betting Site
  2. Borgata – Lucrative Racing Promotions
  3. FanDuel – Best Sign-up Bonuses
  4. DraftKings – Offers Fantasy Betting
  5. PointsBet –Sleek, Simple and Fast User-Interface
  6. Unibet – Comprehensive 24/7 Customer Support

Best F1 Betting Sites Reviewed

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.

1. BetMGM: The Best Overall F1 Betting Site

BetMGM F1 betting

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.

Pros:

  • Accessible in all US States where online gambling is legal
  • Great live-betting options
  • BetMGM accepts a variety of payment methods
  • Easy-to-navigate user interface

Cons:

  • Slower withdrawals

2. Borgata: Lucrative Racing Promotions

Borgata F1 Betting

The Borgata sportsbook is another online betting sportsbook with a credible heritage. The sportsbook is the direct product of Borgata Casinos, a well-known and trusted Casino brand in the USA. In terms of user experience, the sportsbook is very friendly, with an easy-to-navigate and standard layout. 

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.

Pros:

  • Great security systems licensed by the DGE
  • The interface is easy to use and understand
  • Riveting promotions offered
  • User-friendly website and app

Cons:

  • Currently available only in New Jersey and Pennsylvania

3. FanDuel: Best Sign-up Bonuses

FanDuel F1 betting

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.

Pros:

  • Beginner-friendly
  • Competitive live-streaming services
  • Access to great rewards and promotions
  • User-friendly website and app

Cons:

  • Known for poor customer service

4. DraftKings: Offers Fantasy Betting 

DraftKings 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. 

Pros:

  • Desktop and mobile apps function seamlessly.
  • Flawless live-betting service with quick-updating live odds
  • Easy deposit and withdrawal processes
  • Excellent 24/7 customer service

Cons:

  • Fewer odds boosts compared to other sportsbooks

5. PointsBet: Sleek, Simple, and Fast User-Interface

PointsBet F1 betting

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.

Pros:

  • Excellent customer support
  • Zero withdrawal and deposit fees
  • A variety of daily odds boosts
  • ‘Request your own bet’ service

Cons:

  • Lengthy withdrawal process

6. Unibet: Comprehensive 24/7 Customer Support

UniBet F1 Betting

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.

Pros:

  • Excellent customer support
  • Highly inviting user interface and experience
  • Dedicated live betting service
  • No deposit fees

Cons:

  • Lack of loyalty program for sportsbook users

FAQs

Take a look at some frequently asked questions and answers about F1 betting, which have been offered up by our experts!

Can you bet on F1?

Is F1 betting profitable?

How do F1 bets work?

How do I bet on F1 online?

Comparing the Best 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:

Sportsbook Sign-Up Bonus Bonus Code Sports to bet on Live Betting Live Streaming
BetMGM Risk-free bet, up to $1000 N/A 20+
Borgata N/A N/A 20+
FanDuel Risk Free First Bet up to $1000 N/A 20+
DraftKings 20% up to a maximum of $1,000 N/A 15+
Pointsbet Four $200 Second Chance Bets N/A 15+
Unibet Risk free bet up to $500 N/A 15+

F1 Betting Explained

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).

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 itself.

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 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.

No Deposit Bonuses

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. 

Free Bets

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.

DraftKings NJ $200 Free Bets Bonus

Live Betting with Formula 1 Sportsbooks

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. 

F1 Sportsbooks with Live Streaming

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. 

  1. BetMGM
  2. Borgata
  3. FanDuel
  4. DraftKings
  5. PointsBet
  6. Unibet

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 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.

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 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.

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.

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.). 

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. 

BetMGM ewallet payments TN

eWallet Betting 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, 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

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.

Tips for F1 Betting

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.

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.

Consider the race circuit

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.

Considering the racing team, and team dynamics

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.

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.

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.

How to Bet on F1 Online in the USA

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.

Step 1: Sign-up

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 Register

Step 2: Identify Verification

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.

Step 3: Deposit

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.

BetMGM Payment Methods

Step 4: Make Your First Bet

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.

BetMGM Sports Selection

Conclusion

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.