Best Formula 1 Betting Sites 2024 – Top F1 Betting Sportsbooks

Formula 1 showcases some of the fastest cars on the planet and is one of the most exhilarating sports to watch. Formula 1 betting sites allow fans to up the excitement by placing wagers on the competition and winning real money.

Formula 1 betting online not only allows you to win money by correctly predicting the winner of a race but also offers various future and prop markets like which driver will retire first or who will end the season winning the Driver Championship. Here we cover everything you need to know about betting on the sport, including betting strategies, the best sportsbooks, the biggest bonuses, and more.

The Top F1 Sports Betting Sites For December 2024

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A Closer Look at Our Top 5 Formula 1 Betting Sites

To give you a better understanding of our favorite Formula 1 betting sites and help you decide on which is best for you we have supplied some reviews below, highlighting what we love about each site.

1. BetOnline – The Best Overall Formula 1 Betting Site

To find some of the best odds for Formula 1 online you have to look no further than BetOnline. This sports gambling site consistently supplies competitive odds on a wide range of F1 markets including live betting. Whether you are looking to wager on Formula 1 race winners, futures, or prop bets you will be hard-pressed to find better value.

As well as having a diverse selection of F1 bets readily available, BetOnline also has a special feature called “book my own bet”. With this feature you can email the team with an idea for a prop bet, if they like it they will create odds and make the bet available online. So, if you don’t see the Formula 1 bet you want you can request it.

2. Bovada – Wide Range of F1 Prop Bets

Bovada offers one of the biggest selections of F1 bets of all Formula 1 betting sites. As well as offering highly competitive odds on standard bets like race winner and podium finish, Bovada provides various other markets including head to heads, season specials such as drivers to win 1, 2+, 3+, etc. races and also how many thousandths of a second the winning time will be. In addition, live betting is outstanding on the site with a great interface, lots of markets, and competitive odds updated in real time.

The site also offers a healthy welcome bonus for new customers depositing with BTC which is worth up to $750 and this only has a 5x rollover, the lowest of all the best sportsbooks featured in our list. Once signed up, players can also take advantage of various Bovada promo codes and their superb VIP loyalty scheme which provides plenty of cash bonuses to players.

3. Everygame – Excellent live betting Interface

If you are new to Formula 1 betting online then you’ll be pleased to learn that you qualify for a generous welcome offer. This means you can get a piece of the action without risking your own cash. Additionally, there is a wide range of Everygame promo codes for existing players as well.

You can find many lines for betting on F1, including outright winner, podium finish, top 6, and top 10. You can also wager on the fastest qualifying driver, fastest lap, sprint winner, and more. In addition, Everygame has one of the best in-play betting interfaces with a multiview feature which allows you to keep track of multiple sporting events and the live odds so you can easily bet on the live action of F1 and other games at the same time.

4. MyBookie – Bet on Season F1 Head-to-Heads

This online sportsbook is a great platform to bet on Formula 1 due to its wide selection of betting lines. You can wager on various seasons and race head-to-heads, whether or not a driver will win a race at any point, Formula One qualifying, and even when a driver has sewn up a World Drivers Championship early like Max Verstappen in 2023 you can still wager on a winner w/o the leader, i.e. who will come second.

Mybookie promo codes also offers some additional perks and bonuses that make it a more than suitable option for Formula 1 betting online. This includes a generous welcome package, large reloads, a useful prop builder tool, and the option of early cashouts. To top it all off MyBookie has a free on-site blog that has the latest F1 news, analysis, and picks from experienced tipsters.

5. BetUS – Selection of Special Formula 1 Bets

BetUS has some of the widest variety of betting markets of all the Formula 1 betting sites. This includes a variety of prop bets like the fastest lap, pole position, and the first driver to retire. They also feature multiple special F1 bets like both teams’ drivers to finish in the top 10 and different variations of three drivers to make the top 6.

Live betting is superb on the site and it also has live streaming so you can watch the live action while betting on F1. All new bettors can lay claim to a BetUS promo code that offers one of the biggest welcome bonuses around when they first sign up, which is worth up to $2,500 and you also can claim huge reloads on any subsequent deposits you make.

The Latest Formula 1 Betting Odds Online

Have a look at the latest Formula 1 odds for the remaining Grand Prix events, Driver Championship, and Constructor Champion on offer from our top 5 online sports betting sites below.

United States Grand Prix 2023

The US Grand Prix takes place on October 22 on the Circuit of Americas in Austin, Texas. We have supplied the odds our top five Formula 1sportsbooks are offering for the outright race winner, but you can find a variety of other markets on the race on the sites themselves.

Drivers Championship 2023

Max Verstappen has already sewn up this year’s championship but some offshore sportsbooks are offering odds on the winner without Verstappen, so essentially the driver who will come second to the Belgian.

Constructors Championship 2023

Like with the Drivers Championship, the Constructors Championship has already been won by Red Bull but some betting sites are offering odds on who will win without Red Bull.

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How We Determine Which Sites Are the Best for F1 Bettors

We test out and pore over a plethora of information when trying to determine the best Formula 1 betting sites. There are many factors that are important to us and to bettors when selecting a sportsbook and we consider all of these in our ranking but there are some key areas that have more weighting in our reviews, which we have listed below.

Safety and Security

It’s essential that any site that has access to your personal information and or money is legit and has proper systems in place to protect this. Checking a sportsbook’s license and its security software is the first thing we do.

Formula 1 Markets

Obviously, if you are looking to bet on F1 then one of the key areas is what bets you can place. While most sites will have race winners and Driver/Constructor World Championship winners markets, we expect the top Formula 1 betting sites to offer a lot more variety such as top 10 finish, prop bets, head to heads and more.

Formula 1 Betting Odds

When gambling you are always going to win some and lose some, but the aim is to win more money over time than you lose, and the odds a sportsbook offers play a large part in whether you can succeed. No site will be the best for every bet all of the time but we look for sites that consistently offer market-leading odds for Formula 1.

Payment Options

The best sportsbooks to win real money should offer a diverse selection of banking options. These include credit cards, debit cards, crypto, e-wallets, and bank transfers.

The payout speeds and transaction limits are also taken into consideration and we look for sportsbooks with the fastest payouts. Additionally, we pay close attention to the banking fees each casino charges.

Bonuses

One of the perks of online sportsbooks that pay real money is that they offer a range of rewards and bonuses for both new and existing players. We rank sites based not only on the amount and value of their bonuses but also on wagering requirements and how viable it is to turn bonuses into real money.

Types of F1 Bets Available Online

The best sportsbooks offer a variety of F1 betting markets which allows bettors to utilize their knowledge of the sport to find good value bets and implement different betting strategies. We list the different bets on Formula 1 that our favorite sites offer below.

Race Winner

Wagering on the race winner is one of the most popular and straightforward F1 bets. With this bet, you are simply betting on which driver will win the race.

Podium Finish

Podium finish is another popular choice for those betting on F1. It’s very similar to race winner bets except your selection is a winner if the driver you back finishes first, second, or third. The odds are much shorter than race winner bets but it also significantly reduces your risk.

World Drivers’ Championship Betting

The World Drivers Championship is awarded to the best driver over a season based on points for each Grand Prix. You can place a bet on the World Drivers Championship at any point including before the season even begins. Bear in mind that the odds will change throughout the season based on the results of each race completed.

Top 6 Finish

This is fairly self-explanatory and if the driver you select finishes in any position between 1st and 6th your bet is a winner. This bet is great for placing drivers with long odds who don’t stand a good chance of winning but could break into the top 6.

Fastest Lap

This is a type of prop bet as the final result of the race plays no factor in whether this bet is a winner or not. With this F1 bet you are predicting which driver will record the fastest lap during the race. While the fastest lap is usually set by one of the drivers that finish in the top positions it can be won by any player, even one that finishes last or DNF.

Head-to-Head

In head-to-head F1 betting rather than predicting the winner of a race or what position a driver is, you are just betting on whether or not a driver will finish higher than another.

Prop Bets

There are a whole host of prop bets available on F1 and they can differ from site to site but some popular props include, how many thousandths of a second will the winning time be, the safety car period, the fastest pit stop and the first driver to retire.

Live Betting on Formula 1

Live betting on F1 is one of the most exciting ways to bet on the sport. While standard bets need to be placed before a race begins, live betting provides various markets while the drivers are already on the track.

Tips & Strategies for Betting on Formula 1

When betting on any sport, research is key and F1 is no different. Before placing any bet you should make use of Formula 1 sites and research a variety of information. We have included some of the key details and bet types to consider when deciding where to place your money.

Make use of the podium finish, top 6 and top 10 betting markets

In most F1 seasons there are not that many different individual race winners. For example, in 2022 there were only five people that won a Grand Prix and Max Verstappen won 15 of the 22. In 2021, 18 of the 22 races were won by either Verstappen or Lewis Hamilton.

As there is a clear favorite, or maybe two, for each race the odds on them tend to be very short, and unless you bet a huge amount you don’t stand to win much, and if they don’t win you lose a big chunk of cash. That’s why it’s very useful to make use of other bet types like podium finish, top 6, or top 10 as you can bet on drivers who have no real chance of winning a race.

Check a Driver’s Previous Results on Tracks

Track variation is one of the reasons F1 is one of the most exhilarating motorsports to watch. Tracks vary in length, number of corners, number of laps, and surface type.

A driver’s skill set is better suited to certain factors and tracks, for example, Sergio Perez has a total of 5 wins and 2 of these were on the Azerbaijan, Bakou circuit, in 2021 and 2023, and he finished 2nd there in 2022. Checking a driver’s previous results on a particular circuit or even a similar one provides valuable insight into their chances of success in upcoming events.

Check the Weather

Weather conditions can seriously impact how a race pans out for a few reasons. The first of which is how it will affect the track which in turn affects how teams assemble their car. A major one is rain as cars will need wet tires.

In addition, temperature will affect what tires are used as this will affect the level of grip. Temperature and cloud cover also impact the brakes, cooling, and power unit.

As well as impacting the track and car conditions will impact the driver and their strategy for the race. One of the things many people overlook in F1 is how physically straining it is on the drivers and much of this is due to the heat.

They wear multiple layers of thick clothing and the heat given off by the car is extremely high so if the air temperature is high as well it’s incredibly uncomfortable. In fact, studies have shown that drivers are more prone to accidents in high temperatures due to lapses in concentration caused by heat stress.

Why Bet on Formula 1 Online?

Formula 1 is a fascinating sport to watch. Cars reach speeds of well over 200mph and the cars have to navigate tricky corners and conditions of the tracks located in various locations across the globe.

It’s also a fantastic sport to bet on as there are so many variables and markets on offer. It’s true that in most seasons there are generally one to three drivers that win most Grand Prixs but there is a lot of unpredictability which presents some good value betting opportunities.

Types of Bonuses for F1 Bettors

A major advantage of betting online is the generous bonuses online sportsbooks offer. There  are various promotions for both new and existing gamblers looking to wager on F1. We run through some of the most common and popular bonuses below.

• Free Bets – Free bets are one of the top bonuses available at  F1 betting sites. The sportsbook will grant you a set amount of money to bet on a specific event or market. If the bet wins you receive the profit from the bet but not the original stake. If the bet loses then you haven’t lost any of your own money.
• Parlay Insurance – Parlays are a great way to bet on F1 as you can combine selections with relatively short odds and combine them into one bet thus increasing your odds. The risk is that if one of the bets fails you win nothing and lose your stake. However, many F1 betting sites offer parlay insurance which means that if one or more of your parlay selections fail the sportsbook will return your stake, usually in free bets or bonus cash.
• Enhanced Odds – Enhanced odds are where Formula 1 betting sites increase the odds of certain bets, for example, Max Verstappen may have odds of  -450 to win a race but a sportsbook may offer enhanced odds of -300. Enhanced odds are often offered to new players to entice them to sign up. There is also often a maximum amount that can be wagered using the enhanced odds.
• Deposit Matches – These are most commonly offered as welcome bonuses. They work by matching a certain percentage of your deposit amount. So, for example, BetOnline offers a 50% deposit match welcome bonus which means that if you deposit $200 you will receive a $1,00 bonus.

The Best Mobile Apps and Sites for F1 Betting

All of the Formula 1 betting sites that managed to make our top 10 offer a fantastic mobile betting site to go along with their excellent desktop site. You can perform all of the same functions and place all of the same bets whether you are on your computer or phone

Our favorite mobile site is Betonline. It doesn’t have a downloadable app but offers a mobile-optimized site that works perfectly on iOS and Android devices. Bovada is also another great choice, especially for live F1 betting as the interface looks superb on small screens and runs smoothly with no lagging and up-to-date odds during races.

How to Place a Bet on F1 Online

Signing up to and placing online Formula 1 bets is simple and to help you out we have provided a guide using BetOnline sportsbook as an example.

Step 1: Visit the Sportsbook

The first step is simple, you just need to visit your chosen sportsbook and click on the Join Now button usually located at the top of the screen on computers and the bottom of the screen if you are on a phone.

Step 2: Complete Registration

At this stage, you will be required to complete a registration form. Fill in the details it asks for such as name, email, phone number, etc. Then you will be asked to create a username and password.

Step 3: Make a Deposit

Next, select the banking method you would like to use and the amount you would like to deposit. Also, remember to select or enter your bonus code at this stage.

Step 4: Browse the F1 Betting Section and Place a Bet

Now you are ready to start betting on F1. Head over to the Motorsports betting section and select F1. Find the bet you want to place, click on it, and then enter the amount you would like to stake.

F1 History and Facts

The Fédération Internationale de l’Automobile is the governing body behind F1. While the FIA was founded in 1904 Formula 1 racing as we know it didn’t begin until 1950 when the first race was held at Silverstone. There were just 7 races in its inaugural season compared to the 20+ we see in modern seasons.

Below you can find some of the most interesting facts about the sport:

• Fact #1 – F1 cars accelerate from 0-60mph in roughly 2.6 seconds in modern cars compared to roughly 4 seconds when F1 started in the 1950s.
• Fact #2 – Valtteri Bottas holds the record for fastest-ever race speed which was  231.4mph at the Mexican Grand Prix in 2016.
• Fact #3 – The fastest-ever recorded time for a pit stop was in 2019 when Max Verstappens’s Red Bull crew completed the stop in just 1.82 seconds.
• Fact #4 – Max Verstappen holds the record for most consecutive Grand Prix wins which is ten wins in a row.
• Fact #5 – The British and Italian Grand Prix are the only races that have been used in every season since F1 began.

The Biggest F1 Races to Bet On

Formula 1 was established in 1950 and in that season, there were just seven races. Fast forward 73 years to 2023 and there were a record-breaking twenty-four races on the schedule (although one was called off due to weather). Every race is a huge event but there are some that are just a bit more special than others.

One of the most notable is the Monaco Grand Prix. While this F1 track is the shortest on the calendar, at just 3.3 km, it has some of the most iconic sectors including the shortest corner, the Fairmont hairpin, and one of the fastest in the flat out kink in the tunnel.

Other big events on the F1 calendar are the British and Italian Grand Prix which have been on the F1 calendar since its inception in 1950 and the Belgian Grand Prix known for its tricky weather conditions and tough corners. The Saudi Arabia Grand Prix may be a new addition to the schedule but it has cemented itself as the fastest circuit on the schedule.

Formula 1 Drivers to Bet On

In F1 there are 10 constructor teams each with two drivers for a total of 20 drivers. In most years there are 1-3 drivers that usually are ahead of the pack and below we take a look at the current three best drivers in F1.

1. Max Verstappen – In the 2023 season Max Verstappen and Red Bull have been completely smashing the competition. He has won 13 out of the 16 races so far this season and has pretty much sewn up the World Drivers Championship, which will be his third in a row.
2. Sergio Perez – Like Verstappen, Sergio Perez is a Red Bull driver. He has won two Grand Prix in 2023 and a total of 6 in his career. 
3. Lewis Hamilton – While Hamilton hasn’t won a single Grand Prix in 2023 he is still one of the best-ever drivers in the history of the sport and still getting plenty of podium finishes. He has won 7 World Drivers Championships, the most ever tied with Michael Schumacher and he stands at the top of total race wins with a truly impressive 103. 

Champions Who Left Their Mark on F1

There have been many exceptional drivers who have left their mark on the sport over the decades such as Michael Schumacher, Lewis Hamilton, Sebastian Vettel, and Arton Senna. In the table below, you can see the drivers and teams who have been successful in the last 10 years.

Which Online Sportsbook Has the Best Motorsport Coverage?

After reviewing multiple Formula 1 betting sites we can say that each site that has made our top 10 list provides a comprehensive and overall excellent gambling experience. You can’t go wrong with any of them.

Having said that, our favorite out of the lot is BetOnline. The combination of bonuses, competitive odds, live betting, and live streaming simply make it that cut above the rest, in our opinion.

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