Best Betting Sites For Formula 1

Every year, there are only 20 or so different Formula 1 races to bet on. It’s slim pickings — especially compared to the long seasons of MLB or NBA, for instance. That’s why when there is a Grand Prix, you really got to make it count and bet at a top-tier site for F1. We’ve made that easy for you by listing the “best of the best.” Think of these listed sportsbooks as being in the class of Sir Lewis Hamilton. Let’s count ’em down:

Bovada Is Best Overall Betting Experience

Trust us, it’s not easy to select a single sportsbook as the “best.” This industry is filled with sites — and new ones pop up by the week it seems like. However, there’s one platform that constantly sets the pace for the whole industry, and that’s Bovada. Or to borrow an F1 term, it’s consistently in P1. bovada formula 1 betting odds The first thing bettors need to know about Bovada is that it’s the most-used offshore sportsbook in the United States for a reason. It’s trustworthy, it’s reliable, and it just flat-out works like it’s supposed to. Maybe it doesn’t have the flashiest of looks, but it doesn’t need to. It’s so simple that a complete novice can pick things up rather quickly on the site. Now in the context of Formula 1, you’ll find an extensive list of bets revolving around the sport. Every F1 race will be available for wagering on-site and not just the simple moneyline race-winner bet either. No, the real fun is in the prop market (e.g. who has the fastest lap or who wins qualifying) and Bovada doesn’t skimp out on bettors there. By calling Bovada the “best” bookie for F1, we’re essentially saying you don’t need to use another book whilst the season is ongoing. Everything you need — a large amount of F1 bets, good prices, bonuses, trust factor — is already on-hand. Why MyTopSportsbooks loves Bovada:

  • Large sports betting menu
  • No-frills and straightforward experience
  • Long-standing reputation in the industry
50% up to $250
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BetOnline’s F1 Betting Lines Are Tough To Outpace

Betting lines are extremely important when selecting a bookmaker. Not only do you want a sportsbook that offers a ton of variety to choose from, but perhaps more importantly, you also want a bookie that prices its betting lines fairly. It may not seem like it, but even getting -5 worse odds hurts the wallet — especially in the long run. When it comes to maximizing value on betting lines, BetOnline should be your top choice. betonline formula one betting odds We often “price shop” before placing bets. So say we want to pick Max Verstappen to win the next race, we’d go from sportsbook to sportsbook to see which one is offering the Red Bull driver at the longest odds. BetOnline is consistently the winner when doing so — not every time, but more often than not for sure. That makes BetOnline a perfect platform option during the lengthy F1 season. Why MyTopSportsbooks loves BetOnline:

  • Extremely fair-priced odds
  • Variety of bonus offers
  • Supports a variety of payment methods
50% up to $1,000
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Cash Out Big With MyBookie Bonuses

Who doesn’t like free play? Welp, how does $1000 in free play right off the bat, sound? It’s true, it’s true — and it’s available at MyBookie right now. The site matches the first-time deposit of new players at 100 percent, therefore, to maximize the deal, you’d need to insert a $1000 too. That number is to max the deal, you’ll get a dollar-for-dollar match with any account funding amount, whether it’s $75 or $565, for example. mybookie formula 1 betting odds Let’s face it, times are tough across the economy. Inflation is red-hot, gas prices are surging, and so forth. So getting a cool grand — free of cost — is no small thing. Just make sure you redeem this deal whilst the F1 season is raging on because there is an expiration date on the bonus earnings (30 days). Once the free play is in your account, you can spend as you wish — not just on motor racing, but any other sport carried at MyBookie, which is a lot. Why MyTopSportsbooks loves MyBookie:

  • Big-money bonuses
  • Betting menu covering all sports
  • Several banking options
50% up to $1,000
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XBet Offers Most F1 Props Around

We alluded to this before, but it bears repeating: props is where you’re going to get the most “bang for your buck” in F1 gambling. Let’s face it, the same names trade wins during a season — Hamilton, Verstappen, Charles Leclerc come to mind. So betting on the straight-up winner is rarely where the most betting value exists. In fact, it’s sometimes the opposite. Real betting value is instead found in props.

XBet is renowned for its live betting options, which are accessible through the mobile apps for Android and iOS. Much like in the NFL and NHL, F1 odds provide live betting markets, allowing players to take specific bets on their favorite drivers as they race. Whether it be Lando Norris or Esteban Ocon, you can add these players to your bet slip at any time. XBet also offers a range of parlays and chance bet markets that can really breathe life into your multibet. Podium finish wagers are still the most popular F1 bet type, but there are also a range of great bonus bets available from this provider. 
xbet formula one betting odd This is what makes XBet so notable. In our experience, few sites outdo XBet when it comes to the volume of different props offered on Formula 1. We would list them, but honestly, there is way too many to possibly account for (and seems to change race to race). Your “best bet” is to visit Xbet before a race and see the variety of options available for yourself! Why MyTopSportsbooks loves XBet:

  • Huge prop market on-site
  • Slick-looking design and feel
  • New sportsbook gaining popularity fast
50% up to $500
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Are you looking for sportsbooks like BetMGM, FanDuel or DraftKings? Or maybe you are looking for Caesars Sportsbook, PointsBet or Fox Bet? That would be totally understandable given the sheer volume of advertising on TV. But, and yes, there is a but: those brands are not available in the biggest US states like Texas, California and Florida. What to do? Don’t panic. The list of brands above includes brands that are available in all big US states. We have tested them all and have accounts with them. Read reviews and find your new favorite sportsbook today!

How to Bet on Formula 1

Getting started on Formula 1 betting is not as complicated as you might think. Here you will find everything you need to become an expert F1 bettor. Much of this is reviewing the basics of betting and betting strategies, but with a focus on F1 sports betting. Plus, it is important to think about how Formula 1 odds work. To do this you can check out the types of Formula 1 bets that we lay out below.

Formula 1 Betting Strategies, Tips, and Advice

In order to place the best F1 bets, you will need to develop your strategy. These range from how to make the best F1 bets, to managing your finances.

Develop a specific F1 betting strategy

It is highly recommended that you develop a betting strategy specific to your Formula 1 betting. It is just a different beast. Placing a bet on a car race is just fundamentally different than a football game. You should understand this sport in itself to make the best choices here. Formula One Betting Guide Image

Part of your overall strategy

That being said, it is also important that your F1 betting fits into your overall betting strategy. They should complement each other. If you are only making safe bets in the other sports, then this pattern should continue when you bet on car races. Your Formula 1 betting strategy can be both specific and part of your overall strategy.

Employ bankroll management

Whether you are using the unit-based or percentage approach, your car race bets should also benefit from this measured approach. Keeping things equal will allow you to easily measure the efficacy of the other parts of your strategy.

Research carefully

Also, be sure to research carefully. It is not enough to rely on the odds you find on Formula 1 odds tables. Rather, you should do enough research to be in conversation with the odds. Ask yourself why the odds are what they are, and if you think they reflect your interpretation of upcoming events. This is how you can find high-value bets. Research doesn’t end with value in the odds. Tracking drivers’ standings and understanding how drivers are performing race-by-race will give you a good indication of how the season may unfold. Take, for example, seven-time world champion Lewis Hamilton, who lost out last year to the reigning champion Max Verstappen, he was geared up to win the title, but Max’s persistence he’d shown throughout the season and ended up gifting him the title. Take a look at the racetrack, who’s in pole position and how that has served them on this historically. How are drivers’ teammates performing? Who has won the big races like the British Grand Prix, Monaco, and the Italian GP? Which players have consistently been in the top five on the leaderboard throughout the season? All of these factors, and more, should weigh in when you’re doing your research!

Only Use Trusted F1 Betting Sites

With so many F1 betting sites out there, it can be difficult to ensure you are using the right one. We have laid these top, trusted Formula 1 betting sites. They are safe and include great bonuses. But, which online sportsbook you choose for Formula one betting markets is entirely down to you and your personal preferences. Trusted F1 sites will provide odds to see who will raise the checkered flag for each race; whether that be veterans like Brit superstar Lewis Hamilton or his German rival Sebastian Vettel, or the younger generation of drivers such as Sergio Perez, Carlos Sainz, or George Russell.

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Formula 1 Bet Types

You will have many choices when you want to make Formula 1 bets. When you want to bet on car races, you will have plenty of options—not just the drivers’ championship but also a popular market is the constructors’ championship to see whether Mercedes, Red Bull, Scuderia Ferrari, or any of the other top teams have performed best in maintaining and developing the car. The most important will be understanding how Formula 1 odds work for each bet type. Once you have the basics down between what exactly you are betting on for each, you will have many fun choices for Formula 1 betting. Let’s go through some of the most common Formula 1 bet types to get you ready to have a great time at your Formula 1 betting sites.

Upcoming 2024 Formula 1 Races

Here’s a list of 2024 Formula 1 races you can bet on:

Date Race City
5 March Bahrain GP Sakhir
19 March Saudi Arabian GP Jeddah
2 April Australian GP Melbourne
30 April Azerbaijan GP Baku
7 May Miami GP Miami
21 May Emilia Romagna GP Imola
28 May Monaco GP Monaco
4 June Spanish GP Barcelona
18 June Canadian GP Montreal
2 July Austrian GP Red Bull Ring
9 July British GP Silverstone
23 July Hungarian GP Hungaroring
30 July Belgium GP Spa-Francorchamps
27 August Dutch GP Zandvoort
3 September Italian GP Monza
17 September Singapore GP Singapore
24 September Japanese GP Suzuka
8 October Qatar GP Lusail
22 October United States GP COTA
29 October Mexican GP Mexico City
5 November Brazilian GP Interlagos
18 November Las Vegas GP Las Vegas
26 November Abu Dhabi GP Yas Marina

Best Formula 1 Betting, May 2024

  • Max Verstappen is a heavy -1600 favorite to win the 2024 F1 Drivers Championship with BetUS.
  • Verstappen also has leading -470 odds to take the Emilia-Romagna Grand Prix with Bovada.
  • Sergio Perez holds the second-best title odds at +3600 at MyBookie.
  • Charles Leclerc and Carlos Sainz have +7000 odds to win the championship at BetOnline.
  • Lando Norris (+850), Leclerc (+1400) and Perez (+1600) are Verstappen’s top challengers in Japan with Bovada.
  • Red Bulls is the -2400 favorite to win the Constructors Championship for the 2024 season at BetUS.

Formula 1 Betting FAQ

Find answers to common questions bettors like you have when researching which sportsbook to join.

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Luke Chadwick

Luke Chadwik is an experience writer with a focus on European football, but has always had a keen passion for sport and follows all major leagues across the world. When Luke isn't writing about sports, he's focused on his passion for road biking or spending time with his twin daughters.