Best F1 Betting Sites 2023

Motorsports is quite a popular category in sports betting sites, so it is easy to get confused when trying to choose the best platform for F1 betting. We give you the tips on choosing the best formula 1 betting sites resting upon the most important factors.

We recommend only the trusted and legal betting sites, who provide decent F1 odds and markets for Formula 1 betting.

All of them hold the licenses issued by the legal sports betting committees and are safe places for keeping your deposits. The other criteria include attractive bonus offers, transparent T&Cs, and a strong reputation of many years, confirmed by the reviews on the betting process itself and the customer support.

TOP-3 F1 Betting Sites

Choosing the best betting site is half the battle: Formula 1 betting requires a lot of involvement so we give you tips on wagering. F1 punters dedicate much time to the weather and stats analysis, and the choice of bet types, too — not all of them can bring you a good profit even if they win.

What to consider when choosing a bookmaker

Each bettor has its own criteria that they stick to when choosing the best betting site. However, there is a range of factors that are vital for a good place for placing wagers. Among them are the following: the legitimacy of the website, the number of choices for deposits and withdrawals, the quality of lines, and the number of betting markets, including the ones for in-play betting, welcome and regular bonus offers. It is also important that a website was user-friendly and convenient in terms of finding all lines, terms and conditions, and other necessary sections. Finally, mobile betting is the most highly sought way of online gambling, so it is important for a site to be customized for mobile platforms.

The rating of a website according to the customer’s experience is also essential, so fair reviews should also be taken into account before you enroll in any platform.

Deposit and withdrawal options

If we compare the best betting sites for betting on F1, it becomes obvious that the most popular option for withdrawals and deposits are the Credit and Debit cards of Visa and Mastercard. The bookmakers fully legalized in a range of the states are usually have no more than a couple of additional options: for instance, the MGM Bet can offer you Borgata Cash deposits, bank transfers, and PayNearMe system that works in a 7 Eleven network for simple cash deposits.

Most of the licensed websites can accept prepaid cards; you will find such an option at William Hill sportsbook, BetRivers casino and betting site, and Unibet. The latter one, as well as another decent sportsbook called BetAmerica, offers a wider range of deposit methods including PayPal, and Skrill. If you keen on betting using Bitcoin and Bitcoin Cash, you can consider such legal platforms as Bovada unless your state allows cryptocurrency at all.

Most of the licensed American sportsbooks accept deposits from 10 USD and withdrawals from 20 USD; generally, the amounts can vary in a range from 10 to 25 USD.

License

Most likely you will not be punished for using illegal bookmakers. However, it will be for your own behoof to deal with the licensed website as the Sports Betting License Committees protect you from any fraudulent actions. As you keep your money on the deposits of gambling sites, the platform has to meet the requirements of online safety which are checked by the gambling commissions before a license issuance. Trusted sportsbooks like MGM, BetVictor, William Hill, Unibet, Bet365 give the links to their grantors of a license. Following these links, you can check if the licenses are valid and active.

Reputation

New websites can offer much in terms of modern technologies but are always safer to use the ones who developed a high level of reputation among the gamblers. We have collected all the fair reviews left by the members of different sportsbooks, so you can get acquainted with them to make sure the chosen betting sites have a strong reputation that lasted for at least several years and no crucial violation of the customers’ rights was ever fixed.

User interface

A user-friendly interface is not only important for the new customers who are not quite acquainted with the different functions of a standard betting site but also attracts people to make new deposits over again. It is important for a betting site to be convenient, at least because you have to clearly see the markets and the bets you make. When an interface is too overloaded or complicated it is easier to make a crucial costly mistake. A good example of a plain and user-friendly sports betting platform is the BetAmerica sportsbook, Unibet, and BetOnline. You can easily control your bet slip, and switch between markets; in addition, they are mobile-friendly and have dedicated iOS and Android apps.

Bonuses and promo

There are different types of bonuses sportsbooks offer to account holders and newcomers. Basically, there are the following bonus types:

• First deposit bonuses. They are given to almost all new members, with some country restrictions that can also be applied. Usually, they come as a match to the first deposit made on a new account. However, you will most likely bet a certain amount of real money to withdraw the bonus funds. Not all betting markets are qualifying for this bonus;
• Free bets: the amount of money given to a punter to make a wager without using their own money;
• Boosted Odds. Given regularly to all customers and allow anyone to have a bigger payout when the certain odds become better in case this bet wins. You should be aware of all conditions of such offers as the total outcome can be actually unprofitable;
• Contests. For an entry fee or free of charge, you can participate in contests with quite a big money prize pools with the other bettors;
• Cashbacks. Regular members can pretend for such bonuses as free bets and refunds of the lost bets.

Live-Betting

Live betting is the most popular way people choose for betting on F1 and actually all the other sports types. Usually, it becomes more profitable than pre-match wagers, because the in-play format allows you to make factor in current weather conditions, the physical state of drivers, and all the actual events happening within the contest before you make a wager on a certain outcome.

Thus, it is important for a betting website to have decent live betting lines.

BetAmerica has managed to realize this function probably the best way; the live schedule is also busy and competitive at BetMGM. Bet365 has made its main focus on in-play betting, so it is also worth trying.

Customer service and Support

Every issue you face with your deposit bonus, account, or wager is solved out by customer support. If the service is quick and helpful it gives multiple rating points to a sportsbook immediately. The most common ways of contacting a bookie are the phone number, email, and a Live Chat. The latter option is the most modern one and turned out to be the most convenient for those who do not have access to a toll-free phone line or can not wait till the email is replied to.

F1 Betting Markets

There are different types of F1 bets. They all can be divided into three major groups: season bets, qualification bets, and race outcome bets. When you bet on the season outcome, you simply guess who will be the winner of the Championship and World Constructors’ Championship which is a team prize. A punter has a much wider choice in each betting category than just placing a wager on the exact team or race driver. However, there are some options to choose from in this F1 betting type, too: you can bet on a certain race winner or the whole qualification round.

More experienced punters choose more exquisite betting: for instance, they try to guess the first three race drivers or teams. It is also possible to wager on a certain race driver: for instance, you can try to predict who will be the fastest one. Such F1 betting is much more exciting in a live format. F1 crews gain points within the course of the Formula  1 series, so there is also available betting on the finishing drivers who gained the points being in the top-eight.

Let's review the most popular bets in detail

Tips on F1 betting

Formula 1 betting is one of the most complicated sports for wagering. It is so because the outcome of the race depends on multiple factors, not always connected with the actual driving skills of participants. It is vital to take into account the whole range of these factors as the result of the race can crucially change in a fraction of a second, so literally, anything can make an impact on the final outcome. The factors include the mental and physical state of all drivers as well as mechanics, chosen tactics of a certain team, the wear-out rate of the formula cars, point penalties, and the weather conditions.

There are also factors that remain unpredictable till the very last moment.

This is why it is recommended not to opt for the lowest F1 betting odds, finding a balance between the odds given by sports betting sites and real chances of a certain outcome. Let’s take a deeper look into motor racing betting and what do you have to keep in mind to be successful.

Check the statistics

Before you choose a team or a driver to bet on F1, don’t neglect to make your own analysis of their stats. Even if you think that the series favorite like Lewis Hamilton or Sebastian Vettel wins, it is still essential to see how they performed in the previous season and what were their results in qualification trial races. The Formula 1 is the World Championship which is considered the most unpredictable in terms of winners and outsiders, so be careful.

Weather forecasts

Weather conditions make Formula 1 betting extremely unpredictable, but there are still things you can be prepared for. If the forecasts show the rainy weather during the whole course of the race, it does not necessarily mean that you should not bet. On the contrary, rain can give more opportunities to certain drivers who can work even more smoothly during precipitation in any form. For instance, Sebastian Vetter drivers perfectly on the rainy tracks, so after checking the weather forecasts you should get back to the statistics and see how every certain driver performed in different conditions. You should also mind the technical characteristics of the vehicles: for instance, Mercedes’ wheels warm up quicker which can give their team a serious advantage in case the temperatures are low. In addition, bad weather can make mechanics change tires more often, so the outcome will also depend on their efficiency.

Check out the odds

Sports betting sites have their own data analysis centers that constantly monitor every slight chance happening within the teams. A punter’s main focus is to win over a bookie and analyze the odds they give comparing them with the final value and the net profit of the bet. It makes sense to compare at least a couple of sports betting platforms to decide which is fairer in terms of odds.

Use the Live-betting feature

Live betting function is not only more fun. Betting on F1, or actually, any other motor racing or team and single sport gives you more opportunities to end up with a good amount of money from a wager. Live markets allow you to make your predictions right during the action, so you already see what is the weather like, which tactics are used by every team, and probably even the condition of each car.

For instance, you see that one of the favorites made a pit stop and you suppose it was not the best time for it. Thus, this information, which you can not get during pre-match betting under no circumstance, will help you to make the right decision and bet on another race participant whose pit stops are more reasonable in your opinion.

Use the characteristics of a racetrack

Formula One races take place in twenty-two countries so the race tracks significantly differ from each other. It depends on the driving skills but doesn’t also forget the car engines and tires that have limited abilities, too. Weather conditions can also turn quite a convenient track into a disaster for some drivers, so bear them in mind, too.

Some tracks can help drivers win the race quite unexpectedly.

For instance, in 2017, in the Baku track, a Finnish driver Valtteri Bottas has managed to overcome Lance Stroll on the very last meters of the track, so you have to know which tracks can bring you such surprises before determining a betting strategy.

Formula 1 – History and Facts

Formula 1 is the annual World Championship on race cars with open wheels which take place on special closed tracks. Its origins come from 1920-1930th, when the motor racing teams that took part in different racing Grand Prix, accepted regulations for the first world Championship on racing. It was supposed to start in 1941 but was canceled due to the WWII started. After the war, the International Automobile Federation (FIA) has released the final version of the regulations for the Grand Prix. The first race took part in Silverston in 1950 and resulted in the winning of the Alfa Romeo driver Guiseppe Farina.

Since 1950, Formula One has developed more technically powerful and safe cars, which also made a huge impact on the car industry in total; tracks were also reconsidered in terms of race coverage and geography. Today Formula One is the most prestigious and expensive racing series in the world.

Season structure

Any Formula One season consists of a range of Grand Prix races; each year, the number of races is always different. The maximum races — twenty-one — were in the Formula One season 2016. It is also called Grand Prix weekend as it takes place from Friday till Sunday, with Monaco as the only exception, when free practice is always organized on Thursdays. Each Grand Prix weekend consists of two free practice races on Friday and one on Saturday. After the last free practice comes a qualifying race. The results of qualifying sessions make it possible to define pole positions of the final Sunday race. The first three finishers of the Sunday race become the champions. The scores that drivers gain during the race add up to their single and team classifications. At the end of the season, the titles of the World Champion and the World Constructor Cup are determined.

Terms and rules

According to the basic rules of Formula One, each team creates the chassis for their race car. The engines can be purchased from an outsourced manufacturer; all cars have to be prepared in accordance with the technical regulations of FIA.

Formula One car is a monocoque no wider than 200 cm with four open wheels; the back wheels are the traction wheels. The driver is located in a cabin in the front part of the car and can use the steering when, and go and brake pedals. There are also some add-ons that can be used according to the FIA regulations: the main feature of Formula 1 is the most effective speed up system, aerodynamics, and brake system. Such upgrades allow Formula 1 cars to enter the curves at the highest speed smoothly even though it is not actually the fastest motor racing series. In 2009 FIA accepted using the DRS — all movable splashes, that can be activated on certain parts of the track.

Since 2011, tires for Formula 1 are provided by Pirelli; their quality means a lot for the races, as there have to be three types of tires that fit different weather, track types and coincide with the overall race car characteristics. The key features of Formula 1 tires are high durability, light weight, and road adhesion.

Formula 1 Hall of Fame

The first Formula 1 ended with the winning of Nino Farina, the Alfa Romeo driver. Since then, this series has brought many more unique talented drivers.

The most famous of them is Michael Schumacher, who became a household name and there is barely a person who has not ever heard of him. He was a symbol of Formula 1 at the beginning of the 2000s and became the first driver who influenced the construction of race cars; the whole industry worked actually for him to create vehicles fitting him personally.

Another champion who was great even before Formula 1 became a large business was Juan Manuel Fangio. He almost won in the Formula 1 debuted in 1950, and compensated for this loss in the next 10 years of participation in the series. He beat several records and won 46,2 percent of the Grand Prix he competed in. He was on top when there were no ultimate safety rules so no wonder he is still the hero of the Formula.

Among the young champions,  the representatives of the new Formula 1 era, we can single out Lewis Hamilton.

He was a part of the McClaren racing program since 12 years old and has already gained much success. However, some believe that it was mostly due to the amount of money and the quality of the car he drives; the same was often said about Michael Schumacher and Sebastian Vettel. However, even the best car requires the talent of the pilot. For instance, Vettel became the youngest world champion of the F1, which is hardly possible without skills and dedication.

Conclusion

Formula 1 betting is complicated for the newcomers but can become a gold mine for experienced punters who are aware of how to analyze statistics of the drivers and teams, weather forecasts, and know the abilities of each driver and how they work upon various conditions. Bets start from the simplest ones like the Race Winner or the Podium winner to more complicated, for instance, match-ups.

Your success will also depend on the track type and the overall condition of a driver. However, you can make it even more valuable if you select a bookmaker who gives you a range of free bets, and other bonuses and promo codes that will help you to save your bankroll. The sportsbook right choice and a thorough homework before F1 betting can make your gambling activity fun and valuable at the same time.

Last updated on 27 Jan 2023- 05:55