Last updated on: March 14th, 2022
Betting On Formula 1 Racing
Those who love the thrill of Formula 1 racing may be interested in the thrill of betting on Formula 1. There are different drivers that you can bet on like Lewis Hamilton who is arguably at the top of the game today, Valtteri Bottas and Carlos Sainz. You can also bet on the different Formula 1 races as well like Melbourne Grand Prix Circuit, Circuit Of The Americas or the Circuit de Monaco. Odds for all of these major races are available at online sportsbooks and are available well before the events even take place.
As you continue down this guide, you will come across the different aspects of Formula 1 betting. You will find out if it is legal to bet on and also where you can find those legal sports betting odds. You will find out all of the different types of bets that you can make on Formula 1 as well and also get an understanding of them. There will also be some current Formula 1 odds as well as how to deposit and withdraw money from your online sportsbook account.
Is It Legal To Bet On Formula 1?
Betting on Formula 1 in 2022 is 100% legal to do and is not unlawful in any way, shape or form. As long as there are odds for it posted on online sportsbooks, you have all the power you need to make your Formula 1 bet. You can place those bets on any online sportsbook as they have plenty of options to choose from. You should not worry if your home state does not regulate sports betting either as online sportsbooks are legal all throughout the United States and will not land you in any trouble at all.
Current Formula 1 Betting Odds
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What Bets Can You Make On Formula 1
There are a few options for wagering on Formula 1. For starters, the main wager would be selecting a racer to come in first. There are also odds for players to big racers to come in the top 3, top 5, and top 10. Exacta wagers are available, as well as head to heads wh ere bettors pick one racer to outplay another. There are futures odds for bettors, as well as live in-race wagering. Formula 1 has a seemingly endless supply of odds available at online sportsbooks.
Betting On Formula 1 Over/Under bets
If you are betting on Formula 1 over/unders, you will find that there are different odds that you can place your bet on. You can bet on the over/under of the projected times on either a specific driver or eve the projected time of the race as a whole. If you were to bet on the projected time of a the race, for example, you would find an over/under with a time and odds for if the race will go over the time or stay under. Online sportsbooks could have a projected time of 1 hour and 35.5 minutes with the over favored at -200 and the over at +150. That would mean that the race is favored to go over the 1 hour and 35.5-minute mark.
Betting On Formula 1 Prop Bets
A prop bet on a Formula 1 race could deal with anything from the race itself to something that involves the race but does not involve the actual racing. One prop bet that you might come across on online sportsbooks could be how much time fast the fastest lap takes. For example, if you were to bet on the fastest lap time and there was an over/under of 1-minute ad 30.5 seconds with the under favored at -115 and the over at +100. This would mean that the fastest lap is favored to stay under 1 minute and 30.5 seconds. If you were to bet on the under the fastest lap would have to be 1-minute ad 30 seconds or less.
Betting On Formula 1 Futures Bets
Taking a futures bet on a Formula 1 race is just like making a futures bet on any other sport. You are betting on something to happen in advance way before it happens. When you make a futures bet you can take advantage of further odds as those odds are further than normal odds. Odds for futures bets are further since the events that they are posted for are far ahead in time. An example of a Formula 1 futures bet would be placing a bet on the Monaco Grand Prix before it even happens.
How To Make Money From Formula 1 Betting
If you are new to betting on Formula 1, to get started, you need to create an online sportsbook account and deposit money into it. Since you are signing up for an online sportsbook, you have different options of depositing money, unlike a retail sportsbook. Here you can use your credit or debit card and even a money order to deposit funds. You may also use cryptocurrency like bitcoin. You will notice that some of these sportsbooks offer promotions for using different types of sportsbook deposit methods.
If you are trying to withdraw your funds, you have other options as well depending on your deposit method. If you used your bank debit card, credit card or money order, you can either wait for a check in the mail or have your money sent to you via a wire transfer. If you used bitcoin or any other cryptocurrency, that money can go back to your bitcoin wallet.