Last updated on: May 1st, 2023

Betting On Formula 1 Racing

Formula 1 betting is quickly becoming one of the most popular sports to bet on and there are plenty of odds that you can take advantage of with it. As for how to find odds on it, there are plenty of legal sports betting sites that offer odds on it all year round. The legal online betting sites that have F1 betting odds have more to offer than just those odds. You’ll find some major promotions, an easy to use platform, and different financial methods that you can bet with. To find out more about online betting odds for F1, we’ll cover all you need to know right here.

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Top Formula 1 Betting Sites

Rank	Bonus Offer	Play Now
1	75% Up To $750 Read Review	Visit Bovada!
2	50% New Member Bonus!Read Review	Visit BetOnline!
3	50% Up To $1,000 Read Review	Visit MyBookie!
4	100% Up To $300Read Review	Visit Xbet!
5	50% Up To $1,000 Read Review	Visit SportsBetting!

Bovada Sportsbook

The Top F1 Betting Site

Bovada is one of the most trusted and most established Formula 1 betting sites that you could ask for. That is thanks to all of the features and betting odds that they have. On F1 specifically, you not only can bet on the outright winner of a race but bet on all of the prop odds that come along with them. Bovada also does a great job with their bonuses. New users that are just signing up could earn up to $250 for signing up and creating an account.

Rating:

Bet F1 Specials
Racing Props
Live Race Odds
50+ Bets Per Game
MLB H2H Comparison

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BetOnline Sportsbook

Bet On F1 With Crypto

If there is one sport that is more advanced in the crypto world, it is F1 and BetOnline knows this by letting you bet on all F1 races with it. You can choose from up to 17 different forms of cryptocurrency to bet with ranging from massive projects in Bitcoin and Ethereum down to smaller altcoins like Shiba Inu or Dogecoin. They also run crypto betting bonuses worth up to $1,000. You can also directly link your crypto wallet right to your sportsbook account and transfer funds within seconds.

Rating:

Reliable Banking Methods
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10+ Year Track Record
Huge Assortment Of Odds
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MyBookie Sportsbook

Safest F1 Betting Site

If you are looking for a safe and reliable legal sports betting site to bet on Formula 1 odds, MyBookie should be your go to. They have two encrypted links on the backend that work to secure both your personal and financial information. Those include SSL and Bit-256. On top of their encryption, they also have elite customer 24/7 customer service that work to be there for you in the event of any issue at any time of the day.

Ratings:

Huge Player Bonuses
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Legal In Hawaii

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Is It Legal To Bet On Formula 1?

USA Players Allowed Betting on Formula 1 in 2023 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

2023 F1 Championship Odds
Max Verstappen -140
Lewis Hamilton +300
Charles Leclerc +500
George Russell +800
Carlos Sainz +2500
Sergio Perez +2500
Lando Norris +12500
Fernando Alonso +15000
Esteban Ocon +25000
Pierre Gasly +50000
Kevin Magnussen +100000
Lance Stroll +100000

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.

How To Make Money From Formula 1 Betting

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.

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.