Betting on a popular motorsport like Formula 1 (F1) can be done in three ways, betting in person at a bookie shop, online through an online gambling site or on the phone by calling the bookmaker to place the bet.
To bet on Formula 1:
- Sign Up To An F1 Bookmaker
- Choose An F1 Grand Prix Race Weekend Or F1 Betting Market
- Choose An F1 Betting Strategy
- Place Bet On Bookmakers Site Or App
- Wait For Payout If You Win
The high octane thrill of an F1 race can be even more exciting for any F1 bettor that’s betting on the outcome.
Sign Up To An F1 Bookmaker
To get started betting on Formula 1, you’ll need to find the right motorsport bookies to take the bets.
Choosing the right bookies will depend on the country you live in.
Find F1 betting sites in your country and sign up with them. To sign up with a bookmaker, you must provide:
- Contact Information (phone number & email)
- Payment Information
- Utility Bill
- Government I.D. (Passport or License)
Typically, signing up with a bookmaker can take between 1 – 3 days in total.
Some popular, safe and licensed bookmakers for F1 gambling are:
- Betfair: Betfair has a great exchange where punters and bettors can bet against each other rather than the bookie. Their Formula one odds are great.
- Bet365: This bookmaker is one of the largest and most popular in the world. It is also available in multiple countries in Europe and certain states in America where betting is legal.
- Betway: This sportsbook has a wide variety of Formula 1 betting markets offered with great odds.
Signup to a bookmaker with great Formula 1 betting odds, a large number of F1 betting markets offered and a solid welcome bonus. Provide name, government identification and a money deposit to get started with betting.
Choose An F1 Grand Prix Race Event Or Market To Bet On
After signing up to a bookmaker, then choose a Formula 1 Grand Prix event or F1 betting market to bet on.
There are 23 F1 Grand Prix races in a year from around the world.
The Formula 1 betting markets available for F1 bettors to bet on include:
- F1 Drivers Betting: Bet on an individual F1 driver and their finishing position in a race or outright world championship.
- F1 Constructors Betting: Bet on the finishing position of a Formula 1 team in a race or the overall championship.
- F1 Qualifying Betting: Bet on the qualifying position of an F1 team or driver in a grand prix race weekend.
- F1 Grand Prix Race Betting: For F1 Grand Prix race betting, bet on the outcome of a race, the race winner, the podium finish, the winning margin in the race etc.
- F1 Podium Betting: Bet on the racing drivers you think will finish on the podium, which is the top 3 finishers.
- F1 Fastest Lap Betting: Bet on which team or driver sets the fastest lap during the race.
- F1 Classification Betting: Bet on how many cars will be classified at the end of the race.
- F1 World Championship Betting: Bet on who will win the world championship in a given year.
- F1 Practice Betting: Bet on the outcome of the Formula 1 practice sessions that happen on the Friday and Saturday morning before qualifying.
- F1 Safety Car Betting: Bet on whether or not there will be a safety car period in the race.
- F1 Specials Betting: Otherwise known as prop bets, for every race event, there is a specials market with unique bets for that race event. An example of an F1 specials bet would be betting on what driver you think will be the first to retire from the race.
Typically, a bookmaker will have these F1 betting markets of an event available a week before the event is due to take place.
Here’s an example of how F1 betting will look on a betting site a week before an F1 event.
Choose an F1 grand prix race event or outright championship to bet on. Typically, the betting markets for a Formula 1 race event on the calendar are available on the betting site a week before the event is due to take place.
Choose A Betting Strategy
After signing up to a bookmaker with Formula 1 betting availability, you’ll need a betting strategy.
A betting strategy is simply a set of rules or a method that governs how you bet on the different F1 events.
A betting strategy will help give a bettor the best chance of winning.
Different F1 betting strategies include:
- F1 Dutching: Dutch betting an F1 race winner is simply betting on more than one driver to win the grand prix. This will only work if the odds are high enough to do so. An example of dutching in F1 would be betting on both Max Verstappen and Mick Schumacher to win the race.
- Lay The Pole Position Driver: Another betting strategy F1 bettors sometimes use is laying the pole position driver. This is simply betting against the driver that qualifies on pole to go on and win the race.
- In play live bet scalping: Some bookies will offer in race live betting. This means bettors can scalp the odds. Scalping is essentially getting into and out of bets really fast and making small profits.
An F1 betting strategy is a method or set of rules that govern how you bet on Formula 1. Example betting strategies include dutching or laying the pole position driver.
Place A Bet On The Betting Site Or App
Once you’ve signed up with a bookmaker, have an idea of the betting market you wish to bet in and deposited money to a betting account, you’re ready to make a bet on F1.
Betting online through the betting site or app is the easiest way to do this. For a first bet, it’s best to bet small.
Placing a small bet will familiarize yourself with the betting site software and ensure you only lose small should you make an execution error when placing the bet.
After signing up to a bookmaker and depositing money, place a bet on the F1 betting market of choice. When starting out, bet small when learning.
Wait For The Bet To Complete
After placing the bet, it’s time to watch the race or championship to see if it’s a winning payout.
For payouts, most top bookies will payout between 1-5 days of the bet being settled.