Best Formula 1 Betting Sites 2024 - Formula 1 Bets, Odds & Promos

A Brief History of Formula 1

The history of F1 dates back to as early as the 1920s during the popular European Grand Prix. Over the years, the European competition morphed into the current Formula 1. However, it was not until the standardisation of rules by the FIA in 1946 that Formula 1 formally took off. During its inception, it was defined as a premier single-seater racing category in the worldwide motor racing calendar. These new rules became what was known as Formula A or Formula 1. Later, a Formula B or Formula 2, which as Voiturette formula was introduced. Later on, there was a third formula called 500C formula. This was recognised as Formula 3.

Engine capacity has always been a cornerstone of F1. At the start, the competition was based on pre-World War regulations on engine capacity. These rules are changed and modified periodically to bring some balance and level the playing field. Besides, various safety measures have been put in place to prevent the high number of deaths witnessed at the start of the competition. Today, the Grand Prix calendar involves races from various locations throughout the year.

Formula 1 – Rules/Things You need to know before placing a bet

Formula 1 is similar to many motorsport racing competitions. However, you need to understand a few things before you start F1 betting. First, you need to understand the different betting options available in the game. A list of the most popular F1 betting markets and bet types is discussed in a section below. Second, understand what it takes to be a winner whilst betting on F1. The driver that completes the track a predetermined number of times the fastest is declared the winner. Apart from speed, the judges look at the general handling of the car and general ride.

It is good to check the qualifying races before the main event. The pre race performance of the driver during the qualifying round has a bearing to their performance in the main event. You can also bet on the pre race qualifying events and use the results to make decisions on which drivers to back in the main event. The drivers follow the 107% rule. It means that drivers are not allowed to exceed 107% per cent of the fastest time during the qualification stage in order to be allowed to reach the finals. They must also reach a set minimum time during the practice session.

There are different types of flags that may have an effect on the driver and their chances of winning. They include the status flags, chequered flags and instruction flags. The five status flags; red, yellow, green, white and yellow and red stripes indicate conditions of the track and may stop or slow down your selected driver. On the other hand, the instruction flags are more about the penalties that your driver would get, except the blue one, which instructs them to give way. Drivers are awarded points when they cover at least 90% of the racetrack. The winner goes with 25 points while the tenth gets a point. If a race stops and cannot be restarted, the top ten drivers get half the points as long as they have completed 75% of the distance.

Top Formula 1 Betting Sites

Bwin

Bwin has a blog, which provides the latest information on the F1 circuits around the world. In addition, the online betting site provides a wide range of betting markets that you can pick for your F1 bet. During some of the races, online sportsbooks offer bonuses such as free bets, reload offer or boosted odds. You can bet on practice, qualifying and the final race while enjoying awesome bonus packages.

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Betway

In addition to providing the latest news and stories about F1, Betway offers very good odds for most of the sports betting markets. Some of the most popular markets with the F1 betting site include Futures Bets, driver matchups and the Podium finish. You can bet on both the pre race and live markets. Besides, the online betting site has a few bonuses that you can use on various markets for the race. Some of the top bonus offers include cash reload bonuses and boosted odds.

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1xBet

1XBet is known for its wide coverage of F1 markets and is one of the best F1 betting sites. In addition to the popular bet types, the betting site allows players to create their own combinations based on the events that are likely to take place on the field and increase their odds. 1XBet betting options during the Formula 1 season includes price boosts and cash bonuses. Players also get bonuses they can use in betting for other sports on the platform. It has pretty impressive live betting odds to take advantage of throughout the racing session.

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Formula 1 Bets Explained

You can bet on various events that are likely to happen before or during F1 competitions. Sports betting sites calculate the probability of each event happening and present them as markets with definite odds. Here is a look at some of the most popular F1 markets as displayed by the leading F1 betting sites.

Race winner

This is the most straightforward of bet types as you simply bet on a driver to win the race. F1 betting sites provide the market for individual races. Markets are also available for live betting. Depending on the particular race, race winner odds are often quite high. However, unless, you have a clear winner, the market can also be the most difficult to predict.

Win, Place and Each Way Betting

This market is usually composed of two bets, one for the selected driver to win and the other for the driver to place in any of the positions offered by the bookmaker. This means that you can make sure to get a part of your stake back if your selection wins or just places. In this case, you place twice what you would like to bet on each option.

Season Markets

In the seasons market, you place a bet on the top team of the season instead of individual races. Some bookmakers extend the market to incorporate individual brands that sponsor the top teams. This bet is settled at the end of the season when we have a winner and usually has very high odds when you bet at the start of a circuit.

Podium, Top 6 and Points Finish

A podium finish is the case where the driver finishes first, second or third. You can also bet on the driver to finish among the top six positions on the race. For the points finish, you make an estimate of the number of points that the driver will earn in the race.

Qualifying Markets

The qualifying market covers qualifying races in an F1 circuit. These races take place just before the main competition after practice. The markets are similar to the main race in terms of the winner, each way, and win margins. Most punters use the qualifying races to make predictions of the possible performance in the main race.

Fastest Lap

In this market, you bet on the car that will record the fastest lap during the event. The bet is not based on whether the driver will win the race. The fastest lap is important for drivers because it adds a point to their tally if they finish the race in the top 10 positions.

Winning Margin

In this type of bet, you wager against the difference in time in crossing the finish for two of the best drivers. The winner margins may be provided as exact tomes or as over/under markets so that there is a range within which the winning bet falls. The odds for the market range from medium to high.

Driver to Retire

This market is usually available before the start of each race. Here you bet on the chance that a particular driver would not be finishing the race due to a crash or any other incident. The market is straightforward but requires some research on possible drivers that have a past record of not finishing a race. The market has low to high odds depending on your selection.

Team Markets

Each team in F1 has two drivers who contribute to the final score at the end of the racing season. Betting on F1 teams usually involves wagering on the performance of both drivers. You can bet on the best teams for the F1 season, over and markets on total points and overall team position.

Safety Car during the Race

A safety car is a car that is sent on a track in case there is an incident such a crash or a breakdown of a car to guide the rest of the drivers. Bookmakers allow you to bet on whether there will be a safety car in a particular race. Others spice the offer by defining the period within which the safety car might be present.

Driver / Team Specials

Team or driver specials cover on events that touch on drivers and teams as well as their performance. Examples include betting on a driver/team to lead any lap, to make the first or last pit stop, number of pit stops, to get a penalty, speeding in the pit lane, fastest lap, retire before the start or on the first lap.

Formula 1 In-Play Betting

You can bet on your favourite team or drivers in the in-play section of your preferred F1 betting site. Most F1 betting sites provide all the bets available in the pre-match section in the in-play betting section. Therefore, you still have the chance to make a winning bet. However, expect some bets to become unavailable, especially if they are based on the performance of a particular team or passage of time.

Many bookmakers provide a real-time update of the events of the racetrack to enable you to make informed selections. You can place your bet at any point during the race. However, odds may change as time places and performance stats start to stream in. Besides, while, not very popular, some bookmakers offer bonuses that you can use to increase your win on the F1 live betting section.

Formula 1 Live Streaming

You can get live streams of F1 competitions from your preferred online bookmaker. However, this feature is only available with selected bookmakers. If a particular circuit is available for streaming, the bookmaker notifies the players with an icon, such as a TV besides the game markets. Most bookmakers that stream F1 require players to have a positive balance on their account or to have placed a bet in the previous week. Streaming is a great way to keep at tabs with your favourite driver or team as you wait for the bets to be settled.

Popular Formula 1 Drivers & Future Stars

Over several decades, some drivers have shone in various competitions with some winning consecutive competitions. Others have had outstanding skill in particularly tough races and got noticed. This is a list of some of the most outstanding drivers in the modern F1 history and their success.

Lewis Hamilton

Lewis Carl Davidson Hamilton is a British F1 driver that competes for the Mercedes-AMG Petronas teams, having moved from the McLaren team. He is one of the most successful men in the sport to date having won seven world championship titles and tied to Michael Schumacher. Other wins in his record include having pole position 97 times, 163 podium finishes, 227, best-point finishes and an outstanding 3738 career points.

Sebastian Vettel

SebastionVetell is a four-time winner of the F1 world drivers championship for the years 2010 to 2013. Prior to this, he was the youngest driver to have completed a race in 2009 and finished as a runner up. He also became the youngest racer to walk away with the Driver’s Award in the year 2010. His win has inspired several young drivers that are interested in joining the competition.

Max Verstappen

Max is a Belgian-Dutch F1 racing driver that races with the Red Bull Racing team. He became the fastest racer to compete in Formula One at age 17 years and 166 days. Before joining the Red Bull team, he started out with the Italian team. He proceeded to win the Spanish Grand Prix in 2016 and eight more race victories after this. In 2019, he finished third in the world drivers championship.

Charles Leclerc

Charles Leclerc is a Monaco racing driver currently competing under Scuderia Ferrari. He won the GP3 Series championship in 2016 and proceeded to win the FIA Formula 2 Championship in 2017. Charles was the youngest driver to qualify for a pole position in Formula One at the Bahrain Grand Prix. He then won with Belgium followed by a win at the Italian Grand Prix. He is considered one of the future stars of Scuderia Ferrari and Formula 1 as a whole.

Lando Norris

Lando is a Belgian-British driver that competes at Formula 1 with McLaren under the British nationality. Among his exploits is winning the MSA Formula Championship in 2015, Formula Renault 2.0 Northern European Cup, Eurocup Formula Renault 2.0 and the Toyota Racing Series. Later on, he won at the 2017 FIA Formula 3 European Championship. Lando has had 35 entries and a podium finish. He has also accumulated 123 career pints across various competitions.

The Most Famous Grand Prix

Different Grand Prix events present different challenges. The most famous ones in this list are those that present a significant challenge to Formula I drivers. Most venues undergo transformations periodically, enhancing their safety and spicing up the game. You may find other great circuits on the internet. However, these are far the most famous ones in the history of Formula One racing.

Monza, Italy

Monza is known as the home for Ferrari, 16 times winners of the Formula 1 Constructors championship. It is one of the oldest racing venues for the competition, dating as early as the 1950s. While it is not the trickiest track for Formula 1 racing, it has featured the most in the Formula 1 competition. The only time it did not host the Italian Circuit was in 1980 when the competition was held at Imola.

Silverstone, England

This venue is located in Northamptonshire. It has undergone numerous modifications over the years to enhance its glory. The most famous period when it hosted F1 racing was in 1997. During the time, it had a total length of 5.14 kilometres and had Corpse and Priory altered to make both quicker. The venue has always been a favourite for most F1 fans with the venue hosting over 350,000 fans across the three days of the competition.

Monte Carlo, Monaco

The Monte Carlo Grand Prix is famous for being one of the few street circuits in the F1 competition. The track is laid out well across the streets of La Condamine and Monte Carlo around the harbour. This challenging circuit is used for the Formula One Monaco Grand Prix and Formula E Monaco ePrix. The circuit is one of the most prestigious and attracts thousands of fans in each competition.

Spa-Francorchamps, Belgium

The motor-racing circuit is located in Stavelot, Belgium. It hosted its first Grand Prix in 1925 and has been holding one each year since 1983, with exception of four instances. The venue also hosts various international events such as the World Endurance Championship and 24 hours of Spa. Currently, the circuit is 6.95 km in length.

Formula 1 Betting FAQ

Can you bet on F1?

You can bet on F1 at your favourite bookmaker. Most of the bookmakers provide over 10 different markets on F1 races with options available to play in the in-play betting section. The choice of bets and odds depends on the bookmaker.

Which bookmaker covers the most F1 events?

There is no single sports betting site that covers most F1 events. It depends on the F1 season. However, the best Formula 1 betting sites cover over 80% of the events that take place during the competition including the constructors championship. You can compare the coverage of events among the leading Formula 1 betting sites.

Which bookmaker offers the most F1 markets?

The betting market coverage differs from one circuit to another. However, most leading online sports betting sites offer tens of betting markets with specials and customised options available for their places. You may want to check a few listed in this article.

Can I use welcome bonuses on F1 bets?

A welcome bonus is used by online sportsbooks to attract new customers. Where the bookmaker has allowed you to bet on any game in the sportsbook with your bonus, you can indeed use the welcome bonus to bet on F1. It is important to read the terms and conditions of the free bet offer to determine what games and bet type new customers can bet with the welcome bonus.

Which bookmakers offer F1 betting?

Some of the best F1 betting sites include Betway, Bwin, Bet365, Pinnacle Bet and MarathonBet. Check if your favourite bookmaker also covers the competitions and the number of available markets. You can find the information on F1 betting under racing or motor racing sections.

Where can I bet on F1?

You can bet on F1 at your favourite bookmaker. Popular brands where you can bet on the game include Paddy Bet, 888bet, Bwin, 1Xbet and Betway. Given that F1 is a popular sport, most of the best online bookmakers would definitely cover it.

What is the best bet in F1?

There is no single bet type that can be said to be the best on F1 racing. It depends on the probability of the event happening and the number of odds. That is why it is advisable to make sure and check different markets before picking one for your betting.