With the growing popularity of Formula One, both among viewers and at sportsbooks, this page explains how to bet on F1 racing. Our Formula One betting guide contains breakdowns of the different types of F1 bets and some wagering strategies. We’ll also cover how to set up an account and where you can legally bet on F1 racing. 

How to bet on F1 races 

Here is a rundown of the most common ways to bet on F1 racing at online sportsbooks

Outright winner

The first option at most books is the outright winner of a given race, often called a grand prix. The favorite in most F1 races, Max Verstappen, has dominated the sport over the past few years and will often have negative odds (indicating a heavy favorite) to win any race he has entered. Other contenders may get odds of +400 or longer to win. For instance, a $10 bet on Lando Norris could net $50 if he wins a race at +400 odds. 

Podium finish

Books will offer adjusted odds for a driver to finish in the top three with a podium finish bet. Some books offer top two or top six finish bets, as well. Betting on a driver to finish in the top six, three, or two in the race will cash if your pick ends up anywhere in that range. The larger the field, the shorter the odds, so Verstappen might have -155 odds to win a race and -500 odds to finish on the podium. 

Top 10 finish

The largest field that books typically offer is a top 10 finish. Most drivers whom books consider to be contenders will have negative odds to finish within the top 10. If Sergio Perez has the fifth-best odds to win a grand prix outright at +1600, he might have odds of -800 to finish in the top 10. This bet offers the option to back a lesser-known driver to crack the top 10, even if that driver seemingly has little chance to push for a podium finish.  

Team props 

Racers are often grouped together into teams, sponsored by automakers or other corporations. Books will offer odds on the winning car type based on those team names, with Verstappen’s Red Bull Racing brand often leading the odds boards. There will also be a line on the first car type to retire, with the odds essentially reversed. 

Lines are available for each team to place multiple drivers in the top six, top 10, or on the podium. Teams can also be credited for the fastest lap, fastest pit stop, and fastest speed recorded in a race. 

Qualification and practice betting 

Prior to the official start of a grand prix, drivers will compete in a qualifying race to determine who earns poll position in the actual race. Qualification-related bets include fastest qualifier, the winning margin, fastest speed recorded, and the last classified driver to make the cut. Then there is a free practice lap with similar bets available. 

Betting on F1 racers

You’ll also find lines on specific drivers that go beyond their prospective finish in the race. Here is a look at some of the available prop bets

Matchup odds 

Oddsmakers will pit drivers against one another in artificial head-to-head matchups. An example might be a proposition on which driver will finish in a higher position: Oscar Piastri or Carlos Sainz. Moneyline odds will correspond with how likely books think those drivers are to push for a podium finish. 

Fastest lap

Formula One races typically require 50-plus laps to complete. The winning driver might not necessarily record the fastest lap in that large of a sample, so Verstappen often gets longer odds to record that distinction. Books may also offer a parlay on a driver to record the fastest lap and win the race, boosting the odds on a potential payout. 

Winning margin

Sportsbooks will offer a range of times to separate the race winner and second place, or the winning margin. An example might be +130 odds on the winner to finish under six seconds ahead of second place, +150 odds to finish over 12 seconds ahead, and +350 odds to finish between six and 12 seconds ahead of second place. 

Safety car 

This is a prop bet on whether a safety car will appear during any part of the race. This is often more likely than not, as the safety car is deployed anytime there is a crash, hazards, or a complicating situation on or near the track. Odds might be -400 for a safety car to appear and +300 for no such car to appear during the race. 

Nationality of winner 

This market allows bettors to group together a number of potential outright winners by country of origin, or nationality. Since Verstappen is Dutch, that country often has the shortest odds, while a number of British, French, Spanish, and Australian drivers are leading candidates in the rest of a typical race field. Formula One is very popular in Monaco, so Monegasque might be a category in this bet. 

How do I read Formula One lines?

Many F1 racing lines count as futures since they are bets on whether a driver will win a race or finish in a certain position. 

Highly negative numbers indicate shorter odds and an outcome that sportsbooks deem to be extremely likely. For instance, they may list Verstappen to be classified for the grand prix at -1600. It would take a $160 bet on that outcome to win $10 in profit. Longer odds indicate a less likely outcome, so a lesser-known driver might get +2000 odds for a podium finish. A successful $10 bet on that driver would profit $200. 

Formula One betting strategies 

Reading through all the lines ahead of a Formula One can help inform bets. The odds will indicate what sportsbooks view as each driver’s likelihood to finish toward the top of the field. This can point to more conservative choices, if that is what a bettor is looking for, such as taking a driver with the fifth-best odds to win the race to finish in the top six. 

Certain drivers may perform better on certain tracks or in certain locations, perhaps if they’re competing close to their country of origin. Weather conditions can play a role in track conditions, so it could be helpful to research how well a driver performs on a wet or dry track. 

Live betting is available during F1 races, and informed bettors may be able to find an edge based on when a driver’s next pit stop might occur. Team dynamics are also an important factor in terms of getting the driver through a pit stop quickly, so it might be helpful to research how well teams like Red Bull Racing and Mercedes are performing. 

How to bet on F1 online

  1. Pick one of the sportsbooks listed above and click on the link to get started. 
  2. Sign up for an account and make a deposit. Remember to gamble responsibly.
  3. Collect any promotions or welcome bonuses that come with your deposit. 
  4. Once the account is live, go to the racing section and find Formula One events or futures. 

Formula One betting FAQ

What is the most popular type of F1 bet? 

Backing the outright winner is the most popular type of F1 bet, although it might not be immediately profitable. Top 10 and podium finish bets are also popular. 

When are the biggest F1 races? 

The Grand Prix de Monaco occurs in late May. The FIA Formula One World Championship travels around the world, with a grand prix in Canada in June, Great Britain in July, and the United States in October. There are 24 total rounds scheduled for the 2024 F1 championship season, with the finale coming in Abu Dhabi on Dec. 6-8. 

What is a grand slam in F1 racing? 

The grand slam refers to a driver winning pole position in qualifying, then leading every lap of the race en route to victory, and also setting the fastest lap. A “hat trick” refers to winning pole position, fastest lap, and the race, but not necessarily leading each lap. 

Who are the best F1 drivers? 

Max Verstappen of the Netherlands has set multiple records since he burst onto the scene in 2014 at 17 years old. In 2023, Verstappen set a record with 19 wins in 22 grand prix races. Lewis Hamilton, 39, is a seven-time world champion who drives for Team Mercedes. Hamilton might be passing the torch to a younger British driver, 24-year-old Lando Norris. Spanish driver Fernando Alonso is also among the world’s best. 

Can you bet on F1 at US sportsbooks? 

Yes, most sportsbooks will offer many of the above wagers in states where online sports betting is legal. 

How do parlays work in F1 racing? 

Most books will accept parlays of bets from the same race or from multiple races. A parlay involves combining multiple bets into one wager with a higher potential payout but greater risk since the parlay pays nothing if even one leg fails to cash.