Top US Sportsbooks for Formula 1 Betting

Formula One, or F1, is one of the most popular and exciting motorsports to bet on. Formula One is widely recognized as the pinnacle of motorsport and now, after the repeal of the Professional and Amateur Sports Protection Act (PASPA), US residents in states with legal sports betting can bet on this high octane sport. Here at Compare.bet US, we have everything you need to know about F1 betting, from where you can legally bet on events to a breakdown of some of the most popular bet types you can place.

Looking to bet on F1 racing in New Jersey? We’ve got a lineup of the best sports betting sites in the Garden State. Compare our expert reviews, scores and the bonuses on offer to pick out the bookie that suits you best. All of our featured sportsbooks are legal and regulated in the state of New Jersey. All that’s left for you to do is make your pick, sign up and start betting.

US States with Legal Formula 1 Betting

The 2018PASPA repeal paved the way for each US state to legalize sports betting on its own terms. The following states have legalized sports betting, meaning bettors can wager on Formula 1 races:

•     New Jersey
•     Pennsylvania
•     Delaware
•     Rhode Island
•     Mississippi
•     West Virginia
•     Nevada
•     New Mexico
•     Arkansas
•     New York

Of course, each state has different rules and laws for sports betting. Some states, such as New Jersey and Pennsylvania, allow full-scale betting online, via mobile and at land-based venues. However, some states limit sports betting to land-based casinos, as is the case in Mississippi, Arkansas, New Mexico, New York and Delaware.

Betting on the Formula One World Championship

As the highest class of single-seater auto racing approved by the Fédération Internationale de l’Automobile (FIA), it should come as no surprise that F1 events are some of the most exciting races around. The standard F1 season typically runs March through September and consists of a series of Grand Prix races which take place at various circuits around the world.

The FIA uses a point-based system to determine champions in two different categories: one for drivers and one for constructors. The FIA awards the Formula One World Drivers’ Championship to the highest performing F1 racer in a season, while the Formula One World Constructors’ Championship is awarded to the season’s most successful F1 constructor.

With 21 Grand Prix events in a season, there are a variety of betting opportunities available to punters. Bettors can bet on several different aspects, from a single race winner to the winner of the constructor’s championship.

Picking a Winner

Anything can happen in an F1 event, which makes it so hard to pick a winner. Races are often decided by split-second decisions, and even the smallest change to a driver’s car can add or subtract seconds off their lap time. While you may find tipsters that have a high success rate, it’s important to remember that their tips cannot guarantee you a winning bet.

Instead of relying on a tipster, we recommend conducting your own research using official F1 statistics to help make an educated bet. Official F1 driver stats such as wins, podium finishes, points and standings can be found on Formula One’s official drivers page. 

Formula 1 Betting Markets

The best Formula 1 betting sites take bets on a large number of betting markets. Betting markets can vary between operators and states, but here are some of the most popular ones:

Race winner

These are bets on who will win a particular race. Odd are typically updated before a race and in real-time as races playout.

Futures

Futures bets are wagers on upcoming events that haven’t taken place yet. These bets allow you to wager on events ahead of time, such as the winner of the Xfinity Series, before the season begins.

Fastest lap

Fastest lap wagers revolve around which driver will finish an individual lap in the quickest time.

Top 3

Top 3 bets involve predicting which three drivers will finish in first, second and third place.

Drivers’ Championship winner

These bets involve correctly predicting which driver will finish the year at the top of the leaderboard.

Constructors’ Championship winner

A wager on the constructors’ championship winner will require punters to predict which team will finish first in the season.

Formula 1 Betting Odds

It’s important that you understand how betting odds work before betting on an F1 race or series, you should make sure that you have a strong understanding of how betting odds work. Odds are essentially a sportsbook’s prediction of what could happen in an event. These vary between sportsbooks, so we recommend shopping around to find the best prices. Although most US sportsbooks will display odds in the American format, you might also see them displayed as fractional or decimal odds.

With American odds, bookies’ favorites are indicated with negative (-) odds, and the underdog is represented with positive (+) odds. When it comes to F1 racing, all of the drivers are racing at the highest level in motorsport, as a result of this, a sportsbook may have several choices with negative odds. While they may all be priced differently, the negative odds indicate that there is a high chance of them winning.

Here is a real-world example of F1 betting odds:

During an upcoming Grand Prix event, a sportsbook might have team Mercedes drivers Lewis Hamilton and Valterri Bottas at different odds to win the race. Hamilton to win has odds of -130, while Bottas to win is priced at +130. This indicates that Hamilton is likely to win and that a Bottas victory is unlikely. At these odds, making a successful wager of $100 on Hamilton could win you back your initial $100 stake and a modest profit of $90.91. A riskier bet on Bottas would 

would win you back your initial stake of $100 and $130 in profit for a total of $230, if he were to win.

Check out our how to read odds guide for a detailed breakdown of exactly how betting odds work.

Mobile Formula 1 Betting:

While sports betting is legal in more than 10 US states, only a handful allow online and mobile sports betting.

Mobile sports betting is legal and live in:

•   Nevada – Online betting is only available via mobile apps.
•    New Jersey – Online betting available via apps and browser sites.
•   West Virginia – Online betting available via apps and browser sites (currently suspended)
•   Pennsylvania – Online betting available via apps and browser sites.

In these states, mobile sports betting apps are available on both iOS and Android devices. Sites can also be accessed via desktop computers and laptops for in-browser betting.

Each jurisdiction has its own sports betting laws and regulations. As a result,  the availability of sports betting apps and betting sites varies from state to state. New Jersey’s regulator, for instance, allow punters to create an account on a sports betting app remotely from anywhere within the state. In Nevada, on the other hand, bettors must set up an account in person at a land-based casino sportsbook before betting on a mobile app.

For more information on picking the right sports betting app for you, check out our mobile betting apps guide.

Online Formula 1 Betting in New Jersey

Online Formula 1 Betting in Nevada

Online Formula 1 Betting in West Virginia

Now that you’re all caught up on the basics of Formula 1 betting, why not try your luck with a Formula 1 bet. Want to keep up to date with information on legal US sports betting? BettingUS.com has got you covered!