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

Over recent years, many US states have legalized sports betting, including for some of the best F1 events of the year. The law stipulates that it’s not essential to live within the state where you’re choosing to place a bet, however you do need to physically be in that state during the time of betting.

Wanting to place a bet on the pole position driver at the Monaco Grand Prix? Let’s go through the states that have made it legal bet through the best Formula 1 betting sites.

• New Jersey
• Pennsylvania
• Delaware
• Rhode Island
• Mississippi
• West Virginia
• Nevada
• New Mexico
• Arkansas
• New York
• Arizona
• Colorado
• Connecticut
• Illinois
• Indiana
• Iowa
• Louisiana
• Michigan
• New Hampshire
• Oregon
• Tennessee
• Virginia
• Wyoming

With each state, you’ll find unique rules and laws for online sportsbooks and sports betting in general. For example, in New Jersey and Pennsylvania, full-scale betting is possible via mobile and at land-based venues. However, online sports betting is limited in some states, meaning access to the best Formula 1 betting sites is illegal and wagers must be placed at land-based casinos.

Bonuses at the Best Formula 1 Betting Sites

When checking out some of the best Formula 1 betting sites, you’ll notice they all offer some form of bonus to customers. Most commonly offered to new customers as a welcome bonus, there are also many available for existing gamblers.

As with all our recommendations, it’s important to read through the terms and conditions of any bonus you like the look of before accepting and placing your first deposit. There’s nearly always a range of bonuses available, so let’s have a look at some of the most common ones you’ll find at F1 betting sites. 

Matched Deposits

When accepting a matched deposit, this means that the bookie you’ve registered with will match your deposit with their own money. Typically, this type of bonus is written as a percentage, and may read something like ‘100% match on your first deposit up to £200’. In this particular example, the online bookmaker will equal your deposit up to a maximum amount of £200 — deposit £200 and you’ll get another £200 in bonus funds, for a total of £400 to play with. Aside from the capping, you’ll often find other conditions such as wagering requirements, so be sure to read through and make sure you understand all the T&Cs before placing your bet deposit. 

Free Bets

Free bets are a frequently offered bonus, as both a welcome to new customers and a promotional offering to existing sports bettors — they’re an ideal way to try out something new without having to use any of your own money. A free bets bonus may be offered by a gambling site as ‘wager £10, get £20 in free bets’. Sounds great, right? It could be, but be mindful of any terms and conditions which diminish the true value of the bonus. There will no doubt be stipulations on how the free bets can be used and how long you have to do so.

Risk-Free Bets

Often a great way of testing the water, risk-free bets are offered by bookmakers to attract new customers to their site. In reality, the term ‘risk-free betting’ is a bit of a misnomer — while the risks are definitely lowered, you aren’t entirely free from the possibility of losing money. 

Accepting a risk-free bet means you’ll get something back, no matter the result of your initial wager. However, you won’t necessarily win back all your money — you could receive a percentage of your lost stake, or it might be returned in the form of free bet tokens which can’t be withdrawn. As with all betting site offers, some risk-free bonuses are better than others. You’ll find the usual terms and conditions of use here, so read through carefully before placing your wager.

Payment Methods at F1 Betting Sites

The best Formula 1 betting sites will always offer a range of payment methods, so you’re sure to find one that suits your requirements. There are pros and cons to each one, so let’s break down the details for some of the payment methods you’re likely to encounter.

Debit Cards

A well-trusted method of placing a bet, debit card deposits often reach your F1 betting site wallet instantly, however withdrawing a payout can be a little slower — sometimes taking up to five working days. There is a positive for Visa debit card customers: at supporting sites, you’ll be able to access the Visa Fast Funds service, allowing participating F1 betting sites to offer payouts in as quickly as just a few hours.

e-Wallets

Some of the most well known e-wallets are PayPal, Neteller, and Skrill. There are a whole host of benefits that come with this payment method. One is the high level of security it offers, as no bank details need to be submitted to the betting site. In addition, you’ll find that the speed of withdrawals is much quicker than with debit cards. 

Alongside this, e-wallet accounts are great for keeping a close eye on your financial activity, as you can log in and check your transaction history any time — it’s a great way to keep tabs on your spending and keep funds separate from your usual bank account. Many e-wallets offer mobile apps to make managing your account even easier.

Prepaid Cards

Prepaid cards offer a safe and convenient way of making deposits at the best Formula 1 betting sites. Bought over the counter at participating retailers, you’ll be given a unique PIN that you simply enter in order to deposit funds to your betting site wallet. Prepaid cards are great for the security conscious, as no bank details are shared at any time. Similarly, if you want to have a strict handle on how much you wager, then this may be the best payment method for you — the financial restriction of a prepaid card means that once you’ve used up the amount on the voucher, you can’t make any more deposits unless you buy a new card. 

One of the leading prepaid cards is Paysafecard, which is available in over 40 countries around the world. A downside to using this method is when it comes to cashing out your betting balance — it’s not possible to withdraw to a Paysafecard and you’ll need to use another payment method..

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 Betting on the Best Formula 1 Betting Sites

Mobile betting sites offer a great opportunity to check out odds or place bets while you’re on the go. Not only that, some of the best F1 betting sites have created F1 betting apps that can really personalize your gambling experience. While downloading an app does take up space in your phone’s storage, you’ll get the smoothest mobile experience, the ability to access betting markets with just a few taps, and push notifications can alert you to the best offers and latest promotions available.

Features of F1 Betting Apps

• Live streaming – get on-the-go access to all the sportsbook’s live streaming options. 
• More user-friendly – because the app has been designed for your device, it’s easier and quicker to navigate than a mobile site.
• Bonuses and promotions – you may find that some apps offer unique bonuses and promotions specifically for app users.
• Push notifications – these alert you to the latest promotions so you never miss out on an offer.
• Payment methods – you’ll get access to the same payment options as the desktop site, and many apps support Apple Pay or Google Pay too.
• Customer support – there may be live chat facilities directly available through your app.

States with Mobile F1 Betting

• Nevada 
• New Jersey
• West Virginia
• Pennsylvania
• Rhode Island
• New York
• Iowa
• Oregon
• Indiana
• New Hampshire
• Illinois
• Michigan
• Colorado
• Washington DC
• Tennessee
• Virginia
• Wyoming
• Arizona
• Connecticut

In these states, mobile sports betting sites are available for use on both iOS and Android devices. Formula 1 betting laws and regulations will vary for each jurisdiction so always make sure you’re accessing a licensed F1 betting app or site — all our recommendations on Compare.bet meet this requirement.

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!