One of the most exciting parts of Formula One racing is the betting. F1 racing attracts worldwide attention because it gives you a lot of options when it comes to your bets, with a variety of races and drivers to bet on, including in New York, where retail sports betting is legal and online sports betting could be on the way.
Unlike the racers, you might not know where to go when presented with all of this information, especially if you have never bet before. Sports betting involves risk, and you certainly don’t want to throw your money away on an ill-advised bet.
Best F1 betting sites in NY
While online sportsbooks are not yet legal in New York, they are likely on their way, with a large selection already available in New Jersey.
Offering both daily fantasy sports and actual bets on dozens of sports, DraftKings is one of the leaders in the sports betting industry. It was founded in 2012 and has been going strong for about 10 years now. You can find a variety of contests and games to bet on for all types of sports.
That’s one of the biggest benefits of using DraftKings as your sportsbook — the many sports available. The interface is pretty easy to use, and picking a sport is easy. Just take a look at the events going on for that day and make your wager.
The DraftKings app also offers Formula 1 racing, and the website has an entire page for the rules of motor sports. Just select a race, and DraftKings allows you to place wagers on various scenarios.
Much like DraftKings, FanDuel started as a daily fantasy sports site that now also offers sports betting. It has been around since 2009 and is based in New York. You can go to its website and find all of the sports that it offers, as well as all of the bets taking place for that day or the sport of your choice.
Once you create an account and have an idea of what you want to bet on, it’s very easy to both deposit and withdraw money to fund your bets and collect any winnings. The ease of use is one of the best things about FanDuel, and it’s why so many people like using the site. The sportsbook currently offers bets on the 2021 Formula One Championship.
After placing your bet on FanDuel, you just need to wait and see how the race goes and then you can either collect your winnings or mourn your losses. Either way, FanDuel’s website is easy to use for folks who are new to sports betting as well as veterans.
While BetMGM is a relative newcomer to online betting, it offers quite a lot. It has both a website and an app, allowing you to connect to the website from anywhere. They have a full range of betting to choose from, including live sports, and both the website and the application are very easy to navigate and get around in.
Perhaps one of the best things about BetMGM Sportsbook is its bet slip, which allows you to test different bets before placing them. There’s also a collection that shows all of your current bets, so you don’t have to go back through different web pages just to keep track of everything. It’s very handy if you plan to make multiple bets at the same time, and want to have a central hub to track them all.
BetMGM also offers betting on dozens of live sports, including Formula 1, and you can easily select F1 and see exactly what you can bet on.
PointsBet has a distinctive method of betting going for it, as well as a few other aspects that make it a wonderful online sportsbook. First, it offers a points-themed betting option. Instead of receiving a set amount of cash if you win and nothing if you lose, PointsBet changes your payout depending on how much your bet wins or loses by.
For example, if you bet on the Denver Broncos over the Seattle Seahawks at a line of -7, your winnings and losses would change based on the score. If the Broncos instead win by 14, your winnings would be multiplied by seven to account for the change.
This opens up a wide selection of prop bets, and PointsBet offers far more prop bets than any other sportsbook we have seen thus far. There’s a lot that you can bet on, and if you think you can handle it, you can focus on several bets at once.
Along with all the prop bets, there are typical bets on live sports. However, while PointsBet does have NASCAR betting, it does not yet have bets on Formula 1.
William Hill Sportsbook
Based in the UK, William Hill is a sportsbook with roots stretching back nearly a century. It has a lot of things that you can bet on, and one of those is F1 racing. Betting and making deposits on the website is easy, and you’ll be able to start betting without any trouble.
William Hill was once a retail betting shop that moved into the online sports betting world and has grown from there. It is a trusted sports betting operator in both the United States and the United Kingdom.
Popular F1 betting options
There are several types of bets that you can place on a Formula 1 race. It can be a bit overwhelming at first, but once you get comfortable, you will be able to pick the best type of bet for you.
The most common type of bet is the to-win bet. It’s an extremely simple bet that does exactly what it says on the tin. You just need to pick a driver and place your wager, and if that driver comes in first, then you win your bet.
There also is the podium bet, which is a lot like the to-win bet, except the driver you pick will need to end up in either first, second or third place. If the driver is on the podium, then you win your bet. These bets don’t have any change in payout odds, so the F1 odds for a third place driver are the same as the odds for first place. The odds are pretty good no matter what, so this is a fairly safe area for beginners.
Driver matchups are a fun bet that is a bit more reliant on your knowledge of a driver’s skills. To participate in a driver matchup, you simply choose which of two drivers will beat the other in the race. Driver matchups are great if you’re looking to wager on drivers who have small chance of winning or reaching the podium in a race. It’s a fun bet that can keep you concentrating on the race because you want to see your driver do well.
Finally, prop bets can be interesting. These bets may not have anything to do with the final result of the race; they are just bets that people do for fun. For example, prop bets might include:
- Which driver leads the most laps.
- How many caution flags will appear in the race.
- If a crash or pileup will occur.
These are fun little bets and often don’t have a lot of money riding on them, but they can make things interesting.
Betting on F1 qualifying
Qualifying for Formula 1 determines the position that all the cars will start in during the race. There are three sessions, in which 20 cars compete to be the fastest. Over the course of each round, the five slowest cars are eliminated, and then the final 10 complete in the third round to determine their position.
There are plenty of bets that you can make on qualifying. You can bet where drivers will be located on the track, as well as how long they will last in each of the rounds.
3 top F1 betting tips
Here are three tips to help you get the most from betting on Formula 1.
- Spread your bets out across multiple drivers. While putting everything on one driver to win the entire race may seem like fun, you have a much better chance of winning if you bet on multiple drivers and scenarios.
- Look at the history of the drivers. Every single circuit is different, and just because a driver did really well at one type of circuit doesn’t mean that driver will do well at another. Everyone has strengths and weaknesses.
- Take a look at the weather. The cloud cover, humidity and changes in temperature can all affect the cars and the drivers, not to mention the state of the track.
Live betting on F1
If you’ve never bet on a live race, you owe it to yourself to try for the adrenaline rush alone. You’ve probably watched Formula 1 races before, and maybe even studied the statistics or career of a particular driver. All of that will seem like child’s play once you put money on a race, and you’ll find that your heart is pounding and your eyes are glued to the screen as you follow your racer.
It’s a massive rush, all ending in excitement if you win.