Best Formula 1 Betting Sites: F1 Betting Guide & Tips

Since 2021, Canadians have been proudly revving up their engines and Formula One betting. Thanks to the passage of C-218 in 2021, Formula 1 betting sites continue to explode throughout Canada, thanks to the ability to bet on single-event sports like the Grand Prix and Formula 1 Racing. Because they happen frequently, Canadian sports betters are invited to keep up with the speed of the latest Formula 1 betting odds with elite Canadian sportsbooks reviewed by BettingTop10.

We’ve seen an increase in the popularity of Formula 1 in recent years. The Formula One scene has been a popular betting market, but the sport saw an injection of commotion thanks to Netflix’s documentary, Drive to Survive. It became an instant hit and is credited with the increase in popularity in North America and specifically, Canada.

As a global event, you’ll see Formula 1 action at various locations every season. The most notable annual events include the Las Vegas Grand Prix (USA), Monaco Grand Prix, Italian Grand Prix, and Abu Dhabi Grand Prix!

The purpose of this page is to inform bettors on everything related to F1 betting. From the popular markets to the most notable racers and teams, we’ve got you covered with an informative guide to keeping you familiar with the world of Formula One racing!

So, start your engines, and let’s dive into the world of F1 betting.

Tons of bookmakers will offer Formula 1 odds. Finding F1 betting odds isn’t a challenge. However, finding proper bookmakers that will satisfy the needs of Formula One bettors is a hurdle everyone must go through. We run through a personal (unbiased) checklist to rate bookmakers, helping you gain knowledge without ever compromising integrity. Some of the things we look for include:

Promotions and Bonuses: Bettors love treats and promotions/bonuses are the best thing since sliced bread. This doesn’t even need to officially factor in F1, either. We look at bonuses, promotions, and other events that F1 bettors can take advantage of. Having strong promotions and bonuses offering can go a long way.

Markets: One of the biggest factors we look at are the markets offered for F1 bettors. Bookmakers need to have the best betting markets available because if not, then what is the point of registering for a site? Markets betting sites should include are odds for the next upcoming race, as well as futures on the Constructors’ Championship,

Security: Betting on Formula One sites will include submitting compromising details like personal address, name and banking details. Bookmakers that want to be highly rated will need tons of security measures to protect users.

Customer Service: While this may not directly impact F1 betting per se, offering the best customer service practices is something we hold in high regard. Bettors who wager on Formula One may run into troubles and need a pit stop (help). We see what services are offered by betting sites and how they can help those that bet on F1.

General F1 Coverage: Is Formula One treated as an afterthought or is it just another sport added to bloat a sportsbook? When rating bookmakers, we want to see that F1 betting is a priority and not just added to a site so bookies can say they offer it! F1 bettors are passionate, and we want to ensure they are being treated with importance.

Yes, it is legal to bet on Formula 1 in Canada! If the bookmaker you choose is licensed in your residing province, you should have no issues betting on Formula 1 action!

Opening an account is the next step in betting on F1 action. The exact process will be a little different at each sportsbooks, but successfully open an account at most sites, follow these instructions:

1. First, you will need to click Register or Join at the top right of the home page.
2. From there, you will enter your first and last name, your date of birth, and other personal information.
3. After you have clicked next, most sites will ask for your email and have you create a Username and password for your account. You may also need to verify your e-mail address with a code.
4. Lastly, you need to opt-in to the terms and conditions and any bonus offers you want to participate in.

If these steps are followed correctly, you will have officially registered an account!

Recommendations When Opening an Account

When registering for a new betting site, ensure you are reading the terms and conditions of the site. As well, make sure you are familiar with ongoing promotions, terms of bonuses and customer service options.

Confirming banking methods and payment options is another way to prepare for betting sites and we also recommend scoping out the betting markets and sports you want to wager on!

Researching the bookmaker you want to join and all of its pros and cons will help you make an informed decision when joining an F1 betting site.

As the 77th season of the Formula 1 Championship Racing grows closer, let’s explore the different ways to bet on Formula 1 Racing. Beyond the welcome bonuses, the best Canadian sportsbooks explore the latest Formula 1 betting odds on Lewis Hamilton, Ferrari, and the other roaring betting options at the top Formula 1 betting sites.

Alongside welcome bonuses, Formula 1 bettors can take advantage of various bonuses and promotions!! Bookmakers will offer bonuses and promotions to draw attention to their sportsbook and to give users a little freebie. Some of the most notable F1 betting site promotions and bonuses you’ll see are:

Welcome Bonus

These are bonuses gifted to new users of a betting site. Often, welcome bonuses will come in the form of a matched deposit. This means that the bookmaker will match your first initial deposit up to a certain number. Virtually every F1 betting site will offer a welcome bonus for new users.

Boosted Odds

Known as enhanced odds, Boosted Odds give bettors more value for popular lines. If Lewis Hamilton is listed at +125 to have a podium finish, they may give him even better odds than +125 (like +220) as a promotion to encourage betting! Boosted odds are increased odds on a specific bet and moves in favor of the bettor.

Free Bets

These are exactly as they sound. Free Bets are wagers you can make that the sports book will return to you if you lose, normally in the form of bonus cash or site credit. This allows bettors to play without the stress of using personal money, since you’ll be gifted that back by the bookmaker.

Grand Prix Promotions

Every bookmaker is different but certain betting sites will offer promotions based on upcoming Grands Prix. We have seen odds or promotions involving certain racers like Max Verstappen and Lewis Hamilton but there are also promotions based on popular events, like the Monaco Grand Prix!

Like the action on the track, the world of F1 betting is intense, fast and exhilarating! Formula One has been a staple for sports books since its inception into the betting world. The names of Verstappen, Hamilton, Leclerc, Sainz and Alonso are popular picks among the crowd to win any event but it’s no secret every Grand Prix has fierce competition.

This guide will help you learn everything you need to know about F1 betting, including the betting markets, rules and we even provided betting tips to help you become successful!

Markets, betting types and odds

• Outrights – This is one of the most common betting markets in F1. You can wager on which racer will win the F1 Drivers Championship and other events in the future. Likewise, you can also bet on which team will win the Constructors’ Championship. These bets are normally placed before the season begins.
• Season Matchup – Known as a head-to-head battle, you are choosing which team will perform better than their opponent. The odds could be listed as individuals (Hamilton –150 vs. Ocon +250) and you can also bet on teams (Red Bull –120 vs. Ferrari +500).
• To win – Simply put, you are wagering on which racer will win the upcoming Grand Prix. If you choose the correct driver, you win the bet!
• Dual Forecast – Dual Forecast allows you to pick the top two drivers at a Grand Prix. You are wagering on two drivers that will finish in 1^st and 2^nd place. If they do so (in any order), you win your bet.
• Winning Team – In a Grand Prix event, the winning driver is also linked to a team. So, when wagering on the winning team you are betting on which team will win the race!
• Top Three Finish – This is as it sounds. Top three finish wagers involve betting on a driver to finish 1^st, 2^nd or 3^rd in a race, known as a podium finish.

• Fastest Qualifier – You can wager on events before the actual Grand Prix! Wagering on the fastest qualifier is a growing market as it levels out the majority of cars. The only outlier will be how fast one can qualify, and it is not determined by any other factors, such as finishing in the top three or finishing the actual race altogether. Some Canadian sportsbooks have Fastest Qualifier bets as Pole Position wagers.
• Prop Bets - Similar to the player bets you would make betting on R.J. Barrett for the Toronto Raptors or how many goals Joshua Brown will score with the Edmonton Oilers, prop bets also apply to Formula 1 Betting. A common prop bet would be how fast Team Ferrari makes a pit stop, or which driver is forced to bow out of the race first, for example.
• Winning Constructor - If you’re not sure about betting on Lando Norris or Max Verstappen, why not bet on how well team Mercedes or Alpine-Mercedes will do or the races they will win during the 76th season of Formula 1 Championship racing? That’s the power of making winning constructor bets at the top Formula 1 betting sites. Make constructor bets for the entire season for potentially big payouts.

Best F1 betting sites features

Live Streaming

The ability to watch the race you are betting on is a main feature everyone wants. If a bookmaker offers live streaming for F1 races, that is arguably one of the biggest features any bookmaker can enjoy.

News/Stats

One of the most underrated features of a betting site is news and stats. Not every betting site offers this so if an F1 bettor finds a bookmaker that offers live stats and news for the upcoming Grand Prix, that is huge!

Live Betting

The thrill of live betting means you can bet once the race has begun. This offers interesting odds, and the lines can shift at a moment’s notice! Bookmakers offering live betting to wager on F1 are a hot commodity.

Having a strategy is a great start for those looking to bet on F1 racing. To help create a strategy guide, we broke down some useful F1 betting tips!

Qualifying Sessions are Key

No one likes homework, but the qualifying sessions are a factor to consider. This will not only help you see which drivers are learning the track well, but you’ll also learn from starting grid positions. Qualifying determines the starting order for the race! While it’s not the be all and end all of F1 racing, how a driver qualifies could be a great indication to how they place in the actual event.

The Importance of Weather

Weather is a HUGE factor in F1 betting, as well as the races themselves. The potential for rain, humidity or other weather events could drastically change the outcome of a race. Before placing an F1 bet, ensure you check the weather.

Favourites Aren’t Too Shabby

While there can be value in betting underdogs, favourites can be a safe(er) play. There is a reason they are the favourites. Formula One can be dominated by an individual and backing the favourite isn’t considered a bad thing.

Read the News

Researching the news is another tactic to learn about upcoming races. Keeping up to date with the latest breaking news surrounding the world of F1 can give you insight into how a potential race will play out. Being in the know will help you become a more well-rounded F1 bettor.

Multiples Work

When wagering on Formula One, don’t shy away from betting on multiple racers. Realistically, you can find 2 or 3 drivers that will give you great odds (and payouts) if they happen to win. This will allow you to increase your chances of winning your bet and still earn money!

For new F1 fans, understanding the rules and format may be challenging. Below, we look at the main rules and the format of F1 to help you better understand the races!

• F1 consists of 11 teams with two drivers per team.
• Points are awarded to the top 10 finishers of a Grand Prix. The winner receives 25 points while spot 10 receives 1 point. Racers 11-20 receive 0 points.
• Race weekends are three-day events, consisting of two days of practice and qualifying events, followed by the Grand Prix on the third day.
• Qualifying is used to determine grid position for the final race. The faster time you earn in qualifying, the better starting position you will earn.
• F1 race circuits are usually between three to seven kilometers (1.86 to 4.35 miles).
  

• All vehicles must abide by restrictions set in place.
• Pit crews are no longer allowed to refuel during the race.
• Penalties include causing an avoidable accident, unfairly blocking a driver, speeding in the pit lane (and more).
• 300 kilometers plus one extra lap must be completed for a race to be deemed official, so most races are 305 kilometers long.
• Technical rules include the number of engines allowed throughout the course of the year and their hybrid components.
  

• Red – Race is halted
• Yellow – Hazard on track
• Yellow/Red Stripes – Caution, Oil/Liquid on track
• Green – Track is clear / Hazard removed, resume racing
• Blue – Lapped car must let faster cars behind pass

• White – Slow-moving car ahead
• Black – Driver disqualified
• White/Black - Driver warning
• Checkered Flag – End of race

2026 is already running laps with up-to-the-minute F1 betting odds. Formula 1 fans and sportsbooks are still dealing with the major offseason changes of Alpine leaving Renault and Cadillac partnering with Ferrari for a new team. This season should have even more action, since it’s the first since 2016 with 11 teams. You can keep up with the fast and furious news that only Formula 1 Race delivers right here at BettingTop10.

Mercedes

After more than ten years with Mercedes, Lewis Hamilton left to ride with Ferrari at the beginning of last season. The prestigious team coped well without their former star. Mercedes finished second in last year’s Constructors' Championship, two places above Ferrari. The Ferrari- Mercedes rivalry will definitely be one bettors will be watching this season.

Drivers: George Russell finished fourth in his first year as the lead driver for Mercedes. Andrea Kimi Antonelli performed well as a rookie and will continue on with Mercedes this season.

Alpine Formula One (Alpine-Mercedes)

For those making constructor bets at the best Formula 1 betting sites, Alpine finished in last place for the 2025 season. Most people agree this was a big under performance, so they could surprise people with a better run in 2026.

Drivers: Pierre Gasly and Franco Colapinto will repeat with Alpine Formula 1 for the 2026 season

Haas F1 (Haas- Ferrari)

The Haas racing team finished the 2025 F1 season in eighth place. It was a chaotic season as the team was still reeling from the major changes in 2024 following the departure of Guenther Steiner. They had two new drivers, Oliver Bearman and Esteban Ocon. Both are returning this year, so it should be a more stable campaign.

Drivers: Oliver Bearman and Esteban Ocon will return for their second season together with Haas.

Red Bull Racing (Red Bull Racing-Red Bull Ford)

Red Bull has officially parted ways with their partners Porche and joined American company Ford. Changing constructors is always a risk, but with Max Verstappen behind the wheel, it’s hard to bet against Red Bull. He and his team will be hoping to retake Mercedes and Lando Norris as champions this season.

Drivers: Max Verstappen will continue to star for Red Bull. Isack Hadjar has been promoted from Racing Bulls to join him.

McLaren

McLaren carried the momentum of the 2024 season straight into 2025, winning their second consecutive Constructor Championship for the first time in their history. Lando Norris dominated the competition and snatched the World Drivers' Champion title from Max Verstappen. Whether they can repeat will be one of the biggest F1 betting stories in 2026.

Drivers: Landro Norris and Oscar Piastri return to F1 and will try to retain their collective titles.

Aston Martin (Aston Martin Aramco-Honda)

Team Aston Martin finished the 2025 season in disappointing seventh place in the Constructors’ Championship. Lead driver Fernando Alonso got off to a slow start without a top-10 finish in his first eight races, while Lance Stroll had just six finishes in the top 10. Aston Martin fans will be hoping to have a much better 2026 with their new engine partners, Honda.

Drivers: Despite disappointing in 2025, both Fernando Alonso and Lance Stroll are set to race for Aston Martin in the 2026 season.

Cadillac Formula 1 (Cadillac-Ferrari)

American car manufacturer General Motors has entered the F1 scene with their Cadillac brand as Cadillac Formula 1 Team. New entrants always make a big buzz with F1 bettors, but the partnership with Ferrari and the expanded racing field makes Cadillac an especially interesting team to watch in 2026.

Drivers: Former Red Bull racer Sergio Pérez and Mercedes man Valtteri Bottas will make up Cadillac’s inaugural racing team.

Racing Bulls (Racing Bulls-Red Bull Ford)

Formerly known as Alpha Tauri, Racing Bulls finished their second season in 2025 with an impressive sixth place, two spots higher than in the 2024 season. Like the main Red Bull Racing team, Racing Bulls will also have Ford as their new engine constructor this season.

Drivers: Liam Lawson stays on with the Racing Bulls, while Englishman Arvid Lindblad replaces Isack Hadjar and Yuki Tsunoda.

Ferrari

Ferrari’s first season with Lewis Hamilton was an underwhelming one. They were the betting favourites to finish in second place for the 2025 Constructors’ Championship after finishing second in 2024. However, the team ended up in fourth, with neither Hamilton nor Charles Leclerc winning a race during the season.

Drivers: Lewis Hamilton and Charles Leclerc will return for 2026. Both will be hoping for a much better year after their poor 2025 campaign.

Williams Williams (Atlassian Williams-Mercedes)

2025 was Williams’ first year with Carlos Sainz Jr. as their new lead driver. They finished fifth again, four places above where they finished in 2024, proving that it was a smart switch. Will 2026 be even better? It’s too early to say.

Drivers: Alexander Albon and Carlos Sainz Jr will continue with Williams for the 2026 season.

Audi

After purchasing the existing Sauber team in 2024, Audi are entering a team in F1 for the first time since their predecessor company, Auto Union, raced prior to WWII. Unlike Cadillac, Audi are going in alone, which makes them one of the more intriguing teams to watch in 2026.  

Drivers: Gabriel Bortoleto and Nico Hülkenberg will make up Audi’s debut racing team for the 2026 season.

One of the marquee events on the F1 calendar is the Canadian Grand Prix. Regularly hosted in Montreal on Notre Dame Island, the Canadian Grand Prix has seen several winners throughout its event history. Michael Schumacher and Lewis Hamilton both have 7 victories under their belt entering the 2026 season, with Ferrari leading the charge with 14 victories as a team.

The event was first held in 1961 but the Grand Prix finally joined the Formula One World Championship in 1967. Jack Brabham (Australia) would be the first winner under the Formula One umbrella.

Since joining the Formula One World Championship, the Canadian Grand Prix has missed five events. In 1975, the event was not held and in 1987, there was a dispute between Labatt and Molson, two sponsors of the Canadian Grand Prix. 2009 was another year in which the Canadian Grand Prix did not host its event. And most notably, stops in 2020 and 2021 were cancelled due to the COVID-19 pandemic. 

The 2025 edition of the Canadian Grand Prix took place on June 15, with George Russell winning the illustrious event. Max Verstappen finished second by only 0.228 seconds. The 2025 Canadian Grand Prix was full of drama, especially with Oscar Piastri and Lando Norris crashing out.

Those who love to bet on F1 circle their calendar for the Canadian Grand Prix, as it is not only a betting phenomenon but one of the most entertaining races of the season.

The F1 season has several races that catch the eyes of bettors. With thrilling action at every event, F1 bettors have their calendar full all year long.

With that being said, certain events of the F1 season tend to see more action than others. Whether it’s the prestige of events or the popularity of the event, certain races stand out among the crowd. Below are some of the biggest F1 races to wager on!

Belgian Grand Prix

The Belgian Grand Prix is an interesting event on the F1 schedule because of the unpredictable weather. With the potential for heavy rain on race day, there is no telling what can happen when drivers skirt or potentially crash through potential slippery conditions. Due to the unpredictability of weather, the Belgian Grand Prix has become an exhilarating market for F1 bettors!

The 2024 Belgian Grand Prix set records with almost 400,000 fans. A penalty forced Max Verstappen out of first place. With technical issues causing George Russell to eventually lose, Lewis Hamilton ultimately won the 2024 Belgian Grand Prix. The 2025 Belgian Grand Prix took place between July 25 and July 27th on the Circuit de Spa-Francorchamps, with Oscar Piastri winning by 3.415 seconds to his McLaren-Mercedes teammate Lando Norris.

Monaco Grand Prix

Deemed as one of the most prestigious races in the world, all eyes are locked in on this event. It is also one of the oldest races in Formula One and some of the highest rated drivers of all time have won the Monaco Grand Prix, including the likes of Michael Schumacher, Ayrton Senna and Lewis Hamilton. Landon Norris took first place for the 2025 edition of the Monaco Grand Prix and the first Monaco Grand Prix win for Team McLaren since 2008.

Italian Grand Prix

For historical fans, the Italian Grand Prix holds a special place in the hearts of F1 fans. Along with the British Grand Prix, it is the only race to be held every year since the sport’s inception in 1950. Held at the famous Monza Circuit, the speeds reached are jaw-dropping. Despite being one of the longer races on the calendar, top speeds can reach well over 350KPH on straights. For bettors that love speed, the Italian Grand Prix is significant.

The 2025 Italian Grand Prix took place between September 5 and the 7th. Max Verstappen won the marquee event by nearly 20 seconds ahead of Lando Norris. It was the Dutchman’s third win of the season and his second in Italy after winning the Emilia Romagna Grand Prix in May.

British Grand Prix

As the oldest race in the Formula One World Championship calendar, the British Grand Prix has an interesting history. Held at Silverstone, the circuit is deemed fast and is held on the side of a Royal Air Force bomber station and has become more technical due to recent renovations.

Lewis Hamilton has dominated the event and is a favourite every time due to his 9 wins at the British Grand Prix, including in 2024. However, Hamilton lost his top spot to McLaren-Mercedes’s Lando Norris.

Some drivers (and teams) stand out among their peers. To provide you with quick knowledge of the most successful drivers/teams, we created an informative list of the best of the best!

• Lewis Hamilton – 105 Wins
• Michael Schumacher – 91 Wins
• Max Verstappen - 71 Wins
• Sebastian Vettel – 53 Wins
• Alain Prost – 51 Wins
• Ayrton Senna – 41 Wins
• Fernando Alonso – 32 Wins
• Nigel Mansell – 31 Wins
• Jackie Stewart – 27 Wins 
• Jim Clark/Niki Lauda – 25 Wins

• Ferrari – 16 Constructors’ Titles
• McLaren – 10 Constructors’ Titles
• Williams – 9 Constructors’ Titles
• Mercedes – 8 Constructors’ Titles
• Lotus – 7 Constructors’ Titles
• Red Bull – 6 Constructors’ Titles
• Cooper/Brabham/Renault - 2 Constructors’ Titles