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 Betting 10 Ten.

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 throughout the year. The most notable events include the upcoming 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. To successfully open an account, follow these instructions: 

1. First, you will need to click Register at the top right of the Betway home page. 
2. From there, you will enter your first and last name, and your date of birth. Click next once finished.
3. After you have clicked next, enter your Username and create a password. You will also need to send an e-mail and confirm your password with your account. Once that is all filled out, click next.
4. Lastly, you will enter your address and mobile phone number. If you choose to, you can also impose Daily, Weekly, or Monthly limits on your account.
5. Confirm the language you wish to play in and the currency you wish to deposit in. You will also need to enter your industry and occupation. Lastly, you can choose which welcome offer 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 76th season of the Formula 1 Championship Racing is in full gear, 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, his new team, 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. Williams +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-Renault 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.

Betting strategy and betting tips

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!

F1 rules & format

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!

Format:

• F1 consists of 10 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 miles.
  

Rules:

• 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.
• Technical rules include the number of engines allowed throughout the course of the year and their hybrid components.
  

F1 also has flags to indicate certain situations:

• Red – Race is halted
• Yellow – Hazard on track
• Yellow/Red Stripes – Caution, Oil/Liquid on track
• Green – 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

F1 teams & drivers

2025 is already running laps with up-to-the-minute F1 betting odds. Already, Formula 1 fans are making their final bets on team Renault backing up Alpine as its engine supplier, which continues to move the needle on the season matchup odds. Keep up with the fast and furious news that only Formula 1 Race delivers.

Mercedes

After more than ten years with Mercedes, Lewis Hamilton left to ride with Ferrari. Prior to the departure, Hamilton was the king of the constructor bets because his twelve-year tenure at Mercedes was the longest.

Drivers: George Russell takes over as the lead driver with his four seasons driving for Mercedes. Andrea Kimi Antonelli is a rookie, and Valtteri Bottas is still under contract.

Alpine: For those making constructor bets at the best Formula 1 betting sites, Alpine finished in sixth place for the 2024 season. The bright spot for the 75th season was the strong podium finishes at the Sao Paolo Grand Prix. Alpine has the F1 betting odds in flux with the sudden resignation of Oliver Oaks and the growing rumors of Valtteri Bottas joining the team in 2026.

Drivers: Jack Doohan replaces Esteban Ocon. Pierre Gasly and Franco Colapinto are part of the 2025 Alpine Formula 1 racing team.

Haas F1 Team: The Haas racing team finished the 2024 F1 season in seventh place. From the start, Haas was dealing with lawsuits, including Dutch court officials evaluating the team’s assets during the Dutch Grand Prix. For the 2025 season, team Haas picked up points during the Chinese Grand Prix.

Drivers: Hulkenberg and Magnussen left team Haas after the 2024 season. The current drivers are Esteban Ocon and Oliver Bearman.

McLaren

McLaren carried the momentum of the 2024 season straight into 2025. Team McLaren won their first Constructor Championship in 2024 since 1998. Led by ace drivers, Lando Norris and the up-and-coming Oscar Piastri are the darlings of Formula One betting with 226 points and 234 points respectively.

Drivers: Landro Norris and Oscar Piastri

Red Bull Racing

With Max Verstappen behind the wheel, he celebrated his fourth straight world championship in 2024 en route to nine total races, the most of any F1 driver. Already for the 2025 season, Verstappen has won three races, including coming in second place for the 2025 Grand Prix.

Drivers: Max Verstappen, with Liam Lawson taking over for Sergio Lopez after a subpar 2024 season.

Aston Martin

Team Aston Martin finished the 2024 season in fifth place in the Constructors’ Championship. Fernando Alonso finished the 2024 season strong with 70 points, including a masterful race in Saudi Arabia. While the F1 betting odds aren’t on the side of Aston Martin, Team Aston Martin is planning on switching to the Honda engine beginning in the 2026 season.

Drivers: Fernando Alonso is under contract through 2026. Lance Stroll is still developing.

AlphaTauri

After the 2023 Formula One season, Team AlphaTauri turned off their engines for good. It was a memorable three years for AlphaTauri and the top Formula 1 betting sites

Drivers: Final drivers (Yuki Tsunoda and Nyck de Vries).

Racing Bulls

To say that Team Racing Bulls, formerly known as Alpha Tauri, finished the 2024 season on a sour note is a gross understatement. However, with Isack Hadjar behind the wheel, the rookie has already scored points in the Monaco and Spain races.

Drivers: Isack Hadjar, Liam Lawson, and Yuki Tsunoda

Ferrari

With Lewis Hamilton in full swing in his first season already replacing Carlos Sainz Jr., Team Ferrari finished in second place for the 2025 Constructors’ Championship. Charles Leclerc already has three wins for the 2025 season.

Drivers: Lewis Hamilton and Charles Leclerc

Alfa Romeo

Team Alfa Romeo finished the 2024 season in a noticeable decline from their 2023 season. After finishing in 9th place for the 2024 Constructors’ Championship, Team Alfa Romeo ended its longtime sponsorship as it transitions to its future partner, Audi. Alfa Romeo for the 2025 season is under the Kick Sauber banner.

Drivers: Valtteri Bottas and Zhou Guanyu

Williams

Bad luck and several technical issues took the wheels off Team Williams for the 2024 Formula 1 season. 2025 is proving to be a transitional year to upgrade the car mechanics led by British GP. Already, for the 2025 season, Team Williams is scoring more than in 2024. At the start of the 2025 season, Team Williams signed a multi-year sponsorship with the Australian company, Atlassian. Carlos Sainz Jr. is a major figure among the top Formula 1 betting sites with 27 career podiums.

Drivers: Alexander Albon and Carlos Sainz Jr. 

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 2025 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!

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.

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 is between July 25 and July 27th on the Circuit de Spa-Francorchamps.

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. With 9 wins at the British Grand Prix, including in 2024, Hamilton’s spot atop the leaderboard (at this event) will be unmatched for quite some time with Formula One betting. After 52 laps of furious racing, Max Verstappen emerged victorious at the 2025 British Grand Prix.

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 drivers will rev up their engines for the 2025 Italian Grand Prix between September 5 and the 7th. After a tight race, Lando Norris edged George Russel for first place. Team McLaren dominated the 2024 Italian Grand Prix with Norris’ partner Piastri finishing in second place by less than a second.

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!

Individuals (Grand Prix Winners):

• Lewis Hamilton – 103 Wins
• Michael Schumacher – 91 Wins
• Max Verstappen - 73 Wins
• Sebastian Vettel – 53 Wins
• Alain Prost – 51 Wins
• Ayrton Senna – 41 Wins
• Max Verstappen – 35 Wins
• Fernando Alonso – 32 Wins
• Nigel Mansell – 31 Wins
• Jackie Stewart – 27 Wins 
• Jim Clark/Niki Lauda – 25 Wins

Teams (Constructors’ Titles):

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