F1 betting guide for 2022

Canada boasts a Formula 1 world champion and two current drivers in motorsport’s pinnacle event, which is why there’s strong F1 betting interest in the country. Check out our page to learn more about how to bet on F1, what sites to wager at, the best bets to take and more.

Best F1 betting sites in Canada

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Last reviewed: January 2022
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The expert team at OnlineGambling.ca carefully reviews and ranks the best online casinos and sports betting sites available in Canada, based on the following criteria: security, payout speed, win rate, bonuses, choice of games/sports markets, customer service and mobile compatibility. Read more about us.
Canada’s top sportsbook
1 Since 2006
4.5 /5
Excellent
C$200 Bonus
  • Check icon Win Rate: 100%
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Pros

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Cons

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Payments

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Quickest payouts
2 Since 2001
4.4 /5
Great
C$200 Bonus
  • Check icon Win Rate: 100%
  • Check icon Payout Speed: 24 hrs

Pros

  • Check icon Easy sports navigation
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Cons

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Best navigation
3 Since 2012
4.3 /5
Great

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  • Check icon Win Rate: 97.17%
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Pros

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Cons

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Payments

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Best customer service
4 Since 2003
4.2 /5
Great
C$10 Bonus
  • Check icon Win Rate: 100%
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Pros

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Cons

  • Check icon Few payment options

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5 Since 2008
4.2 /5
Great
C$300 Bonus
  • Check icon Win Rate: 100%
  • Check icon Payout Speed: 24 hrs

Pros

  • Check icon Large sports betting selection
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Cons

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Best racebook
6 Since 1997
4.1 /5
Great
C$125 Bonus
  • Check icon Win Rate: 97.22%
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Pros

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  • Check icon Stylish sportsbook design
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Cons

  • Check icon Few esports betting options

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7
4.0 /5
Great
C$300 Bonus
  • Check icon Win Rate: 100%
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Pros

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Cons

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8 Since 2003
3.8 /5
Good
C$500 Bonus
  • Check icon Win Rate: 100%
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Pros

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Cons

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9
3.9 /5
Good
C$1,000 Bonus
  • Check icon Win Rate: 100%
  • Check icon Payout Speed: 5 days

Pros

  • Check icon Big variety of sports markets
  • Check icon Award winning mobile app
  • Check icon Great sports betting promos

Cons

  • Check icon Slightly confusing sports page

Payments

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10 Since 2017
3.9 /5
Good
C$200 Bonus
  • Check icon Win Rate: 100%
  • Check icon Payout Speed: 1-3 days

Pros

  • Check icon Multiple live betting options
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  • Check icon Quick payout times

Cons

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Payments

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How to bet on F1

  1. Sign up to one of our recommended sportsbooks and log in.
  2. Head to the sports section, and find Formula 1 or F1.
  3. Click on the Grand Prix or F1 futures odds markets.
  4. Pick your bet type, eg race winner or to three finish.
  5. Choose which driver or team you wish to bet on to add to your betslip.
  6. Enter how much with you wish to bet.
  7. Confirm the bet.

How F1 odds work

We’ll take you through a Formula 1 race betting example to show you just how F1 odds work:

Lewis Hamilton
Lewis Hamilton
1.80
Max Verstappen
Max Verstappen
2.37
Valtteri Bottas
Valtteri Bottas
15.00
Charles Leclerc
Charles Leclerc
41.00
Daniel Ricciardo
Daniel Ricciardo
101.00
Bar
Bar
251.00

As Mercedes’ Sir Lewis Hamilton has the lowest odds (1.80), this means that he is the favourite to win the Grand Prix in question. To work out how much you’d win, you just need to times his F1 odds by how much you wish to stake. So, a C$10 bet would see you win C$18 in total, which is C$8 in profit.

If you were to back an outsider like McLaren driver Daniel Ricciardo at 101.00, a C$10 bet could land you a huge C$1,000 profit plus your stake back. Some sportsbooks will show a ‘Bar’ Formula 1 betting option, which is a market for any other driver than the ones displayed to win.

Decimal odds are used in our example because they’re the most common for F1 betting in Canada. Most sportsbooks will give you option to view them in an American moneyline (eg -125) or British fractional (4/5) format. For more on comparing different ways of expressing F1 betting odds and finding out potential profits, see our calculator below:

Formula 1 betting options

Now to go through our F1 betting tips for finding the best bet types for Grand Prix race and championship title markets:

  • Grand Prix winner

    Grand Prix winner

    There are many Grands Prix across the season, and this is the most popular market as it is simply for who will win a race. For instance, Lewis Hamilton’s British Grand Prix odds could be 1.80 for him to finish first.

    Eg: Lewis Hamilton
    to win the British Grand Prix
    Lewis Hamilton to win the British Grand Prix
    1.80
  • Each-way

    Each-way

    Like in horse racing, there is also an F1 each-way bet option. Most sportsbook’s Formula 1 betting rules for this will state you only receive winnings on the first two places, with 1/3 of the odds.

    Eg: Valtteri Bottas
    Valtteri Bottas
    4.00
  • Dual forecast

    Dual forecast

    A common question is ‘what is a dual forecast bet in F1?’. It’s when you pick two drivers to finish in the top two places in any order. If one or both of the chosen drivers finishes outside of the top two, then your bet loses.

    Eg: Hamilton & Verstappen
    Hamilton & Verstappen
    15.00
  • Winning team

    Winning team

    Which constructor will the winning driver represent in a Grand Prix race? So, if you think one of two Ferrari drivers Charles Leclerc or Carlos Sainz will win the next race, then choose this market.

    Eg: Ferrari
    Ferrari
    15.00
  • Top three finish

    Top three finish

    Can the driver make the podium and finish a Grand Prix in the top three? This is similar to an each-way bet, except you’ll receive the same winnings whether your chosen driver finishes first, second or third.

    Eg: Daniel Ricciardo
    Daniel Ricciardo
    21.00
  • Fastest qualifier

    Fastest qualifier

    You are even able to make a bet on F1 qualifying. While most drivers will have a similar price and betting market position to their race odds, this is a sought-after bet, especially in wet weather, as it effectively levels out all the cars, allowing talented drivers in smaller teams to fight for pole position.

    Eg: Garrett Smithley
    Garrett Smithley
    15.00
  • Not to finish

    Not to finish

    This is an intriguing F1 gambling market, as this is mostly about potluck. But, if you do your research and find out a team is struggling with mechanical issues or Hamilton and Verstappen are due another collision, then you can stand a better chance.

    Eg: Lance Stroll
    Lance Stroll
    3.00
  • Winning nationality

    Winning nationality

    If you want to be patriotic and back Canadians Lance Stroll or Nicholas Latifi to win their first F1 race, you can choose this market. Other countries with multiple representatives in F1 currently include Britain, Germany, Spain, France and Finland.

    Eg: Finnish winner
    Finnish winner
    4.50
  • Drivers' Championship winner

    Drivers' Championship winner

    One of two most popular F1 futures odds markets, this is to bet on which driver you think will be crowned champion for the season. Will Hamilton win yet another championship? Or can young pretender Verstappen finally claim his first title? F1 Drivers’ Championship odds will fluctuate throughout the season.

    Eg: Hamilton & Verstappen
    Hamilton & Verstappen
    15.00
  • Constructors' Championship winner

    Constructors' Championship winner

    Another F1 futures bet, this time on which constructor (or team) will be crowned world champion. You can take your pick from the likes of Mercedes, Red Bull, McLaren, Ferrari and more in this F1 Championship betting odds market.

    Eg: Mercedes
    Mercedes
    1.50
  • Live betting

    Live betting

    Live F1 betting is also an in-demand feature, allowing you to gamble on Grands Prix right up until the chequered flag. Sportsbooks traders are constantly updating odds as drivers race around every corner of the circuit, with popular markets available including race winner and top three finish.

F1 betting bonuses explained

To support your Formula 1 betting, it’s great to gamble through a sportsbook that offer bonuses. Broadly speaking, such offers fall into one of these three categories:

  • Welcome bonus

    Welcome bonus

    • You can fully expect to receive some form of bonus for joining a betting site.
    • This is known as a welcome bonus or sign up offer.
    • They are for new customers only and may require a promo code or cash deposit in order to start betting on Formula 1.
  • Enhanced odds

    Enhanced odds

    • Sportsbooks may boost prices on outcomes to encourage Canadian players to bet on Formula 1.
    • These enhanced odds are available to both new and existing customers.
    • These F1 betting enhancements are only available for a limited time, so be quick.
  • VIP club

    VIP club

    • Bettors who gamble regularly can have their loyalty to a sportsbook rewarded through a VIP Club.
    • To qualify for weekly bonuses, simply place the required number of qualifying bets within the timeframe.
    • Similar to enhanced odds, VIP Clubs are open to both new and existing customers looking to bet on F1.

F1 betting apps & mobile options

The vast majority of sportsbooks dedicate their time to updating and building the best F1 betting apps, which can be used on an iPhone, Android or tablet device. These apps are free to download, taking only a few clicks to set up your login details.

If a sportsbook doesn’t offer an F1 betting app, they’ll always have a mobile site version. As long as you have a steady internet connection, you can bet on F1 from your mobile device wherever you may be and claim bonuses and place all the odds available on the desktop version.

Mobile Betting

More on sports betting

Top Formula 1 drivers (by championship titles)

We’ve listed the top 10 most successful F1 drivers in terms of championship wins. Lewis Hamilton and Sebastian Vettel are the only current drivers, and feature in the F1 world champion odds betting.
  • Michael
    Schumacher
    Michael Schumacher
    7 times
  • Lewis
    Hamilton
    Lewis Hamilton
    7 times
  • Juan Manuel
    Fangio
    Juan Manuel Fangio
    5 times
  • Alain
    Prost
    Alain Prost
    4 times
  • Sebastian
    Vettel
    Sebastian Vettel
    4 times
  • Jack
    Brabham
    Jack Brabham
    3 times
  • Jackie
    Stewart
    Jackie Stewart
    3 times
  • Niki
    Lauda
    Niki Lauda
    3 times
  • Nelson
    Piquet
    Nelson Piquet
    3 times
  • Ayrton
    Senna
    Ayrton Senna
    3 times

Top Formula 1 teams (Constructor Championships)

In the other Formula 1 Championship odds market, these 15 teams have all won the Constructors’ title, with the Prancing Horse of the Ferrari way out in the lead:

  • Ferrari
    Ferrari
    16 times
  • Williams
    Williams
    9 times
  • McLaren
    McLaren
    8 times
  • Lotus
    Lotus
    7 times
  • Mercedes
    Mercedes
    7 times
  • Red Bull
    Bull
    4 times
  • Cooper
    Cooper
    2 times
  • Brabham
    Brabham
    2 times
  • Renault
    Renault
    2 times
  • Vanwall
    Vanwall
    1 time
  • BRM
    BRM
    1 time
  • Matra
    Matra
    1 time
  • Tyrrell
    Tyrrell
    1 time
  • Benetton
    Benetton
    1 time
  • Brawn
    Brawn
    1 time

How we review F1 betting sites

  • Security
    Security:

    does the site provide a safe gambling environment with encrypted servers that protect your account?

  • Customer service
    Customer service:

    professional and friendly support being available in a variety of forms 24/7 is essential

  • Bonuses
    Bonuses:

    a welcome offer as standard, but other promotions that give you every reason to come back and bet again

  • Licenses
    Licenses:

    Canadian gambling authorities have given the site their thumbs up, so it’s legal to use in the region

  • Markets
    Markets:

    a great range of Formula 1 odds to bet on throughout the season

FAQs

Is Formula 1 betting legal in Canada?

Yes, you can bet on F1 in Canada legally, as long as you’re playing at a legitimate sportsbook with a license to operate in the region, such as the ones we recommend.

What are the best F1 betting sites?
What are the most popular Formula 1 bets?
What are F1 betting lines?
Can I make an F1 accumulator bet?
How many F1 races are in the season?
How can I watch the F1 in Canada?