Formula 1 Betting Guide for 2020
Start your engines. Our Formula 1 betting guide is here. This motorsport captures global attention like no other.
Formula 1 betting in Canada matters because of the legacy left by famous father-son duo Gilles and Jacques Villeneuve. Here’s what our guide contains:
- What the best Formula 1 betting sites should have and how to sign up to them
- Background and history of this popular motorsport, including past champions
- More Formula 1 betting advice on available markets and how odds work
How we Review the Best Formula 1 Betting Sites
What should you look for in a top Formula 1 betting site or sportsbook? Our experts have identified five key criteria to consider:
How to Sign Up to a Formula 1 Betting Site
Choose one of the best Formula 1 betting sites we recommend on this page
Find the ‘sign up’ button on the homepage. It should be clearly displayed
A registration form needs filling in with your personal details
Create a password for your betting account, usernames and pin numbers may be optional to give extra protection
Security questions and answers can add even more levels of safety
Promo codes to activate welcome bonuses may be needed
Agree to the terms and conditions of the betting site and verify you’re old enough to gamble in Canada
An Introduction to Formula 1
Before talking through Formula 1 betting, the basic principles of motorsport are worth looking at. These are some key facts:
Championship races called Grands Prix are held at various venues all over the world each year, including Canada
Formula 1 authorities can add or remove races from the calendar
Each driver races for a constructor who makes the cars, and each constructor can have several drivers racing for them
Drivers are allowed to have 3 practice sessions on the circuit, across Friday and Saturday
They then take part in qualifying on Saturday, where the driver with the fastest lap time earns pole position on the grid for Sunday race day
Grand Prix races are over several laps of the circuit, and pitstops to refuel and change tyres are always needed
Points are awarded for finishing in the top 10 places. An extra point goes to the fastest race lap too, if the driver finishes in the top 10
The driver with the most points after all Grand Prix races are complete is crowned world champion
The constructor with the most combined points is also crowned world champions
It is rare for the world drivers’ champion not to represent the world constructors’ champion
How Formula 1 Odds Work
In order to get to grips with Formula 1 odds and understand how betting on motorsport works, we’re going to walk through an example:
This is a typical betting market on a Grand Prix race. Only five drivers are rated less than 100-to-one chances to win.
Lewis Hamilton is the favourite because his odds are the smallest. For every $4 staked on the British driver, you would win $7 and receive total returns of $11 if he crosses the line first.
Of the five drivers we’ve quoted prices for, Max Verstappen is the outsider. The same $4 stake would return $84, meaning $80 in profit if he wins the Grand Prix.
Decimal odds are used in our example because they’re the most common for Formula 1 betting in Canada. Fractional prices may appear on some British-based sportsbooks. For more on comparing different ways of expressing odds, see our calculator.
Formula 1 Betting Options
Want to know what are some of the most popular Formula 1 odds and bet types available? Check these out:
Grand Prix winner
Which driver will win a Grand Prix race?Eg:Lewis Hamilton
to win the British Grand Prix2.75
Which driver will qualify for a Grand Prix with the fastest time, and thus be on pole (unless given a grid penalty)?Eg:Valtteri Bottas4.00
Top three finish
Can the driver make the podium and finish a Grand Prix in the top three?Eg:Daniel Ricciardo21.00
Which constructors will the winning driver represent in a Grand Prix race?Eg:Ferrari2.10
Not to finish
Will a driver fail to complete a Grand Prix race?Eg:Lance Stroll3.00
Which country does a winning Grand Prix driver represent?Eg:Finnish winner4.50
Drivers’ Championship winner
Futures betting should be available throughout the season on which driver will be crowned outright world champion.Eg:Sebastian Vettel6.00
Constructors’ Championship winner
As above, a futures market should also be there on which constructor will be crowned world champion.Eg:Mercedes1.50
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:
- You can fully expect to receive something for joining a betting site
- This is called a welcome bonus or sign up offer
- They are for new customers only and may require a promo code, cash deposit and/or qualifying bets to activate
- Boosted prices on favourites and fancied betting outcomes are common
- These enhanced odds are open to both new and existing customers
- However, they are only available for a limited time so be quick
- 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
- Like enhanced odds offer, VIP Clubs are open to both new and existing customers
Mobile Formula 1 Betting
Betting on smartphones and tablets has become ever more popular. They are part of our daily lives now, so it makes sense that gambling goes on through them. What are the advantages of something like mobile Formula 1 betting, though?
- Sportsbooks have developed betting apps for digital devices that use Android and Apple operating systems
- These are free to download and, if your smartphone or tablet uses different systems, there’s always the mobile site to fall back on
- As we take mobile devices with us everywhere, you can bet on the go anywhere that has an internet connection
What is Formula 1 Live Betting?
- Gambling on Grand Prix races can continue right up until the chequered flag
- Formula 1 live betting is available throughout races and supplement regular fixed odds prices nicely
- Sportsbooks traders are constantly updating odds as drivers race around every corner of the circuit
- The in-play nature of Formula 1 live betting creates extra excitement
- Popular markets include race winner and top three (podium) finish
Top 10 Formula 1 World Drivers’ Champions
Formula 1 World Constructors’ Championship Winners
These 15 constructors of Formula 1 cards have all won the world championship:
There you have it. Our guide to Formula 1 betting in Canada is complete. Motor racing really is an action-packed sport and your gambling can now go full throttle.
To avoid crashing and burning when betting, though, you may want to consult our FAQs section below. There’s lots of answers to common queries and even more Formula 1 betting advice in store.
Find the wager you want to place from Formula 1 betting odds and add it to your betslip. Enter you stake – that’s the amount of money you’re gambling – and place the bet.
We’ve shortlisted the best Formula 1 betting sites on this page after consulting with our experts.
Absolutely. Formula 1 mobile betting exists and is readily available on your smartphone or tablet. Just download sportsbook apps for free or visit the mobile site via web browser.
Here are some of most popular Formula 1 odds and betting types people wager on:
- Grand Prix winner
- Fastest qualifier
- Top three finish
- Winning team
- Not to finish
- Winning nationality
- Drivers’ Championship winner
- Constructors’ Championship winner
Sure, Formula 1 betting in Canada is nice and legal. Just use a sportsbook or betting site with a license to operate in the region!
Formula 1 live betting allows you to gamble on a Grand Prix while the race is going on. Odds are constantly updated in reaction to what’s happening on the circuit.
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