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
TOP F1 BETTING SITES FOR CANADIAN PLAYERS
Maple Leaf Icon CANADA'S FAVOURITE
1
CANADA'S FAVOURITE
Betway Sports
2006
Bonus C$250
Paytime 24 hrs
Payment Methods
visa
paypal
skrill
neteller
NHL - Money Back if your team loses in overtime
visa
paypal
skrill
neteller
Payout 100%
NHL - Money Back if your team loses in overtime
2
888Sport
2008
Bonus C$200
Paytime 24 hrs
visa
mastercard
paypal
skrill
visa
mastercard
paypal
skrill
Payout 100%
3
Spin Palace Sportsbook
2001
Bonus C$1000
Paytime 24 hrs
visa
mastercard
skrill
neteller
visa
mastercard
skrill
neteller
Payout 100%
4
BetOnline
2004
Bonus C$2,000
Paytime 48 hrs
visa
mastercard
skrill
neteller
visa
mastercard
skrill
neteller
Payout 50%
5
Sportsbetting
2003
Bonus C$1000
Paytime 24 hrs
visa
mastercard
skrill
bitcoin
visa
mastercard
skrill
bitcoin
Payout 100%, but fees for some withdrawals

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:

  • 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

  • How to Sign Up to a Formula 1 Betting Site

    • Formula 1 Betting Site - Fact 1

      Choose one of the best Formula 1 betting sites we recommend on this page

    • Formula 1 Betting Site - Fact 2

      Find the ‘sign up’ button on the homepage. It should be clearly displayed

    • Formula 1 Betting Site - Fact 3

      A registration form needs filling in with your personal details

    • Formula 1 Betting Site - Fact 4

      Create a password for your betting account, usernames and pin numbers may be optional to give extra protection

    • Formula 1 Betting Site - Fact 5

      Security questions and answers can add even more levels of safety

    • Formula 1 Betting Site - Fact 5

      Promo codes to activate welcome bonuses may be needed

    • Formula 1 Betting Site - Fact 7

      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:

    • Formula 1 - Fact 1

      Championship races called Grands Prix are held at various venues all over the world each year, including Canada

    • Formula 1 - Fact 2

      Formula 1 authorities can add or remove races from the calendar

    • Formula 1 - Fact 3

      Each driver races for a constructor who makes the cars, and each constructor can have several drivers racing for them

    • Formula 1 - Fact 4

      Drivers are allowed to have 3 practice sessions on the circuit, across Friday and Saturday

    • Formula 1 - Fact 5

      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

    • Formula 1 - Fact 6

      Grand Prix races are over several laps of the circuit, and pitstops to refuel and change tyres are always needed

    • Formula 1 - Fact 7

      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

    • Formula 1 - Fact 8

      The driver with the most points after all Grand Prix races are complete is crowned world champion

    • Formula 1 - Fact 9

      The constructor with the most combined points is also crowned world champions

    • Formula 1 - Fact 10

      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:

    Lewis Hamilton
    Lewis Hamilton
    2.75
    Sebastian Vettel
    Sebastian Vettel
    3.50
    Charles Leclerc
    Charles Leclerc
    4.50
    Valtteri Bottas
    Valtteri Bottas
    5.00
    Max Verstappen
    Max Verstappen
    21.00
    Bar
    Bar
    101.00

    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

      Grand Prix winner

      Which driver will win a Grand Prix race?

      Eg:
      Lewis Hamilton
      to win the British Grand Prix
      Lewis Hamilton to win the British Grand Prix
      2.75
    • Fastest qualifier

      Fastest qualifier

      Which driver will qualify for a Grand Prix with the fastest time, and thus be on pole (unless given a grid penalty)?

      Eg:
      Valtteri Bottas
      Valtteri Bottas
      4.00
    • Top three finish

      Top three finish

      Can the driver make the podium and finish a Grand Prix in the top three?

      Eg:
      Daniel Ricciardo
      Daniel Ricciardo
      21.00
    • Winning team

      Winning team

      Which constructors will the winning driver represent in a Grand Prix race?

      Eg:
      Ferrari
      Ferrari
      2.10
    • Not to finish

      Not to finish

      Will a driver fail to complete a Grand Prix race?

      Eg:
      Lance Stroll
      Lance Stroll
      3.00
    • Winning nationality

      Winning nationality

      Which country does a winning Grand Prix driver represent?

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

      Drivers’ Championship winner

      Futures betting should be available throughout the season on which driver will be crowned outright world champion.

      Eg:
      Sebastian Vettel
      Sebastian Vettel
      6.00
    • Constructors’ Championship winner

      Constructors’ Championship winner

      As above, a futures market should also be there on which constructor will be crowned world champion.

      Eg:
      Mercedes
      Mercedes
      1.50

    Bonuses

    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 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
    • Enhanced Odds

      Enhanced Odds

      • 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
    • 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
      • 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
    Mobile Betting

    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
    Live Formula 1 Betting

    Top 10 Formula 1 World Drivers’ Champions

    • Michael
      Schumacher
      Michael Schumacher
      7 times
    • Juan Manuel
      Fangio
      Juan Manuel Fangio
      5 times
    • Lewis
      Hamilton
      Lewis Hamilton
      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

    Formula 1 World Constructors’ Championship Winners

    These 15 constructors of Formula 1 cards have all won the world championship:

    • Ferrari
      Ferrari
      16 times
    • Williams
      Williams
      9 times
    • McLaren
      McLaren
      8 times
    • Lotus
      Lotus
      7 times
    • Mercedes
      Mercedes
      5 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

    Conclusion

    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.

    Conclusion

    FAQs

    How does Formula 1 betting work?

    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.

    What are the best sites to bet on Formula 1?

    We’ve shortlisted the best Formula 1 betting sites on this page after consulting with our experts.

    Can I bet on Formula 1 on mobile?

    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.

    What are the most popular Formula 1 bets?

    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
    Is Formula 1 betting legal in Canada?

    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!

    What is Formula 1 live betting?

    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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