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 racing, top F1 online betting sites, the most popular bets to make and more.

Best F1 betting sites in Canada

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Canada’s top sportsbook
1 Since 2006
4.5 /5
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Best betting odds
3.9 /5
None Bonus
  • Check icon Win Rate: 100%
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3 Since 2012
4.3 /5

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5 Since 2008
4.2 /5
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6 Since 1997
4.1 /5
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4.0 /5
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10 Since 2017
3.9 /5
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More on sports betting

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 'top 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 gambling odds work:

Lewis Hamilton
Lewis Hamilton
Max Verstappen
Max Verstappen
Valtteri Bottas
Valtteri Bottas
Charles Leclerc
Charles Leclerc
Daniel Ricciardo
Daniel Ricciardo

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 multiply 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 the 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 odds calculator below.

Popular F1 bets

Now we've got to grips with how odds work, let's go through the F1 best bets for Grand Prix race and championship title markets:

  • Race winner

    Race 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
  • 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
  • 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
  • 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 Jr, will win the next race, then choose this market.

    Eg: Ferrari
  • 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
  • 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
  • Not to finish

    Not to finish

    This is an intriguing F1 gambling market, as this is mostly about pot luck. 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
  • 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
  • Drivers' Championship winner

    Drivers' Championship winner

    One of two most popular F1 futures odds markets, an F1 championship bet is a wager on which driver you think will be crowned champion for the season. Will Hamilton win yet another championship, or will last year's winner Verstappen claim his second title? F1 Drivers' Championship odds will fluctuate throughout the season.

    Eg: Hamilton & Verstappen
    Hamilton & Verstappen
  • 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
  • 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.

OGCA's F1 betting tips

Here are just a few tips to help you master the ultimate F1 betting strategy:

Study the qualifying sessions

A huge factor in determining the outcome of a race is starting grid positions. The further a driver is from pole position (the most favourable place for a car to start the race in, situated on the inside of the first row), the more cars he'll have to overtake.

While the driver in pole position has the advantage, this doesn't mean they're guaranteed to win. In fact, the driver with pole position only ends up winning around 40 to 50% of the time.

Then again, you also need to think about the tracks themselves. There are certain tracks where it's much easier to overtake (Canadian Grand Prix), and others where it's almost impossible (Monaco Grand Prix). So, it's a good idea to watch the qualifying sessions to get an idea of how a driver and vehicle might perform on the day.

Do your homework

Researching how well drivers have previously performed on a given track or under certain conditions is a great way to evaluate their chances of winning. For instance, Lewis Hamilton has had the most success at the Hungaroring and Silverstone circuits, while legendary German driver Michael Schumacher was renowned for his wet-weather driving ability.

You should also study the car's performance on certain tracks – depending on whether the track is straight, has bends, is wet or dry can impact how well a car performs.

Factor in weather conditions

The weather has historically played a big role in affecting the outcome of a race. Heavy, or even mild, rainfall, increases in temperature and/or changes in humidity can all have a dramatic impact on a vehicle's performance.

Study stats and race news

A great bettor will always do their due diligence when it comes to research. For F1, having a data-based betting strategy is a great way to help you beat the bookies in the long term, as well as keeping up to date with the latest racing news and previews.

Go for the favourites

While it's tempting to go for the underdog with the huge payout, you'll find this strategy rarely pay offs in F1 betting as the favourites almost always succeed. In 2019, for instance, Lewis Hamilton won 11 races, absolutely dominating the season.

F1 key info 2022

F1 rules & format
  • F1 Grand Prix races must be no less than 305km long, and can be no longer than two hours for driver safety reasons, unless there have been suspensions
  • The 2022 F1 season features a record-breaking 23 races, featuring the arrival of Miami and the return of the Australian, Canadian, Singapore and Japanese Grands Prix
  • In terms of how F1 qualifying works, all drivers must participate in at least one of the three practice sessions to qualify for the race
  • The qualifying session determines the drivers' starting positions, from 1 to 20. It's divided into three rounds: Q1, Q2 and Q3
  • In Q1, the slowest five out of all 20 cars take positions 16-20 in the race. For Q2, 15 cars compete and the slowest five determine positions 11-15. Finally, Q3 involves 10 cars competing for pole position, with the fastest lap claiming the top spot
  • Shortly before the race starts, there's a 'formation lap' in order for the cars and tyres to warm up. Cars must move in grid order without overtaking
  • Once all cars have returned to their starting grid positions, five red lights appear on the start board at one-second intervals. When these red lights go out, the race commences
  • The race ends when the predetermined number of laps is completed by the drivers, with whoever finishing first winning. As circuit lengths vary, different races have a different number of laps
  • 2022 has seen a massive overhaul of F1 technical rules. Some of the most revolutionary changes include the adoption of 18-inch wheel rims (replacing the old 13-inch rubber) and reintroduction of wheel covers; the return of ground effect aerodynamics; new power unit freeze; a longer nose to withstand higher forces in a frontal impact; new sustainable E10 fuel, and more
F1 calendar 2022
F1 teams & drivers 2022

Top F1 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
    Michael Schumacher
    7 times
  • Lewis
    Lewis Hamilton
    7 times
  • Juan Manuel
    Juan Manuel Fangio
    5 times
  • Alain
    Alain Prost
    4 times
  • Sebastian
    Sebastian Vettel
    4 times
  • Jack
    Jack Brabham
    3 times
  • Jackie
    Jackie Stewart
    3 times
  • Niki
    Niki Lauda
    3 times
  • Nelson
    Nelson Piquet
    3 times
  • Ayrton
    Ayrton Senna
    3 times

Top F1 teams (Constructors' 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
    16 times
  • Williams
    9 times
  • McLaren
    8 times
  • Mercedes
    8 times
  • Lotus
    7 times
  • Red Bull
    4 times
  • Cooper
    2 times
  • Brabham
    2 times
  • Renault
    2 times
  • Vanwall
    1 time
  • BRM
    1 time
  • Matra
    1 time
  • Tyrrell
    1 time
  • Benetton
    1 time
  • Brawn
    1 time

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, it'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 and claim bonuses and place all the odds available on the desktop version.

Mobile Betting

Formula 1 betting 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 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 F1 races
  • 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

How we review F1 betting sites

  • 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

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

  • Licenses

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

  • Markets

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


How many F1 races are in the season?

Since the first F1 season in 1950, there have been between seven and 21 races. The year 2020 saw a slight dip in races with 17, due to the Covid-19 pandemic, but 2021 saw a new record of 22. Meanwhile, the 2022 F1 calendar has a planned 23 races.

What changes have been made to cars in 2022?
How can I watch the F1 in Canada?
What are the most popular Formula 1 bets?
What are F1 betting lines?
Can I make an F1 accumulator bet?
Is Formula 1 betting legal in Canada?

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