To cut it short, the best NBA betting sites are DraftKings, Caesars, and BetMGM. DraftKings is known for its fast payout features, Caesars Sportsbook for its great promos and offers, and BetMGM for its diversity of markets, which makes them the best sites, apps and sportsbooks for F1 betting currently in the US.
The best F1 betting sites have so much offer customers in what is the fastest sport in the world.
Take a read of expert guide to the six top F1 betting sites and find out which sports is best for your needs...
Through analyzing all the legal sportsbooks and sites on market, we’ve used our knowledge and expertise to compile a list of the best F1 sites and sportsbooks in the US and review them using seven key criteria:
Customer support
Deposits and payouts
Usability
Mobile betting
Bonuses and promos
Live play
Best F1 betting sites US - Our recommendations
Name | Score | Play Now | Welcome Bonus | Payment Methods | Sports | Payout Speed | Disclaimer | |
---|---|---|---|---|---|---|---|---|
![]() | 9.8 | Claim OfferDraftKings.com | Bet $5 Get $150 in Bonus Bets Instantly! | Cash, Venmo, PayPal, Apple Pay, Play+, ACH Transfer, Visa, Mastercard | 25+ | Hours - 5 Days | Gambling problem? Call or TEXT 1-800-GAMBLER. Must be 21+ and present in CO. T&C Apply. | |
![]() | 9.8 | Claim OfferCaesars.com | Get Your First Bet Back If It Loses - up to $1,000 | Cash, Venmo, PayPal, PayNearMe, Play+, ACH Transfer, Visa, Mastercard | Hours - 5 Days | Must be 21 or older to gamble. Know When To Stop Before You Start.® Gambling Problem? If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER (1-800-426-2537). | ||
9.8 | Claim OfferBetMGM.com | Bet $5 Get $158 in Bonus Bets | Cash, Venmo, PayPal, Bank Transfer, Apple Pay, Play+ | 20+ | 3-8 Days | Gambling problem? Call or TEXT 1-800-GAMBLER. Must be 21+ and present in the state you're wagering in. T&C Apply. | ||
![]() | 9.6 | Claim OfferFanDuel.com | Bet $5 Get $200 In Bonus Bets If Your Bet Wins | Cash, Venmo, PayPal, Apple Pay, ACH Transfer, Visa, Mastercard | 18+ | Hours - 5 Days | Gambling Problem? Call 1-800-GAMBLER. Hope is here. Gamblinghelplinema.org or call (800)-327-5050 for 24/7 support (MA). Call 1-877-8HOPE-NY or Text HOPENY (467369) (NY). | |
![]() | 9.2 | Claim Offerbet365.com | Bet $5 Get $150 | Skrill, PayPal, Paysafecard, PayNearMe, Visa, Mastercard | 20+ | Hours - 5 Days | Gambling problem? Call or TEXT 1-800-GAMBLER. Must be 21+ and present in CO. T&C Apply. | |
8.6 | Claim OfferBetway.com | Up to $250 Back In Bonus Bets If Your First Bet Loses | PayPal, PayNearMe, Play+, ACH Transfer, Visa, Mastercard | 16+ | Up to 7 Days | Gambling Problem? Call 1-800-GAMBLER. Hope is here. Gamblinghelplinema.org or call (800)-327-5050 for 24/7 support (MA). Call 1-877-8HOPE-NY or Text HOPENY (467369) (NY). |
Best F1 betting sites of 2024 compared
Betting site | Top feature | No of sports | Payout speed | Sporting Post rating |
---|---|---|---|---|
DraftKings Sportsbook | Best F1 betting app | 25+ | 1 day | 5/5 |
Caesars | Best F1 betting site for customer support | 18+ | 1 day | 5/5 |
BetMGM Sportsbook | Overall best F1 betting site | 20 | 1-2 days | 5/5 |
FanDuel | Best F1 betting bonus site | 19 | 1-5 days | 4/5 |
Betway | Best fast payout F1 betting site | 20+ | 1-5 days | 4/5 |
Fanatics | Best new F1 betting site | 30+ | 3 days | 3/5 |
Online F1 betting sites reviewed
Below, you can read the reviews of the best online sportsbooks for F1 betting and learn what each of them has to offer. Keep reading to discover standout features, benefits and drawbacks, and our expert take on these bookies.
![BetMGM Sportsbook](https://cdn.sportingpost.com/tr:f-auto,w-90,h-90,fo-auto/uploads/2023/02/1676570445-le7er7a13C0EKD12RQ7.png)
1. BetMGM - Overall best F1 betting site
![](https://cdn.sportingpost.com/tr:f-auto,w-367,c-at_max/uploads/2023/07/1688745636-bet%20MGM.jpg)
BetMGM is a well-established sportsbook that operates in 25 US states, and in Washington D.C. as well. The sportsbook awards new players with a generous welcome bonus if they miss out on their first bet and accepts a variety of banking methods. The selection of sports is quite extensive and Formula 1 is featured in a separate category. All these features make BetMGM our top pick for F1 betting.
In the Formula 1 section, bettors can choose between two categories: Events and Futures; choose to bet on the race winner or place a Head-to-Head bet. There is also a variety of other bets such as which team will win the race and will both team drivers finish in the top 3.
BetMGM overview
Year founded | 2018 |
---|---|
Banking options | Visa, Mastercard, Discover, American Express, PayPal, Apple Pay, Online Banking, VIP Preferred, PayNearMe, Play+, Bank Wire, Venmo, BetMGM Gift Card |
Languages | English |
License | New Jersey Division of Gaming Enforcement, Pennsylvania Gaming Control Board, Illinois Gaming Board, + 22 others |
Sports Available | Formula 1, Football, Basketball, Baseball, Tennis, Golf, Hockey, MMA, + 15 others |
Bonuses | Up to $1,000 in Bonus Bets, if first bet loses; Refer a Friend Bonus |
Mobile app | Android & iOS |
Restricted states | 25 |
Allowed states | AZ, CO, FL, IL, IN, IA, KS, LA, MD, MA, MI, MS, NV, NJ, NY, OH, OR, PA, SD, PR, TN, VA, WA, Washington D.C., WV, WY |
Key rating criteria
Customer support: 4/5
Deposits + payouts: 4/5
Usability: 4/5
Mobile betting: 5/5
Bonuses + promos: 4/5
Live play: 4/5
What we like and dislike about BetMGM
- A well-established, reputable provider
- A large variety of accepted payment methods
- Extremely functional mobile apps
- Multiple F1 betting options
- No player/driver stats
- Slower response from customer support
2. Fanatics Sportsbook - Best new F1 betting site
![](https://cdn.sportingpost.com/tr:f-auto,w-367,c-at_max/uploads/2024/01/1706619322-Fanatics%20One.png)
When it comes to brand new F1 betting sites, it doesn't get much newer than Fanatics Sportsbook. This exciting newcomer promises huge market coverage and competitive odds. Its already launched in several states and has plans to reach 12 in total.
Its generous welcome bonus asks you to bet $50 to receive $200 in free bets, which can be used on the F1. There's also an interesting rewards program where you can earn FanCash for placing wagers. Every straight bet gets you 1% back, 3% on parlays and 5% on same game parlays, whether you win or not. Plus, to get their slick mobile app off the ground, they're offering $100 for every friend you refer.
While this app is definitely a very new one, the company has been trusted in the industry since starting as a sports merchandise company in 1995. So, we expect their betting app offering to only get better with time.
Fanatics overview
Year founded | 2023 |
---|---|
Banking options | PayPal, Online Bank Transfer, Apple Pay |
Languages | English |
License | New Jersey Division of Gaming Enforcement, Michigan Gaming Control Board, Virginia Lottery, West Virginia Lottery |
Sports Available | Motor Sports, Baseball, Basketball, Football, Soccer, Tennis, + 6 others |
Bonuses | Bet $50, get $200 |
Mobile app | Android & iOS |
Restricted states | 39 |
Allowed states | CO, CT, KY, MA, MD, OH, PA, TN, VA, VT, and WV |
Key rating criteria
Customer support: 5/5
Deposits + payouts: 4/5
Usability: 5/5
Mobile betting: 5/5
Bonuses + promos: 4/5
Live play: 4/5
What we like and dislike about Fanatics
![DraftKings Sportsbook](https://cdn.sportingpost.com/tr:f-auto,w-90,h-90,fo-auto/uploads/2023/02/1676569465-le7e674u643C6IPML0Y.png)
3. DraftKings - Best app for F1 betting
![](https://cdn.sportingpost.com/tr:f-auto,w-367,c-at_max/uploads/2023/07/1688745879-Draft%20kings.jpg)
DraftKings is one of the oldest sportsbooks operating in the US, currently operating in 21 states via both the website and the mobile app. It offers a variety of betting options, including F1 and other motorsports, but it really stands out with the quality of the betting apps. Developed for both Android and iOS devices, the DraftKings apps work exceptionally well and offer the full scope of betting opportunities.
The F1 betting options are found in a separate category — Motorsports. Here, in addition to Formula 1, users can bet on NASCAR, Moto GP, and other competitions. However, those that want to bet on F1, can place wagers on their favorite driver to win the event, top 3 finishers, and more. DraftKings sportsbook is known globally for its exceptional offerings in F1 betting.
DraftKings overview
Year founded | 2012 |
---|---|
Banking options | Credit and debit cards, Online Banking, VIP Preferred, PayPal, Cash @ Cage, Venmo, Wire Transfer, DraftKings Gift Card |
Languages | English |
License | Pennsylvania Gaming Control Board, Massachusetts Gaming Commission, Kansas Racing and Gaming Commission, + 18 others |
Sports Available | Motorsports, Football, Cricket, Boxing, Football, Hockey, + 18 others |
Bonuses | $150 in Bonus Bets |
Mobile app | Android & iOS |
Restricted states | 29 |
Allowed states | AZ, CO, CT, IL, IN, IA, KS, LA, MD, MA, MI, NH, NJ, NY, OH, OR, PA, TN, VA, WV, WY |
Key rating criteria
Customer support: 4/5
Deposits + payouts: 4/5
Usability: 4/5
Mobile betting: 5/5
Bonuses + promos: 4/5
Live play: 4/5
What we like and dislike about DraftKings
- Long-standing, reputable sportsbook
- Large offer of sports and betting markets
- 24/7 support both through the website & the app
- High-quality Android & iOS apps
- Limited betting options for F1
- High wagering requirements on bonuses
4. Betway - Best for fast payouts
![](https://cdn.sportingpost.com/tr:f-auto,w-367,c-at_max/uploads/2023/07/1688745963-Betway%207.jpg)
Betway is an international sportsbook that is also available in 8 US states. It collaborates with reputable payment providers and processes transactions quickly. Deposits are near-instant, while withdrawals can be completed in as little as 2 hours. However, some payment methods, such as a wire transfer, can take up to 3 business days to complete, which is still a lot faster than the competition.
There are a variety of sports and betting markets featured on the Betway site and F1 betting can be found under Motor Racing. Bettors can place wagers on Futures in upcoming F1 events at competitive odds and they can bet on the driver they believe is most likely to win the race.
Betway overview
Year founded | 2006 |
---|---|
Banking options | Visa, MasterCard, Discover, PayPal, Venmo, Skrill, Play+, PayWithMyBank, PayNearMe |
Languages | English, Bulgarian, Danish, Finnish, + 7 others |
License | New Jersey Division of Gaming Enforcement, Arizona Department of Gaming, Colorado Division of Gaming, + 5 others |
Sports Available | Motor Racing, Basketball, Volleyball, Table Tennis, Lacrosse, E-Sports, + 15 others |
Bonuses | $250 Bonus Bet with First Wager; Get $10 with a $25 Parlay Bet |
Mobile app | Android and iOS |
Restricted states | 42 |
Allowed states | AZ, CO, IA, IN, NJ, OH, PA, VA |
Key rating criteria
Customer support: 3/5
Deposits + payouts: 4/5
Usability: 4/5
Mobile betting: 4/5
Bonuses + promos: 3/5
Live play: 4/5
What we like and dislike about Betway
- Reputable and safe betting platform
- Many Live Streaming options
- Cash Out option
- Fast and secure payments
- Certain features aren’t available in the mobile app
- Somewhat cluttered interface
![FanDuel Sportsbook](https://cdn.sportingpost.com/tr:f-auto,w-90,h-90,fo-auto/uploads/2023/02/1676568719-le7dq73i3JRBONCYLWJ.png)
5. FanDuel - Best F1 betting bonus site
![](https://cdn.sportingpost.com/tr:f-auto,w-367,c-at_max/uploads/2023/07/1688746098-Fan%20du7.jpg)
FanDuel is renowned for its fantasy sports betting, but the sportsbook shouldn’t be overlooked either. With a wide variety of betting options and many bet types, sports enthusiasts will certainly find something they enjoy. However, one of the attractive features of FanDuel is the welcome bonus — $2,500 in Bonus Bets if the first bet loses. The sum may vary by state, but it’s by far the most generous sports betting bonus.
The F1 betting options can be found under Motorsports, where FanDuel users can place outright bets, or head over to the F1 Race Props categories, where they can place a prop bet on the team of the winning driver.
FanDuel overview
Year founded | 2009 |
---|---|
Banking options | Visa, MasterCard, PayPal, Online Banking, PayNearMe, Wire Transfer, Cash @ Casino, FanDuel prepaid card |
Languages | English |
License | New Jersey Division of Gaming Enforcement, Tennessee Sports Wagering Council, Indiana gaming Commission, + 14 others |
Sports Available | Motorsports, Aussie Rules, Cycling, Darts, Golf, Football, + 13 others |
Bonuses | Up to $2,500 No Sweat First Bet; Daily Odds Boost |
Mobile app | Android & iOS |
Restricted states | 23 |
Allowed states | AZ, CO, CT, TN, IL, IN, IA, LA, NJ, VA, WV, NY, PA, WY, MI, OH, MD |
Key rating criteria
Customer support: 4/5
Deposits + payouts: 4/5
Usability: 4/5
Mobile betting: 4/5
Bonuses + promos: 4/5
Live play: 3/5
What we like and dislike about FanDuel
- User-friendly interface
- Many different bet types offered
- Live betting odds are updated automatically
- Substantial welcome bonus
- Some geolocation issues
- Inconsistency in Live Chat responses
![Caesars Sportsbook](https://cdn.sportingpost.com/tr:f-auto,w-90,h-90,fo-auto/uploads/2023/02/1676570206-le7em2te21WW326QDEM.png)
6. Caesars Sportsbook - Best betting site for customer support
![](https://cdn.sportingpost.com/tr:f-auto,w-367,c-at_max/uploads/2023/07/1688746184-Caesar%207.jpg)
The name Caesars is usually associated with some of the largest casinos in the US — both online and land-based. However, the Caesars Sportsbook is just as well-stocked and full of opportunities as the casino. The Caesars Sportsbook is also available via the Android and iOS apps and customer support is available 24/7 via Live Chat. Registered users can also get in touch with the support team via email and in some states, by phone.
At Caesars Sportsbooks, bettors will find Futures odds for upcoming F1 events, so they can place bets on the driver they predict will win the race. The betting odds are quite competitive, and Caesars also offers resources that can guide bettors through the wagering process.
Caesars Sportsbook overview
Year founded | 1996 |
---|---|
Banking options | Visa, MasterCard, Discover, VIP Preferred, Online Banking, PayPal, PayNearMe, Play+ |
Languages | English |
License | Ohio Casino Control Commission, Kansas Racing and Gaming Commission, Maryland State Lottery & Gaming Control Agency, + 16 others |
Sports Available | F1, football, basketball, soccer, boxing, MMA, + 7 others |
Bonuses | Up to $1,250 in Bonus Bets if First Bet Loses |
Mobile app | Android & iOS |
Restricted states | 22 |
Allowed states | AZ, CO, IL, IN, IA, KS, LA, MD, MI, NV, NJ, NY, OH, PA, TN, VA, WV, WY, and Washington D.C. |
Key rating criteria
Customer support: 4/5
Deposits + payouts: 4/5
Usability: 4/5
Mobile betting: 4/5
Bonuses + promos: 4/5
Live play: 4/5
What we like and dislike about Caesars Sportsbook
- Functional website & apps
- Substantial Welcome Offer
- Competitive odds
- Responsive 24/7 customer support
- Lack of promotional offers
- More limited sports selection
How review the top F1 betting sites
When reviewing F1 betting sites, we consider several important criteria to ensure that bettors have an overall pleasant experience. The following list illustrates the main points of consideration in the review process.
Licensing — the featured platforms are licensed in all the states they’re operating in; this ensures that the sprots betting sites operate in compliance with states’ betting laws and regulations.
Security — the F1 bettings sites we recommend implement security protocols such as SSL encryption to ensure data safety and collaborate with reputable payment providers that guarantee financial security.
Selection of sports — in addition to F1, all of these sites offer other sports as well. We pick websites that have a large and varied sports offer.
Bonus offers & promotions — sports bettors can benefit greatly from bonuses and promotions, so we always look for sites that award a sports bonus and have other promotions, particularly for sports.
User experience — we seek out platforms that have an easy-to-navigate interface and enable visitors to browse and place bets seamlessly.
Customer support — whenever an issue arises, customer service plays a key role. So, the recommended platforms always offer 24/7 support, usually via Live Chat.
Transaction speed — we always look for platforms that process deposits instantly and complete withdrawals fairly quickly. However, the withdrawal time may vary depending on the payment method and on when the request was submitted.
Gambling restrictions — in US states where sports betting is legal, it becomes available to anyone of legal age. We don’t like to see any other restrictions other than this, so we vet the platforms before recommending them.
Additional features — one of our priorities is to recommend F1 sportsbooks that offer some extra features such as Live streaming & betting, early Cash Outs, or the ability to create your own bets.
How we test
Here at Sporting Post, we are committed to providing user-centric testing and evaluations within our work.
Our ratings guides are created and independently verified using real humans and sophisticated data systems, which bring you accurate and honest information, helping you choose the right online sportsbook.
Every site, sportsbook and app is downloaded and signed up to by our dedicated team of contributors, who engage in the features firsthand and report back their findings within our review pieces.
Alongside this, our data systems are constantly searching for the latest bets, leading odds and exclusive promos on offer, so you’re always getting the best deals.
By doing this, we provide you with detailed reviews that guide you through the world of F1 betting with clarity.
Latest F1 betting bonuses compared 2024
F1 Betting Site | Bonus | Get Started |
---|---|---|
BetMGM | Up to $1,000 in Bonus Bets if the First Bet Loses | |
Fanatics | Bet $50 to get $200 in bonus bets | |
DraftKings | Deposit Bonus up to $1,000 | |
Betway | $250 Bonus Bet with First Wager | |
FanDuel | $2,500 No Sweat First Bet | |
Caesars Sportsbook | Up to $1,250 in Bonus Bets if First Bet Loses |
What is F1 betting?
F1 betting, or betting on Formula 1, is the process of placing a bet on the outcome of F1 events. Depending on the betting site, bettors can choose to wager on which driver will win the race, which team will win, or who will appear on the podium in the end.
The F1 races are a good betting choice because they are straightforward and bettors get to see the outcome of their bets as soon as the race ends. Betting on F1 is quite popular in the US and all the major sportsbooks include it in their selection, so you won’t have trouble finding a platform to bet on Formula 1.
What kind of bets can you place on F1?
F1 bets are quite straightforward. They include:
Moneyline on the driver — wager on which driver will win the race
Moneyline on the team — bet on a team to win the race
Combined bet — bet on the 3 drivers that will end in the top 3 positions
Parlay — bet on both a driver and a team to win the race in a single bet
Live bets — some betting sites allow you to place bets during the race
Even though it seems like the betting options are limited, F1 bets are a great choice when you want to place a simple bet, without too many combinations, just like prop bets.
Are F1 betting sites licensed & regulated in the US?
All these sites for betting on F1 are not just that. They’re complete sportsbooks offering various sports and bet types. To operate in the US, a sportsbook has to be licensed - more specifically, it must be licensed in each of the states where it’s offering its services. And while we can’t guarantee for all F1 betting apps and sites, the ones we’ve recommended are licensed and regulated by their respective state of operation.
Are F1 betting sites legit?
F1 sportsbooks can legally offer betting on F1 events in all US states where sports betting is legal as long as they have a valid license issued by the regulatory body in the state they operate. But for a platform to be legitimate, it needs to meet some other requirements. So, the F1 betting sites on this list implement various security protocols, collaborate with secure payment methods, and have land-based partners that offer retail betting. In short, all our recommendations are legitimate F1 betting sites.
Top F1 events to bet on
Formula 1 organizes more than 20 events every year, so you may have difficulty choosing which event to bet on. Below, we’ve listed the most popular F1 events you should consider betting on.
Monaco Grand Prix
Italian Grand Prix
Miami Grand Prix
Bahrain Grand Prix
Las Vegas Grand Prix
These five events take place every year and they’re some of the best-organized F1 races, so betting on them is always a reliable choice.
F1 betting bonuses & promo codes
The best F1 bookmakers supplement their sports offers with various bonuses and promotional offers. However, bonus offers are always accompanied by restrictions and requirements, so before you claim an offer, it’s a good idea to be familiar with all the conditions.
Codes
Most US sportsbooks require a promo/bonus code from users who want to claim the offer. Luckily, these codes are readily available on the official website, but it’s important to remember that you’ll need to enter the bonus code during the registration process. So, before you sign up for an F1 betting site, look for the bonus code and apply it when creating your account.
Wagering requirements
Most bonus offers have wagering requirements. Bettors are usually required to either place the entirety of the bonus as a single bet at specific odds or place several bets with the bonus funds, also at certain odds. If the bettor doesn’t respect this requirement, the wager won’t count towards fulfilling the requirements and the bonus funds might fall through.
Time limits
Promotions and bonuses are time-sensitive, meaning they have to be used within a certain timeframe. Usually, the bonuses are valid for a week or two after being claimed. So, the bettor will have to fulfill the wagering requirement before this period expires or the bonus becomes void.
Terms & conditions
Just like F1 sportsbooks have a Terms and Conditions policy for using the website, they also have T&Cs for using the bonus. Before claiming a bonus, you should always read through these, so you’ll know what to expect. In most cases, the T&Cs stipulate that the bettor can’t keep the bonus funds after they’ve wagered them — they only get to keep any potential winnings. So, reading the T&Cs is essential for anyone who plans on claiming a bonus.
Why bet on F1?
How to sign up
Once you’ve realized that F1 provides ample betting opportunities, you’ll need to sign up for a betting site and try it out for yourself. To illustrate the registration process, we’ve described the sign-up for the best F1 bookmaker on our list — BetMGM.
Step 1: Find & open the F1 betting site
Open the official BetMGM website for your state or follow the link we’ve provided.
![](https://cdn.sportingpost.com/tr:f-auto,w-367,c-at_max/uploads/2023/07/1688747274-1S1%2077.jpg)
Step 2: Locate the Sign-Up button
Click the Register button at the top right corner of the homepage.
![](https://cdn.sportingpost.com/tr:f-auto,w-367,c-at_max/uploads/2023/07/1688747325-1S2%2077.jpg)
Step 3: Provide basic information
Enter your email address and create a password. Alternatively, register with PayPal or Yahoo!Sports.
![](https://cdn.sportingpost.com/tr:f-auto,w-367,c-at_max/uploads/2023/07/1688747373-1S3%2077.jpg)
Step 4: Provide personal information
Enter your first and last name, the last four digits of your Social Security Number, and your date of birth.
![](https://cdn.sportingpost.com/tr:f-auto,w-367,c-at_max/uploads/2023/07/1688747430-1S4%2077.jpg)
Step 5: Provide additional information
Provide your address, and phone number, and enter a bonus code — if you have one. Confirm that you are over 21 and agree to the Terms and Conditions.
![](https://cdn.sportingpost.com/tr:f-auto,w-367,c-at_max/uploads/2023/07/1688747465-1S5%2077.jpg)
Step 6: Finish the registration process
Click the Create My Account button to conclude the registration process and start placing F1 bets at BetMGM.
![](https://cdn.sportingpost.com/tr:f-auto,w-367,c-at_max/uploads/2023/07/1688747499-1%20S%206.jpg)
How to deposit money
After you’ve registered at BetMGM and before you claim a bonus or place your first bet, you’ll need to make a deposit. The depositing process is simple — you just need to follow these steps:
Head to the F1 betting site and click deposit
Click the Deposit button in the top right corner of the page. You'll be taken to a list of deposit options.
Choose your deposit method
Choose a deposit method from the list of available options.
Enter your deposit amount
Enter the amount you want to deposit — the minimum at BetMGM is $10. Remember, you might need to deposit more than the minimum amount to qualify for a bonus.
Enter your payment information
Provide the required information for the payment method you’ve chosen. Review the transaction details and confirm the deposit.
Get ready to bet
Wait for the deposit to appear in your account balance and place a bet.
How to withdraw winnings
When you’re betting on F1 — or any other sport for that matter — at BetMGM, there’ll come a time when you will have accumulated some winnings. The next step is to withdraw your winnings — the process goes as follows:
Head to your favorite F1 betting site
Log into your account and navigate to the Cashier section. Here you'll see a list of withdrawal method options.
Choose your payment method
Select Withdraw and click on the withdrawal method you want to use. Remember, payout times vary between providers.
Enter your withdrawal amount
Enter the amount you want to withdraw — the minimum at BetMGM is $20. Usually withdrawals over $1,000 take a little longer to process.
Provide your payment details
Provide any additional details for the payment method you’re using to withdraw. Review the withdrawal and confirm the transaction.
Wait to receive your funds
Await confirmation that your withdrawal request is processed. After this, there'll be a short wait before the winnings appear in your account.
F1 betting deposits
Banking is one of the most important aspects of using an F1 betting site. The table below illustrates minimum limits for deposits and withdrawals, but also, it shows estimates of both the deposit and withdrawal time.
Provider | Minimum Deposit | Deposit Time | Minimum Withdrawal |
---|---|---|---|
BetMGM | $10 | 0-30 minutes | $20 |
Fanatics | $5 | 0-30 minutes | $10 |
DraftKings | $5 | Up to 3 days | $15 |
Betway | $10 | Instant | $10 |
FanDuel | $10 | Instant | $25 |
Caesars Sportsbook | $20 | Instant | $20 |
Choosing the best F1 betting site 2024
When you set about choosing a betting site for your F1 betting endeavors, there are a few things worth your consideration. The following sections highlight these considerations and explain why each is important.
Restricted states
The most important thing about each sportsbook is whether it’s legal in the state where you’re residing. If it’s not legal, look for alternative options, i.e. sportsbooks that are legally operating in that particular state. There’s always the possibility of using a VPN to change your location, although we would advise against it, as that goes against sportsbook regulations.
Safety, reliability and reputation
Good betting sites are preceded by their reputations. Look for sites that have been operating on the US market for a few years, but also look for licensing. An online bookmaker has to be licensed by the responsible government regulatory body in the state/s where it’s operating. Other indicators of safety are SSL encryption and 24/7 customer support.
Payout & withdrawal speed & terms
Payment and payout speed is another key factor. With most F1 bookmakers, deposits are instant or take up to 30 minutes in extreme cases. Withdrawals take longer, considering that they have to be approved first. Each sportsbook has a different processing time and the optimal range is between 24 and 72 hours, but the total payout time will also depend on the chosen payment method.
Deposit options
Other than the instant deposit time, the variety of deposit options is also a deciding factor when choosing a site. Renowned betting operators accept different types of payment methods, including credit and debit cards, e-wallets, online banking methods, and prepaid cards. When it comes to depositing options - the more, the better.
F1 betting selection
The F1 betting options at online sportsbooks are featured either in a separate category or under Motor Racing. Here, any ongoing or upcoming Grand Prix should be featured, with options to place moneyline bets on the winner (driver or team) or combine more bets into a parlay. The possibility to bet Live on the Grand Prix is always a welcome addition, so look for sites that offer this as well.
F1 betting bonuses and promotions
The F1 bonuses are usually general sports bonuses that can be used for betting on F1 events. The most common offer is the Welcome Offer; to qualify for this, bettors need to make at least one deposit and one wager and fulfill the offer’s wagering requirement. Most sportsbooks require a bonus code for claiming these offers.
Cost & fees
Some F1 betting sites may charge fees for using the platform and for depositing and withdrawing. However, the sportsbooks we’ve recommended don’t charge any fees, so bettors get to wager with the full amount they deposit and withdraw the entirety of their winnings — the sites don’t charge anything.
User experience & mobile compatibility
The website interface should be easy to navigate and the process of placing bets simple, making the experience as user-friendly as possible. Another important aspect is mobile optimization — the website should be optimized for use on mobile devices and a dedicated mobile app is an added bonus, especially if there’s one for both Android and iOS.
Cashier policy and T&Cs
Each sportsbook has its own Cashier policy and a Terms and Conditions policy. These may vary significantly from one F1 betting site to another, so before you sign up for an account and agree to these policies, read through them and see whether the platform’s requirements align with your expectations.
Sites to avoid
Not all betting sites that accept F1 bets are good choices; there are some platforms that, for a variety of reasons, need to be avoided.
Topbet: not licensed, long withdrawal periods
AmericasBookie: not licensed, negative user reviews
How to gamble responsibly
Before we end this article, we need to caution you to always bet responsibly. To ensure you’re being cautious, betting sites implement various Responsible Gambling practices that will help you keep your betting habits in check.
Limits: sportsbooks allow you to set betting limits, i.e. limit how much you can bet in a day, a week, or a month.
Cashouts: you can withdraw your winnings quite easily from any betting site. This prevents you from spending all of your winnings. There’s also the option for early cashout, so you can still get paid if the bet is starting to go sideways.
Help & resources: betting sites provide access to resources for problem gamblers and point them to organizations that can help with gambling addiction.
Responsible Gambling Organizations and Charities in the US
Organization | Contact details |
---|---|
Live chat: https://oasas.ny.gov, Freephone 24-7 Helpline: 1-877-8-HOPENY(467369) | |
Email: ncpg@ncpgambling.org, Phone: 1-800-522-4700 | |
Email: support@gamblingtherapy.org, Phone: 020 7381 7722 | |
Email: info@vcpg.net, Phone: 1-888-532-3500 |