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Best F1 Betting Sites Canada

Formula 1 has always been a massively popular sport worldwide, and Canada is no exception. Who doesn’t like watching races with the world’s fastest cars and some of the best drivers in history? Who doesn’t like seeing Lewis Hamilton or Max Verstappen driving? That’s precisely what Formula 1 is and why we all love it. If you love the sport, then you’re bound to like Formula 1 betting as well.

In this piece, we wanted to give you a detailed list of the very best Formula 1 betting sites every Canadian player can use. If this is something you need, the toplist we have prepared we’ll be of great benefit to you, and so will everything else we’ll cover here. We’ll explain what you can expect from these sites, the events you can bet on, the betting markets available, and so much more.

By the time you’ve read our guide, you’ll have all the knowledge you need on where to place bets on Formula 1. So, keep reading to learn it all, but first, make sure you check our toplist. We’ve made sure to review all the available F1 betting sites for Canadian players. Then we made sure to include only the very best on our list. Have a look!

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Main Events in Formula 1

If you want to place Formula 1 bets, you need to know about all the main events in F1, the World Championships, and each individual Grand Prix. To learn all of that, we must start from the beginning, so you know exactly which events you’ll get to bet on.

F1 betting

Formula 1 started way back in the 1920s and 1930s in Europe from many similar racing events and competitions. It took a while for everyone involved to agree to a standard format. That’s why the first Formula 1 World Drivers’ championship was organized and held in 1950. Additional non-championship races were held at first, but this practice was terminated in the 1980s due to costs.

Today, there is a series of F1 races that are conducted during a single Formula One World Championship season, and every F1 race within the season is called a Grand Prix. Every season is different, and there is no standard number of races held per season, as it has tended to increase over the years as the popularity of the sport grew and more teams and drivers wanted to participate. What’s more, the locations of races change as well, and many countries worldwide have hosted races in the past.

There have usually been 19 or 22 Grand Prix races every F1 season in the past few years. Here are all the Grand Prix races you need to know about if you’re going to start with F1 sports betting:

  • Austrian Grand Prix
  • Hungarian Grand Prix
  • British Grand Prix
  • Spanish Grand Prix
  • Belgian Grand Prix
  • Italian Grand Prix
  • Russian Grand Prix
  • Bahrain Grand Prix
  • Abu Dhabi Grand Prix
  • Australian Grand Prix
  • Chinese Grand Prix
  • Monaco Grand Prix
  • Canadian Grand Prix
  • French Grand Prix
  • Singapore Grand Prix
  • Japanese Grand Prix
  • United States Grand Prix
  • Brazilian Grand Prix

All of these Grand Prix races and more are hosted throughout the year, so you will often have something to bet on. If there are no races at the moment, you can always bet on Nascar. Although it is quite different from F1 racing, Nascar is a great alternative for bettors who enjoy racing. Also, remember that every Grand Prix takes place on a Sunday, so if you’re interested in live betting, that’s the perfect time to be online on your favourite sports betting site.

When all the races are over, the results are combined, and two prizes are awarded, the Drivers’ Championship Award and the Constructors’ Championship Award. The former is presented to the winning driver, and the latter to the winning F1 team. Naturally, you can place bets on who will win either of the championships on most Formula 1 sports betting sites.

If you’re going to place these bets, it’s important to know the best drivers and constructors. The best drivers at the moment are:

  • Lewis Hamilton
  • Max Verstappen
  • Charles Leclerc
  • Valtteri Bottas
  • Carlos Sainz
  • Alex Albon
  • Sebastian Vettel
  • Sergio Perez
  • Lando Norris
  • Daniel Ricciardo

As for the constructors, some of the most successful teams include:

  • Ferrari
  • McLaren
  • Williams
  • Mercedes
  • Red Bull
  • Renault

F1 Betting Platforms and Techniques

As you can expect, there are many types of sports betting platforms out there, and betting on Formula 1 is an option on most of them. Naturally, it would be best if you only stuck to the best ones. That’s precisely why we need to cover each betting platform type briefly and what you need to know about it.

What’s more, remember that each platform has its own bonuses and promotions. So, if you’re interested in a good deposit bonus or other bonus offers, you need to take this into account before you join any site. But as long as the bonuses cover sports betting, you’ll be fine with any bonus you choose.

All in all, you can place Formula 1 bets on betting exchanges, online sportsbooks, and sports trading sites. Additionally, you can use specific techniques, including spread betting and matched betting, and we’ll cover these two after we describe the platforms.

Betting Exchanges

Betting exchanges are made for player vs. player sports betting. These betting sites are effectively brokers in the world of sports betting, which allows them to offer better odds. A bettor is not betting against the platform itself, but against another player, so the platform doesn’t stand to lose anything on the bet, the way that standard betting sites do. Due to this, the odds are often much better than on other sites.

Formula 1 Sportsbooks

The most standard form of a betting site is a sportsbook, and most online betting platforms you’ll run into will be online sportsbooks. A sportsbook is effectively the same thing as a traditional bookmaker, with the only difference being that all the betting is done online. However, as sportsbooks are the most popular type of betting platform, it will be easy to run into a terrible betting site. That’s why you should pick a sportsbook from our toplist and avoid having little to no good betting markets or wasting real money on bad odds.

Formula 1 Sports Trading Sites

Unlike sportsbooks and betting exchanges, sports trading sites are perfect for more advanced bettors. If you know a lot about Formula 1 betting and enough about how the stock market works, then a sports trading site is the perfect betting platform for you.

A sports trading site will not only allow you to place a bet on Formula 1 races but also sell your position before the race ends. This is precisely what makes it similar to stocks, as you get to invest in a bet and then sell it later on, or in other words, you get to trade bets. Naturally, this is perfect for seasoned players, as we already said, but it can be a nice challenge for those willing to learn. Whatever the case may be with you, you should check Betopin’s guide on sports trading and sports trading sites to learn more before starting.

Spread Betting in Formula 1

Spread betting is an exciting and flexible form of betting for anyone interested in Formula 1. Instead of just betting on teams and drivers, with spread betting, you get the chance to bet on the point spread between drivers or teams on the overall scoreboard. It’s perfect for Formula 1 betting as the teams and drivers win the championship by accumulating points from races.

Matched Betting in Formula 1

Matched betting is a betting technique used by players who want to win real money using free bets and other incentives betting platforms offer. It’s also called back bet matching, double betting, or lay bet matching. It’s virtually risk-free and thus perfect for bettors interested in winning nice sums of real money without spending and risking much.

Naturally, the effectiveness and availability of Formula 1 matched betting depend on the bonuses and promotions you can find. We’ve made sure to include many sports betting sites on our list that have some of the best bonus offers, so that part is covered. What’s left for you to do is to then place bets on all outcomes of a Formula 1 race you’re betting on, which will mean that you can only win whatever ends up happening.

This is a completely legitimate way of winning bets and one of the best Formula 1 betting methods available. We at Betopin can help you learn it if you read our guide but know that you will have to use a betting exchange for this to work.

Most Popular Formula 1 Betting Markets

As is the case with most sports, there are many betting markets or types of bets for Formula 1. Naturally, the ones you get depend largely on the betting platform you choose to use, but we’ll cover all the useful ones you need to know about.

You can find all of these bets on the various betting platforms we’ve included in our toplist. Unfortunately, you won’t be able to use a single Formula 1 betting site and expect to get all bet types on it, as no site offers all bets. However, if you’re willing to join more than one site, you’re bound to find all of these bets.

If you are still a beginner, we advise you first to try out the simpler bets and progressively move on to more complex ones as you learn more about formula one betting. With that in mind, let’s take a look at all the popular bets you’ll get to place on the best Formula 1 betting sites out there.

Race Winner Bet

The winner of a specific match is the most popular type of bet in any sport, and Formula 1 is no exception. All you need to do here is choose the driver you believe will win the race. Naturally, you can bet on any driver that will participate in that race, but it’s best to pick the one with the best odds. If you are a big fan of the sport, it would be best to use your own knowledge and the given odds to predict the most likely race winner.

Additionally, you can also bet on the constructor, not the driver in any specific race. This might even be easier as there are fewer successful constructors than successful drivers.

Championship Winner Bet

As Formula 1 doesn’t have as many events as most other sports, one of the most popular Formula 1 betting options is the World Championship winner. This bet is simple; all you need to do is bet on who you think will win the championship, and that’s all. This naturally means that you will have to wait a long time for the outcome, but the bet can still be quite easy to win if you go for the driver with the best odds. You can also place the same bet on the constructor you think will win the season.

Podium Bet

The podium bet is one of the easiest betting options for new players. It works by you betting on a driver to finish in any of the top three positions in the race. It sounds easy, and it is, but bear in mind that it will also usually come with very low betting odds. Despite that, it’s perfect for those who want to have a bit of fun with F1 betting.

The top six finish bet offers an even easier way to win on some platforms. It’s the same as a podium bet, but it covers the first six spots, so all you need to win is for your driver to finish in any of the first six positions.

Driver Matchup Bet

The driver matchup bet is a bit more complex, and it works better for those who have more knowledge of the sport. The sportsbook releases driver matchup pairs on which you can bet, which means that you will be betting on one in a pair of drivers finishing ahead of the other. If you decide to place this bet, the driver you want to bet on doesn’t need to win the race; they only need to be better than their rival.

The bet is not easy because the betting platforms choose the driver pairings, and you can only bet on one of those pairs. This is precisely why your knowledge needs to be more extensive if you want to win often. Additionally, you can also follow competitive odds, which can sometimes be more than enough for this betting market, but this way is still riskier.

Pole Position Bet

The pole position bet is straightforward. All you need to do is bet on a driver winning the pole position. You can only place these bets before the actual race starts as the driver needs to have the best time in the qualifying round to take the pole position or the position at the front of the starting grid. This is a perfect bet for those who want to follow the qualifying round as well as the main race event.

Winning Margin Bet

The winning margin bet is perfect for more advanced bettors as you need to accurately guess the time difference between the first two spots at the end of the race. Most sports betting sites will give you a full bet with a specific time frame, but they might also let you bet under or over a specific amount of time. It’s not an easy bet to win, but it does tend to come with great odds.

Futures Bet

Futures bets exist with most sports today, as they are all about betting on future outcomes. In most cases, when it comes to F1, you’ll get to bet on the winner of the whole championship before the season starts. This is not a bad bet, but you need to realize that its outcome is likely months away, so you need to be prepared to wait. This means that if you end up placing several of these bets, you’ll freeze a big portion of your betting bankroll, so you should always plan ahead.

Bottom Line

All in all, Formula 1 is an interesting sport, and F1 betting is as fun and rewarding as betting on any other sport. If you want to try it out, all you need to do is pick one of the sports betting platforms from our top list and start placing bets.

As this guide has covered all you need to know about F1 events and the popular betting markets you can use, you have all the knowledge you’ll need to start placing bets on F1 events and races. Good luck, and have fun!

Frequently Asked Questions About Formula 1 Betting

Is Formula 1 live betting available for Canadian bettors?

Yes, of course. All the betting platforms on our list cover live betting but bear in mind that you won’t always have this option for F1 as the races are much rarer than events in other sports.

Can I use a welcome bonus on Formula 1?

This depends on the site you choose to join. As long as the site has a welcome offer covering sports betting, you will likely be able to use the bonus for your F1 bets. However, you should still contact customer service to make sure this is the case.

Which Formula 1 driver are from Canada?

At the moment, Canada has two F1 drivers — Nicholas Latifi and Lance Stroll. Both drivers have active contracts with Williams and Racing Point, respectively, and they are likely to remain in the competition next season as well.

How can I deposit and withdraw F1 betting money?

This depends on the payment methods available on the site. We’ve made sure to include only the platforms that cover a wide variety of banking methods, especially those popular in Canada, like credit and debit cards (Visa, MasterCard, and American Express), Paysafecard, Interac, Neteller, Skrill, and others.

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