Wagering money on thrilling races is makes the action ever more exciting for a lot of F1 fans. Often beginners will just choose their favorite team or driver to win a race when practicing F1 betting in Canada. However, if you want to profit from this activity, you must learn a few more things.
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We have created this guide dedicated to the best F1 betting sites to help you learn everything you need to know. Once you finish reading this page, you will understand the types of F1 bets, how to bet on this sport, and the best F1 betting sites in Canada.
The Best F1 Betting Sportsbooks List
With the help of the best F1 sportsbooks, Formula One fans can expect an unforgettable betting experience. With so many sites to choose from, it will take ages for bettors to find what they are looking for. You can avoid this inconvenience and find an F1 betting Canada site that suits you right away by checking our list below.
- Powbet – The best overall F1 betting site in Canada
- BetVictor – Accepts All Canadian Provinces
- STS – Well-established motor racing site
- Betstorm – Great option for multiple F1 betting markets
- Leon bet – Excellent Canadian F1 betting site for live streaming
- N1bet – Leading car racing sportsbook for crypto players
- Bodog – One of the best sites for quick withdrawals
- Tebwin – Top solution for F1 sportsbook bonus hunters
- Cazimbo – A betting site with a sleek, modern design
- Betvictor – Top-notch F1 betting app
- Sports interaction – Excellent for those looking for iOS F1 betting apps
Best F1 Betting Sites Reviewed
Get to know the top five F1 betting sites better through these short reviews.
1. Powbet – The Best Overall F1 Betting in Canada
Even though it’s not the oldest sportsbook on our list, in fact it’s among the newest sportsbooks in Canada, Powbet definitely deserves to be on top. Players will find a selection of over 35 sports on this website, including F1.
Powbet is a crypto-friendly bookmaker allowing players to place deposits and withdraw their earnings in several cryptocurrencies, including Bitcoin. Of course, they can also use more conventional payment solutions like credit and debit cards, bank transfers, and even e-wallets.
Punters who prefer websites with high limits should definitely check Powbet because this site allows you to place hundreds of dollars and get enormous payouts.
There is a qualified, friendly team of customer support agents available at any time for any potential problem. Powbet is licensed by the Government of Curacao and uses the latest encryption technology to protect its users.
There’s no specially designed F1 betting app. Still, the site works without any problems on any modern mobile web browser, thanks to its responsive design. In addition, users can expect many bonuses and promos like a massive welcome bonus for new users. These things make Powbet the best F1 betting Canada option overall.
Pros:
- Allows big payouts
- Licensed F1 sportsbook
- Professional customer support
- Mobile-friendly design
Cons:
- PayPal not available as a payment option
2. STS – Well-established Motor Racing Site
It’s not uncommon for brick-and-mortar bookmakers to establish an online presence. In fact, many F1 betting Canada sites have already done this, and STS is among them. This brand was founded in 1997, but it was in 2019 when it was introduced to the online market.
STS is a serious sportsbook with two licenses issued by the UKGC and MGA. Its current betting offer features more than 40 popular sports and is one of the best Canadian football sportsbooks as well as one of the best hockey betting sites in Canada. Thanks to STS, players from Canada can find more than reasonable odds on popular events, including F1 events.
Even though it doesn’t provide live streaming services, this bookie offers all registered players an excellent live betting experience. Another big plus here is the presence of multiple payment solutions, including popular e-wallets (Neteller, Euteller, Skrill, etc.) and credit/debit cards.
STS promises fast payouts and a seamless verification process. F1 betting apps for Android or iOS users are not available on the site, but this doesn’t mean that you can’t use STS from your mobile web browser.
Finally, they have exclusive bonus offers including the enormous welcome bonus for new players.
Pros:
- Great bonuses
- More than 10 payment methods
- Two licenses
- No fees
Cons:
- VIP program is missing
3. Betstorm – Great Option for Multiple F1 Betting Markets
Betstorm was established in 2019, so it’s not one of the oldest F1 sportsbooks out there, but it’s definitely worth checking. One of the reasons we are saying this is the wide range of F1 betting markets available on this site.
Besides the fact that you can bet on various F1 events, readers should know that this platform has two licenses issued by the Malta Gaming Authority (MGA) and the UK Gambling Commission (UKGC). Of course, the site employs the best encryption technologies, including SSL. They are also one of the best UFC sportsbooks in Canada and the top Canadian NBA betting sites.
When it comes to bonuses, you can expect a free bet and promotions targeting specific sports (F1 is not part of this offer). Like most of the sites on our list, Betstorm lets you contact customer support via live chat and email.
It also lets players deposit funds in several ways, including the most popular e-wallet options and credit/debit cards. There are no F1 betting apps for iOS and Android users provided by this site. Still, you can use the mobile-optimized website in your favorite web browser.
Pros:
- Free bet welcome bonus
- Long list of F1 betting markets
- Excellent customer support
- Simple registration process
Cons:
- No live streaming
4. Leon bet – Excellent Canadian F1 Betting Site for Live Streaming
Leon Bet is another F1 sportsbook with a wide range of betting markets and sports to enjoy. Yet, this particular bookmaker will also impress you with its odds. Whether casual or high-roller, every player will benefit from these generous betting lines.
Leon bet is another example of a brand that started as a land-based betting shop and turned into an online bookie (in 2018). In addition to the Curacao license, it also has a Kahnawake Gaming Commission license.
You can communicate with one of their professional representatives through email or live chat whenever you get stuck. It takes a short period to get answers. With fast payouts and several popular payment solutions, depositing and withdrawing funds at Leon bet is as easy as pie.
Importantly, Leon Bet comes with one of the most successful F1 betting apps around, especially for Android users. It allows you to place bets on the go without any hassles.
Pros:
- Modern Android mobile app
- Excellent odds
- Several payment options
- Professional customer support
Cons:
- An iOS app is missing
5. N1bet – Leading Motor Racing Sportsbook for Crypto Players
There are times when players should give a chance to new Formula 1 sportsbooks, and that’s the case with N1bet. Even though it started in 2021, this site has already gained the trust of many players, and there’s more than one reason for that.
This Curacao-licensed bookie offers multiple banking solutions like Neteller, Skrill, MasterCard, VISA, and Sofort. In addition, this is one of the best options for Formula 1 betting for bettors preferring cryptocurrencies. Namely, Ethereum, Litecoin, Tether, Dogecoin, Bitcoin Cash, and Bitcoin are on the list of available payment methods.
Players can also find enhanced odds for specific matches, and sometimes these matches include F1 races. You can also benefit from the bonuses and promotions regardless of your status (regular or new player).
If you can’t find answers to your questions on the site’s Frequently Asked Questions section, you can always talk to a customer support agent (email/live chat).
Pros:
- Multiple cryptocurrencies accepted
- Several promos and bonuses for regular and new players
- Customer support available 24/7
Cons:
- You must wait for up to 3 working days to get your winnings in some cases
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Sportsbook Welcome Bonus Promo Code Live Betting Live Streaming Payment Methods Powbet 100% up to $150 No Yes No Interac, Neosurf, ecoPayz, VISA, Mastercard, eZeeWallet, FlexEPin, MiFinity, MuchBetter, CashtoCode, Bitcoin, Litecoin, Ethereum, Ripple STS 100% up to $300 SBK300 Yes No Astropay, Debit/Credit Cards, ecoPayz, Euteller, Neteller, Interac, MuchBetter, PaySafeCard, Skrill, Trustly, Trustly Pay N Play Bodog 100% up to $400 No Yes No MasterCard, VISA, Interac, Bitcoin, Tether, Litecoin, Ethereum Leon bet Free bet up to $200 CA20 for a $20 risk-free bet (deposit $20) CA50 for a $50 risk-free bet (deposit $50)
CA100 for a $100 risk-free bet (deposit $100)
CA200 for a $200 risk-free bet (deposit $200)
Yes Yes (on selected matches) VISA, MasterCard, Interac, Bank Transfer, Bitcoin, eZee Wallet, MuchBetter, PM, CashToCode, MiFinity N1bet Free bet up to 10% up to $460 (first four deposits) No Yes No VISA, MasterCard, ecoPayz, Neosurf, iDebit, Interac, MuchBetter, Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, USDT Betstorm $30 free bet BET30 Yes No Interac, VISA, MasterCard, Maestro, VISA Electron, Zonda Pay (Crypto), MuchBetter, PaySafeCard, ecoPayz Tebwin $30 free bet SB30 Yes No Interac, VISA, MasterCard, Maestro, VISA Electron, Zonda Pay (Crypto), MuchBetter, PaySafeCard, ecoPayz Cazimbo 100% up to $150 No Yes Yes Interac, NeoSurf, ecoPayz, VISA, MasterCard, MiFinity, MuchBetter, CashToCode, FlexEPin, eZeeWallet, Bitcoin, Litecoin, Ethereum, Ripple BetVictor Free bet up to $300 NEWBONUS Yes Yes Debit Cards, Credit Cards, PayPal, Neteller, Skrill, PaySafeCard, Bank Transfer, MasterCard, FastFunds Withdrawals F1 Betting Explained
F1 stands for Formula One (also known as Formula 1) and represents the top class of global racing for formula racing fans. Millions of people around the globe attend the FIA Formula One World Championships every year.
So, it’s no surprise that so many people in the world (including Canada) are interested in F1 betting. This form of betting includes various bets that players must analyze before wagering their money. For example, it’s not the same to bet on the winner of a single race and the outright winner of the current season. Also, players can bet before the races have started and during the races (in-play bets).
F1 Betting Odds & Lines
We can’t say that F1 betting odds and lines work much differently than the odds and lines linked to other sports. So, if you have experience in other sports, you should not find F1 betting difficult.
The most important thing here is to learn the numbers and symbols associated with each betting option available at the best F1 betting Canada sites. Once you know how to read the F1 betting odds and lines, you will better understand the risk and potential rewards.
It’s probably a good idea to provide an example that can clear all dilemmas. The best way to do this is by analyzing a moneyline bet and odds. There are three main types of odds used globally – British or Fractional, European or Decimal, and American or Moneyline odds. The latter is used in Canada too. When the moneyline odds display a number worth more than zero (for instance, +150), they indicate a bet on an underdog. If this is a negative number (-150), you are betting on the favorite.
The F1 odds are affected by many different things and can change at any time. Players can find the best odds at the most popular bookies thanks to our website.
F1 Betting Markets
F1 events are true sports spectacles watched by millions of people, so it’s no surprise that the best sportsbooks provide access to various F1 betting Canada markets. To get the most from your betting experience, it’s crucial to understand these markets. Here are some of the most popular ones.
Race Winer
F1 betting can’t be more straightforward than wagering a race winner bet. Bettors predict who will win a specific race (Grand Prix event). Unlike team sports, where you usually have two opposing sides, F1 race winner bets let you bet on one of the many drivers.
Futures
For the more experienced punters, we have the futures bet. This is an umbrella term describing wagers placed on future events. When we say future, we usually mean an event that will take place weeks, if not months, in the future. This makes these bets riskier because you cannot predict for sure what will happen at the end of the season, for example. As a result, the payouts are higher.
Head-to-head
If you are a fan of duels between certain F1 drivers, you may want to consider using this bet. As the name suggests, head-to-head bets let you choose the better driver in a duel. So, this driver doesn’t have to win the race, but he must end the race before his opponent.
Over/Under
F1 betting allows bettors to pick over and under bets like team sports. We are not talking about scoring a specific number of goals this time. It’s the finishing spot that plays the central role. For example, you can wager on under 10 places, and your pick must end in the first 10 to win that bet.
Parlay
Despite being multiple markets, parlay betting isn’t possible on F1 races as the markets are related to each other. However, often operators will offer specially priced multiple bets.
F1 Free Bets
One of the benefits of joining some of the F1 betting Canada options listed on this page is the chance to use massive bonuses and promos. Among these offers are free bets that work slightly differently from regular bonuses. Now let’s check the different F1 free bets available at some online bookmakers.
Risk-Free Bets
Even though the name of this free bet suggests that there’s no risk involved, this claim can be applied only to the bonus. Namely, bettors still have to deposit a predetermined amount of money on their account to get a free bet that matches the amount. For instance, if you deposit $20, you’ll get an additional $20 that you can place on any F1 betting market.
Matched Deposits
Next, we have a very popular promo found at dozens of betting sites. These so-called matched deposits are similar to risk-free bets, but they usually feature specific percentages (50%, 75%, 100%, or even 150%). Let’s take 100% as an example. When players deposit $150, and there’s a 100% matched deposit bonus, they will get $150 in bonus money.
No Deposit Bets
Just because they are not common, this doesn’t mean that no deposit bets don’t exist. The best thing about them is that you don’t have to deposit your money to use these promos. So, it’s no surprise these bonuses are of lower value, typically $10 or $20.
Sportsbook Bonus Promo Code Minimum Odds Tebwin $30 free bet SB30 -200 Betstorm $30 free bet BET30 -200 Leon bet $11 free bet (up to 20 times) / -133 BetVictor 2 x $10 free bets / 100 N1bet $10 free bet / / Live F1 Betting
It’s thrilling to pick a race and/or a driver, wager some money on them and wait for the event to start. But, many people find live F1 betting even more exciting. The good thing is that the best F1 betting Canada sites offer this form of betting. Punters can place one or more bets during the races.
Like in “regular” betting, in-play betting lets you choose from several markets. Interestingly, the odds will keep changing based on the current situation, and wagering money quickly is crucial for your success. Of course, you should never make decisions in a hurry, so place bets only when you feel that this is a reasonable thing to do (when there’s value).
Using F1 betting apps available on some websites will help you join the live action regardless of your location.
F1 Sportsbooks with Live Streaming
All F1 betting Canada sites would have live streaming services in a perfect world. However, in reality, only a few of them can help you watch the best Formula 1 races while you are betting or waiting for the results. Leon bet and BetVictor are two excellent examples of sites like that, and they have seamless HD streams that help you follow the races on your device.
Biggest F1 Races to Bet On
The Formula One seasons have between 15 and 23 races in the past twenty years. These F1 races promise many exciting moments, but some are bigger and more attractive than others. The following is a shortlist of the three biggest F1 races to bet on.
Monaco Grand Prix
Without any doubt, the Monaco Grand Prix is one of the most anticipated car races. It’s been held on the streets of Monaco since 1929. Drivers must complete 78 laps at Circuit de Monaco to finish this race. It’s worth mentioning that the legendary F1 driver Ayrton Senna still holds the record for drivers championship – six.
Italian Grand Prix
Being the fifth oldest national Grand Prix, the Italian Grand Prix represents an excellent opportunity for experienced bettors to place profitable bets and enjoy the race. The Italian Grand Prix is held at Monza (Autodromo Nazionale di Monza). As expected, Ferrari is the leader with the most wins for constructors championship – 20.
British Grand Prix
The British Grand Prix is another F1 race with a long history. It has been held at the Silverstone Circuit since 1926. This is the oldest Formula One race which comes with 52 laps. Lewis Hamilton, with eight wins, is the driver with the most wins at this race, while Ferrari holds the record when it comes to constructors with 16 wins.
Is F1 Betting Legal in Canada?
Canada is one of the many countries where sports betting is legal, which means that F1 betting is legal. Since it’s a big market, many established and new F1 sportsbooks are available to Canadian players across Canadian provinces, including Ontario sportsbooks and Alberta sportsbooks. They provide multiple banking solutions making it easier to wager money on your favorite F1 events.
Explore Our Provincial Betting Guides
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Alberta Sports BettingCovering everything you need to know about sports betting in Alberta. Including laws, payment methods, and how to wager a bet online, and more.Alberta Sports Betting
Ontario Sports BettingJoin us as we explore the world of sports betting in Ontario. Providing you with everything you need to know, from the best betting sites, legalities, and more.Ontario Sports BettingBanking at F1 Sportsbooks
Every individual interested in F1 betting for real money should analyze the banking methods available at the bookmakers. The top F1 betting Canada options provide several ways for withdrawing and depositing money. They also have reasonable limits and fast processing times. We’ve prepared this list of the top 5 bookies and their banking options to better picture these things.
Betting Website Banking Method Min/Max Deposit Withdrawal Time Powbet Interac, Neosurf, ecoPayz, VISA, Mastercard, eZeeWallet, FlexEPin, MiFinity, MuchBetter, CashtoCode, Bitcoin, Litecoin, Ethereum, Ripple $10/$10000 Instant STS Astropay, Debit/Credit Cards, ecoPayz, Euteller, Neteller, Interac, MuchBetter, PaySafeCard, Skrill, Trustly, Trustly Pay N Play $10/$45000 Instant – 3 working days Betstorm Interac, VISA, MasterCard, Maestro, VISA Electron, Zonda Pay (Crypto), MuchBetter, PaySafeCard, ecoPayz $20/$5000 1 to 7 working days Leon bet VISA, MasterCard, Interac, Bank Transfer, Bitcoin, eZee Wallet, MuchBetter, PM, CashToCode, MiFinity $10/- 1 hour – 3 working days N1bet VISA, MasterCard, ecoPayz, Neosurf, iDebit, Interac, MuchBetter, Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, USDT $20/(The maximum deposit amount depends on the payment method) Instant – 7 working days Tips for F1 Betting
It turns out that many things can help players improve their F1 betting journey. Here are the top 5 among them.
Set a budget and stick to it
The first rule in F1 betting (or any type of betting) is to set a budget and stick to it. Players should never bet with money they can’t afford to lose.
Don’t start big
Beginner punters should start with small and straightforward bets (moneyline bets, for example) before investing more significant amounts on complex bets (parlays, for instance).
Check the current trends
Some drivers are favorites before the season starts. Still, as the season develops, you will see that some underdogs end in the top positions. So, you must check the statistics and follow the current trends to make better decisions.
Analyze the T&Cs
Every sportsbook has a Terms and Conditions page. Make sure to read this page and the bonus T&Cs before taking advantage of their offer.
Know when to stop
F1 betting especially live F1 betting, can be very exciting. However, when you are on a losing streak, it’s better to cool off and wait until you place the next bet. Always keep your budget in mind.
How to Bet on F1 in Canada
The time has come to turn theory into practice. Joining F1 betting sites is easy and involves just a few simple steps. To help you understand how it works, we’ve taken Powbet’s registration process as an example.
Step 1 – Choose your welcome bonus
First of all, players must choose their welcome bonus. You can select the sports bonus, casino bonus, enter a promo code or sign up without using any bonus.
Step 2 – Registration
The site will ask you to type in the email, country, currency, and phone number. Additionally, players can check the box to get bonuses and promotions via SMS and email.
Step 3 – Choose your username and password
You will have to set the login and password on the third page.
Step 4 – Confirm your details
Then players must confirm their details – first name, last name, gender, birthday, city, postcode, and street address.
Step 5 – Start playing
When you’re all registered you can make your first deposit and then start enjoying the action!
Conclusion
Thanks to our comprehensive F1 betting Canada guide, you should be able to pick the right website for this activity. All the brands we have mentioned on this page are worth a try, but Powbet is the one that stands out. Join Powbet today and claim your bonus!
FAQs
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Jamie Clark Senior Sports Editor
Jamie Clark Senior Sports Editor
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