Formula 1 Betting Sites & Sportsbooks

Ranked: Our Formula 1 Crypto Sportsbook Picks

1. Cloudbet: Best for swift payments
2. Stake: Best for initial bonuses
3. 1XBet: Best for bonuses and no transaction fees
4. BC.Game: Best for no transaction fees and withdrawal limit
5. Sportsbet.io: Best for anonymous betting
6. Vave Casino: Best for anonymous betting
7. Mystake: Best for new user bonuses
8. 22Bet: Best for language options
9. Bitcasino.io: Best for loyalty reward system
10. Bitdreams: Best for fair play on bets

Casino Comparison

Operator	Bonuses	Wagering	Payments	Trustworthiness & Reputation	Anonymity	Pros	Cons
Cloudbet	100% up to 5 BTC	No requirements but has a bonus points system	18 cryptos 0.001 BTC min deposit	Licensed, good reputation	KYC required	-great bonuses -quick withdrawals -test mode betting	No mobile app
Stake	-Cashback -Bet Insurance	40x	200+ cryptos, 20 min deposit	Licensed, high reputation	KYC required, not anonymous	-Numerous cryptos available -quick withdrawals -great customer support	No fiat currency support
1XBet	-100% match bonus on first deposit -Bet insurance	35x	16 cryptos including BTC, ETH, XRP, BCH, etc	Licensed, high reputation	KYC required, not anonymous	-various payment options -wide global network	Slow customer support
BC.Game	-Medal reward system -Free spins	Different way of wagering where: Unlocked BCD = Wager amount x 1% x 25%	18 cryptos including BTC, ETH and DOGE	Licensed, reputed	KYC required, not anonymous	-Altcoins can be exchanged with other cryptos -periodic bonus -Great VIP rewards	Smaller selection of games
Sportsbet.io	– Bonus bets or EUR40	7 days	11 cryptos including BTC, ETH, LTC and DOGE	Licensed, high reputation	No KYC required	-major cryptos available -fiat payment available	No matching deposit bonus
Vave Casino	-100% matched bonus -Free spins on first and second deposit	40x	BTC, ETH, USDT, LTC, Mastercard, Visa	Licensed, reputed	No KYC required, anonymous	-supports fiat currencies -great customer support -fast transactions	Not available in US and UK
MyStake	-170% matched bonus -monthly cashbacks	30x	BTC, ETH, LTC, XRP, BCH, USDT, XMR, DASH	Licensed, reputed	KYC required, not anonymous	-supports fiat currencies	No mobile app
22Bet	-100% matching deposit + 22 spins	10x in 30 days	30+ cryptos including BTC, ETH, LTC and DOGE	Licensed, reputed	KYC required, not anonymous	-Mobile app available -Great customer support	No VIP program
Bitcasino.io	20% cashback welcome bonus	No requirements	BTC, ETH, LTC, TRX, USDT, XRP, ADA, DOGE	Licensed, reputed	KYC required, not anonymous	Live chat services	No fiat currency support
Bitdreams	-100% welcome bonus + 200 free spins	40x	BTC, BCH, DOGE, LTC, ETH, XRP	Licensed	KYC required, not anonymous	-major cryptos available	Low monthly withdrawal limit

1. Cloudbet

• Bonuses

It offers new players a 100% initial deposit bonus of up to 5 BTC, along with 200 free spins. Users can receive up to 10 BTC if they deposit 5 BTC on their initial deposit since the site will match it with the same amount. Additionally, Cloudbet gives attractive incentives to regular customers through its loyalty program, and free spins system known as “the Free Spin Tuesdays.” After the offer is originally activated, customers have 365 days to meet the wagering requirements for bonuses on Cloudbet.

• Payments

• • • Accepted cryptos – BTC, ETH, BCH, USDT, USDC, PAX, PAXG, LINK, DAI, DASH, DOGE, and LTC.
    • Cloudbet charges up to 5% on handling all withdrawals and deposits.
    • Cloudbet has a minimum deposit limit of 0.01 BTC to avail its welcome bonus of up to 5 BTC.
    • There is no max withdrawal limit on Cloudbet.
    • Payout time ranges from being instant to taking a day.

• General information and security

• • • Founded in 2013.
    • Languages – 17 languages including English, Spanish, German, Italian, French and Japanese.
    • Licensed under E-Gambling Montenegro and Curaçao eGaming. Thus, it is a very secure platform.
    • Reputation – 9.2/10.

• Anonymity

• • • An email address and password are needed to register with Cloudbet.
    • Users must later provide their Name and Date of Birth, and fund their accounts in order to begin playing.
    • Cloudbet is not an anonymous platform. It requires submitting documents related to identity, contact, finances, transactions and profile in order to complete the KYC process.

• Verdict

Cloudbet is a big name in the industry, and our research suggests that it is one of the safest platforms to use. Its bonuses are exciting for users, and the platform has very swift payment processing.

2. Stake

• Bonuses

Stake provides a 200% match bonus to new players. As users must make their initial deposit within 24 hours of joining in order to be eligible for the bonus, players must spend it immediately. But there is also a minimum deposit requirement. The wagering requirement for the bonus is 40 times. Stake has a feature called rakeback that enables users to get paid for each wager they make. Additionally, Stake provides bet insurance, which helps cover up the loss sustained from a wager.

• Payments

• • • Accepted cryptos – BTC, ETH, LTC, XRP, DOGE, TRX, EOS, BCH.
    • For withdrawals, Stake levies a modest fee that varies depending on the crypto. It is 0.00007 for BTC, 0.003 for ETH, and 1.5 for DOGE, to name a few.
    • Stake has a minimum deposit limit of $5. To avail the first deposit bonus, the minimum deposit must be $100.
    • There is no max withdrawal limit on Stake.
    • Most payouts are instant on Stake, but may take up to a day.

• General information and security

• • • Founded in 2017.
    • Languages – English, Deutsch, Indonesian, Filipino, French, Spanish, Turkish, Polish, Vietnamese, Russian, Chinese, Portuguese, Japanese, and Korean.
    • Licensed under Medium Rare NV. One of the oldest and most trusted platforms. Thus, Stake is a secure platform.
    • Reputation – 9.1/10.

• Anonymity

• • • Since it is not possible to use this website anonymously, personal identification documents or KYC is required.
    • Only an email address and password are needed to register. However, in order to use the site, account verification is necessary.
    • Customer assistance will need copies of the user’s national ID card, passport (or driver’s license), and proof of address before they can confirm the user’s identification. As proof of address, Stake will accept three-month-old utility or bank statements. The account is verified in 1-3 days.

• Verdict

Stake is also a well-known platform that has provided an amazing experience to its users. In our opinion, its welcome bonus is very generous and enticing for new users. While the platform is not anonymous, which can be a problem for some, it acts as additional security to the website.

3. 1XBet

• Bonuses

New customers may receive a 100% match on their initial deposit at 1XBet. The bonus has a 35x wagering requirement. A very substantial incentive of up to 7 BTC is available to new users. The site occasionally provides free bets to its members, who may use them to gamble on various events. Additionally, the site provides bet insurance with a 100% maximum payout.

• Payments

• • • Accepted cryptos – BTC, ETH, XRP, BCH, LTC, DASH, XVG, ETC, ZEC, ALTS, TRX, DOGE, DGB, QTUM, BCN, XEM.
    • 1XBet doesn’t charge any transaction fees.
    • The minimum deposit limit on 1XBet is $1.
    • The maximum withdrawal limit is over $30k in cryptocurrency.
    • The withdrawal is processed within 15 minutes to 7 days.

• General information and security

• • • Founded in 2007.
    • Languages – Over 60 languages including English, German, French, Spanish, Italian, Greek, Chinese, Japanese, Arabic, Bulgarian, Hebrew, etc.
    • Licensed under Curaçao eGaming. 1XBet is a top platform for betting and is secure.
    • Reputation – 9.1/10.

• Anonymity

• • • To withdraw and deposit money on the platform, 1XBet needs user verification. Consequently, it is not an anonymous website.
    • A new user may sign up using any of the following three methods: Email, phone, or social media accounts.
    • User must deliver a copy of one of the following papers for verification:
      • National ID card — front and back;
      • Passport — photo and cover page;
      • Driving license — photo, name, and signature visible;
      • Provisional license — front and back;
      • Voter’s card — address must be visible;
      • Armed forces ID card — front and back.
      • Users may begin betting after the verification, which typically takes two to three days.

• Verdict

1XBet also provides an amazing welcome bonus to new bettors. The free bets will be very useful, encouraging new players to wager without stress. The platform also doesn’t charge any transaction fee, which is an additional benefit.

4. BC.Game

• Bonuses

A player can get incentives through BC.Game‘s medal reward system based on the amount of medals they accumulate through platform activity and wagering. Five medals unlock 20 BCD, ten medals 800 BCD, fifteen medals 2,400 BCD, and twenty medals 10,000 BCD. Additionally, the platform offers free spins, which give users the chance to win up to 1 BTC.

• Payments

• • • Accepted cryptos – BTC, BCH, LTC, ETH, XRP, DOGE, TRX, DOT, BNB, AVAX, SOL, MATIC, FTM, ADA.
    • BC.Game doesn’t charge fees for deposits or maintenance.
    • On BC.Game, there is no minimum deposit requirement. However, a deposit of at least 0.002 BTC is necessary to process a withdrawal. The minimum deposit required to receive a 100% match on initial deposit is $80.
    • There is no max withdrawal limit on BC.Game.
    • The withdrawal is completed within an hour.

• General information and security

• • • Founded in 2017.
    • Languages – 14 languages including English, French, Portuguese, Indonesian, Russian, Vietnamese, Korean, and Spanish.
    • Licensed under Curaçao eGaming. It is a secure platform.
    • Reputation – 9/10.

• Anonymity

• • • BC.Game players must confirm their identity because it is not an anonymous website.
    • For new users to register, the first and last name, birthday, and email address are necessary.
    • To further verify their account, users must provide a copy of an identity document (front and back) to kyc@bc.game.

• Verdict

BC.Game has a unique reward system that may or may not be exciting for new users. However, the platform is a trusted one, and provides a great betting experience. It also doesn’t charge any transaction fee, which is a major advantage for bettors.

5. Sportsbet.io

• Bonuses

Sportsbet.io offers a welcome challenge game where a new user can get up to EUR 40 or 6 free bets. For this challenge, a new user needs to make a deposit on the platform, and opt for the bonus. Next, they need to make 4 qualifying bets on any sport available in the sportsbook. If approved, the reward would reflect in their account. The platform provides 7 days to use this bonus. Sportsbet.io also has multi-bet insurance, where a player can maximize rewards by placing bets in 5 different places, and if only one bet is lost, the user gets a free bet.

• Payments

• • • Accepted cryptos – BTC, ETH, LTC, DOGE, ADA, USDT, TRX, XRP, BNB, BUSD, SOC.
    • Sportsbet.io doesn’t charge any fee on crypto transactions. However, if the account is left unused for over 3 months, the platform may charge administrative costs of up to 15% of the user’s funds.
    • The minimum deposit on the platform is 0.00025 BTC.
    • There is no maximum withdrawal limit on using crypto. However, there are limits on withdrawals if a gambler uses fiat currencies.
    • Usually the withdrawal is processed instantly but may also take up to 5 days.

• General information and security

• • • Founded in 2016
    • Languages – English, Japanese, Spanish, Portuguese, Turkish, Thai, Dutch, French, Korean, Chinese, and Vietnamese.
    • Licensed under Curaçao eGaming. Thus, it is a secure platform.
    • Reputation – 8.9/10.

• Anonymity

• • • This platform doesn’t require confirming the identity in order to place bets. Hence, it is an anonymous platform.
    • To register, the user needs to be at least 18 years old.
    • An account can be created by filling in the email, username, country code, Date of Birth, and password. Alternatively, a new user can also use their social media or Google accounts to register.

• Verdict

Sportsbet.io doesn’t provide a matching bonus, but the free bets are useful regardless. If earned successfully, the free bets can prove to be crucial in getting a great experience of the platform and Formula 1 betting in general. The platform is also anonymous and supports fiat payments.

The History of Formula 1

While the mainstream popularity of Formula 1 came much later, its origins date back to as early as the 1890s. In 1895, the first proper motor race was conducted from Paris to Bordeaux, which was won by Émile Levassor. In 1906, the French Grand Prix was organized as an alternative to the Gordon Bennett races. The first international drivers’ racing championship was conducted in 1931, known as the International Grand Prix.

Tazio Nuvolari, an Italian driver, rose to fame in the 1930s, and was known as the ‘Flying Mantuan.’ The motor racing power was seen shifting from Italy to Germany in the mid 1930s with the advent of giant companies like Audi and Mercedesz-Benz. These cars were far superior in technology than the others, but the Italian champion Nuvolari still beat them with his skills. Motor racing took hold during World War 2, but after its end in 1946, the FIA (Fédération Internationale de l’Automobile) standardized a set of rules, and finally, in 1950, the first Formula 1 race took place in Silverstone, England.

In 1966, Formula 1 saw the start of the 3-liter engine formula. The following decades saw an immense development in the cars used. In 1985, the first world championship Grand Prix was held in Australia. The now iconic safety cars first made an appearance in 1992 at the British Grand Prix. Fatal tragedies of Ayrton Senna and Roland Ratzenberger during the 1994 San Marino Grand Prix led to immense improvement in safety measures and there have been no deaths since.

In 2008, the Formula One Teams Association (FOTA) was formed, which overlooks the interests of the teams. From the mid 2000s to the current times, there have been significant developments in the engines, and Formula 1 is said to be in its turbocharged era with the cars speeding using 1.6-litre single turbocharged 6-cylinder engines.

Introduction to Formula 1 Crypto Betting

Formula 1 enthusiasts always strive to participate in the races in some way. Betting on their favorite drivers and teams is an amazing opportunity to make money while enjoying their favorite games. Traditional betting on Formula 1 started gaining momentum in the late 1990s. However, when cryptocurrency saw a rise in the past few years, it branched to many sectors where users wanted anonymity and decentralization in currency.

Formula 1 was no exception. From 2013, crypto started being used as a transactional medium in online websites that allowed betting on Formula 1. Since then, crypto betting has witnessed unmatchable popularity among Formula 1 fans. They bet on markets like the race winner, league champions, most winning player etc.

How does Crypto Formula 1 Betting Work?

Crypto Formula 1 betting isn’t very different from traditional betting. The gambler has to pick their motorsport team or player who has the best odds to place a wager on them. However, instead of fiat currencies, a gambler can use different cryptocurrencies like Bitcoin, Ethereum, Litecoin etc, available on the betting platform to make the payment.

Many sportsbooks provide detailed analysis of the bets placed so the gambler can track their wagers. If the bet is won, the amount will reflect in their wallet, which will be transferred to their accounts in a short period of time. The sportsbooks convert cryptocurrencies to fiat for the users and then transfer them. They also charge some percentage of the amount for this process.

How to Place a Bet on Formula 1 Using Cryptocurrency at Sportsbook?

A gambler needs to follow a certain process in order to place a bet on Formula 1 using crypto. We have made it easier for the readers by compiling the steps that need to be followed below:

Choose a Sportsbook and Make an Account

The bettor must pick a sportsbook to place their first wager. There is a wide choice present, and one may make a decision based on the features, bonuses, transaction times, payment methods, etc, offered by the operator. After making a decision, the player must sign up on the site. Each platform has its specifications, and some even require completing the KYC (Know Your Customer) process to verify the gambler’s identity.

Choose an E-Wallet of your Choice and Create an Account

The gambler will need an electronic wallet (E-wallet) to deposit and withdraw cryptocurrency for betting purposes. The E-wallet will store the coins securely and handle transactions. One should carefully select the E-wallet after conducting adequate research because there are many unreliable services and fraudulent sites. You can select from a number of excellent E-wallet options that we have gathered. After selecting an E-wallet, the gambler needs to enter their details to register. Next, they need to enter their payment details and set up a PIN. The account is then ready to use.

Browse Formula 1 Events and Matches

It is important to go through Formula 1 matches to get an idea about the best performers and events. Before placing any bets, we urge gamblers to thoroughly review the top performers as well as their track records. This will make it easier to decide who to bet on and enhance winning possibilities.

Select the Precise Betting Markets

The next step is crucial. When placing a wager, a gambler should select the betting market. In the case of Formula 1, the World Championship, Season Matches, and Season Race are popular betting markets. We advise gamblers to make thoughtful decisions, and pay great attention to the games.

Place your Wagers

Gamblers may put their bets after thoroughly considering all the possibilities and having a good sense of who will do well in the matches. Since this is the most crucial stage, it must be carried out with special diligence. Most sportsbooks make it very easy to place wagers by making a separate section for them. The gambler needs to choose the league/match/player, select the odds, add the bet amount, and then place the bet.

Keep Track of your Bets

After placing the wager, the bettor must monitor it on the sportsbook to see how the chosen team or player is doing. The gambler would receive the payout after winning the wager.

Cash Out your Profits

Next, if the bettor wins, their betting account will show the gains. The gambler only needs to finish the withdrawal process, and then, depending on the platform, the money will be transferred to their wallet in a short period of time.

What to Look into Before Choosing a Betting Site

Selecting a betting site is an important decision that may affect the security of the players’ money. Before choosing a platform to begin betting, the following factors need to be taken into account:

Options for Deposits and Withdrawals

Before selecting a platform, it is crucial to evaluate the deposit and withdrawal alternatives available. It should be compatible with the cryptocurrency that you want to use. Fast transactions and little or no costs for them are other crucial factors to take into account.

Out of the options that we’ve mentioned, Stake and Cloudbet offer the most number of cryptocurrencies for payments. On the other hand, the rest of the options don’t charge any transaction fees. Sportbet.io allows fiat payments.

Where the Site is Licensed

Though it doesn’t ensure complete security, it is beneficial for a betting platform to obtain a license. Thus, a bettor should make sure that the Formula 1 crypto betting platform they are choosing has a license from a reputed institution.

All the websites that we’ve mentioned are licensed and safe to use.

Features Available

Each platform has some unique features that can be beneficial to look into before choosing an option. Some platforms have a better interface, more languages, bet insurance etc. that can help in making a decision.

While features and their benefits are subjective for each individual, 1XBet and BC.Game are two platforms that offer a variety of features. They have far more languages available compared to other platforms. Their websites are also easier to use, and provide an great user experience to newcomers.

Bonuses or Special Offers

The majority of cryptocurrency Formula 1 betting sites provide enticing bonuses. The sum and terms fluctuate depending on the platform. Thus, a bettor must consider the advantages before selecting the platform that best suits their requirements.

In our opinion, Stake and 1XBet are the platforms that offer great bonuses for new users.

Pros of Formula 1 Crypto Betting Sites

Anonymous Betting

Gamblers would enjoy anonymous betting because crypto is employed as a transactional medium, making it impossible to identify gamblers from these payments. While some platforms ask for identity verification, this is typically done to protect the platform and ensure that all users have a secure experience. Additionally, some sites don’t request personal information, allowing gamblers to wager in perfect anonymity.

You Can Bet from Anywhere

Now a gambler doesn’t need to be at a specific location, at a specific time, in order to win money by betting. Gamblers may place wagers and access these Formula 1 betting sites from any location as long as it is not a banned nation. Even from the comfort of one’s bed, gamblers can place a wager.

Fiat Value is Diminishing

Fiat currency is very untrustworthy over the long run since its loss in value due to inflation is unavoidable. The value of cryptocurrencies, on the other hand, rises over time and has experienced an exponential increase since its inception. As a result, the bettor has the opportunity to see a comparable rise in bet payouts while utilizing crypto.

There Are No Transaction Fees

An excellent perk of having no transaction costs is provided by Formula 1 crypto betting sites. A gambler will get the entire amount of their winnings as a result, with no additional fees applied. However, few platforms may charge some maintenance fees.

Your Gains Cannot Be Seized

Cryptocurrency is decentralized and cannot be taken, in contrast to fiat currency, which is controlled by monetary and governmental authorities. Thus, with Formula 1 crypto betting, there is no concern that the government may declare a winner’s earnings to be unjust and seize or tax the winnings.

Fast Transactions

Cryptocurrency transactions are quick and often complete instantly. As a result, a gambler’s winnings can appear in their wallet within a few minutes. With fiat money, this is not the case since transactions are processed slowly by the banking system due to its high level of bureaucracy.

You Are The Owner Of Your Currency

When a person wagers on Formula 1 using a cryptocurrency-based website, they become the sole owner of their money, and are not responsible to anybody because crypto operates privately for each individual without the need of an intermediary.

Bypass Geo-Restrictions

Several nations have prohibited Formula 1 betting, which disappoints those who want to gamble. This issue is resolved by Formula 1 crypto betting sites, which enable betting without concern for geographical limits. If one makes use of cryptocurrency Formula 1 betting sites, neither the banks nor the government can intervene.

Formula 1 Crypto Betting Options

Drivers’ Champion

This requires a bettor to place a wager on who they think will become the drivers’ champion, i.e., the driver with the most points at the end of the championship.

Constructors’ Champion

This bet refers to the best-performing team. The gambler has to place a wager on the team they think will win the championship with the most points.

Race Winner

This is one of the most popular wagers as it only requires the gambler to place a bet on the player who they think will win the race. It is an uncomplicated and beginner-friendly wager.

Podium Finish

This is another beginner-friendly bet where a gambler would win as long as the picked driver finishes in the top-three positions.

Any Race Podium Finish

This requires a gambler to place a wager on the player they think will finish in the top-three position in any race throughout the championship. As long as the player ranks in the top three in any of the races, the bet is won.

Driver vs Driver

For this bet, the gambler has to pick one of the two drivers that a sportsbook showcases. If the picked driver finishes the race before the other driver, the gambler wins. There is no need to even win the race as long as the picked driver finishes before the other driver.

Pole Position

Here, a gambler wagers on the driver they believe has the best chance of winning the pole position. Gambler wins their wager if, after qualifying, the driver records the fastest time and earns the pole position place.

Fastest Lap

As the name suggests, the gambler has to place the bet on who they think will record the fastest lap in the race.

Safety Car

This bet requires the gambler to place a wager on whether they think a safety car would appear in the race course or not.

Formula 1 Betting Strategies & Tips

Use Stats and History to Your Advantage

Studying past trends and statistics is important as it can provide great knowledge to predict future outcomes. Generally, the best drivers win and there is more security in placing wagers on them. However, if they have recently not been performing well or there’s a new star, then a gambler can place bets accordingly.

Consider Every Possibility

Anything can happen in a race and it is better to consider every possibility before placing a bet. There could be bad weather conditions or some technical malfunction that can hinder the performance of the drivers.

Make Sure the Odds are Worth It

While a bettor can place a wager on a clear favorite of the masses, it wouldn’t produce much profit as the odds would be low. When deciding whether to back huge favorites, calculating the odds is very crucial. It is better to consider where the bets should be placed so the value of the reward can be increased.

F1 Betting Allows Wagers on Multiple Drivers in the Same Race

Betting on many drivers in the same race can boost the chances of earning money. Given the favorable F1 betting odds, the bettor will be able to wager on numerous drivers and still profit if one of them takes first place. Depending on the drivers selected, the size of the wager can also be changed. Since the driver with greater odds is less likely to win, less money can be wagered on them. A bettor may raise winnings while lowering losses by intelligently betting on many drivers in a single race.

Understand the Race Tracks’ History

Only paying attention to the driver’s skills can be risky. A bettor must also understand the race tracks’ history to know how a driver might perform on that track. Some tracks are difficult to maneuver, and only drivers with proven records should be trusted to perform well on such tracks.

Pay Attention to Free Practice and Qualifying Sessions

Free Practice frequently provides bettors with an idea of how a driver may do in final qualifying. This can be essential to a bettor placing successful wagers, depending on the practice performance. In a practice setting, the bettor may also consider whether the layout of the race circuit favors a quicker car.

Consider the Teammate

Each Formula 1 driver works with a teammate to learn about race setups and any other relevant knowledge that will help them succeed. Thus, the driver who has a competent and trustworthy partner is more likely to obtain the competitive edge required to win the race. If the results are close and the bettor is not sure who to support, this is a terrific strategy.

Study Car Performance

The car is as important as the driver. If the car doesn’t perform well or malfunctions, then there’d be no use for the talent of the driver. Thus, a gambler should also study car performance and make sure whether it is up to the mark.

Conclusion

Formula 1 betting isn’t new but the introduction of cryptocurrency in it has made it more accessible and convenient for bettors. To choose a betting platform for Formula 1, a bettor should pay attention to things like security, bonuses, payment options, and other features. To have better chances at winning a wager, gamblers should study the track, driver’s past and recent performance, consider other possibilities and spread their wagers on more than one option.