Bet on F1: How to Bet on F1 in 2024

10 April 2024

In this article, you will learn everything you need to know about how to bet on F1. All the best betting sites in Nigeria offer markets on F1, meaning you should be able to put your newfound knowledge to good use.

Betting on F1

F1 is the most prominent type of motor racing and the highest class for four-wheel vehicles. There are plenty of opportunities to bet on F1 as the Grand Prix races are followed by millions of fans worldwide.

The F1 – or Formula 1 – races take place in different countries all around the world during the season, so the local public get a chance to see their favourite drivers close up. This includes Monaco, Australia (Melbourne), Singapore, and more. As a huge standard of competition, F1 betting markets are very popular, and races are broadcast globally too.

Bet on F1

How to Register on a Betting Site and Bet on F1

Before you can bet on F1, you must sign up to an online sports betting site. The process is quick and easy, and there are plenty of good online bookmakers in Nigeria to choose from.

Selecting a Betting Site

All new bettors should do a little research into betting sites before signing up for a customer account. Find out whether they offer various F1 betting markets – and even if they have any related bonuses to claim.

Registering with an Online Bookmaker

Registering at an online betting platform is a simple process. Usually, you will be able to activate a welcome bonus too. Just follow the signup instructions – entering your personal details – and confirm your account.

Deposit Funds

An online betting site sometimes offers free bets as a welcome bonus. However, you will still need to deposit money into your new customer account. You should choose payment methods, depending on what suits you best. Once you have deposited your money, you can start betting on F1.

Bet on F1

Once you have your customer account set up and funds deposited, you can bet on F1. Take a look at the different markets to see which bet you like the look of. F1 betting is straightforward. Just pick your bet and click on the odds next to it. The bet will then be automatically added to your betslip, where you must decide on a stake and place your wager.

The Different Types of F1 Bets

Some of the best betting sites will have many choices regarding what you can wager on with F1. Some markets are more forthright than others, but you should be able to find something that stands out.


Props are smaller bets that do not have anything to do with who wins the races but concentrate on the details. An example of an F1 bet might be the number of laps a driver might lead in the race.

Podium Finish

The F1 podium is for the drivers who finish first, second and third in an individual Grand Prix. So, here you would be betting that a driver finishes in the top three positions.

Driver Matchups

Rather than wagering on the outcome of a race, you could predict who will finish first between two selected drivers. They would not have to win the race for your bet to win – just finish in front of the other driver.

Pole Position

All F1 races have a qualifying day in which the drivers complete a number of laps of the circuit to see who can get the quickest time. The fastest starts at the front of the grid for the Grand Prix. This is called pole position, and you can wager who you think will be awarded this place.


A Hexafecta bet is where you predict who the top six drivers will be in a selected race. You will usually get good odds as it is a tough bet to get right.

Outright Winner

Outright Winner is a highly favoured market when it comes to F1 betting. It is elementary as you are predicting who will win a Grand Prix.

F1 Drivers’ Championship

This is a season-long bet in which you predict the winner of the entire competition. Drivers are given points for each race, then totalled up as the season progresses. The winner is the driver who ends up with the most points.

Constructors’ Championship

Similar to the previous bet, this market concentrates on the constructors rather than the driver. Each constructor has two drivers in each Grand Prix, so their points are added throughout the season to determine the winner.

F1 Betting Odds Explained

F1 betting odds work just like other sports. The prices indicate the chance of an event happening or not. The shortest odds are for the favourites to win, and the long odds are for the underdogs.

For example, Lewis Hamilton might be priced at 3/1 to win the Bahrain Grand Prix. It means that if you bet N100 on Hamilton winning the race, you would receive N400 back if he was successful. The breakdown would be N300 winnings plus your original N100 stake.

bet on f1

Strategy When Betting on F1

As with betting on any sport, you should plan your F1 betting strategy to give yourself a better chance of winning.

Know the Sport Well

You should make sure that you know about the sport of F1 before you start betting. This is how you can place informed bets and know that you are betting on something you are familiar with and will not be surprised by any developments.

Be Rational

Always bet with your head rather than your heart. Make a careful choice when it comes to selecting your bets. Even if you like a particular driver, you should only bet on them if you think they will win.

Know the F1 Betting Markets

This goes hand in hand with knowing the sport well. Never bet on a market you do not fully understand, as you could misinterpret what you are betting. Only make a selection on something you comprehend.

Be Aware of Elements

All kinds of details can play a part in F1 races. So you should be aware of things like the weather conditions and how different drivers might react to the forecast. Certain drivers may prefer particular courses, so do your research and wager accordingly.

Know Your Drivers

In addition to knowing if a driver likes a track, you should find out as much as possible about them. All this knowledge can be used to pick your selections better. This also goes for the constructors and the cars themselves.

Set a Budget

You should always bet responsibly. Never chase winning bets and always bet an amount you would be willing to lose. Betting is supposed to be a fun way to pass the time, not a complication.

Top Sites to Bet on F1: Current Offers and Bonuses in Nigeria

Below, you can find the best betting sites and their respective welcome offers for residents in Nigeria.

Betting SitesBonusesCode
100% welcome bonus +50% casino bonus
300% up to ₦189 280Bet on 1xbet
betking logo
Bet and Get ₦25,000 in Free betsBONUSBET
Offers 100% bonus up to ₦250,000PROMOMAX
300% bonus up to ₦500,000Bet on N1bet
100% bonus of up to ₦100,000BEMYBETNG
Get up to 600% Acca BonusMAXPROMO
100% bonus up to ₦50,000Bet on 22bet
Pari Match
Parimatch logo
100 bonus up to ₦150,000NGPARI
bet365 logo
Up to $30 in Bet Credits*
(Key Terms: Min deposit requirement. Bet Credits are available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply.)
Code: BETMAX365
(The bonus code BETMAX can be used during registration, but does not change the offer amount in any way)

How We Selected Our Bookmakers for F1 Betting

We compared all the top betting sites in Nigeria to decide who we think is worthy of recommendation. You can see above what you can get just for signing up with a bookmaker, but there is more to it.

Betting Offers

We would be lying if we said we took no notice of the offers. But we consider all the offers, not just the welcome bonus. Existing customers should be looked after too.


This is an obviously important part of the betting site selection process. Many of the odds will look very similar, but the tiniest differences can bring in more significant winning returns.

Betting Markets

We chose our betting sites by looking at the different markets offered for F1, and there was a good selection of betting opportunities.

Live Streaming

Not all betting sites will offer live streaming of events. So, it is always a good sign if you find a bookmaker that provides this feature for its customers. Being able to watch the action as it happens can really help with your live betting.

Licensed Bookmakers

While this may seem obvious, ensure your chosen site is fully licensed and regulated, so your funds and betting activity are secure.

F1 Competitions to Bet On

The F1 Championship is the only competition to bet on in this class of motor racing. There are many other types of car and motorcycle competitions available to wager on, but this is the only one when it comes to F1.

As you can see above, there are lots of betting markets to choose from for every race in the season.

Frequently Asked Questions About F1 Betting

Here are some commonly asked questions from F1 betting fans.

How can I bet on F1 online?

Betting on F1 is easy. Just sign up for a customer account with an online bookmaker and explore the markets. Then follow the clear instructions to place your wager.

What is the easiest F1 bet?

No bet is guaranteed to win. But the simplest bet to understand for Formula 1 is predicting the winner of the race.

Can I bet on F1 from my phone?

Yes. Most online betting sites allow mobile betting, and you may even be able to download an app for quicker access.

Does every online bookmaker cover Formula 1?

F1 is incredibly popular that it would be a surprise if your chosen bookmaker did not cover it.