Best Formula 1 Betting Sites & Promotions for the Spanish GP

May 31, 2023

Was Monaco GP the best chance for another team to pick up a race victory this year? We believe it was, and Red Bull's dominance will likely continue in the Spanish GP.  With race week upon us, you probably have the urge to lock in your Formula 1 bets. 

Several sportsbooks are offering exclusive promos which you can grab for upcoming F1 races. Promos, including bet-and-get offers, bonus bets, and deposit bonuses, are perfect for upcoming races, especially when offered from the best sportsbook in the nation. 

These are the best F1 betting sites, picks, and promos for the next race on the F1 calendar:

Best Betting Promos & Bets for the Spanish Grand Prix

7:00 AM ET Jun 4
F1 Spanish Grand Prix 2023
Both Red Bull Cars on the Podium
✅ Verstappen has been remarkably consistent

✅ Perez needs to bounce back after a few poor performances

✅ Red Bull's reliability has been extremely good so far and is by far the best car on the grid.
Bet now
promo code
Gambling Problem? Call or TEXT 1-800-Gambler 21+
SportsbookPromotionPromo Code
🎁 DraftKingsBet $5 and Get $200 in Bonus Bets instantlySQORE
🎁 FanDuel2nd chance bet up to $1000NONE NEEDED - Use link
🎁 Sports IllustratedBet $20 Win $200 in Bonus BetsSQORE200
🎁 Bet365Bet $1 and Get $200 in Bet CreditsSQORE200
🎁 BetMGMFirst Bet Offer - Get Up To $1000 Back In Bonus BetsSQORE1000
🎁 CaesarsFirst Bet on Caesars up to $1,250 + Caesars Rewards CreditsSQOREFULL
🎁 BetRivers2nd chance bet up to $500SPORTS
🎁 TipicoGet up to $250 in bonusNone Needed - Use Link
🎁 PointsBet$250 Bonus - 5 x $50 Second Chance Bets5X50

Gambling problem? Call 1-800-GAMBLER CO, DC, IL, IN, LA, MD, MS, NJ, OH, PA, TN, VA, WV, WY
Call 877-8-HOPENY or text HOPENY (467369) (NY),Call 1-800-327-5050 (MA), 21+ to wager. Please Gamble Responsibly. Call 1-800-NEXT-STEP (AZ), 1-800-522-4700 (KS, NV), 1-800-BETS-OFF (IA), 1-800-270-7117 for confidential help (MI). 


Bet365 Sportsbook - Best F1 Betting Site & Promo Available

Bet365 Sportsbook offers fantastic promotions, particularly for new users, which gives all users a tremendous chance to convert a small bet into a bigger bonus bet. Bet365 is active in Colorado, Ohio, Virginia, and New Jersey, meaning you must reside or be present in one of these states to claim the Bet365 offer. Check below for complete bonus offer details. 


DraftKings Sportsbook F1 Bonus

DraftKings Sportsbook, one of the most recognizable sportsbooks in the United States, offers an easy-to-navigate web platform and mobile app that makes wagering a pleasant experience. Betting in FOrumal 1 at DraftKings is probably where you want to do it. Few or no other sportsbook can match the number of sportsbook bets you make at DraftKings. 

DraftKings has excellent bonuses and promotions, especially for new users will get pampered with. top offers when betting on Formula 1.


Caesars Sportsbook - First Bet On Caesars when betting on F1

Caesars Sportsbook is well-known in the US gaming market, offering new customers various promotions and incentives. When betting on Formula 1 at Caesars the first bet is on the house. If you lose, you get if paid back in bet credits. Use our unique promo code listed below to get the best offer.


FanDuel Sportsbook - No Sweat First Bet Formula 1 Promo

FanDuel has a special offer for its new users, a bonus bet if your first bet is lost. To qualify for this offer, F1 fans must sign up for a new FanDuel account using our promo link below. Simply make your first no-minimum deposit and place a wager of $10 or more. If you don’t come out as a winner, you will receive bonus bets to replace the amount.


BetMGM Sportsbook - First bet paid out in Bonus Bets

BetMGM Sportsbook boasts a great platform that makes your sports betting experience fun. To be clear, if you. do not have a Bet MGM account already, go ahead and get one ASAP. If you want to be serious about Formula 1 betting. Then you need. to be registered on this platform. Use Sqores unique promo code. to lock in the best bonus.


SI Sportsbook Formula 1 Promo

SI Sportsbook’s new bettors can claim a sweet Bet and Get an offer with a small first bet and a larger payout. The only downside is that SI Sportsbook is currently only available in a few US states, but they are likely to expand fast and hopefully soon. 


Tipico Sportsbook F1 Betting Bonus

Tipico Sportsbook has its roots in Germany, and if you are an F1 fan you know that Germany has produced some of, if not, the best F1 drivers. Hence Tipico are serious about their F1 betting and this is a recommended sportsbook for betting on the F1 series. 


BetRivers Sportsbook - Second Chance Free 

Unlike the sport of F1, where you never get a second chance, BetRivers Sportsbook offers precisely that for its new customers. This Kambi-hosted platform provides a range of markets for Formula 1 betting and is one of many sportsbook recommended at Sqore.


Unibet Sportsbook F1 Live Betting made fun

Unibet Sportsbook has been around for over 20 years online and their live betting product is amazing. When betting on any F1 race there will be plenty of live betting markets to choose from and what makes it extra fun is that you can bet on things happening within seconds. Live speed betting made fun at Unibet!


PointsBet F1 Promo

The Aussie-founded sportsbook PointsBet is the host of one of the more popular races on the F1 schedule. The race in Melbourne is usually an indicator of how the season will progress, and from a betting, perspective is when things start to get interesting. At PointsBet you will get a perfect star as their welcome bonus is great when placing multiple bets on one event.  

What makes these the best online betting sites for F1?

You can rest assured that all sportsbooks recommended on have been scrutinized before getting listed and even better we only work with licensed and regulated US sportsbooks. 

But if you want to do the homework yourself, these are ten vital factors to consider before choosing your sportsbook to register and bet with. 

  1. Reputation and Trustworthiness: This is the first thing to consider when selecting an online betting site. Choose a site that has a strong reputation and has been around for several years. Look for licenses and regulations, too, as they provide protection and recourse should something go wrong.
  2. Security: Look for a site with high-level encryption technology to protect your personal and financial information. Check if the betting site has a secure URL (https://).
  3. Betting Markets: The best betting sites for Formula 1 should offer a broad range of markets. These could include outright winners of races and championships, podium finishes, fastest laps, qualifying positions, and more.
  4. Odds and Pricing: Check the odds offered by different sites. A good betting site will provide competitive odds, ensuring you get the best return for your bets.
  5. Live Betting and Streaming: Some of the best betting sites offer live betting, allowing you to place bets as the action unfolds. Sometimes, they may also offer live streaming of races, which is a big plus for F1 fans.
  6. User Experience: The site should be easy to navigate, with a clear, intuitive layout. The process should be straightforward, whether you're placing a bet, checking odds, or withdrawing your winnings.
  7. Customer Service: Good customer service is essential. Check if the betting site offers support through multiple channels (e-mail, phone, live chat) and whether they respond promptly and professionally to queries or issues.
  8. Payment Options: A great online betting site will offer various payment methods, such as credit/debit cards, e-wallets (PayPal, Skrill), bank transfers, and possibly even cryptocurrencies.
  9. Bonuses and Promotions: Many betting sites offer welcome bonuses to attract new customers. These can include matched bets, free bets, or deposit bonuses. Regular promotions for existing customers are also a good sign.
  10. Mobile Compatibility: If you enjoy betting on the go, look for a site with a well-designed, fully functional mobile app or a mobile-optimized website.

Formula 1 Overview

Formula One is a world-renowned international open-wheel motor racing championship sanctioned by the Fédération Internationale de l'Automobile. The word ‘Formula’ in the name refers to the list of rules to which all vehicles in the race must conform. The F1 season takes place annually and features a series of races called Grands Prix, held at various locations throughout the world.

The 2023 season is the 74th edition of the competition involving 20 drivers from 10 participating constructor teams. There are 23 rounds of the Grand Prix this season.

The competition awards two championships, the World Drivers' Champion for individual drivers and the World Constructors' Champion for teams. Racers are competing to claim the title of World Champion from 2021 victor Max Verstappen. They may need to strive harder though, as Verstappen currently sits comfortably far ahead of other racers in the F1 2022 season.

How to pick the best online sportsbook for Formula 1 betting?

✅ Secure and safe payment methods
✅ Clear and concise terms and conditions
✅ Read reviews
✅ Check how fast the payouts and deposits go through

How to sign up on a betting site?

Signing up is a fairly standard procedure. You will need to provide your full name, e-mail, phone number, date of birth, and the last four digits of your social security number. You will also need to choose a username and a strong password for the account and answer some security questions. 

Most sportsbooks will also ask for the state in which you are currently residing or ask you to turn the geolocation plugin on.

Once the account is registered, you might need to make your first deposit. Most sportsbooks accept all forms of payment including credit cards, debit cards, online banking, and others.

Types of Formula 1 Bets

Formula 1 bets can be quite different from the usual sports like basketball and hockey. Here are the most common bets used in Formula 1 by sportsbooks.

✅ To Win bets

Simply bet on which driver you think will win the race.

✅ Podium Finish

You place a bet that a driver will be on the podium, doesn’t matter if it’s the first, second or third.

✅ Driver Matchups

Choose which of two drivers will finish higher in an upcoming race.

✅ Prop bets

You can wager that a proposed event will either happen or not happen.

✅ Pole Position

Bet on which driver will fill the first slot in the starting grid.

Future bets

This is usually betting on which driver or which will be awarded Champion at the end of the season.


Is there a live betting option for Formula 1?

Some sportsbooks offer live betting for Formula 1, check out their websites for more information.

How can I use the bonuses?

Follow the promo link to each sportsbook, some might require you to enter the promo code. You can only use the bonuses once.

Where can I find more information about Formula 1?

You can find more information on their Formula 1 official website. You can also stay tuned to our site to find F1 predictions and picks!

Gus Anderson
Gus Anderson is a gambling wizard. As a kid he dreamt about becoming a Tennis, Hockey and Golf professional but ended up as a gambling professional with focus on both sports & casino.