Formula 1 Sports Betting Promotions

October 13, 2022

Formula 1 is probably the most popular motorsport and definitely the highest class of international racing for open-wheel single-seater formula racing cars.

Several sportsbooks are offering exclusive promos which you can grab for upcoming F1 races. Promos including risk-free bets and deposit bonuses are perfect to take advantage of for upcoming races, especially when they are offered from the best sportsbook in the nation. 

Keep scrolling to find the best promos for the next race.

SportsbookPromotionPromo Code
🏅 Bet365Bet $1 Get $200None Needed - Use Link
🏅 DraftKings Sportsbook20% up to $1,000 None Needed - Use Link
🏅 Caesars SportsbookFirst Bet On Caesars Up To $1,250SQOREFULL
🏅 FanDuel SportsbookNo Sweat First Bet Up To $1,000None Needed - Use Link
🏅 BetMGM Sportsbook$1,000 Risk-Free BetSQORE1000
🏅 Fubo Sportsbook$1,000 Risk-Free Bet + 1 Month Fubo TVSQORE1000
🏅 SI SportsbookBet $20 Win $100GET100
🏅 Tipico Sportsbook$100 sign-up bonusNone Needed - Use Link
🏅 BetRivers SportsbookSecond Chance Free Bet Up To $500SPORTS
🏅 Betway Sportsbook$250 Risk-Free BetNone Needed - Use Link
🏅 MaximBet Sportsbook100% up to $1,000None Needed - Use Link
🏅 PointsBet Sportsbook$2,000 Risk-free BetSQORE2000
🏅 Unibet SportsbookUp to $500 Risk-Free BetNone Needed - Use Link

Bet365 Sportsbook - Bet $1 Get $200

Bet365 Sportsbook offers fantastic promotions, particularly for new users, such as Bet $1 Get $200. All you need to do to qualify for this bonus is sign up using the link below and make a minimum $10 first deposit. To receive $200 in Free Bet Credits, a wager of $1 or more is required. Remember that you must redeem the offer within 30 days of creating your account.

Promo Offer:Bet $1 Get $200
Promo Code:None Needed – Use Link
Eligible States:CO, NJ

Bet $1 Get $200

DraftKings Sportsbook - 20% up to $1,000

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.

DraftKings has great bonuses and promotions, especially for new users, with their 20% up to $1,000 deposit bonus. To claim this bonus, all you have to do is sign up using the link below and make your first deposit and they will match 20% of it, up to $1,000. Their minimum deposit is set at $20.

Promo Offer:20% up to $1,000
Promo Code:None Needed – Use Link
Eligible States:AZ, CO, CT, IA, IL, IN, KS, LA, MI, NJ, NY, PA, TN, VA, WY, WV.

$1000 BONUS

Caesars Sportsbook - First Bet On Caesars Up To $1,250

Caesars Sportsbook is well-known in the US gaming market, and they offer new customers a wide variety of promotions and incentives.

Caesars will match the initial wager of new customers up to $1,250, plus give them 1,000 Tier Credits and 1,000 Reward Credits®. However, you must register using our promo code SQOREFULL and make your first wager of at least $10 to be eligible for this promotion.

Promo Offer:First Bet On Caesars Up To $1,250
Eligible States:AZ, CO, IA, IL, IN, LA, KS, NJ, NY, MI, TN, PA, VA, WV, WY


FanDuel Sportsbook - No Sweat First Bet Up To $1,000

FanDuel has a special offer for its new users, a bonus of up to $1,000. 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 free bets to replace the amount.

Promo Offer:No Sweat First Bet Up to $1,000
Promo Code:None Needed - Use Link
Eligible States:AZ, CO, CT, IA, IL, IN, KS, LA, NJ, NY, MI, PA, TN, VA, WV, WY.

UP TO $1,000

BetMGM Sportsbook - $1,000 Risk-Free Bet

BetMGM Sportsbook boasts a great platform that makes your sports betting experience a fun one.

It currently offers a $1,000 Risk-Free Bet promotion exclusively for new users. Simply enter the code SQORE1000 when you sign up and your first bet will automatically be risk-free up to $1,000. Note that the sportsbook has a minimum deposit of $100.

Promo Offer:$1,000 Risk-Free Bet 
Promo Code:SQORE1000
Eligible States:AZ, CO, DC, IA, IL, IN, LA, NJ, MI, KS, TN, VA, WV, WY


Fubo Sportsbook - $1,000 Risk-Free Bet + 1 Month Fubo TV

You can have your first bet 100% risk-free up to $1,000 with Fubo Sportsbook when you sign up using our promo code. 

This is how it works - if your first bet wins, it is paid out. If it does not, it is considered a free bet. What’s more, you also can enjoy a one-month free Fubo TV Subscription using this promo code: SQORE1000.

Promo Offer:$1,000 Risk-Free Bet + 1 Month Fubo TV
Promo Code:SQORE1000
Eligible States:AZ, IA

SI Sportsbook - Bet $20 Win $100

SI Sportsbook’s new bettors that place a $20 bet on a winning team will get $100 in free bets. All you need to do is to click the link below, sign up to SI Sportsbook, and enter the promo code GET100.

Promo Offer:Bet $20 Win $100
Promo Code:GET100
Eligible States:CO, VA, MI

Bet $20 Win $200

Tipico Sportsbook - $100 sign-up bonus

Tipico Sportsbook offers a generous $100 welcome bonus to new sports bettors in New Jersey and Colorado, which you can use to bet on any upcoming race. Tipico will match your first deposit up to $100 as a welcome bonus if you sign up using our promo link and make your first deposit.

Promo Offer:$100 sign-up bonus
Promo Code:None Needed - Use Link
Eligible States:CO, NJ

$250 BONUS

BetRivers Sportsbook - Second Chance Free Bet Up To $500

BetRivers Sportsbook offers an exclusive promo to F1 fans! Newcomers can wager by taking these simple steps. Sign up for an account, deposit $10 or more, and use the promo code below. If you lose, you will get free bets equal to your loss, up to $500 (maximum of $100 in NY).

Promo OfferSecond Chance Free Bet Up To $500
Promo CodeSPORTS
Available StatesAZ, CO, IA, IL, IN, LA, NY, MI, PA, TN, VA, WV.

UP TO $500

Betway Sportsbook - $250 Risk-Free Bet

Betway Sportsbook is currently running an exciting promotion for new customers. To take advantage of this offer, you must first create an account with Betway by clicking the link below. Following your registration, you must deposit at least $10 and wager at least $0.10. When creating a new account, keep in mind that you must be at least 21 years old.

Promo Offer:$250 Risk-Free Bet
Promo Code:None Needed – Use Link
Eligible States:CO, IA, IN, NJ, PA

UP TO $250

MaximBet Sportsbook - 100% up to $1,000

MaximBet Sportsbook is well-known for offering exciting promotions for new users, such as the "100% up to $1000." To take advantage of this offer, please register using the link provided below. Then, make a minimum first-time deposit of $10 to qualify for a 100% match up to $1,000 in Free Bet Credits. Please keep in mind that the match bonus will only be available on your first qualifying deposit.

Promo Offer:100% up to $1,000
Promo Code:None Needed – Use Link
Eligible States:CO

PointsBet Sportsbook - $2,000 Risk-Free Bet

PointsBet Sportsbook  is a premium sportsbook with a great web platform and mobile app that makes your sports betting experience a pleasant one. Requiring a minimum deposit of only $5, they are one of the best at offering promotions and bonuses, especially to their new players with their risk-free bets up to $2,000.

Simply sign up to their website and enter the code below. Your first bet will be risk-free up to $1,500 if it is a PointsBetting Wager and you’ll get $500 back if you lose on your first fixed odds bet.

Promo Offer:$2,000 Risk-Free Bet
Promo Code:SQORE2000
Eligible States:CO, IA, IL, IN, NJ, NY, PA, VA, WV


Unibet Sportsbook - Up to $500 Risk-Free Bet

Unibet Sportsbook is providing a special offer for new users. Each eligible state has a different reward, ranging from $100 to $500, with Arizona having the Bet $50 Get $200 in Free Bets promo instead.

To take advantage of these offers, please register using the link provided below. Once registered, all you have to do is verify your account and the bonus will be credited to your account immediately. Please ensure that you are at least 21 years old when registering.

Promo Offer:Up to $500 Risk-Free Bet
Promo Code:None Needed – Use Link
Eligible States:AZ, IA, IN, NJ, PA, VA 

Up to $500

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 2022 season is the 73rd edition of the competition involving 20 drivers from 10 participating constructor teams. There are 22 rounds of Grand Prix this season, which spans from the Bahrain GP on March 20 to the Abu Dhabi GP on November 20. 18 GPs have already been held, with the latest being in Japan.

The competition awards two championships, the World Drivers' Champion for individual drivers, and the World Constructors' Champion for teams. Racers are currently 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.