How to use online betting platforms to bet on Formula 1

Formula 1 racing is one of the most thrilling sports worldwide. People enjoy watching the drivers driving at neck-breaking speeds while maintaining unbelievable balance.

And recently, many fans have realized they can get more from watching the races by betting on them. Punters using sites like online Bet365 enjoy betting on the races and follow up the live stats. We show you how you can also use online betting sites to place wagers in a few simple steps:

Betting on Formula 1

Do you enjoy watching F1 racing? Do you want to make money from placing bets on the races? If your answers to both questions are “yes,” you have what it takes to delve into this exciting opportunity as follows:

1.   Choose a Reliable Betting Site

The first and one of the most crucial steps in this journey is choosing a good betting site. But how do you choose one? Consider the factors below:

• Does the site offer Formula 1 racing? Not all betting sites offer F1 betting markets, and you should thus focus on those that do.
• How many F1 markets does the site offer? F1 races have several outcomes besides the race winner. Look at the options available on the site. The more they are, the easier it is to place lucrative wagers, as you can combine several outcomes.
• Are the odds competitive? Odds determine the overall payout. A site with good odds enables you to make more from your wagers than one that caps its odds. Focus on the higher-paying sites.
• Does the site have a license? A licensed site follows strict guidelines regarding operations and payouts. Thus, choose sites with valid licenses from reputable licensors to protect your rights.
• Is the site reputable? Prior punter experiences will affect yours. You should consider what previous users have shared regarding the site. And you should lean on the sites with positive feedback.
• Are the payment methods convenient? You will need to deposit and withdraw money on the site often. You should thus consider the available payment methods by reviewing their speeds, costs, and limits. For example, if you prefer anonymity, using cryptocurrencies would benefit you.

In addition to all the factors above, you can also consider the site’s interface, whether it has an app, if live streaming is available, and how fast the site loads. All these aspects will affect your experience, which ties to your profits.

2.   Study the Formula 1 Market

Before placing any F1 bets, you must understand the sport in the following ways:

• Watch enough races to get the hang of things – how do drivers prepare? How do they race? What determines the winner?
• Follow F1 news to understand any changes that can affect races, e.g., injuries, changes in management, weather, etc.
• Use statistics and present news to gauge the likely winners.

While gut feelings matter, you should not use them to determine the winning bets. Instead, rely on facts as these are more reliable.

3.   Place Your Bets

Once you have a good site and have researched a race well enough, you can put money on the line. Remember that placing wagers is just like investing, and you should thus use caution. Start by setting a strict budget for the wagers before proceeding as follows:

• Load money into your account, e.g., via card or cryptocurrency,
• Log into the betting site and select your prediction,
• Place your wager and receive a confirmation prompt or message, and
• Wait for the race to end – if you win, you will receive the earnings in your wallet.

Many sites have live streaming options, enabling you to follow the races regardless of location. So, you will know whether you have won even before checking your balance. Moreover, many also have live betting, allowing you to place more wagers as the race ensues, capitalizing on arising opportunities. Remember to bet on Formula 1 responsibly, for enjoyment and within your means.