Motor sports have skyrocketed in popularity over the last few years, which has brought mainstream sports fans to F1 betting and NASCAR betting through pop culture, including the Daytona 500. We'll take a look at how sportsbooks operate when it comes to motor sports, how bettors can wager on racing events and go over some of the best strategies and tips when it comes to racing betting.
Finding the best sportsbook promos for motor sports betting
Here's a look at some of the promotions going on at top sportsbooks for fans interested in getting into motor sports betting.
Bet $5, get $200 in bonus bets instantly
Up to $300 back in bonus bets every day for 10 days
First Bet Matched up to $250 as a Bonus Bet, Win or Lose
Up to $1,500 in bonus bets if your first bet loses
Bet $5, get $200 in FanCash
Bet $10, get $365 in bonus bets win or lose
The DraftKings bonus code, Fanatics Sportsbook and bet365 are all offering "bet and get" promotions where users get bonus bets after wagering $5+ or $10+. Sometimes the sportsbooks require you to win your first wager to secure bonus bets, and sometimes they do not. Currently, none of these three requires the first bet to win.
The FanDuel bonus code and BetMGM are also giving out bonus bets, but in a different way. BetMGM covers a user's first bet up to $1,500 with bonus bets if that first bet loses, but users must wager at least $1,500 to be eligible for the full amount. FanDuel has shifted its promotion to up to $300 back in bonus bets if your wager loses every day for 10 days after account creation.
Caesars Sportsbook offers a first bet match up to $250 as a bonus bet, win or lose. The first bet must have minimum -500 odds.
Before you get into motor sports betting, it's important to find a sportsbook that consistently provides odds for races. There's always value in shopping around multiple sportsbooks for the best lines, but some platforms do not offer extensive betting markets for motorsports compared to others.
What do motor sports odds mean?
When it comes to motorsports and racing markets, odds are displayed and read similarly to how they are for most sports. Let's say a driver is priced at -150 to win the Dutch Grand Prix on Aug. 31, and the next best driver has +200 odds. That means the driver at -150 is a decent favorite to win, and you'd have to risk $150 to win $100. The second driver is a contender but is unlikely to win in the eyes of oddsmakers, but you'd win $200 after risking $100 if he does indeed pull off the upset.
When you can bet on motor sports odds
The racing schedule varies across NASCAR, F1 and IndyCar but there are usually weekly races with occasional breaks. NASCAR has multiple series, so there's usually at least one race across the series every weekend. F1 has a set calendar for the year with some breaks in between, but there are junior Formula racing series which might be going on in some of the gaps on the main circuit.
Typically, the actual race will take place on a Sunday. There will be practice on either Thursday or Friday, with a qualifying event to set up the grid on either Friday or Saturday depending on the race schedule. Qualifying usually takes place the day before the race. Bettors can wager on qualifying outcomes as well, and those results will shift the race odds.
Biggest races for motor sports betting
Arguably, the biggest sporting event in the racing world is the Indianapolis 500, which is traditionally held on Memorial Day weekend. That's the premier IndyCar event.
NASCAR has several big races, with the Daytona 500, a Crown Jewel event, regarded as the richest race on the circuit. The Coca-Cola 600 at Charlotte and the Brickyard 400 are also considered Crown Jewel events. Talladega Speedway is a widely known track thanks to the movie "Talladega Nights: The Ballad of Ricky Bobby", but it is not a Crown Jewel event.
Every F1 race has its unique twist, as the tracks are different in each city, but Monaco is considered the biggest spectacle of the season. The race itself is somewhat mundane, as there's little opportunity for drivers to pass each other. The British Grand Prix at Silverstone, the Italian Grand Prix at Monza and the Singapore Grand Prix are considered some marquee events on the F1 calendar. The Abu Dhabi Grand Prix is also a high-profile event as it is typically last on the calendar and could decide who wins the drivers championship and constructors championship. F1 has also added special events like Miami and Las Vegas.
Types of bets and how motor sports betting works
Like all sports betting markets, there are a variety of ways prospective bettors can wager on motor sports. Here's a look at some of them.
This market is straightforward. Users are betting on which driver will win the event. There are also markets here for which team/constructor car will win the event, which will have multiple cars involved.
Motor sports betting offers users the ability to wager on drivers or teams having a certain placement or finishing within a certain range. For example, you can wager on drivers to place in the top 5 or top 10 of the event. You can do the same with teams/constructors.
While it rarely occurs in racing, there's a possibility of multiple drivers tying for a position. In this case, technically there are multiple winning bets but sportsbooks grade dead heats differently and the payouts can be different. If FanDuel declares a dead heat, half the stake is applied at the original odds and half the stake is lost. If there are more than two dead heats, the stakes are proportioned accordingly.
This is where bettors can place a wager on which drivers will finish first and second. Both drivers must finish in the correct order for this wager to be paid out as a win. For example, you can wager on Max Verstappen and Lando Norris to finish first and second, respectively in a Dual Forecast market in F1 betting. However, if Verstappen finishes second and Norris finishes first, your bet will lose even though you did correctly pick the top two drivers for the race.
This might not be as common in motor sports but can be applied to racing betting. An each way bet basically places two wagers: a driver to win and to finish above another position. If the driver wins, both bets get paid out. The same applies for team bets in this market.
This is prevalent in NASCAR and IndyCar, which has more laps than Formula One. You can bet on which driver or team will be in the lead after 25 laps, 50 laps, 100 laps and so on. These are the stages.
Sportsbooks will put two drivers or two teams against each other and bettors can choose which one will place higher. For teams, the bet is usually on the highest-placed driver for that particular team. For example, if a market was being offered on F1 to see if Ferrari or Mercedes placed higher, a winning Ferrari driver would give Ferrari bettors the win even if the Mercedes drivers combined to finish higher than the Ferrari drivers.
This is offered in NASCAR. Sportsbooks will put a handful of drivers in groups and ask which will be the winner of the group.
This is also specific to NASCAR, where you can bet on whether the winning driver will be in a particular car manufacturer, like Ford or Chevy. It's more applicable here since there are only two drivers on each F1 constructor, while car brands can span several NASCAR teams.
This is similar to Outright Winner for drivers but applies to teams and constructors.
Bettors can wager on who will take pole position and which cars will be on pole. These are determined during qualifying racing, which typically takes place the day before the race. You can also bet on markets offering odds for who will finish in the top 5 or top 10 in qualifying, though these necessarily aren't available for every race. The results of qualifying will often shift the race odds.
In most cases, F1 futures usually apply to the next race. However, you can bet on season-long futures for the drivers and constructors championships. The drivers championship is straightforward as it will be given to the driver who accumulates the most points over the season. The constructors championship takes into account the points for both team drivers. Only the top 10 finishers in each race score points, and those points are tallied over the season. The winning driver can be part of a constructors championship, but that's not always the case.
NASCAR has different portions of the season. There are also different circuits like the Cup Series, the Xfinity Series and Truck Series. You can bet on marquee races for NASCAR in the futures market, and you can also wager on winners for these particular series.
The major marquee futures market for IndyCar is the Indianapolis 500. Other than that race, there are season-long championship odds for the circuit.
Can you parlay wagers in motor sports betting?
While parlaying is generally not advised, as you don't get appropriate odds from sportsbooks that correspond to the actual chance of your bet winning, you are able to parlay outcomes in motor sports betting. While you can't pick multiple drivers to win an event in a parlay, you can pick multiple drivers to finish in the top 5 or top 10. You can also pick teams to finish in the top 5 or top 10.
