Best F1 Betting Sites & Promos May 2026: Get $7.6K+ in Bonuses

Comparing the best F1 betting promo codes

	BetMGM Sportsbook	Caesars Sportsbook	bet365 Sportsbook	FanDuel Sportsbook	DraftKings Sportsbook
Compare	Pin	Pin	Pin	Pin	Pin
Welcome bonus	$1,500 First Bet Offer + $50 BetMGM Rewards Points	Bet $1, Get (10) 100% Profit Boosts	Bet $10, Get $200 Win or Lose or $1,000 First Bet Safety Net	Bet $5, Win $150	Bet $5, Get $100 Instantly
Promo code	COVERS50	COVERSBONUSDYW	COVERS	Applies automatically	Applies automatically
Bonus type	Second chance bet	First bet match	Bet and get	Bet and win	Bet and win
Bonus form	One (< $50) or five (> $50) bonus bets	10 100% profit boosts	$200 in bonus bets	$150 in bonus bets	four $25 bonus bets
Wagering period	7 days	14 days	30 days	7 days	7 days
Min. deposit	$10	$10	$10	$5	$5
Covers BetSmart Rating	⭐ 4.8/5	⭐ 4.7/5	⭐ 4.7/5	⭐ 4.7/5	⭐ 4.6/5

Top F1 betting promo codes for new users

Consult the table below for the top new-user F1 promos in May 2026: 

Where can I gamble on F1? Top five F1 betting sites reviewed

F1 has become one of the fastest-growing sports in the U.S., thanks to the Netflix docuseries 'Drive to Survive'. Sportsbooks are keeping up by offering the following promos to new F1 bettors:

What makes BetMGM the best F1 betting site?

$1,500 First Bet Offer + $50 BetMGM Rewards Points

Gambling problem? Call 1-800-GAMBLER or 1-800-MY-RESET (Available in the US) Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA), 1-800-NEXT-STEP (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR) 21+ only. Please Gamble Responsibly. See Sports Betting | Legal Online Sportsbook at BetMGM | BetMGM for Terms. First Bet Offer for new customers only (if applicable). Subject to eligibility requirements. Bonus bets are non-withdrawable. In partnership with Kansas Crossing Casino and Hotel. This promotional offer is not available in DC, Mississippi, New York, Nevada, Ontario, or Puerto Rico.

COVERS50

Claim $1,550

BetMGM stands on the top of the podium on our list of the best F1 betting site, thanks to its comprehensive Formula One coverage, providing competitive odds for every 2026 Grand Prix race, Drivers Championship and World Championship odds, and special markets. We believe you'll be hard-pressed to find an online sportsbook that offers a more well-rounded Formula One betting experience in 2026. 

Additionally, BetMGM's welcome offer — $1,500 in bonus bets — is among the best Formula One betting promotions new users promotions can secure this racing season. You just need the BetMGM bonus code  'COVERS50' and a minimum $10 initial deposit to qualify. If your wager loses, BetMGM will refund 100% of your qualifying stake, up to $1,500. The bonus is issued in 20% denominations for wagers of $50 or more, meaning if you wagered the full $1,500 and lost, you'd receive five (5) $300 bonus bets. If your qualifying wager is $49 or less, you'll get a single bonus bet. Bonus bets are not included in any winnings and expire seven days after issuance. Bonus bets expire after seven days. Regardless of the outcome, you'll get $50 in BetMGM Reward Points instantly.

2. FanDuel F1 betting site

Bet $5, Win $150

New customers only. Deposit min. $5. Place your first $5 bet and receive $150 in bonus bets if it wins.

Claim $150

It is no surprise that FanDuel ranks highly on this list, as the operator is one of the top betting options in the country for F1 bets. Whether you're drawn to its user-friendly layout, fantastic sports betting app, great 'Live' section, or F1-specific promos and boosts — which never require a FanDuel promo code to claim — FanDuel Sportsbook has a lot to offer Formula One bettors in 2026. 

Check out our FanDuel Sportsbook Review for an in-depth analysis.

3. DraftKings F1 betting site

DraftKings finds itself among the top F1 betting sites in 2026. The online sportsbook typically offers juicy odds and parlay boosts for every Grand Prix event, allowing you to score lucrative profits from your regular bets on F1. We also appreciate how DraftKings is usually one of the first operators in the market to post its Formula One betting odds, providing an opportunity to get more favorable odds on a race's outcome. 

Our DraftKings promo code review outlines everything you need to know about the operator. 

DraftKings responsible gaming  

GAMBLING PROBLEM? CALL 1-800-GAMBLER or 1-800-MY-RESET, (800) 327-5050 or visit gamblinghelplinema.org (MA). Call 877-8-HOPENY/text HOPENY (467369) (NY). Please Gamble Responsibly. 888-789-7777/visit ccpg.org (CT), or visit www.mdgamblinghelp.org (MD), 1-800-981-0023 (PR). 21+ and present in most states. (18+ DC/KY/NH/PR/WY). Void in NH/OR/ONT/PR. Eligibility restrictions apply. On behalf of Boot Hill Casino (KS). Pass-thru of per wager tax may apply in IL. 1 per new DraftKings customer. $5+ first-time bet req. Max. $100 issued as non-withdrawable Bonus Bets that expire in 7 days (168 hours). Stake removed from payout. Terms: sportsbook.draftkings.com/promos. Ends 5/31/26 at 11:59 PM ET.

4. Caesars Sportsbook F1 betting site

Bet $1, Get (10) 100% Profit Boosts

Code: COVERSBONUSDYW

Claim Now

Caesars Sportsbook offers one of the best sportsbook rewards programs in the country — Caesars Rewards — for F1 bettors. You can turn every real-money Formula One bet into points that can be later redeemed for hotel stays, dining, and more at various Caesars locations, including Las Vegas, which is home to one of the biggest Grad Prix on the F1 racing season schedule. 

Read our Caesars Sportsbook Review to learn more, including how you can earn a great welcome bonus when you sign up today using the Caesars Sportsbook promo code 'COVERSBONUSDYW.' 

5. bet365 F1 betting site

Bet $10, Get $200 Win or Lose

Code: COVERS

Code: CVSBONUS (CO, IL, NJ, TN, PA only)

 Claim $200 

$1,000 First Bet Safety Net

Code: COVERS

Code: CVSBONUS (CO, NJ only)

 Claim $1,000

bet365 earns a position on our list of top Formula One betting options in 2026 because of its industry-leading live betting section. The days of setting your alarm to submit your F1 bets before the drivers take their position is over, as you can wager on every Grand Prix as it unfolds in real-time. Additionally, we love bet365's deep collection of F1 betting markets, including how many wins will a specific team win during a Formula One season. 

Use the bet365 bonus code 'COVERS' — or 'CVSBONUS' depending on their location — to score a guaranteed welcome bonus today.

How we rate and review F1 betting sites

The sports betting market is a crowded landscape. So, allow me to be your co-pilot and highlight several important aspects that separate the best betting apps and sites for F1 from the pack. 

Welcome bonuses and promotions

Operators will use a wide range of the best sportsbook promos and welcome bonuses — such as deposit matches, second chance bets, and no deposit bonuses — to get you to register. It is vital you thoroughly review the terms and conditions before you claim any sportsbook offer.

User experience

A sports betting site could have all the bells and whistles in the world, but it's not much use if users cannot easily access bonuses, betting markets, and winnings. Prioritize Formula 1 betting sites that have an intuitive design.

Variety of bet types

One of the most important F1 betting tips I can give is to ensure your chosen Formula 1 betting sites have an extensive range of markets for every race. Look for popular bet types, like outright winners and top 10 finish, but also for futures markets, like F1 World Driver's and Constructor's Championship odds.   

Banking options

Banking should be as stress-free as a Sunday drive. The best F1 betting sites should offer a variety of banking options, such as Visa, Mastercard, PayPal, or any other of the best sportsbook deposit and withdrawal methods.

Payout speed

Similar to a driver's mindset on the track, you should be looking to complete the payout process as fast as possible. The top Formula 1 betting sites should offer quick withdrawal times that get your winnings to you within a few days and without any speed bumps.  

Security 

At Covers, safeguarding your personal and financial information is our top priority. That's why we subject every recommended Formula 1 sports betting site to a comprehensive evaluation using our Covers BetSmart Rating system, ensuring you have a safe and secure online sports betting experience. 

Customer support

Whether you've popped a tire, blown a gasket, or just need a routine check-up, a sportsbook's customer support team is there to get you back on the road. The best F1 betting sites should be accessible via live chat, phone support, email, and an active X (Twitter) account. 

How to bet on F1 races

It's time to get in the driver's seat with the best F1 betting sites in 2026. Follow the steps below to create your new sportsbook account:

Betting on F1 Grand Prix

Now that you know how to use F1 betting sites, below are the key Grand Prix race dates in the upcoming Formula 1 calendar:

Where to bet on F1?

After claiming your welcome bonuses, you can bet on every F1 Grand Prix event at the best Formula One betting sites listed above. Simply go to the 'Formula One' or 'Motorsports' section on the navigation menu to find race lines and futures odds. 

F1 betting tips and strategies

The betting opportunities arise fast and furiously for every Formula One race. I'll take you through several F1 betting tips that will help you shake and bake your way into a lucrative race day: 

Latest F1 betting news

Quick facts: F1 betting sites