As a result of the emergence of cryptocurrencies, modern online bookmakers have gradually moved to crypto betting offering Bitcoin Racing betting as one of the main possibilities for players. F1 racing has always been known for producing high-quality racers. Michael Schumacher and Lewis Hamilton are notable examples.
Before we move to specific details it should be said that betting BTC on racing is legal, with some exceptions when it comes to particular countries. They might have a legal framework that provides certain requirements for betting.
Bitcoin throughout the years has surged notably in price and become one of the most adopted methods for payment. The cryptocurrency also established itself in the iGaming industry and actually other altcoins do not even come closer to its popularity.
When betting Bitcoin on racing, users are able to obtain different bonuses and take part in various promotions. Bonuses usually feature additional money given on the first deposit and with Bitcoin, this sum is notably higher, than in traditional currencies. Bitcoin F1 racing challenges are also held between players and the prize is usually Bitcoin.
Bitcoin has significantly changed the gambling industry and opened borders for a new way of betting on sports. It offers a completely different approach, oriented on providing me security, safety, and speed of transactions. Racing in its turn is a perfect fit for cryptos.
We have collected a list of the best sportsbooks that allow users BTC betting on racing. All of them have gained a prominent name in the crypto gambling industry, by offering different bonuses and promotions. Do not miss a chance and try out these websites as soon as possible.
100%
Yes
No
8/10
Yes
Weekly Jackpot
120%
Yes
No
6/10
No
eSports
180%
Yes
1 Lucky Free Spin
3000+
Yes
Task Hub
100%
Yes
No
9/10
No
60+ Markets in-play
100%
Yes
No
6/10
Yes
Gift Card Giveaways
No
Yes
No
6/10
Yes
Fantasy Sports
Yes
Yes
No
6/10
Yes
Fast Deposits
Bet on racing with Bitcoins might look frightening at first, but actually, there is nothing you need to worry about. You actually need three things: a working crypto wallet, a crypto bookmaker for BTC betting on F1 races, and a personal account on a bookie’s website. The betting process is exactly the same as real money.
This is probably the most important step before starting Bitcoin gambling. Considering the fact that cryptocurrency in the field of the gambling industry is a relatively new phenomenon, the choice of websites is sometimes limited. There are the following criteria every player should take into account before selecting a bookmaker.
First of all, it is a license. The license ensures that all players have equal chances of winning and odds are fair. A period of existence of a crypto bookmaker is also worth your attention. Generally, the more active an operator is in the iGaming industry – the more experience and reliability it provides.
The next step is about checking a list of restricted countries. All BTC F1 betting websites have this list on their official documents or the FAQ section. It is essential to determine whether your country is eligible for playing or not. Normally there are not many countries that betting sites restrict but it is a good idea to know about them in advance.
After finding a decent crypto bookmaker, checking availability status, and creating a personal account, you should also have a working crypto wallet, which usually can be created at various exchanges. Usually, most of the wallets do not require installing additional software and can be used directly on a website. Without a crypto wallet, you will be unable to transfer your Bitcoins into your account, which will be later used for betting.
Generally, we can distinguish between two types of crypto wallets: hot and cold. A hot wallet is connected to the Internet, while the cold one is not. You can use both of them for betting on F1 with Bitcoins, but a cold wallet is safer.
The process of creating an account on a bookmaker’s website is simple and resembles the traditional procedure you will see in traditional sportsbooks. First of all, you should click the Register or Sign-Up button (depending on the bookie). After that you will be met with a form, you are required to fill out by providing information about username, e-mail, date of birth, country of residence.
A working e-mail is necessary because after completing the registration a letter will be sent which must be used for activating a sportsbook’s account. Some BTC bookmakers also offer the possibility of registering through Gmail and Facebook.
F1 racing is a fairly predictable sport, so anyone who closely observes what is happening in the championship can make the right bet. Bookmakers offer several types of bets, and players can use different strategies in Bitcoin F1 betting. To increase interest in betting, bookmakers offer fairly wide betting possibilities. The basic categories of bets are:
Racers, claiming the championship title two, a maximum of three, this situation is developing for many years. In the first races, the leader of the standings may be the driver, who is not the favorite, but by the middle of the season, a pair of leaders will be determined definitively. The specifics of racing implies the presence of not only a fast car and a talented racer but also an incredible psychological burden, which is especially great for drivers fighting for the title. Only a few riders from the peloton are able to withstand the pressure.
F1 has seen the dominance of one or two teams in recent years, and the situation will not change for a long time in BTC F1 betting as well. Annual change in technical regulations should allow teams from the middle of the peloton to approach the leaders, but the instant shoot from the team from the middle up will not work, the process of changing the group of leaders is gradual, the player will always be able to react to it.
It is the most popular betting option, which is found in all bookmakers. There are few contenders to win the race, for example, in 2018 16 races out of 21 were won by two drivers, the remaining five victories were divided between the three drivers of the leading teams. It is from the drivers of the top teams the candidate for the bet is chosen.
For reference, in 2018 only six drivers of the three leading teams climbed the podium, in 2017 they managed to dilute the top 6 twice. Therefore, the bet that the favorite driver will be in the top three, depends on what team he performs in.
Bitcoin as soon as it appeared in the financial industry introduced several advantages, with one of the most notable ones being the decreased withdrawal time, privacy, fast transactions, and the ability to play from any part of the world. We will explore these advantages thoroughly and check how they affect F1 betting.
| Pros | Cons |
| Fast Transactions | Tax |
| Withdrawal Time | Tedious Exchange |
| Privacy | High Risk |
| Play from Anywhere | Low Variety of Platforms |
The first noteworthy advantage is the speed of transactions. When it comes to real money, sometimes the process becomes too protracted for withdrawals. There are security checks and confirmations from banks which can even take up to 2 days. Players want their winnings as soon as possible, thus waiting is annoying for them.
In the case of Bitcoin transactions rarely take more than 10 minutes. They are executed rapidly. According to data, sometimes they showed up in just a few seconds. The speed is a unique trait of Bitcoin and other cryptocurrencies. Using Bitcoins for F1 betting is profitable in the gambling industry.
Traditional bookies, when players are withdrawing money from them, usually charge an additional fee. This rate usually varies between 2-10%. With a little amount of money such a fee might not be visible, but with bigger amounts players usually are required to pay an extra sum.
With Bitcoin, such fees do not exist. The absence of additional commission makes it an attractive option for players. Everything happens between the sender and receiver. Even if you withdraw a small amount of money from BTC bookie, you will not be required to pay extra money for that.
Volatility is a term used in finances, denoting how fast the price of a particular asset changes. Bitcoin and generally cryptocurrencies change rapidly. There might be a day when Bitcoin is worth $15,000 and the next day it surges even further. Volatility is an incredible tool to maximize your winnings in BTC F1 betting and recent trends demonstrate that Bitcoin shows no signs of slowing down.
At the same time volatility of Bitcoin helps to increase winnings, even without placing bets. If at the time of deposit the price of Bitcoin was $1000 and the next day it increased to $2000, it means you earned $1000.
Betting with Bitcoin on F1 racing has shown a notable surge in the past period. The number of BTC sportsbooks that offer F1 racing is also growing. Crypto sportsbooks are aimed at providing decent betting opportunities for players.
At the same time, Bitcoin in its nature is an incredible asset. With its significant benefits, players can ensure that their privacy is secured and the process of playing is more convenient. In general, online gambling is growing every year and will continue to grow including the share of players placing bets on racing with Bitcoins. The stronger the spread of cryptocurrency among the population, the more players will use it.
