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How To Bet On Formula One Using Crypto

bitcoin-3089728_1920 formula one crypto currency

Formula One drivers deliver the speed, excitement, and drama of Grand Prix racing to enthusiastic fans at tracks worldwide throughout a long and challenging season.

The thrill of watching a Formula One race with a bet can be priceless—especially if your instincts are sharp, you know how to wager wisely, and you take full advantage of all the betting options on the table. Here is a list of bitcoin betting sites you may want to consider.

What is a Formula 1 bet?

Formula One is the pinnacle of motorsports, and its races are some of the most-watched sporting events in the world. It’s no surprise, then, that F1 racing represents a significant portion of the crypto sports betting market. In a nutshell, betting on F1 is just like betting on any other sport. You deposit some money into an account with a bookmaker or exchange and make a bet.

Find a bookmaker

It can be tough trying to find a good bookmaker that accepts crypto. Although there are a lot of online sportsbooks out there that accept cryptocurrencies. However, it isn’t always easy to tell which ones are legitimate or a scam. Many bookmakers have come and gone over the years. You should only stick to reputable bookmakers when betting on Formula One using crypto.

Fund your account

When you are ready to make your first deposit, head over to your account’s “Deposit” section. There are several options for making your first deposit, but we recommend Bitcoin.

Bitcoin is a decentralized cryptocurrency that you can transfer between parties without going through a middle man like a bank or credit card company. It’s also completely anonymous and offers one of the fastest funding methods in the industry.

Determine your bet type

The second step is determining the type of race you want to bet on. A bettor can bet on an individual race and the overall championship winner. You can also bet on who will win during certain periods in each race, such as who will win after 10 laps. The easiest way to bet on Formula One is to pick the winner of the race simply.

Other types of bets available

Another type of bet is to place more than one driver in an order you think will determine the top three finishers. A $10 bet on Max Verstappen to win, Lewis Hamilton in second place, and Charles Leclerc to finish third would pay out $100 if that were the result of the race. Other bets include a podium finish ( whether a driver will finish in the top three).

Place bet

It is a simple process to place your wager. You can choose from a wide range of betting options. Select which driver or team you want to win. The odds for each driver or team are listed in a table, and you simply click on the link for the driver you think will win. It will take you to a page that shows all the race details.

Wait until the Formula One race completes. After your bet is successful, it’s time to withdraw your winnings and get them back in your wallet. Head over to the “Cashier” section and select “Withdrawal” from the menu. There should be an option for cryptocurrency withdrawals, which you will use. Once again, send your funds to your personal wallet address before using them elsewhere.