With F1 betting in Maryland now completely legal, we are sure that you may be wondering how you can start to place your very first bets. That is the intention of this guide. Whether you are a new online gambler or somebody with a bit of experience, we want to guide you through how the world of F1 betting works.
Guide to F1 betting in MD
In this guide, you will learn about the absolute basics of F1 betting. First, we want to talk about the available betting markets. Then, we want to guide you through making your very first bet. We even want to tell you the places that you probably should be gambling at.
Introduction to F1 betting in Maryland
We are positive that most of you reading this will have an idea of how betting works. Well, we would hope so. You certainly shouldn’t be gambling if you don’t have a clue how the whole process works.
You stick some cash on a bet. If it wins, you win cash. It is simple stuff. What we want to talk to you about here is actually getting signed up for a sportsbook. This means the information that you need to dive into online F1 and motorsports betting in Maryland with.
Sportsbooks in Maryland need to be pretty careful that they only let residents of Maryland gamble there. When you sign up for one of these sportsbooks, you are going to have your location checked. The main way that the sportsbook will do this is by checking the location of your device, i.e., your IP address.
You will also need to provide the sportsbook with proof of who you are. This will be a state-issued ID and a utility bill. Some sportsbooks may require a little bit more information than this. However, that is rare.
If you have a bank account in Maryland, then chances are that you will not have to worry about payment methods all that much. Any debit/credit card should be accepted at most sportsbooks. So, you are fine on that front.
The one thing that you may need to be aware of, however, is the fact that there are many banks that do not allow online gambling with your debit/credit card. This is becoming increasingly rare in the state, though. As online gambling in Maryland becomes more popular, we reckon that this is going to become less of an issue.
Choosing a sportsbook for F1 betting in Maryland
In order to partake in F1 betting in Maryland, you need somewhere to play. And ofcourse, you can use the same sportsbook when you want to get into some Maryland NASCAR betting, or when betting on the Daytona 500 in MD.
In the next section, we are going to mention the five best places for those that want to place their F1 bets. First, however, we want to talk a little bit about what makes a site good. These are the questions that you should really be asking yourself whenever you stumble across a new sportsbook.
What are their betting odds like?
Do you want to win as much cash as possible? Well, you need the best betting odds. When you are hunting down a site to gamble at, we suggest that you compare several sites for F1 odds. Go with the site that seems to have the best odds for the bets that you want to make, e.g., if you are a fan of Moneyline bets, then choose the sportsbook that offers great moneyline odds.
How many betting markets do they have open?
F1 race betting is not just about betting on the winner. There are several ways to bet on a race. First, you may want to bet who has the fastest lap. Second, you may want to bet on how many safety laps will be driven. Finally, you may want to bet on who takes the pole position. The more betting options available, the better.
Do they offer live F1 betting?
Not everybody is going to be interested in betting while the cars are hurtling around the track. However, if you want to add a bit more excitement to an F1 race that you are watching, then you will want to look for sites that offer live F1 betting. Again, the more markets that you have available to you here, the better.
Do they offer multiple deposit and withdrawal options?
You want a site that offers plenty of ways to get money in and out of your account. But, of course, at the very minimum, you want to know that they are going to cover whatever payment methods that you have at your disposal.
Is their reputation good?
Always read reviews and look through a site. You will start to get a feel for whether a particular sportsbook is reputable or not.
Do they offer a mobile app or a mobile site?
Even if you do not plan on gambling via your mobile device, we still recommend that you look for a sportsbook that allows this. After all, offering a mobile option means that this is a site that attempts to stay at the forefront of technology. This is exactly what you want.
Best sportsbooks for Formula 1 betting in MD
As promised, we want to talk about some of the best sportsbooks for those that want to place a Formula One bet in Maryland.
This is just going to be a quick overview. This is because F1 betting doesn’t vary all that much. We suggest that you check out each of these sites and see which ones you enjoy the most. You may want to sign up for a few of them to ensure that you will always be seeing the best odds.
BetMGM Formula 1 betting
BetMGM is a stellar place for new gamblers. They offer some great introductory bonuses. While they do not always have the largest selection of betting markets, their great odds more than make up for it.
Pointsbet F1 wager
If you are a keen mobile gambler, then we urge you to check out Pointsbet. Their mobile app is tremendous. It is available on both Android and Apple devices too.
Draftkings F1 odds
Draftkings offers some great odds on F1 betting lines. However, our favorite thing about this site is that they regularly offer enhanced odds. This will allow keen gamblers to squeeze a little bit more out of their winning bets.
Fanduel F1 live betting
Fanduel offers some awesome live betting markets. Nearly every single F1 race is going to be available for live betting here, so you can have a little bit of fun while you are watching on TV.
Barstool F1 betting market
Barstool Sportsbook offers one of the biggest ranges of F1 betting markets out there. This is great if you love a prop bet or two.
Formula one betting markets – MD
In this section, we want to introduce you to Formula One betting markets in Maryland. These are the various things that you will be able to bet on.
Because F1 is a popular sport and sportsbooks are always trying to come up with unique bet types, we are not going to be able to cover everything here. However, we do want to give you a rough idea of the main betting markets that you will encounter at most operators in the state.
Moneylines – F1 bets MD
Moneylines are bets on the winner. There isn’t much more that we could possibly say about this bet type. However, we reckon that for many people, this is going to be one of the first bets that they make on F1.
Pole Position – F1 odds MD
There are no prizes for guessing what this betting market is for. You are going to be gambling on who will take the pole position during qualifying!
Fastest Lap – F1 betting Maryland
This betting market is all about who drives the fastest around the track. The driver doesn’t even need to finish. As long as they posted the fastest lap and you selected them, then you win the bet.
Place Bet – F1 lines MD
The place bet can vary a little bit. For most sportsbooks, you are betting on the drivers to take points, i.e., the first 10 drivers. However, some place bets may focus on the first 5 positions.
You select a driver, and if they finish within the place range for the bet, then you win.
Podium – Formula 1 Maryland
Podium bets are bets on whether a driver will finish in the top 3. This is really just a place bet. However, most sportsbooks for F1 betting in Maryland will categorize it separately.
Head to head bets F1 MD
With head-to-head bets, you aren’t going to be focusing on that entire race grid. Instead, you are going to be focusing on a small group of drivers. You will be betting on who will win the race out of those 4 drivers. Only those 4 drivers will count. So, if a driver in the head-to-head bet finished 10th in the official race but every other driver in the head-to-head bet finished behind them, they are still classed as the winner for the purposes of the bet.
F1 Futures – Maryland
Futures are long-term bets. You will normally be betting on something that happens over the course of the F1 season. For example, these are all regarded as futures bets:
- Driver’s Championship Winner
- Manufacturer’s Championship Winner
- Most wins over the course of a season
- Most podiums in a season.
F1 Prop Bets MD
Prop bets can be a bit trickier to understand if you are new to gambling. Prop bets tend to focus on anything that does not include the winner of the race or lap times. So, prop bets may include:
- The first driver to pit
- How many drivers retire from the race
- Number of safety laps
Sportsbooks vary a lot when it comes to prop bets, so you may have to hunt around for the props that you like the most. However, do bear in mind that these are some of the riskier bets in F1.
Making your first Formula 1 bet in Maryland
Here, we want to walk you through the stages of making your first bet. This isn’t talking about choosing your sportsbook or anything. Instead, it is ensuring that you make the right bet.
How much money do you have to spend on gambling?
While it would make sense to think about how much cash you have available for gambling, a surprising number of people don’t. Instead, they just dip into their bank account whenever they want to place a bet.
We highly recommend that you focus on your bankroll. This is cash that you have specifically set aside for gambling. This is money that you can afford to lose, i.e., you do not need it to cover bills or food.
While we hope that you do not lose your bets, you should always go into betting with the idea that you may lose. It makes those losses easier to stomach.
Read F1 betting stats and statistics
Before you even think about reading betting markets, you are going to need to go through as much F1 news as you can. Read driver statistics. Listen to driver tipsters. You may even want to watch a couple of past races. The more information that you can gather here, the easier it is going to be to place a successful bet.
Read the betting markets
Armed with your knowledge, you can go and check out some of those markets for F1 betting in Maryland. Go through the markets and see if there are any bets that catch your attention.
The chances are that you may spend a bit of time focusing on those moneylines or podium bets, as they are often the easiest to predict. However, we encourage you to look beyond that too.
Tipsters may have given you more than enough information to determine whether other bets will come in. Make a note of which bets interest you and compare them against your research. Scratch off the bets that are too difficult to predict.
How much risk are you willing to take?
Every gambler will have their own risk level. You have to take risks if you want to win. There is no sense in making a couple of safe bets. You will barely win anything.
Look at the betting odds and compare them against your research notes. You will work out which bets are far too risky and which bets carry an element of risk but may come through.
We can’t tell you how much risk you should be taking. This is up to you to decide. Just don’t make crazy bets.
Placing your bet
Once you have worked out which bets attracted you, stake your cash and hope for the best. We hope that you end up a winner!
FAQ’s About F1 betting in Maryland
Are welcome bonuses available for F1 betting in Maryland?
In most cases, yes. However, you may not be able to make every bet you want to with the bonus. Therefore, it is important that you read through the terms and conditions of the bonus to know what you can and can’t do.
What is a hedge bet?
This is when you bet on the opposite outcome to your main bet. The idea is that no matter what happens, you end up a winner. This means that you can cut your losses or perhaps make a small amount of extra cash.
Can you bet on the number of crashes in F1?
No. Well, some sites may offer this. However, it is incredibly rare. Crashing is never the main focus of F1, and the organizers go to huge lengths to ensure that crashes are kept to the minimum.
Can you bet on winning teams in F1?
Yes. You can bet on winning teams with your standard moneyline bets.
How long does it take for a winning bet to payout?
Winning bets will land in your account immediately. However, once you trigger the withdrawal, it may take 2-3 days for the money to land in your bank account.