New Users Can Earn $350 Bonus Bets at FanDuel for $5 Stake
Sportsbooks are competing for motorsports bettors with large bonus offers, while prediction markets like Kalshi and Polymarket expand their racing odds.
By Daniela Ortega ·
FanDuel is offering new users up to $350 in bonus bets if they wager $5 over seven days. The promotion allocates a bonus bet token for each $5 bet placed. DraftKings requires a $5 initial stake and rewards users with $200 in bonus bets plus three months of NBA League Pass. Fanatics provides $350 in FanCash after a $20 wager. These offers are part of a broader push to attract fans to Formula 1 and NASCAR betting as the sport gains mainstream popularity.
BetMGM structures its offer around the outcome of a first bet. It covers the first bet up to $1,500 in bonus bets if that initial wager loses. Users must wager at least $1,500 to be eligible for the full amount. Caesars Sportsbook gives new users up to $250 in bet reset tokens. Sportsbooks generally maintain consistent odds for racing events, allowing bettors to compare lines across platforms to find the best value.
Prediction markets are also entering the motorsports space. Kalshi and Polymarket offer trading markets for racing events. As federally regulated markets, they are available to users throughout the United States. Kalshi gives new users $55 in bonus trading credits after an initial trade of $25 or more. Sports contracts on Kalshi are currently unavailable in Michigan, Nevada, and Washington. Polymarket provides $25 in trading credits for a $10 deposit.
Odds in motorsports follow standard betting formats. A driver priced at -150 to win the Monaco Grand Prix on June 7 is a favorite, requiring a $150 risk to win $100. A driver at +200 is an underdog, where a $100 risk yields a $200 profit if they win. Racing schedules vary by series, but most events occur on weekends. Practice sessions typically happen on Thursday or Friday, with qualifying taking place on Friday or Saturday to set the starting grid.
Qualifying results often shift race odds before the main event. Bettors can wager on qualifying outcomes as well as the race itself. The Indianapolis 500, held on Memorial Day weekend, remains the premier IndyCar event. In NASCAR, the Daytona 500 is considered the richest race on the circuit. The Coca-Cola 600 at Charlotte and the Brickyard 400 are also Crown Jewel events. Talladega Speedway is well known but is not a Crown Jewel event.
Formula 1 features distinct tracks in each city, with Monaco considered the biggest spectacle of the season. The British Grand Prix at Silverstone, the Italian Grand Prix at Monza, and the Singapore Grand Prix are also marquee events. The Abu Dhabi Grand Prix is typically the final race on the calendar and can decide the drivers and constructors championships. F1 has also added special events in Miami and Las Vegas.
Bettors have several market options, including outright winner odds and top finish placements. In a top 5 or top 10 market, bettors wager on a driver finishing within that range. Dead heats are rare but possible, with sportsbooks handling payouts differently. FanDuel applies half the stake at original odds and loses the other half in a dead heat. Dual Forecast bets require the correct order of finish for first and second place. Each way bets combine a win bet with a top finish bet.
Stage winner bets are common in NASCAR and IndyCar, where bettors predict the leader after specific lap counts such as 25, 50, or 100. Head-to-head matchups allow bettors to choose which driver or team places higher. In team matchups, the highest-placed driver for that team determines the result. Group winner bets are offered in NASCAR, where bettors select the winner from a small group of drivers. Top car make driver bets allow wagering on whether the winner drives a Ford or Chevy.
Futures betting covers season-long championships. The F1 Drivers Championship goes to the driver with the most points, while the Constructors Championship tallies points for both team drivers. Only the top 10 finishers in each race score points. NASCAR futures include marquee races and series winners for the Cup, Xfinity, and Truck Series. The Indianapolis 500 is the major futures market for IndyCar, alongside season-long championship odds.
Parlays are available for motorsports betting, though bettors cannot combine multiple drivers to win the same event in a single parlay. They can, however, combine bets on multiple drivers finishing in the top 5 or top 10. Live odds are offered during races, with more frequent updates in NASCAR and IndyCar due to the longer race durations and more overtaking opportunities compared to Formula 1.
Source: CBS Sports
