Betting on the Monaco Grand Prix Online
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History of the Monaco Grand Prix
The first Monaco Grand Prix took place in 1929, won by William Grover-Williams in a Bugatti. Interestingly, just a year prior, an application to upgrade the race to national status was denied, meaning the Monaco Grand Prix practically didn't exist.
This was due to the proposed racetrack largely using roads in neighbouring countries. To overcome this, the track was laid out on the streets of Monte Carlo. This also meant the circuit was considerably shorter than standard Formula 1 racing circuits. However, what they lacked in length, they certainly made up for in the sheer number of laps.
What is Formula 1?
Formula 1 racing, often shortened to F1, is a globally recognised motorsport governed by the Fédération Internationale de l'Automobile (FIA). The ultimate goal is to win races, but this must be achieved while adhering strictly to a comprehensive set of rules.
Formula 1 races are typically over 305km, with the winner being the driver who completes the designated laps in the shortest time.
Throughout the Formula One season, a series of races known as Grand Prix are held worldwide. While most races are conducted on dedicated circuits, some, like the Monaco Grand Prix, utilise city streets that are temporarily closed off to regular traffic. These Formula 1 championships are a major draw for Irish betting enthusiasts looking for action on the best online bookmakers.
Grand Prix Prize Money
A substantial sum of money is up for grabs for all competitors in the Monaco Grand Prix. Currently, the prize fund is estimated at around €1 billion. This is distributed among participants through a rather intricate system. The top 10 teams receive approximately half of the total prize money, distributed on a sliding scale. Other participants are awarded around €10 million each, provided they secured a top 10 finish in at least two of the previous three years.
Popularity in Ireland
The Monaco Grand Prix draws a massive crowd annually. Approximately 100,000 spectators flock to Monte Carlo to witness the thrilling action from the sidelines. If you factor in those watching from hotel and apartment balconies, as well as those who charter yachts for a prime view from the marina, this number can easily double. It's a spectacle that captivates motorsport fans across Ireland and beyond.
From a whole list of sports tournaments, Formula 1 remains one of the most popular to see live, watch on TV and bet on.
Well Known Formula 1 Drivers
Ayrton Senna is the only driver to have won at the Monaco Grand Prix 6 times. 5 of these wins were consecutive between 1989 and 1993. Graham Hill and Michael Schumacher are the only 2 drivers to have ever gotten close to that record, both winning 5 times each.
Sir Lewis Hamilton, who has won the Monaco Grand Prix 3 times, is still racing today, and is one of the biggest names in the sport. Max Verstappen, the 2021 Monaco Grand Prix winner was only 23 when he stood on the winners podium.
Why is Monaco Grand Prix popular to bet on?
As one of the major Formula 1 tournaments it comes with a lot of excitement. To add to this, betting on the Monaco Grand Prix will only increase that adrenaline rush. It helps that online betting sites make it really easy to place a wager on this or any other formula one race.
Placing a bet is really simple, you can do it online, through one of the many online sportsbooks. Luckily there are many reputable online betting sites.
You don’t need to spend a lot of money either, as a matter of fact, gambling responsibly and only wagering an amount you can afford to lose is encouraged.
Any win is a bonus, but if your driver crosses the line for the win, and you happen to be able to cash in a few extra dollars, it all adds to the joy of watching the sport.
People who bet on the Monaco Grand Prix are not just limited to those who are fans of the sport.
People enjoy placing bets as a hobby, there are even professional gamblers. These are people who use strategy to try to predict the outcome of the race, based on things such as current form of the driver, weather conditions and the types of track to name just a few.
The Best Monaco Grand Prix betting sites in 2026
There are many great betting sites for anyone wanting to place a wager on the Monaco Grand Prix, or formula one races in general. It is best to choose a site that allows betting on a list of sports tournaments, including major formula one tournaments, rather than have a limited selection.
Reputable sites will offer a variety of sports to bet on, and most are easy to use online. Sites like 888 Casino and BetVictor will also offer a range of bonuses, including welcome bonuses for people who are registering with them for the first time. This means that with these sites, your money will go much further.
Some online betting sites, like William Hill, also have betting shops that you can go into to physically place a bet. This is ideal for those who want to bet on the next race, but who aren’t able to use an online mobile betting site for whatever reason.
Some people like to sit and watch the race live, which you are able to do in the betting shop, surrounded by like-minded people all cheering on their chosen driver.
How to bet on Monaco Grand Prix
Betting on the Monaco Grand Prix couldn’t be easier. First you need to find yourself a reputable online betting site, as stated earlier. Check out reviews, deposit methods and their responsible gaming policy.
Once you are happy with your chosen site, create an account and link your payment method to it. Most sites take debit and credit cards, some will also accept PayPal and other e-wallet payments.
Pick your chosen race from one of the Formula one tournaments, decide who you want to win, based on whatever strategy you wish (some people like to just pick a name from a hat!) and place your bet. The site will be clear about your odds, the higher the odds the bigger the return – but also less likely to come to fruition. Then sit back and watch the race unfold.
If you win, the amount you have won, depending on the odds you had, will be paid automatically into the account online. To withdraw this, you will need to go into the account to request it.
Normally the withdrawal of winnings will only go back onto the card (or payment method) the money came out of, so if you paid via credit card, you will not be able to withdraw to your PayPal, for example.
