The first Formula One Esports Series was announced on 21 August 2017. Over 60,000 players attempted to qualify for the LAN finals of the inaugural season, which drew viewers from 123 countries. Brendon Leigh won the first championship.
The 2018 season was the first full season with official team participation, split into two stages. A Pro Draft allowed online racers to earn seats with official F1 teams; nine constructors — Mercedes AMG Petronas Motorsport, Red Bull Racing, Force India, Williams, Renault Sport, Haas, McLaren, Toro Rosso, and Alfa Romeo Sauber — fielded esports line-ups. Over 66,000 gamers participated, competing for a share of a $200,000 prize fund. The series drew a record audience of 5.5 million across television and online streams. Mercedes won the Teams' Championship and Brendon Leigh became two-time Driver Champion.
Ferrari joined the series in 2019 after sitting out 2018. The prize fund increased to $500,000. David Tonizza, driving for Ferrari Driver Academy, won the Drivers' title; Red Bull Racing Esports took the Constructors' Trophy.
The COVID-19 pandemic moved the 2020 and 2021 seasons fully online rather than to LAN venues. Jarno Opmeer won both championships — for Alfa Romeo Racing Orlen Esports in 2020 and Mercedes-AMG Petronas Esports in 2021. Frederik Rasmussen was runner-up in both seasons. The 2022 series remained online; Lucas Blakeley and McLaren Shadow claimed their maiden titles, with Rasmussen again finishing second.
For the 2023–24 season the championship was renamed F1 Sim Racing and returned to LAN for the first time since 2019. Rasmussen finally claimed his maiden Drivers' title after finishing runner-up in each of the four preceding seasons. The 2025 championship was won by Opmeer, giving him a record third Drivers' title — and his first that was not part of consecutive wins. Opmeer and Rasmussen partnered at Oracle Red Bull Sim Racing in 2025, winning that team's record third Teams' Championship.
Each participating team fields three drivers and selects two for each of twelve 50%-distance races broadcast live on official Formula 1 channels. Points follow the Formula 1 scoring system. Until 2022, drivers had to qualify through the Challengers Series (three separate online championships across PC, PlayStation, and Xbox) or via the DHL Time Trial to earn a place at the Pro Exhibition, from which teams drafted their line-ups. The Challengers Series was discontinued from 2024, and teams may now sign any drivers of their choosing.
In total, 99 races have been held across the programme's history: 3 in 2017 (plus 2 semi-finals run across 4 groups), 10 in 2018, and 12 per season from 2019 onward. Brendon Leigh was the first two-time champion; Jarno Opmeer is the only three-time champion and the first to win titles in non-consecutive seasons.