Codemasters announces they are now accepting applications to beta test F1 Online on the official website for the upcoming free-to-play online Formula One racing simulation. Here's word:

By registering for F1 ONLINE: THE GAME’s closed beta, players will have the opportunity to give their feedback and shape game features prior to the game’s worldwide launch in Q1 2012. Fans who are accepted into the closed beta also have the opportunity to earn in-game rewards when F1 ONLINE: THE GAME goes live. Players can register now and see the latest screens and videos from the game at www.F1OnlineTheGame.com. ;

F1 ONLINE: THE GAME will give players the chance to be the driver and the team boss in a game that combines intuitive top-down racing gameplay with a rewarding management game as players create and manage their own team. Fans will compete in online multiplayer races across a range of game modes, including GRAND PRIX™ events and a range of quick-fire challenges and Time Trials. Gamers will be able to track and share their progress via a range of leaderboard and social network features.

Players will have the opportunity to create their own racing team and become immersed in a world of FORMULA ONE™ on a grand scale; choosing their team name, designing a livery and leading the development of a personal franchise. As racer and team boss, they will manage the commercial, research, production and race crew functions required for success on track.