This review evaluates liquid and gaseous hydrogen storage methods for racecars, focusing on their use in internal combustion engines (ICEs). The analysis considers critical factors such as additional weight, onboard energy requirements, system complexity, safety, cost, and consequences of charging technology. Liquid hydrogen offers higher energy density and marketing appeal due to its cutting-edge technology, but challenges include cryogenic storage, insulation, and higher costs. Gaseous hydrogen, while simpler and cheaper to store, has lower energy density and limited infrastructure, affecting racecar performance and adoption. The paper also examines the marketing value of each method, emphasising their potential impact on sustainable motorsports and consumer perception. This study aims to guide the selection of optimal hydrogen storage solutions for racing applications.