Las Vegas GP expected to 'shatter' F1 betting records

Field Level Media|published: Mon 13th November, 16:27 2023

Nov 5, 2022; Las Vegas, Nevada, USA; Mercedes-AMG Petronas driver George Russell spins his car on the track during the Formula One Las Vegas Grand Prix Launch Party at Las Vegas Strip. credits: Ray Acevedo-USA TODAY Sports

Saturday night's inaugural Las Vegas Grand Prix continues to serve as a lightning rod for criticism among skeptics who question everything from the circuit's layout to the 10 p.m. PT (1 a.m. ET) start time.

That hasn't tempered the excitement from sportsbooks, with the race through Sin City expected to set records for wagering on a Formula 1 event in the United States.

"We are forecasting that this race weekend in Las Vegas is easily going to shatter every company record for the sport," BetMGM chief revenue officer Matt Prevost said. "While popularity for automotive sports in the U.S. continues to grow, we believe the activity we are seeing so far around this Las Vegas race is going to take it to a whole new level."

Red Bull's Max Verstappen, who has been an outspoken skeptic of the event, is the heavy pre-race favorite at -300 at the book. He has already clinched his third world championship, and Red Bull has secured the constructors championship with two races remaining.

McLaren's Lando Norris, who has climbed to fifth in the drivers standings with five podiums in his past six races, has the second shortest odds at +800. Norris is the book's second biggest liability as of Monday, drawing the most total bets on the grid with 15.8 percent and the second most money at 12.6 percent.

Verstappen's Red Bull teammate, Sergio Perez, is being offered at +1600 along with Ferrari's Charles Leclerc and Carlos Sainz. Perez is the third biggest liability, and leads the field with the most bets to finish in the top three at +160.

Seven-time world champion Lewis Hamilton is being offered at +1800 to win.

The book's biggest liability this week is the only American driver on the grid. William's Logan Sargeant has mustered only one point in his rookie season, but his +100000 longshot odds have drawn 4.1 percent of the total bets and 1.0 percent of the money wagered on the winner.

The most money has naturally backed Verstappen at 58.6 percent. The Dutch superstar has won 17 of the first 20 races this season, including each of the past five entering Vegas.

—Field Level Media