The Las Vegas Grand Prix ended with a bang, leaving casinos with a significant profit and betting records shattered. Several sportsbooks, including Caesars Sportsbook, BetMGM, Station Casinos, and the Westgate SuperBook, achieved remarkable results. The betting handle, amount wagered, and money spent on specific auto races reached unprecedented levels. Craig Mucklow, a Vice President of trading at Caesars, confirmed that the numbers were over seven figures.
The highlight of the event was the massive bet placed at BetMGM, where a player wagered $200,000 on Max Verstappen, winning $100,000 at odds of 200 to 1. Seamus Magee, the BetMGM trading manager, stated that the Las Vegas Grand Prix was the most attended F1 event in BetMGM’s history, with three times the number of bets compared to previous contests.
Chuck Esposito, a sportsbook director of Red Rock Resorts, expressed satisfaction with the results, as the odds were as high as 200-1 and 300-1, attracting significant betting action. The event drew considerable interest, with the Red Rock sportsbook experiencing a full house from 10 p.m. on Saturday until Sunday morning.
Jay Kornegay, the vice president of The SuperBook, revealed that they were small winners, relying on Max Verstappen’s victory to turn a profit. Adam Pullen, an assistant director of trading at Caesars, emphasized the importance of Verstappen’s win, considering the large bets placed on him. However, bets were also placed on Leclerc during the race, contributing to the record-breaking handle and brisk action.
Overall, the Las Vegas Grand Prix proved to be a win-win for sportsbooks, exceeding expectations in terms of attendance, betting, and excitement. The event set new records for any race, reflecting the immense popularity and success of Formula One betting in Las Vegas.
