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Nov 21, 2023

The Las Vegas Grand Prix stirred up a lively debate and faced some difficult issues at the outset, and it still has some legal issues to contend with. However, in terms of sports betting, it has been a tremendous success.

Despite Max Verstappen’s breathtaking 16th victory in 17 Formula 1 races, the Las Vegas Grand Prix has been fantastic for sportsbooks. Caesars Sportsbook, in particular, set a new company record for the total betting handle on any motorsports event, and BetMGM and other local casinos also reported record handles for the race. Caesars’ Craig Mucklow disclosed that the event had handled three times the betting compared to a high-profile NASCAR event, with well over seven figures.

BetMGM saw a surge in the number of bets for this F1 event compared to any previous one. The full impact of the race on sportsbooks will become more apparent next month, when the Nevada Gaming Control Board releases its monthly report for November.

The race, which started at 10 p.m. local time, or 1 a.m. on the East Coast, sparked considerable controversy, and efforts are already underway to ensure an earlier start in the future. The late start time was chosen partly to minimize disruption to local citizens who had already faced significant disruptions due to the extended track construction. Despite this, numerous drivers and team executives are also advocating for a start time to help them adjust to the time zone as they travel from Europe. This reflects the challenges facing F1 as it seeks to become a global sport, with the need to balance expectations in a 24-hour time zone.

By Editor

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