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Formula 1 News: Betting was big in Las Vegas during GP

Posted by AR1 staff

The betting action on the Las Vegas Grand Prix was big, and the dealers also went home with record tips that night.

At Wynn the table game tip total was a reported $700,000 overall for Saturday night during the GP.  A normal Saturday is about $350-$400 per dealer. This weekend set records for Wynn dealers, the highest tips in their 18-year history, with each dealer taking home over $2,000 more in tips for the night than normal.

An online Twitter user said a dealer he knows at the Cosmo made a killing. Something like $10k more than normal for a Nov. Saturday.

After the race at Bellagio between 1am-2am:

  • About 70-80% of all tables had action
  • One guy won $40,000 on high limit Top Dollar
  • Of 10 craps tables on the main floor, 2 were $25 min, the rest were either $50 or $100 (all had action) -$300 min for 3:2 BJ on main floor (4 tables, 2 vacant)
  • $1,000 min 0 roulette in high limit -$1,000 or $5,000 min high limit BJ
  • One $5,000 BJ table had 3 people playing, another had a couple playing
  • Two $1,000 BJ tables had 2-3 people playing

Caesars Sportsbook shattered its record betting handle, or amount of money wagered, on any auto race, and BetMGM, Station Casinos and the Westgate SuperBook reported record handles for an F1 race.

“It was three times Daytona’s numbers,” Caesars vice president of trading Craig Mucklow said, referencing the Daytona 500, aka the Super Bowl of NASCAR. “It was well over seven figures.”

The largest reported wager was from a BetMGM bettor who put down $200,000 to win $100,000 on Max Verstappen at -200 to win Saturday night’s race on the Strip. The person got back his original $200K plus $100K in winnings.  The gambler cashed the ticket when the Dutch driver came from behind to deliver his 18th win in 21 F1 races this season.

“The Las Vegas Grand Prix was the most bet F1 event in BetMGM’s history,” BetMGM trading manager Seamus Magee said. “The sportsbook took three times the number of bets on the race than any previous contest.”

“We did well to it overall, especially with Verstappen and Leclerc finishing 1-2,” Red Rock Resort sportsbook director Chuck Esposito told the Las Vegas Review Journal. “We saw a lot more action on drivers with longer odds just because of the value in 200-1 and 300-1 odds.

“It clearly produced the largest Formula One handle we’ve ever seen. It was a product of being here and all the hype surrounding it

Esposito said the Red Rock sportsbook was packed with people who turned out to watch the race from 10 p.m. Saturday to early Sunday.

“It was a football Sunday-esque crowd. It was kind of cool. The event really was a win-win for us,” he said. “Formula One, for the most part, isn’t a heavily betting sport. But it goes hand in hand with anything else that takes place here.

“Whether it’s a big prize fight or UFC fight or the Aces, Raiders, Knights, Rebels or NASCAR, they produce huge handles, and this was no different.”