The Las Vegas Grand Prix was once again a premier racing event for U.S. sportsbooks.
Key Takeaways
- BetMGM and Caesars Sportsbook both saw increased ticket percentages over last year’s Las Vegas Grand Prix.
- Max Verstappen won the race and was BetMGM’s biggest liability.
- The stars came out to see the city’s biggest event.
BetMGM told Covers on Monday that Saturday’s Formula 1 race generated 51% more handle than the 2024 Las Vegas Grand Prix, setting a new record as “far and away” the most-bet F1 event ever.
The face also produced three times as many tickets and over four times as much handle as the average F1 race this season for an operator that has a huge presence in Las Vegas.
Caesars Sportsbook, which also operates retail sports betting in Vegas, enjoyed 30% more wagering for the 2025 event than the year prior, said Craig Mucklow, vice president of trading at Caesars Entertainment.
Enjoying Covers content? Add us as a preferred source on your Google account“Given Caesars / William Hill offered more than 100 markets on the event, including Same Game Parlays, it was no surprise how popular the race was with Vegas enthusiasts,” Mucklow said. “We were proud to offer the biggest depth of product and choice for bettors in our home state, which led to increased handle and wagers.”
Bad win for the books
Red Bull driver Max Verstappen won the sold-out grand prix for a second time and was the biggest betting liability at BetMGM. Verstappen was getting nearly 37% of the handle and 24% of the tickets before the race. He had odds of +130 to win after Friday’s qualifying.
The sportsbook was certainly not rooting for the Dutch star, but there was another interesting outcome. Race favorite Lando Norris (-125), who had the second-highest handle to win, finished second, and Oscar Piastri finished fourth. However, both McLaren drivers were disqualified after failing the post-race inspection.
High interest
Interest and enthusiasm in the Vegas race has been huge each year and created a $934-million economic impact in 2024. Las Vegas Convention and Visitors Authority CEO and president Steve Hill told the Las Vegas Review-Journal that he expects this year’s race to reach $1 billion.
With part of the track situated on the famed Las Vegas Strip, this has become a star-studded event in its third year, drawing 150,000 visitors, including celebrities and other notable figures.
Fanatics CEO Michael Rubin, who owns the sports betting and iGaming company of the same name, was seen with music icons Jay-Z and Beyoncé, who rode a lap around the track with driver Lewis Hamilton.
Beyoncé, Jay-Z, Travis Scott, Michael Rubin.
— Motorsport (@Motorsport) November 23, 2025
What a pre-race squad for Lewis Hamilton. pic.twitter.com/TNVz5HGZkn
BetMGM trading manager Hal Egeland told Covers last week that high clientele for a lavish event helps bring in a higher handle on this F1 event.
