Las Vegas has quickly become a premier sports destination, and Formula 1 wants in on the excitement. F1 is the pinnacle of motorsports. The highest class of international racing is today a glitz- and celebrity-filled arena that caters to the world’s elite. The series is dominated by Mercedes, Ferrari, and Red Bull Racing, and those teams will be the betting front-runners when F1 arrives in Las Vegas in roughly a year and a half.
Formula 1 announced that beginning in November of 2023, F1 will descend on Southern Nevada each year for the Las Vegas Grand Prix. Las Vegas last hosted an F1 race back in 1982 with the Caesars Palace Grand Prix. But that event did not include racing on the Strip.
The new Las Vegas Grand Prix will travel past Caesars Palace and the Strip’s other landmark resorts, including the Bellagio and its famed fountain.
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The 14-turn track runs 3.8 miles (6.12km). Cars will enter onto Las Vegas Blvd. via Sands Avenue and head south on the Strip about 1.2 miles before exiting east at Planet Hollywood via Harmon Ave. The Strip straightaway, F1 says, will allow the supercars to exceed speeds of 200 mph.
F1 betting is wildly popular in many parts of the world, including in the UK, Europe, and Australia. While Formula 1 betting stateside is minimal, that is likely going to change with Las Vegas’ introduction.
The casino capital is set to become the third US city with an F1 circuit, following Austin and Miami. But gambling on sports remains prohibited in those two cities. Las Vegas presents a much different opportunity for oddsmakers, as well as F1 officials, to grow the sport in America.
F1 underwent a major rule change last season by introducing a team budget cap of $145 million. The spending limit is set to be further reduced to $135 million in 2023.
The amendment is to allow smaller teams with less financial backing to better compete with the dominant players — Mercedes, Ferrari, and Red Bull.
Source: casino.org
