DraftKings Sets Records Amidst Las Vegas Grand Prix Frenzy

Sin City witnessed a historic surge in bets during the race, making it the most wagered-on Formula 1 event ever, according to data from leading online sportsbook operator DraftKings.

Caesars and BetMGM Dominate Las Vegas Grand Prix Betting Surge

Breaking previous F1 records for both handle and the number of wagers, the Las Vegas Grand Prix overshadowed the 2021 Belgian Grand Prix, establishing itself as a milestone in the company’s betting history. 

This surge was not limited to DraftKings alone. Caesars Sportsbook and BetMGM took the lead in the betting frenzy sparked by the Las Vegas Grand Prix on November 18, setting new records in total betting handle for motorsports events. 

Caesars surpassed its previous records and even Daytona 500 figures, with a threefold increase, while BetMGM reported a substantial rise in bets, climaxing with a $200,000 wager on Max Verstappen, resulting in a $100,000 payout. 

Despite initial challenges, the success of the event not only financially triumphed but also drew crowds, creating a vibrant atmosphere in sportsbooks, particularly noted by Chuck Esposito, the sportsbook director at Red Rock Resort. 

DraftKings Reveals the Surge of F1’s Popularity Beyond Numbers

Going beyond the sheer numbers, DraftKings took a step further by shedding light on the broader trend: the undeniable rise of F1 among domestic bettors. Often considered an underdog in the sports betting world compared to football, basketball, and baseball, F1 is capturing the attention of sports enthusiasts in the United States.

DraftKings’ data reveals that nine out of the top 10 F1 races in the company’s history occurred since the inception of the 2022 season, with six taking place this year. Notably, the Las Vegas Grand Prix and the Miami Grand Prix, two-thirds of the series’ US races, feature prominently in this list.

What adds an intriguing layer to this narrative is DraftKings’ impressive performance in handling bets during the Las Vegas Grand Prix. The fact that DraftKings, along with rival FanDuel, currently does not accept bets in Nevada, either in physical casinos or online, makes this achievement all the more remarkable.

DraftKings has managed to surpass its previous F1 records without having a foothold in the Nevada market, emphasizing the undeniable growth of F1’s popularity among avid bettors. While it’s widely anticipated that DraftKings will eventually make its foray into the Nevada market, the success of the Las Vegas F1 race underscores that the gaming company does not necessarily need a presence in the Silver State to capitalize on the excitement generated by the race.