Las Vegas Grand Prix drives record betting at BetMGM for a Formula One race
LAS VEGAS (AP) — The Las Vegas Grand Prix, which Max Verstappen won Saturday night, blew past BetMGM betting handles for previous Formula One races.
Trading manager Seamus Magee said BetMGM took three times the number of bets than any other previous F1 race.
Westgate Las Vegas and Red Rock Resort reported on Saturday this race was the most-bet Formula One event at those sportsbooks.
Formula One's most expensive and hyped race that included the lure of drivers competing on the famed Las Vegas Strip drove the betting action.
Verstappen, who has won three series championships in a row, took the lead with 13 laps left to win for an 18th time this season.
One BetMGM bettor wagered $200,000 at minus-200 to win $100,000 when Verstappen cruised past the start/finish line. He opened at minus-350 at that sportsbook, and the number moved down throughout the week before finally reaching minus-185.
Rather than try to find value, many bettors went for the near sure payoff with 28.7% of money going to Verstappen, the most in the 20-driver field. However, he was third in ticket percentage at 10.5 behind Charles Leclerc (12.0) and Lewis Hamilton (11.9).
Leclerc finished second and Hamilton seventh.
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