Formula 1 Green Lights Las Vegas Grand Prix, Circuit to Traverse the Strip

Posted on: March 31, 2022, 08:10h. 

Last updated on: March 31, 2022, 11:59h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.

Las Vegas has quickly become a premier sports destination, and Formula 1 wants in on the excitement.

F1 Formula 1 Las Vegas circuit racing
An artist’s vision of how the Formula 1 Las Vegas Grand Prix might look when the premiere international racing circuit arrives in Southern Nevada in 2023. The Las Vegas circuit will include the Strip and see the mid-engine supercars travel at speeds of more than 200 mph. (Image: F1)

F1 is the pinnacle of motorsports. Today, the highest class of international racing is 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 yesterday 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 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 fountains.

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.

Another Draw

F1 betting is wildly popular in many parts of the world, including 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 and F1 officials to grow the sport in America.

This is an incredible moment for Formula 1 that demonstrates the huge appeal and growth of our sport with a third race in the US,” F1 President and CEO Stefano Domenicali said yesterday in Las Vegas during a ceremony commemorating the circuit announcement.

“There is no better place for Formula 1 to race than in the global entertainment capital of the world,” Domenicali added.

Spending Cap

Last season, F1 underwent a major rule change by introducing a team budget cap of $145 million. The spending limit is set to be reduced to $135 million in 2023.

The amendment allows smaller teams with less financial backing to better compete with the dominant players — Mercedes, Ferrari, and Red Bull.

Before the constraint, the premiere teams typically spent more than $400 million a season on their cars and operations. The major squads employ around 1,000 workers who labor over perfecting their team’s car and streamlining its operations.

Despite the change, Ferrari, Red Bull, and Mercedes hold the top three spots on the 2022 F1 standings through three rounds of the 22-round season.