Formula One Las Vegas Rumors Rev Up, Circuit Expected to Confirm Nevada Event

Posted on: March 25, 2022, 10:26h. 

Last updated on: March 25, 2022, 10:44h.

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

Formula One (F1) is expected to soon announce that Las Vegas will become home to an annual race on the international circuit.

Formula 1 F1 Las Vegas race circuit Nevada odds
F1’s Sao Paulo Grand Prix 2021 is seen on November 14, 2021. Rumors continue to race that Formula 1 has its eyes set on Las Vegas. (Image: F1)

Casino.org’s Scott Roeben is about as far from being a sports junkie as a middle-aged male can be. But the Las Vegas insider nonetheless fields the latest gossip on all things going on in Southern Nevada. And earlier this month, the Vital Vegas proprietor was tipped off that F1 will announce its expansion to the casino capital by month’s end.

Roeben said a “reliable source” told him that F1 will make the Las Vegas announcement next Wednesday, March 30. If the rumor comes true, Las Vegas would join Austin and Miami as the three domestic sites of F1 races.

Miami’s F1 debut is slated for May. Austin’s race — the Circuit of the Americas — dates back to 2012.

F1 held races in Las Vegas in 1981 and 1982 with the Caesars Palace Grand Prix. The event was canned after two years.

Sport Gaining Betting Action

Betting on F1 races has gained popularity in the US, though it continues to lag greatly behind NASCAR. The Netflix series “Formula 1: Drive to Survive” has been credited for increasing the international racing circuit’s appeal stateside.

F1 betting is much more robust throughout Europe and Australia. Italy, Germany, and the UK lead the way in terms of most F1 races held.

F1 is in the Middle East this week for the Saudi Arabi Grand Prix. It’s only the second year of the event. Twenty drivers are expected to compete in the 50-lap race around the Jeddah Corniche Circuit. The night race is one of only five of its kind on the F1 schedule.

The circuit is additionally one of the fastest street tracks in F1, with cars averaging speeds around 160 mph. The Saudi Arabi track is the second-longest on the Formula One calendar.

As for Sunday’s race, DraftKings has team Ferrari as the betting front-runner at -140. A winning $100 bet on that line nets $71.43. Red Bull Racing is next at +130. Rounding out the top five are Mercedes at +1400 and Alfa Romeo and AlphaTauri at +3500.

It’s unknown just how much F1 action US oddsmakers take on a typical race. That’s due to state gaming regulators typically grouping motorsports into the “other” category with other, less-popular sports, such as boxing, tennis, and soccer.

New Jersey, for instance, which was the richest sports betting state in the US last year, only breaks down its sports betting revenue by football, basketball, baseball, and parlay. Every other sport and/or bet falls into the “other” grouping.

Las Vegas Routing

F1 races are held either on closed public streets or on a dedicated track. Since Las Vegas doesn’t have the latter, the rumor mill suggests that F1 officials will seek to design a circuit using public streets around the Strip.

The Strip’s many overpasses would make for ideal viewing spots. The Las Vegas Review-Journal reporting on the F1 rumors adds that the racing series would be on the hook for improving road conditions to ready them for the mid-engine, open-wheel, semi-open cockpit supercars.

Las Vegas is a most ideal spot for an F1 event. With nearly guaranteed sunshine and a robust market that supports not one, but two annual NASCAR Cup Series events, bringing F1 to town appears to be a solid bet for success.