BetMGM Publishes Information about the F1 Betting Markets ahead of the Race

BetMGM provided some insights into the betting markets for the highly anticipated F1 Heineken Silver Las Vegas Grand Prix 2023. As it turns out, Verstappen commands the bigger part of the F1 handle.

BetMGM is preparing for the historic race, believing that it could become the formula racing event with the largest handle in the company history. Now available in 26 markets, BetMGM operates nine retail sportsbooks within MGM Resorts International’s Las Vegas properties.

According to Matt Prevost, BetMGM’s chief revenue officer, the growth of motorsports’ popularity is nothing short of remarkable.

Race weekend in Las Vegas has the potential to shatter every company record for the sport. Popularity for automotive sports in the U.S. continues to grow and the activity we’re already seeing around this event is remarkable.

Matt Prevost, CRO, BetMGM

BetMGM Provides Insights into the Betting Markets

Publishing some insights into how bettors feel about the event, BetMGM remarked that Max Verstappen’s odds to win moved from -350 to -275. Charles Leclerc’s odds, on the other hand, moved from +2200 to +1600. Fernando Alonso’s odds, meanwhile, changed from +4000 to +2500.

BetMGM also published information about the handle percentage recorded by Max Verstappen, Lando Norris and Sergio Perez. Verstappen remains confidently ahead of his rivals, commanding 58.6% of the total handle. Far behind is Norris with 12.6%, followed by Sergio Perez at 6.8%.

BetMGM’s biggest liability, however, is not Verstappen but Logan Sargeant. Next up are Lando Norris and Sergio Perez.

In terms of the highest ticket percentage, Lando Norris takes the lead with 15.8%. He is followed by Max Verstappen and Sergio Perez with 12.7% and 10.9% respectively.

Finally, the company published information about most bet props. The Sergio Perez to finish top 3 market is currently at +160. The any other driver to win the race versus Verstappen market, meanwhile, is at +200. Finally, the Mercedes car to win the race prop stands at +1200.

Speaking of BetMGM, MGM Resorts’ Bellagio Fountain Club will offer premium experiences during the event, including state-of-the-art dining, cutting-edge viewing experiences, the chance to see the race live and a post-race commentary panel featuring the top racers.

However, some of the arrangements surrounding the event, including the pedestrian bridge view blocks and the disruption of homeless people’s lives have attracted criticism from Las Vegas citizens and tourists.