BetMGM pins hopes on Las Vegas Grand Prix

BetMGM has a firm opinion that the Las Vegas Grand Prix will be extremely beneficial for them and will be a big-time event regarding formula racing. The company’s online and mobile versions are accessible in 26 states of North America. It is known to be third in line amongst the giants of US internet sportsbook operators. 

The positive outlook of BetMGM towards the Formula 1 race stems from the fact that there is sure to be plenty of traction at MGM Resorts International’s 9 strip retail sportsbooks, all situated really close to the race track. 

According to the Chief Revenue Officer of BetMGM, Matt Prevost, the F1 can break any record ever set. Automotive sports are becoming more sought after with each passing year in the US. MGM is half owner of BetMGM, the other half being run by Entain, a UK gaming leader.

There are apprehensions that the Las Vegas Grand Prix may not be so attractive due to the fact that the 2023 series competition was closed just a few weeks prior by Max Verstappen, a Dutch driver. Being his third continuous victory, the odds against him will automatically lessen as in other non-team sports like golf and tennis. Currently, Verstappen stands for 58.6% in the case of a handle on the race at MGM. 

He is not considered as the biggest blameworthy person so far as the sportsbook operators are concerned. There is also Williams Racing’s Logan Sargean. After him comes Alex Albon and Nicolas Hulkenberg. McLaren’s Lando Norris and Red Bull’s Red Bull Racing follow Verstappen, accounting for 19.4%.  

Verstappen has been forbidden to win the Las Vegas Grand Prix, and betting enthusiasts seek favorable prop bets.  

BetMGM believes that the highest bet prop is Perez, a teammate of Verstappen who will be amongst the first three winners. The offer stands at +160, wagering at $100 for winning $160. Following that will be a racer up against Verstappen at +200.   

Over and above that, a Mercedes car winning the race will post +1,200, the third largest betting amount amongst the Las Vegas Grand Prix prop at BetMGM.