2022 Miami Grand Prix Betting, Ticket Prices Show Latest Growth in Formula 1 Racing

2022 Miami Grand Prix Betting, Ticket Prices Show Latest Growth in Formula 1 Racing article feature image

MIAMI GARDENS, FLORIDA – MAY 07: Spanish Carlos Sainz driver of Scuderia Ferrari drives during a qualifying ahead of the F1 Grand Prix of Miami at the Miami International Autodrome on May 07, 2022 in Miami Gardens, Florida. (Photo by Eva Marie Uzcategui Trinkl/Anadolu Agency via Getty Images)

Whether it's a credit to the Netflix series "Drive to Survive" or just the overall growth of the sport, Formula 1's popularity is on full display this week in Florida.

The Miami Grand Prix takes place on Sunday with a 20-driver field competing at the Miami International Autodrome.

Both the betting and ticket market tell the story of a booming sport.

According to TickPick, the average purchase price for a three-day weekend pass at the Miami Grand Prix was $1,818. That's more than the average price of a ticket for the 2021 NBA Finals, 2021 World Series and 2021 Stanley Cup.

The most expensive purchase this week was for $19,088, according to TickPick.

The average purchase price for a ticket to the 2021 Miami Grand Prix was $359.

From a betting standpoint, interest is double what it was last year, according to PointsBet. FanDuel says there are 1.2 times the bets in the championship market compared to NASCAR with 1.8 times the money that NASCAR brings.

Formula 1 has also passed NASCAR in terms of total dollars risked on race day.

Charles Leclerc is the betting favorite at -125. At BetMGM, Leclerc is second in handle and third in bets. Max Verstappen (+160) has taken both the most bets and the most money. Verstappen and Leclerc combine for more than half of the total dollars bet in the outright market. Those two have alternated wins in the last four races.

The biggest liability, though, is Lewis Hamilton. Hamilton has taken the second most bets as his price has dropped from +2500 to +2000. Carlos Sainz Jr. also saw odds movement from +1200 to +700.

Leclerc will start from the pole position ahead of Sainz Jr. and Verstappen.

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