Posted on: October 27, 2023, 01:19h. 

Last updated on: October 27, 2023, 01:19h.

A recent analysis of room rates for the highly anticipated Formula 1 Las Vegas Grand Prix has revealed a significant drop in prices at 13 major Strip resorts. On average, prices have decreased by 58 percent since the initial announcement one year ago. This provides an excellent opportunity for sports betting enthusiasts to take advantage of these reduced rates and plan their stay for the Grand Prix weekend.

In our comprehensive survey conducted by Casino.org, prices were compared from Nov. 2, 2022 (when most rates were initially announced), to a snapshot taken on 9 a.m. Oct. 27, 2023. These prices were directly obtained from resort websites and do not include taxes and resort fees. Please note that room rates and fees can vary daily, so it is essential to stay up-to-date with the latest information. Keep in mind that third-party websites may offer even cheaper rates, and most resorts provide discounts of up to 15% for joining their loyalty clubs.

To help you make an informed decision, we have ranked the resorts based on the percentage decrease in prices. The list starts with the budget-friendly options and ends with the luxury resorts that are popular among Grand Prix attendees.

Resort Price Drops:

1. Rio
Decrease: 83%
$566 to $99

2. Circus Circus
Decrease: 82%
$649 to $116

3. Sahara
Decrease: 79%
$711 to $147

4. Excalibur
Decrease: 72%
$700 to $199

5. MGM Grand
Decrease: 66%
$1,000 to $342

6. (tie) New York-New York
Decrease: 65%
$800 to $284

6. (tie) Mandalay Bay
Decrease: 65%
$933 to $322

7. Luxor
Decrease: 63%
$653 to $242

8. Resorts World
Decrease: 58%
$1,199 to $499

9. Venetian
Decrease: 52%
$1,499 to $719

10. Vdara
Decrease: 51%
$1,400 to $692

11. Bellagio
Decrease: 10%
$1,995 to $1,799

12. Aria
Decrease: 4%
$1,633 to $1,567

Please note that Wynn Las Vegas was not included in our survey as they did not publish rates for the F1 race weekend one year ago.

It is worth mentioning that Caesars Entertainment properties couldn’t be included in our analysis due to technical difficulties on their website at the time of our survey. However, a recent survey conducted by the Las Vegas Review-Journal found similar significant price drops at four Caesars properties for the Grand Prix weekend.

Caesars Entertainment Properties Price Drops:

1. Linq
Decrease: 70%
$2,695 to $811

2. Planet Hollywood
Decrease: 65%
$4,337 to $1,524

3. Paris
Decrease: 57%
$3,498 to $1,513

4. Caesars Palace
Decrease: 55%
$5,323 to $2,420

Reasons Behind the Drop in Prices

According to experts, the significant decrease in room rates does not reflect a lack of interest in the Formula 1 Las Vegas Grand Prix. Instead, it can be attributed to initial over-optimism regarding the base prices due to limited predictive data. Heavy competition among the numerous Las Vegas hotels, with a surplus of available rooms, has also contributed to the downward pressure on prices. Additionally, non race-fans are avoiding the weekend, and many VIP attendees have secured alternative accommodations, impacting resort room demand.

Overall, these drastic price drops provide an excellent opportunity for sports betting enthusiasts to plan an affordable and luxurious stay during the inaugural Formula 1 Las Vegas Grand Prix.