Caesars Sportsbook senior trader talks F1's explosion in United States

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LAS VEGAS – It’s nearly time for the Las Vegas Grand Prix.

Formula 1’s impact in the United States has increased significantly. 

If the fanfare in Las Vegas didn’t prove it, then three races and the possibility of an American race team joining the fold does. 

And so do the betting markets.

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Red Bull driver Max Verstappen of the Netherlands gets into his car in the garage area during a practice session for the Formula One U.S. Grand Prix Thursday, Nov. 21, 2024, in Las Vegas.  (AP Photo/Matt York)

"I think it was a slow burner initially," Caesars Sportsbook Senior Trader Chris Pearce told Fox News Digital. "I think recently, because there’s more and more Grands Prix in the Northern Hemisphere, and in the U.S., especially with the Austin Grand Prix as well as Vegas, it is picking up.

"And there’s definitely more interest. It’s one of those things that if you spend the time on the products, you offer more markets, you give it the showcase that it deserves, then the punters will latch onto that."

Pearce said the growth in F1 bets exploded over the last few years with the Las Vegas Grand Prix helping in 2023.

"The growth is definitely at least three times higher than when I first took the product over two years ago. And the Vegas Grand Prix has again really helped to grow the products," he said. "Last year, it was the glitz and the sparkle. You don’t really get that from the more established grand prix. Obviously, the British Grand Prix at Silverstone was key globally and was the signature grand prix of the year.

"I think, last year, everybody was looking forward to Vegas more than the