With the Las Vegas Grand Prix only a week away and thousands of tickets still unsold, prices have been plummeting. Ticket brokers and speculators are desperately trying to sell their tickets for well under face value just to cut their losses.
Whilst those resellers might be left heavily out of pocket, the huge price drop means us F1 fans are finally seeing some relatively affordable ticket options for the Las Vegas Grand Prix.
I’ve done an analysis of the number of unsold Las Vegas F1 tickets and found some examples of hugely discounted tickets.
Formula 1 is coming to Las Vegas for the first time in over 40 years. With the sport’s new found US audience thanks to the massively popular Netflix show Drive to Survive, F1 is trying to capitalize on its Western fan-base by making the Vegas Grand Prix the third American F1 event this year.
But unlike almost all of the other rounds on the 2023 F1 calendar, the Las Vegas Grand Prix is far from sold out. And that’s having a massive effect on the current price of tickets with only a matter of days until the event begins.
Lack of demand
So why are the Las Vegas F1 tickets not selling? Here’s a few reasons:
- Surge in US F1 popularity thanks to Drive to Survive is waning after 5 seasons
- Max Verstappen and Red Bull have already won the 2023 World Championship and will undoubtedly dominate the race
- The tickets are the most expensive F1 tickets ever released
That third point is the big one. When the Las Vegas F1 tickets first went on sale at the end of 2022 their prices sent shockwaves across the motorsport fan community.
These were the official Vegas Grand Prix ticket prices for General Admission and Grandstand.
That’s right. Over $2500 for a grandstand ticket. That’s hundreds of dollars more than you’d pay at the next most expensive F1 races like Miami and Monaco. And over 4 times the $670 you’d pay for a 3-day seat in the incredible Gold 3 Grandstand at Spa Francorchamps for the Belgian GP.
These sky-high ticket prices were a big turn off. The American fanbase accused the organisers of ripping them off, and haven’t been buying.
Tens of thousands of unsold tickets
To find out just how many tickets are still unsold with only a week to go before the event begins, I decided to count them.
Using the official Las Vegas Grand Prix ticket platform on Ticketmaster, plus with a little help from some smart counting software, I went through each grandstand in the Sphere and East Harmon zones and counted the dots.
The tickets on Ticketmaster are split in to two types: Official and Verified Reseller tickets.
Official tickets (blue dots) are those still available from Vegas GP themselves. Verified Reseller tickets (pink dots) are from people who’d previously purchased them off Ticketmaster and are now trying to sell them again.
The other grandstands (West Harmon, Mirage, Bellagio) don’t have individual ticket information available so I discounted those.
Below is the number of unsold tickets for the Las Vegas Grand Prix, as of November 8th 2023.
A total of 10,001 tickets are still unsold across the Sphere and East Harmon zone grandstands. That’s a huge amount for an F1 event, especially considering there’s a whole number of other grandstands that I couldn’t get data for.
Ticket resellers are squirming
As demand has been much lower than expected, the tables have turned for the ticket sellers. Rather than being able to charge hefty premiums for their tickets once the official ones sell out, they’re now starting to sweat as the F1 looms and their tickets aren’t selling.
What are their options? Keep the tickets for themselves and go to the event, or cut their losses, lower their prices and sell them for whatever they can get for them.
And that’s what is happening now.
Huge discounts to be had
The resellers trying to flog their tickets via Ticketmaster Verified Resale are met with a limit on how low they can price them. The race organisers have done this to keep prices high, but that’s no good if nobody’s buying.
So instead the brokers and speculators have turned to the third-party ticket reselling platforms like Stubhub. Stubhub is usually where you’d go when the official tickets are sold out and you’re willing to pay a hefty bit extra over face value for one. But not this time.
To show the difference in prices I’ve picked out a few examples where the same tickets are being sold on Ticketmaster Verified Resale (TM VR) and Stubhub (SH) platforms. The price differences and discounts are pretty amazing.
SG2 102 Row 20
- TM: $2180
- SH: $1197
- 46% reduction
- TM: $2180
- SH: $1316
- 40% reduction
PG2 104 – 5 Tickets Row 24
- TM VR: $1594
- SH: $932
- 42% reduction
PG2 105 – 5 Tickets Row 18
- TM VR: $1772
- SH: $976
- 45% reduction
PG1 103 – 2 Tickets Row 32
- TM VR: $2298
- SH: $1620
- 30% reduction
SG6 105 – 2 Tickets Row 19
- TM VR: $2300
- SH: $1701
- 26% reduction
SG7 104 – 2 Tickets Row 21
- TM VR: $1600
- SH: $1256
- 11% reduction
SG4 102 – 1 Ticket Row 11
- TM VR: $2800
- SH: $1498
- 46% reduction
Considering the TM VR prices are a little lower than some official prices, the reductions over face value can be even higher than those listed above. Have a nose around the two sites yourself and you’ll see just how many cheap tickets are already available.
Want a bargain? Hold your nerve.
As the F1 gets nearer I can only imagine the prices will keep coming down as the sellers panic. If you want to try and grab a bargain then holding your nerve for a few more days might just mean you net yourself a super cheap Vegas F1 ticket after all. That’s what I’m planning on doing.
Note: StubHub is not an officially recognised ticket reseller for the Las Vegas Grand Prix and using it comes with a level of risk of being on the wrong end of a fraudulent transaction. But their FanProtect 100% Guarantee is pretty robust.