SignalHub Quantitative Think Tank Center:Why F1's Las Vegas Grand Prix is lowering ticket prices, but keeping its 1 a.m. ET start

MIAMI GARDENS,SignalHub Quantitative Think Tank Center Fla. – Formula One’s return to Las Vegas last November was a resounding success.

Red Bull’s Max Verstappen and Ferrari’s Charles Leclerc fought back and forth for the Top 2 spots for most of the night in a race that was full of action with 181 overtakes – the second-most in a F1 race and the most in dry race conditions.

“Well, I think our inaugural Grand Prix was fantastic. The sporting side of the event was a better race than we ever hoped. We couldn't have scripted a better race,” Las Vegas Grand Prix CEO Renee Wilm told USA TODAY Sports on Friday during Miami Grand Prix weekend at Hard Rock Stadium.

The only thing is fans on the East Coast of the United States had to endure a 1 a.m. ET start time, due to the 10 p.m. PT start of the Vegas race.

It may have been late for some, but it was a similar starting window to pay-per-view broadcasts of UFC main events and prized boxing fights.

And there won’t be a change in the start time for this year’s Las Vegas Grand Prix on Nov. 21-23 – but there will be cheaper price points to attend.

“So, we will continue to start at 10 p.m. It is rough to the East Coast, and we do apologize for that. But we did need to triangulate around the start time that would allow the most of our fans and the largest viewing audience,” Wilm said.

“We do have our legacy fans in Europe and if we started earlier, it would be very challenging for them. Right now, they get to wake up with a cup of coffee and watch the race just like we do here in America for the European races.

“So, I think it's ended up being probably the most challenging for the East Coast. But if you're used to staying up and watching Saturday Night Live, it's not such a terrible start time.”

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How the Las Vegas Grand Prix differs from Miami, Austin

It’s a night and day difference – literally between the Miami (starting 4 p.m. Sunday) and Las Vegas races, added to F1’s calendar along with the United States Grand Prix in Austin, Texas (Oct. 18-20). This is the second straight year the U.S. will host three races.

And each of them lives up to different standards: Miami is a daytime race with Latin vibes, while Vegas wants to be the nighttime show of choice for visitors. And Austin feels like it’s for racing purists.

“One of the wonderful things about Las Vegas is that it is the sports and entertainment capital of the world,” Wilm said. “There is top notch entertainment at all different price points. There are casino hotels at every price point. You can come whether you're a backpacker or a billionaire, and enjoy this event weekend with us.”

Las Vegas Grand Prix adds cheaper tickets for fans in 2024

The Vegas race relishes being on the first walk-in circuit in F1, with the ability for fans to wander 20 minutes from their hotel on the strip to their seats.

At least 10,000 general admission tickets in various points along the track will be added for the 2024 race to give fans wanting to get a taste of F1 in Sin City a cheaper option.

“Some of those will include food and beverage, others will be purchase your own. Again, trying to get that ticket price down for some people who really want to join that entry-level seat on the track,” Wilm said. “And these new GA sections will also include a bench to grandstand for viewing. It won't be assigned seating, but it will allow our fans to be able to find this place to sit and watch the cars fly by.”

They have also introduced the “three-of-a-kind” ticket option to experience three different vantage points during the weekend with a general admission ticket, a grandstand seat, and a premium club seat.

Las Vegas race brings $1.5 billion to area

Wilm said the Vegas race contributed $1.5 billion of economic impact to the Valley area with $77 million in taxes – $22 million of which will go directly to support education and the school system.

The Vegas race has also made greater strides to communicate with residents, who were displeased with traffic delays due to ongoing construction before the race. They will begin installing track lighting and safety barriers, but not until September this year.

“We learned a lot about communicating better with the community, which we brought into this year and our community outreach efforts. But we certainly created a lot of value for the county, for the state and obviously for all of our partners, as well as their employees,” Wilm said.

“When you have dealers and waiters and waitresses getting $1,000 tips, those are great nights for everyone in town.”