22/02/2021
NEWS STORY
With the F1 season just around the corner; we thought we would take a look at one of the most famous venues on the tour, Monaco.
Taking place at the end of May, the Monaco Grand Prix is one of the most glamorous and prestigious courses on the F1 calendar.
Monaco is most famous for its glitz, glamour and decadence.Famous for its feature multitude of casinos in the city Monaco has no shortage of entertainment. In these casinos, you can play some of your favourite table games, slot games and roulette wheels. Whilst many of us may have to play new online slots instead of the real thing due to the current travel restrictions, we thought we would detail some of the fascinating facts and quirks about the principality of Monaco in addition to one of the highlights of the F1 calendar.
Citizens of Monaco are forbidden by law from gambling
As we previously mentioned, Monaco is well known for glamorous casinos that are dotted around the principality and attract tonnes of tourists. The F1 circuit even includes a turn around, which is known as Casino Square. However, Monaco residents are forbidden from gambling in any of the country's casinos by law.
More than 75% of Monaco's residents are Foreign-born
In spite of this, the law is only applicable to those born in Monaco. This means that 75% of the population living in Monaco can still gamble in Monaco's casinos. Just under 10,000 of Monaco's 38,300 residents were born in Monaco.
Shortest Grand Prix Circuit
Since 1929, the Monaco Grand Prix has attracted some of the most prestigious drivers from the F1 world. At just 3.340 kilometres long, the Monaco Grand Prix has the shortest track on the F1 calendar. The track, though, does make up for this short distance, in the number of laps, that being 78, which is, in turn, the most of any circuit in F1. Senna holds the record for most Monaco GP wins, boasting a total of 6. Mclaren holds first place with constructors with the most wins.
The average home in Monaco costs £3268.45 per square foot
This is significantly higher than many of the most expensive housing markets, beating the likes of New York and Hong Kong. In Hong Kong, the average house price per square foot is £2050, whilst in Manhattan, the real estate cost on average is £1270 per square foot.
For a small one-bedroom flat in Monaco, buyers can expect to pay in the region of at least £1.14 million, according to Alexander Kraft, the chairman of Sotheby's International Realty France-Monaco.
Most normal apartments in the city-state cost between £1.57 million and £15.76 million, Kraft said, with the higher end penthouses going for nearly £40 million.
Prices are also on the up as Bloomberg reported it in 2017, that prices had risen 18%.
33 Kilometres of safety rails
The most prestigious race is also one of the safest. There is an incredible 33 kilometres of safety rails erected around the track each year. This is in addition to the 3600 tyres used in the tyre barriers and 20,000 square metres of wire catch fencing. This is just as much to protect the immaculate buildings of the cityscape as well as the cars and drivers.
Triple Crown of Motorsport
One of the most prestigious races in Formula One is also part of one of the most prestigious achievements in motorsport. The Monaco Grand Prix is part of the Triple Crown of Motorsport. The other two races are the Indianapolis 500 and the Le Mans 24 hour race. Together, these three races are the world's most prestigious trio of motor races, that all drivers would love to win in their motorsport careers.
Monaco is smaller than Central Park
We all know that Monaco isn't the biggest nation globally, but it is even smaller than you think. Monaco is significantly smaller than Central Park, in New York . At just 2.02 square kilometres in comparison to Central Park, covering 3.41 square kilometers, it shows that the wealth is packed into space less than one square mile.
Thursday Practice Day
Unlike any other race on the F1 calendar, a practice race day is held on the Thursday before the event instead of the typical Friday. This is so that the streets can be opened up for trading on Friday - it's the busiest day of the week.
City Track
The Monaco Grand Prix is a very unique event in that the track has been kept the same,the race has been held on the same circuit since the first race in 1929. The only other circuit that can boast a similar record is the Italian Grand Prix that is held at the Autodromo Nazionale Monza, which opened in 1922, however the circuit was revamped in 1954.