Originally Published: 08 NOV 22 05:26 ET

By Amy Woodyatt, CNN

(CNN) -- Formula One is finally heading back to Sin City next November for its first race since the 1980s -- but those wanting to catch sight of the hotly anticipated event had better have a serious chunk of change.

Even a standing ticket at the night time spectacle, past the Las Vegas Strip's famous landmarks, hotels and casinos, won't come cheap, with three-day access coming in at a hefty price tag of $500.

For those wanting the option of sitting down, a seat in one of the grandstands will set them back between $2,000-2,500 for three days.

Despite the cost, those tickets have already sold out, but more packages will be released in the coming months, according to F1.

Meanwhile, four days in VIP hospitality is advertised at $10,000, with potential fans encouraged to inquire about availability.

Hotels have already started to advertise bookings for race week, with VIP room and ticket packages at Caesars Palace advertised from an average of $8,000 to $11,590 a night.

Next year's Vegas GP is the third US location on the scheduled calendar alongside Miami and Austin, marking F1's continued expansion in the US.

The popularity of the "Drive to Survive" Netflix series has been credited -- including by the drivers -- with growing the sport's audience in the United States.

"Most of us experience the effect it's had on the sport. There's certainly been a lot of growth and I honestly see that most in America," McLaren driver Daniel Ricciardo said in October 2021, while his teammate Lando Norris said: "I think it's a cool thing. Coming to America, there are so many people who are now into Formula One just because of watching 'Drive to Survive.'"

Although Vegas hosted the Caesars Palace Grands Prix in 1981 and 1982, this will be the first time a race has been staged on the iconic Strip.

This time, the 3.8-mile track will feature 14 turns and drivers are expected to reach top speeds of around 212 miles per hour (342 kilometers per hour) over the course of the 50-lap race.