Monaco, a country on the Mediterranean coast between France and Italy, is just under 2 sq km in size. It’s roughly 275,750 times smaller than its French neighbour — or barely more than a small town. Yet, everybody knows Monaco. It’s the home of the Monte Carlo Television, Jazz, and Film festivals and the Monaco Yacht Show. It is also known for its iconic casino.
It attracts Europe’s elite and has even housed James Bond himself. High rollers and those enjoying the finer things in life choose the casino for its elegant gaming facilities. Monaco actually has an important place in casino history.
The popular wheel game roulette first appeared in this part of Europe, which gives its name to the European ruleset. The differences between the European and American games are subtle. British operator Betfair describes the European Roulette wheel as having just a single ‘0’ pocket on the wheel. In contrast, the American version has both a ‘0’ and ’00’ pocket, giving it a larger house ‘edge’, i.e. the amount of a bet the casino keeps each spin.
In one famous incident from 1913, a wheel in Monaco’s Monte Carlo Casino didn’t produce a red pocket until the 27th spin of the night. The red/black bet on a roulette wheel is a 50/50 chance, proving that the odds are just a guide.
Monaco has since become synonymous with upscale entertainment options such as the casino. These exclusive facilities, among other things, make Monaco a haven for many celebrities and professional athletes — including various F1 pilots.
Ayrton Senna
Monaco is synonymous with the high life, but the smoke and oil of its summer Formula 1 race lends the resort an edge. The Late Brazilian driver Ayrton Senna won the race six times between 1987 and 1993, a record that still stands today.
It was claimed most recently by the Monaco-born driver Charles Leclerc, who was chased from start to finish by the Australian and eventual second-place winner Oscar Piastri.
It perhaps shouldn’t surprise that plenty of F1 drivers call Monaco home. After all, they’re present in their numbers in late May and early June each year. The number of sportspeople on this small stretch of the Mediterranean is an oddity, though.
Of the 25 stages in the 2025 schedule, including Suzuka in Japan, Miami and Las Vegas in the US, Barcelona in Spain, and São Paulo in Brazil, Monaco seems to attract the most permanent residents.
Lando Norris
In April 2024, the Autosport website claimed that “half” of the twenty drivers on the grid that year lived in Monaco, even with Monaco’s housing pressures meaning house prices are comparable to that of London’s most expensive districts. Why? The simple answer is that the principality doesn’t charge income tax on residents present for at least six months and one day.
Other stipulations include £500,000 in the bank and – strangely – that the occupant isn’t French. People from France pay their taxes to their home nation.
The list of Formula 1 drivers currently living in Monaco includes Lewis Hamilton, Lando Norris, and Max Verstappen. Norris, a British racer for McLaren, earned some criticism for moving to the Mediterranean in 2021, especially considering the McLaren team’s base is in Woking, Surrey. “I could just go in on whatever day to be on the simulator”, Norris said on social media about his previous home in England.
Of course, there’s much to be said about the climate in Monaco, too. It can be a bit more pleasant than a February in Woking.
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