Where to Bet Indy 500
Nearly every legal online sportsbook in the US will offer wagers on the race. Here are some of the ones we recommend: Bet365, Draft Kings, Caesar’s Sports Book, Bet MGM, Fan Duel, Fox Bet, Points Bet, Tipico Sports Book, Sugarhouse.
Current Indy 500 Odds
Each site will have sightly different odds, so shop around for the best odds for the racer of your choice. Here are the up to date odds from Bet MGM.
- Jonet Newgarden 7-1
- Scott Dixon 7-1
- Colton Herta 9-1
- Patrick O’Ward 9-1
- Alex Palou 10-1
- Scott McLaughlin 10-1
- Will Power 12-1
- Hello Castroneves 18-1
- Alex Rossi 18-1
- Tony Kanan 18-1
- Graham Rahal 20-1
- Takama Sato 20-1
- Simon Pagenaud 22-1
- Marcus Ericsson 25-1
- Roman Grosjean 25-1
- Jimmie Johnson 25-1
- Rinus Veekay 25-1
- Juan Pablo Montoya 28-1
- Ed Carpenter 40-1
The odds are based on a bet of $1. So if you were to wager $10 on Scott Dixon at 7-1, you would win $70.
Favorites and Contenders According to Their Indy500 Betting Odds
Here are some notes on the drivers:
- Hello Castroneves is the defending champion and has won the race four times (2001, 2002, 2009, 2021).
- Alex Palou finished second in last year’s race and some feel he’s ready to win this time.
- New Zealander Scott Dixon, one of the co-favorites, won the race in 2008.
- Will Power, from Australia, won the race in 2018.
- Alex Rossi, of the USA, was the winner in 2016.
- Brazilian Tony Kanan won the race in 2013.
- Takama Soto, of Japan, won the race in 2017 and 2020 and is attractive bet at 20-1.
- Simon Pagenaud, of France, took the race in 2019.
- Juan Pablo Montoya, of Colombia, won in 2015.
- The most interesting racer in the field is Jimmy Johnson, who will make his Indy debut this year. Johnson is a seven-time NASCAR Cup Champion who make the switch to Indy racing.
Type of Indy 500 Bets
As stated above there is more than one way to bet the Indy 500. Here are the most popular:
How To Bet Indy 500: Picking the Winner
It’s the simplest and most popular bet. Every site will offer the chance to pick the winner at his given odds. Again a wager on a racer at 10-1 will pay $10 for every $1 wagered.
Because of the unpredictability of the race, you never know what may happen over the course of 500 miles, the odds are usually pretty good. In our chart above the favorite is 7-1, that’s not bad at all if you compare it with horse racing, for instance.
How To Bet Indy 500: Top 3 Finish
If you are familiar with betting on horse racing you will recognize this bet. Betting a top 3 finish is similar to betting a horse to win, place and show.
Pick a racer, place your wager and should he finishes first, second, or third, you are a winner. Obviously, the odds are less and the payout is smaller if he finishes second and even less again if he finishes third. But you still cash a ticket.
How To Bet Indy 500: Head to Head Matchups
Here you will be presented with two drivers. Let’s say for an example Alex Rossi vs. Alex Palou in a battle of Alexes. In this example Palou would likely be the favorite at say -125 and Rossi would be the underdog at say +115.
That means if you think Palou will finish better than Rossi you would need to wager $125 to win $100. If you think Rossi can beat Palou, you would win $115 for a $100 wager. There will likely be several of these head-to-head matchups for you to choose.
How To Bet Indy 500: Futures Bets
You’re running out of time for a future bet. Some sites may still offer them if you hurry. Basically it’s the same as picking the winner, but the odds may better because of the timing. A lot can happen in the span of one or two weeks, but once you make your bet it’s registered.
How To Bet Indy 500: Proposition Bets
“Prop’’ bets as they are known usually focus on a certain angle and not necessarily an individual racer. You may be able to wager on such variables as which country produces the winner, or which past champion finishes the best in the race.
Some sites may also offer choices as to who finishes last in the race or how fast the winner’s time is. There will be several of these bets available and while they appear tempting some times you’re better off sticking to the more traditional forms of wagering.
Bet Indy 500 Online
Betting the Indy 500 isn’t any different than betting on a soccer game or an American football game. Go to the site of your choice, open an account if you don’t already have one, search for Indianapolis 500 and decide if you want to bet to win, bet for a top 3 finish, or whatever else you may want to bet.
Indy 500 Betting Tips and Strategies
Everyone has their own theories on how to pick a winner. There isn’t any set method. If there was, everyone would win, right? Here are a few things to think about before you bet.
- Try to get a good price. Which means you want good value. Just because a racer is the favorite doesn’t mean he’s going to win. Don’t be scared of the odds if you like a racer who has higher odds, that’s a good thing.
- Bet with your head, not your heart. You may like a certain racer or you may favor a countryman. That’s all well and good, but that doesn’t mean he’s the best racer. You have to put your bias aside some times to pick the winner and earn your money.
- Stick to a budget. Tell yourself how much you want to wager on the race, what you can afford to lose, and don’t go over that number. It’s easy to get carried away with all the different kinds of bets made available to you. Don’t bet more than you can afford to lose.
- Don’t bet against yourself. Picking more than one racer to win is basically throwing away one bet, because only one racer is going to win the race. If you like more than one and can’t decide bet them both to finish in the top 3, and you may get lucky and win both bets. Or look for the racer you like in the matchups.
Understanding Indy 500
- Date: Sunday, May 29
- Start Time: 11 AM (EDT)
- Track: Indianapolis Motor Speedway, Indianapolis, Indiana: Nicknamed “The Brickyard’’, the speedway is a rectangular oval and is the highest capacity sports venue in the world. There is seating for over 250,000 and over 300,000 could be in attendance on race day.
- Distance: 500 miles (200 laps around the track): The 500-mile race is an Indy Car Race, which means the racers are in an open-wheel, open-cockpit format. The tires and the drivers are exposed to the open air.
- Surface: Asphalt and brick
- TV: NBC will telecast the race. It will also be available streaming on Hulu, YouTube, Fubo, DirecTV, Sling, and IMS Stream.
- Traditions: Before the race the song “Back Home Again in Indiana’’ will be performed, usually by a famous local singer and most of the crowd, and even some of the drivers join in to sing. After the race, the winner celebrates with a drink from a bottle of milk.
Indy 500 Results
Here is a list of the Indy 500 winner from 2010 to last year with his speed for the race in parenthesis.
- 2010: Dario Franchitti (161.623 mph)
- 2011: Dan Wheldon (170.265 mph)
- 2012: Dario Franchitti (167.734)
- 2013: Tony Kanaan (187.433)
- 2014: Ryan Hunter Reay (186.563)
- 2015: Juan Pablo Montoya (161.341)
- 2016: Alex Rossi (166.634)
- 2017: Takuma Sato (155.395)
- 2018: Will Power (166.935)
- 2019: Simon Pagenaud (175.794)
- 2020: Takuma Sato (157.824)
- 2021: Hello Castroneves (190.690)
Most Wins: Hello Castroneves will attempt to become the first five-time winner of the Indy 500. Currently Castroneves is one of four, four-time winners. In that elite club is A.J. Foyt, who won the race in 1961, 1964, 1966 and 1967; Al Unser, who won the race in 1970, 1971, 1978 and 1987; and Rick Mears, who won the race in 1979, 1984, 1988, and 1991. Castroneves’ wins came in 2001, 2002, 2009 and 2021.
The 2021 Indy 500 Race:
Here are the top 10 finishers from last year’s race with their speed in parenthesis:
- Hello Castroneves (190.690 mph)
- Alex Palou (190.680 mph)
- Simon Pagenaud (190.679)
- Patrick O’Ward (190.671)
- Ed Carpenter (190.665)
- Santino Ferrucci (190.507)
- Sage Karam (190.419)
- Rinus van Kalmthout (190.403)
- Juan Pablo Montoya (190.390)
- Tony Kanaan (190.379)
How much money does the indy 500 winners get?
The Covid 19 pandemic played havoc with the Indy 500 the past few years. Last year the crowd returned to Indy, but “only’’ 135,000 were in attendance as opposed to the normal 250,000-300,000. Those numbers affect how much is in the purse for the drivers to split.
Last year’s winner Hello Castroneves earned just over $1.82 million for his win. Second-place finisher Alex Palou earned $649,305, while third-place finisher Simon Pagenaud won $403,305.
Rounding out the top five, Patrick O’Ward took home $343,305 for his fourth-place finish and Ed Carpenter received $286,305 for his fifth-place finish.
Stefan Wilson, who finished 33rd and last received $100,305.
Indy 500 Prediction Time
My top choice for the race is Alex Palou and at 10-1 odds is a good value pick as well. Palou won his first-ever race in 2021 and had a strong second-place finish at Indy. The 25-year-old native of Spain is just in his third year of racing, but has been getting better and better in each race. In last year’s race Castroneves passed him on the final two laps to win for the fourth time. A now more experienced Palou may be able to hold on for the win.
My second choice is Will Power. The 41-year-old Australian knows what it takes to drink the milk as he did so as recently as 2018. He’s having a good 2022 season on the circuit and after two poor finishes the past two years at Indy is poised to have a nice come back this year. At nice odds of 12-1, I’ll put him in the top 3 and use him in certain match-ups against other racers.
Finally, you can’t leave out Hello Castroneves, especially at odds of 18-1. He’ll be racing for a piece of history as he attempts to become the first five-time winner at The Brickyard. He went back to back in 2001 and 2002 and 20 years later has a chance to do so again. He’s one of the greatest racers of all time and at 18-1 is worth using at least in the top 3 and maybe elsewhere as well.
Sleeper Pick: I may be going against one of my tips and leaning with my heart, instead of my head, here. But it would certainly be a great story if Jimmie Johnson, one of the greatest NASCAR drivers of all-time won the Indy 500 in his first try. He has looked good on the track in preparation.