Indycar: Indianapolis 500 Betting Bonanza

Indianapolis 500 Money Going one Direction

The Indianapolis 500 is this weekend and the IndyCar’s biggest event – it’s almost like the Super Bowl of motorsports betting. The Indianapolis 500 betting bonanza features plenty of markets worth sprinkling some money at. We have talked about the Indianapolis 500 previously, but since then there have been some significant line movements.

2022 Indianapolis 500 Info

• Race: Indianapolis 500
• Location: Indianapolis Motor Speedway
• Day/Time: Sunday, 11:00 a.m.
• Television: NBC

Scott Dixon Running away With the Odds

What started out as a four-way tie (six if we include a pair who are just behind) with the Indycar betting odds now has a clear frontrunner in Scott Dixon. The New Zealander has received plenty of action over the past few days and now stands ahead at +500 with Alex Palou (+800) and Patricio O’Ward (+850) behind him.

The six-time IndyCar Series champion could be due to win another Indianapolis 500 – it’s been more than 13 years since he won his first and only Indianapolis 500 race. Dixon won pole position following last weekend, marking it the fifth time the Kiwi will enter the Indy 500 as the lead car.

As race fans know, the pole-sitter rarely ever wins the Indianapolis 500. Since Dixon won in 2008 as the pole-sitter, only two other drivers have won it; Helio Castroneves in 2009 and Simon Pagenaud in 2019. Dixon did post a new pole record and the second-fastest four-lap average so he may not just be any ordinary pole-sitter heading to Saturday. This one will be an Indianapolis 500 betting bonanza.

Fading Team Penske and the Rest of the Contenders?

Scott Dixon’s gain is everyone else’s loss. Alex Palou, Colton Herta, and Josef Newgarden, three drivers who constituted the top six on the betting lines prior to qualifying, have their odds lengthened. None of them are projected to finish in the top 3 and neither are Will Power or Helio Castroneves.

Team Penske is the most successful team in the oval with 18 Indy 500 wins, however, last year was a bit of a disaster for the team. Scott McLaughlin finished in 17th, which was the highest among the quartet they sent. Power was not able to race, but this year, Power and McLaughlin both return along with Newgarden.

“We’ve been on a good trajectory,” Newgarden said. “I don’t want to see it flatten too much; I want to see it go the other way. I feel confident with what we’ve got, and feel good at showing up anywhere. Being at Team Penske makes that easier. I always feel confident in our group.”

Team Penske last won the Indy 500 in 2019 with Simon Pagenaud, who is now with Meyer Shank Racing. Chip Ganassi Racing will also be one to watch with the aforementioned Scott Dixon and Alex Palou leading the team. The team has done well with the IndyCar Series but has not won the Indy 500 since Dario Franchitti.

As for Takuma Sato and Helio Castroneves, the multiple-time Indianapolis 500 winners are longshot’s but are still expected to make some noise. Both can be bet to lead at least one lap at pick’em odds or somewhere similar. It’s unlikely the two win the race though, not many foresaw Sato even winning an Indy 500 much less two.

Odds or Evens?

Unlike the Super Bowls’ “heads or tails” bet, betting on the winning car number involves a bit more strategy. Namely, it’s like picking between two teams.

We have an even split when it comes to the former Indianapolis 500 winners; four odd numbers with Tony Kanaan (1), Scott Dixon (9), Alexander Rossi (27), and Takuma Sato (51), and four with even numbers in Juan Pablo Montoya (6), Helio Castroneves (06), Will Power (12), and Simon Pagenaud (60).

Other notables are the contenders on the IndyCar betting odds. Josef Newgarden (2) and Alex Palou (10) are driving even-numbered cars while Scott McLaughlin (3) and Pato O’Ward (5) have odd-numbered vehicles.

Interestingly, the even-numbered vehicles have won eight straight Indianapolis 500 races. The last odd-numbered car to win was with Kanaan (11) back in 2013. Overall, the even bet has cashed in 11 of the last 12 races. Who wins this years Indianapolis 500 betting bonanza?