Indycar: Indianapolis 500 Betting Odds Preview

Lugnuts of Wisdom for America's Biggest Racing Event

The Indianapolis 500 is Back!

It’s back! Well, technically the Indianapolis 500 never left but for the first time since the pandemic, we will have a full capacity crowd in attendance (last years race was limited to 135,000 fans). The Indianapolis 500 betting odds feature a six-way race at the top, although, we have up to eight former champions all competing for the IndyCar races’ crown jewel, including the last seven winners.

2022 Indianapolis 500 Information

  • Race: Indianapolis 500
  • Location: Indianapolis Motor Speedway
  • Day/Time: Sunday, May 29, 11:00 a.m.
  • Television: NBC

The ‘Fast Six’: The Indianapolis 500’s Frontrunners

The IndyCar betting odds features six drivers all jockeying for position. It is led by the trio of Alex Palou, Colton Herta, and Josef Newgarden all at 8-1. Most recently, Scott Dixon has taken serious money and is now tied with the four and at 9-1 are Pato O’Ward and Scott McLaughlin.

Four of these six have already won a race this season and are all in the top seven in points. But only Dixon can claim to have won the Indianapolis 500, which he did back in 2008. The New Zealander is gaining momentum on the betting lines thanks to recording the fastest practice speed in both the Veteran Only Test in April and in May.

On the flip side, Newgarden finished with the top practice speed in the Open Test. The two-time IndyCar Series Champion also won the Texas Motor Speedway and Long Beach although, he has not recorded a pole position or the fastest lap in any of the last five races.

McLaughlin started off hot by dominating St. Petersburg and he also recorded the second-fastest time in the veteran’s test in April behind Dixon. He is currently third in the standings behind Will Power and Palou. The Spaniard, Palou, has yet to win a race this season but has finished in second place and twice recorded the fastest lap. Check out all of the greatest indycar betting odds, right here.

Herta and O’Ward are also the winners of the last two races, the IMS GMR GP and Birmingham, respectively, however, the two have also had only two top-five finishes for the season.

Former Champions Can’t Be Counted Out

Most of the former Indianapolis 500 champions in the race are a threat to win even if they are far down the standings. For this reason, the Indianapolis 500 Betting Odds become ever more important.

Last year’s champion, Helio Castroneves looks to become the first driver to win the Indianapolis 500 for the fifth time. He’s also the last driver to win the Indy 500 in consecutive years, hence why he’s a trendy driver to back. He opened at 20-1 and has since shortened to 16-1 at the sportsbook.

Two-time champion Takuma Sato isn’t having the best season and hasn’t finished in the top five, however, he did come in seventh in the IGP1.  The Japanese driver has not won the IndyCar Series but is a wild card in big races like this. So far he’s finished first in the combined session and second in the open test. At 20-1, Sato could become just the third driver after Castroneves and Dario Franchitti to win the Indy 500 three times in this century.

Frenchman Simon Pagenaud won in 2019 and was the 2016 IndyCar Series Champion. He finished behind Herta in the IGP1 so he has some momentum heading to this race. Now, racing with Meyer Shank as Castroneves teammate, Pagenaud finished third in last year’s Indy 500 and has had four top-10 finishes in his last seven attempts.

And of course, there is Power. At 12-1, Power trails the top-six drivers on the betting lines despite leading the driver standings. The knock on Power is that he’s never won a race this year nor has he finished in second place. He has consistently finished in the top four, however, and was the 2014 IndyCar Series Champion. Be sure to check the latest and most up to date Indianapolis 500 Betting Odds.

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