2024 Indy 500 Odds and Expert Pick
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The Indianapolis 500 is one of the premier IndyCar races of the year, and you can wager on it with the latest Indy 500 odds. Betting on the famous race is a great way to put your motorsports knowledge to the test.
This year’s race is scheduled for Saturday, May 26th. Keep reading to see the latest Indy 500 betting odds and my betting predictions. I will also tell you how to bet on the Indianapolis 500 using the top sports betting sites online.
Indy 500 Odds
Dozens of the best IndyCar drivers in the world will descend on Indianapolis this weekend. Check out the table below for the latest 2024 Indy 500 odds, courtesy of Bovada Sportsbook.
| Driver | Indy 500 Odds | Driver | Indy 500 Odds |
| Alex Palou | +500 | Pato O’Ward | +500 |
| Scott Dixon | +700 | Kyle Larson | +750 |
| Josef Newgarden | +800 | Alexander Rossi | +1200 |
| Scott McLaughlin | +1400 | Will Power | +1400 |
| Colton Herta | +1600 | Marcus Ericsson | +1800 |
| Kyle Kirkwood | +2500 | Felix Rosenqvist | +2800 |
| Rinus VeeKay | +3000 | Takuma Sato | +3000 |
| Christian Rasmussen | +3300 | Linus Lundqvist | +3300 |
| Santino Ferrucci | +3300 | Christian Lundgaard | +4000 |
| Callum Ilott | +4500 | Helio Castroneves | +4500 |
Alex Palou and Pato O’Ward are tied for the best Indy 500 odds at +500. They are closely followed by Scott Dixon (+700) and Kyle Larson (+750). Josef Newgarden rounds out the top five at +800.
Many other recognizable names will be competing in Indianapolis this year as well. Alexander Rossi (+1200), Will Power (+1400), and Kyle Kirkwood (+2500) are all ranked in the top 10 of the IndyCar Series standings and will compete this weekend. Callum Ilott and Helio Castroneves round out the top 20 at +4500 odds each.
Alex Palou (+500)
Alex Palou is currently at the top of the 2024 IndyCar Series standings with 152 points. Real money sportsbooks have Palou tied for the best odds to win the 2024 Indy 500 at +500.
Palou’s odds have shortened slightly in the last six weeks. He was listed at +550 to win this year’s Indy 500 at the end of March. The Chip Ganassi Racing driver has one win this season, and has finished top five four different times.
He started in the inside position in row one last season, but Palou finished fourth in the 2023 Indy 500. He should have a good starting position again this year and a great chance to win his first Indy 500. A win would also move him one step closer to winning his third IndyCar Series Championship in five years.
Pato O’Ward (+500)
The driver tied for the best 2024 Indy 500 odds is Pato O’Ward. He was listed at +650 in March, but O’Ward is now listed at +500 to claim the Borg-Warner Trophy this year.
O’Ward is looking to bounce back from a disappointing start to the season. His win at the Firestone Grand Prix of St. Petersburg is O’Ward’s only top-10 finish so far this year. It is the first time since 2019 that O’Ward has failed to secure at least two top-10 finishes before the Indianapolis 500.
To add to the pressure on O’Ward. He had the worst showing of his career in Indy last season. He finished 24th after finishing in at least the top six in each of the three previous years.
Kyle Larson (+750)
Another driver to keep an eye on is Kyle Larson, who has the fourth-best Indy 500 odds at +750. Larson is attempting to pull double duty this year by racing in both the NASCAR Coca-Cola 600 and the Indy 500. Only four other drivers have attempted the Memorial Day Double.
Weather delays could severely hinder Larson’s ability to complete the rare feat. Larson is prioritizing the Coca-Cola 600 and could opt out of the Indy 500 altogether. If Larson skips Indy, he will be replaced by Tony Kanaan.
Assuming Larson is able to drive in both races, he will be a threat in Indy. However, the fact that he could miss the race due to the weather makes Larson a risky bet.
Josef Newgarden (+800)
The reigning Indy 500 champion has had a slow start to the 2024 season. Josef Newgarden won his first Borg-Warner Trophy last year and is listed at +800 to win it again this year. If he wins, Newgarden will be the first person to go back-to-back since Helio Castroneves more than two decades ago.
Newgarden has earned just 61 points this season and has only finished in the top five once. He is currently ranked 17th in the IndyCar Series, which will hurt his starting position on race day.
One the other hand, poor starting position did stop Newgarden last year. He started at 17th and still managed to find his way to the front. Newgarden will need to overcome a similar obstacle this year.
Will Power (+1400)
Will Power currently has 140 points in the 2024 IndyCar Series, the second-most of any driver this season. However, he is tied for just the seventh-best Indy 500 betting odds at +1400. Power has the same odds as New Zealand driver Scott McLaughlin.
Power won the Indy 500 in 2018, but his last top-10 finish came in 2019. He is also one of the oldest drivers competing in Indianapolis this weekend. Power has competed in nearly 300 IndyCar races in his career, and the veteran driver certainly has enough experience to lean on during the race.
Felix Rosenqvist (+2800)
Another driver ranked in the top five of the 2024 IndyCar Series standings is Felix Rosenqvist. He has 107 points so far, making him one of five drivers to have over 100 points this season. Despite having the fifth-most points, Rosenqvist is listed at +2800 to win in Indianapolis.
Rosenqvist has four top-10 finishes this season, but he has yet to win a race. His best finish in Indy came in 2022 when he finished fourth as a member of Arrow McLaren SP. This is Rosenqvist’s first season as a driver for Meyer Shank Racing.
Who Will Win the Indy 500?
Dozens of talented drivers will compete in Indianapolis this weekend, but only one will win the 2024 Indy 500. Alex Palou and Will Power are both off to hot starts, but I think a different driver will claim victory in Indianapolis.
Josef Newgarden was listed at +600 in March, but his slow start to the season has had a noticeable impact on his chances. Newgarden’s Indy 500 betting odds have faded to +800. He overcame the odds and a less-than-ideal starting position last year, and I believe Newgarden will do it again this year.
Prediction: Josef Newgarden wins the 2024 Indy 500 (+800)
Where Can I Bet on the Indy 500 Online?
The Indianapolis 500 is one of the must-watch racing events of the year. You can bet on this thrilling IndyCar event using these secure sports betting sites.
Bovada
Bovada Sportsbook is a great place to wager on the most exciting upcoming IndyCar races. You can find the latest 2024 Indy 500 odds in the table above.
If you are new to Bovada, then you can claim an exciting sports betting bonus worth up to $350. Or, if you deposit with Bitcoin, you can get up to $750 in extra funds. The standard and crypto welcome bonuses offer a 50% and 75% deposit match, respectively.
BetUS
Another great sportsbook for motorsports fans is BetUS Sportsbook. This site offers odds on both IndyCar and NASCAR events. You can claim a great welcome bonus to help you fund your Indy 500 bankroll.
BetUS offers a 100% match of up to $2,500 on your first three deposits. Or you can claim a 150% crypto welcome bonus worth up to $3,750. Both bonuses are great ways to build up your bankroll for the Indy 500.
Everygame
Everygame Sportsbook is also a great place to bet on the upcoming Indianapolis 500 race. You can wager on competitive odds for the race and take advantage of rewarding bonus offers.
This sportsbook offers a 100% deposit match worth up to $500 to members making their first deposit. There is also a 50% crypto match worth up to $1,000. Everygame offers exciting parlay promotions, refer-a-friend bonuses, and other great sports bonus options as well.
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Whose Indy 500 Odds Will You Bet On?
The Indianapolis 500 is the highlight of the IndyCar season. You can make race day even more exciting by betting on the race itself. Alex Palou and Pato O’Ward are tied for the best 2024 Indy 500 odds at +500.
Check out the table above to see the latest Indy 500 odds for the top 20 drivers competing in Indianapolis this weekend. You can also read my predictions to see who you should bet on for this year’s Indy 500. Check out Bovada Sportsbook for more IndyCar odds.
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