Indy 500 Betting Guide

Odds, Predictions, And How To Bet

1

The 106th edition of the Indianapolis 500 is scheduled for May 29, 2022 in Speedway, Indiana. The 500-mile race is one of the most prestigious in all of motor sports. Together with the Monaco Grand Prix and the 24 Hours of Le Mans, it forms the Triple Crown of Motorsport.

Helio Castroneves will look to defend his title in 2022. Last year, Castroneves made history by becoming a four-time Indy 500 champion.

Indy 500 betting odds 2022

Betting odds for the 2022 Indianapolis 500 have been posted at select US sportsbooks. Click on the price(s) you like below to bet now.

Indy 500 Odds 2022

Scott Dixon
Bet now
+550
Bet now
+650
Bet now
+500
Bet now
+400
Alex Palou
Bet now
+600
Bet now
+650
Bet now
+550
Bet now
+450
Pato O'Ward
Bet now
+900
Bet now
+1200
Bet now
+1000
Bet now
+850
Rinus Veekay
Bet now
+1100
Bet now
+1500
Bet now
+1000
Bet now
+1200
Josef Newgarden
Bet now
+1200
Bet now
+1000
Bet now
+1000
Bet now
+1000
Will Power
Bet now
+1400
Bet now
+1300
Bet now
+1400
Bet now
+1800
Colton Herta
Bet now
+1500
Bet now
+900
Bet now
+1600
Bet now
+1800
Scott McLaughlin
Bet now
+1600
Bet now
+1000
Bet now
+2000
Bet now
+2200
Jimmie Johnson
Bet now
+1600
Bet now
+2400
Bet now
+1600
Bet now
+1600
Takuma Sato
Bet now
+1800
Bet now
+2200
Bet now
+1600
Bet now
+1400
Marcus Ericsson
Bet now
+1800
Bet now
+1700
Bet now
+1600
Bet now
+1400
Ed Carpenter
Bet now
+1800
Bet now
+1600
Bet now
+2000
Bet now
+2200
Tony Kanaan
Bet now
+2000
Bet now
+2400
Bet now
+1800
Bet now
+1800
Felix Rosenqvist
Bet now
+2000
Bet now
+2800
Bet now
+2200
Bet now
+2500
Alexander Rossi
Bet now
+2500
Bet now
+2000
Bet now
+2500
Bet now
+3000
Simon Pagenaud
Bet now
+2500
Bet now
+2800
Bet now
+2500
Bet now
+2500
Helio Castroneves
Bet now
+2800
Bet now
+1900
Bet now
+2800
Bet now
+2500
Graham Rahal
Bet now
+3000
Bet now
+2600
Bet now
+3300
Bet now
+5000
Romain Grosjean
Bet now
+3000
Bet now
+3000
Bet now
+2500
Bet now
+2500
Marco Andretti
Bet now
+5000
Bet now
+5000
Bet now
+6600
Bet now
+6000
Conor Daly
Bet now
+5000
Bet now
+5000
Bet now
+5000
Bet now
+5000
David Malukas
Bet now
+5000
Bet now
+11000
Bet now
+4000
Bet now
+5000

Best Indy 500 betting sites

Rank
Sportsbook
Bonus
Features
Play
1
Up to $1,050 FREE
New User Bonus. T&Cs Apply.
DraftKings Promo: Bet $5 Win $150
PLUS $50 Free On Deposit
PLUS Up to $1,000 Deposit Bonus
To Claim: Click Play Now
2
Up to $1,250
On Caesars
Up to $1,250 On Caesars
+ get 1,000 Caesars Reward Credits
+ also get 1,000 Tier Credits
Redeem for free bets, hotel stays, & more! 
Use Promo Code: LEGALFULL
5
$1,000
No Sweat First Bet
Up to $1,000 No Sweat First Bet
Available on Desktop, Android & iOS  
To Claim: Click Play Now
6
$100
Risk Free Bet
Exclusive Offer:
$100 Risk Free Bet
Use Bonus Code: BETBONUS

How to bet on the Indianapolis 500

Betting on race cars bears some similarities to horseracing. So, if you are familiar with handicapping the ponies, there will be some familiar ground here.

Pick the Winner

The first and simplest type of Indianapolis 500 wager is to pick the eventual winner. Almost every site that offers betting on motorsports will have this kind of wager available.

The odds on these types of bets are usually fairly long, even for the favorites. There are simply too many variables in motorsports that can affect the outcome of a race.

As a result, even the favorites don’t get less than 6-1 odds.

Even past winners, such as Helio Castroneves and Tony Kanaan, are available at odds higher than 10:1 right now. So, there is quite a bit of variance in these kinds of situations.

Top 3 Finish

Those accustomed to betting on horse races will recognize this style of betting. For all intents and purposes, betting on a top three finish is the same as a win-place-show bet on a particular horse.

Basically, this type of bet means that the bettor believes the chosen driver will finish somewhere in the top three. Given how long the odds are for any of the drivers in the field, it’s understandable that bettors would want a bit of leeway in the finishing order.

Head to Head Matchups

Head-to-head matchups essentially reduce the entire race down to two drivers. A bettor wagers on which of the two will place higher, even if those places are the last two in the field.

These matchups actually use moneylines in order to identify the favorite and underdog in each pairing. So, hypothetically, Will Power could go off at -125 to Helio Castroneves at +145 and so on.

Futures bets

Functionally, a future bet is the same as a pick the winner bet. The bettor is choosing a member of the field to win the race.

However, the difference is time. These bets often occur weeks or months before the race itself.

As a result, they are subject to far more variation due to the risk of drivers suffering injuries, setbacks, or simply falling off their game in the interim time period. So, the odds for these bets can change quite a bit as race time approaches.

Proposition bets

Finally, a proposition bet on Indianapolis 500 tends to involve some sort of gimmick or angle to the wager. In other words, the conditions of the bet may only partially pertain to the driver’s actual ability.

So, a prop bet could be something like a wager on which former champion will place the highest, or perhaps a bet on the winner’s home country. In other words, a prop bet will have an element ancillary to the actual race itself that plays a part in the wager.

Indy 500 fast facts

For those in a hurry, here is a quick guide to the upcoming race:

  • Date: Sunday, May 29, 2022
  • Time: 11:00 a.m. Eastern
  • TV: NBC
  • Easiest way to watch online: Sign into NBC.com and submit cable subscription information
  • Other online viewing options: Hulu, YouTube, Fubo, DirecTV, Sling, and IMS Stream
  • Track: Indianapolis Motor Speedway in Speedway, Indiana
  • Distance: 500 miles (about 200 laps around the track)
  • Surface: Asphalt and brick
  • Race series: IndyCar
  • Defending champion: Helio Castroneves

A brief history of the Indianapolis 500

The Indianapolis 500 ran for the first time in 1911, with Ray Harroun winning the inaugural race. Since then, both the race and the racetrack have become one of the most famous auto races in the world. The annual event is often dubbed “The Greatest Spectacle in Racing.”

The 500-mile race takes place in an open-wheel, open-cockpit format, meaning that vehicles’ tires and drivers are exposed to the open air. This format has come to be known as “Indy Car Racing,” due to its presence at this event.

The track itself is a rectangular oval nicknamed “The Brickyard” for its partial brick surfacing. Indianapolis Motor Speedway is the highest-capacity sports venue in the world, with permanent seating for over 250,000 patrons. On race day, more than 300,000 will watch the race.

As with many venerated sporting events, there are several traditions associated with the Indianapolis 500. Before each race, race officials and a designated singer lead the crowd in a rendition of “Back Home Again in Indiana.”

The winning driver traditionally drinks from a bottle of milk to celebrate his victory. Below is a list of the most recent competitors to sample dairy products at the end of the race.

Recent Indianapolis 500 winners

YearDriverCountry
1996Buddy LazierUSA
1997Arie LuyendykNetherlands
1998Eddie CheeverUSA
1999Kenny BräckSweden
2000Juan Pablo MontoyaColombia
2001Hélio CastronevesBrazil
2002Hélio CastronevesBrazil
2003Gil de FerranBrazil
2004Buddy RiceUSA
2005Dan WheldonUK
2006Sam Hornish Jr.USA
2007Dario FranchittiUK
2008Scott DixonNew Zealand
2009Hélio CastronevesBrazil
2010Dario FranchittiUK
2011Dan WheldonUK
2012Dario FranchittiUK
2013Tony KanaanBrazil
2014Ryan Hunter-ReayUSA
2015Juan Pablo MontoyaColombia
2016Alexander RossiUSA
2017Takuma SatoJapan
2018Will PowerAustralia
2019Simon PagenaudFrance
2020Takuma SatoJapan