Indy 500 Betting Guide | Odds, Predictions, And How To Bet

The 106th edition of the Indianapolis 500 is scheduled for May 26, 2024 in Speedway, Indiana. The 500-mile race is among the most prestigious in all motor sports. It forms the Triple Crown of Motorsport with the Monaco Grand Prix and the 24 Hours of Le Mans.

Josef Newgarden is looking to defend the title in 2024 after winning his first Indy 500 last year. Newgarden's Indy 500 odds to win opened at +750 and are now between +500 and +550 at most sportsbooks. He is considered the current favorite along with Scott McLaughlin, who is priced in the +400 to +575 range.

Indy 500 betting odds 2024

Here are the updated betting odds for the 2024 Indianapolis 500 currently posted at select US sportsbooks. Click on the price(s) you like below to bet now.

[cot id='1716268']

Best Indy 500 betting sites

#

Sportsbook

Bonus

Features

Bet

1

Up To $1500 in Bonus Bets Paid Back if your First Bet Does Not Win

• Wide coverage of US and international sports
• Linked to MGM Rewards loyalty program
• Regular odds boosts and promos

Bet Now BetMGM Review

Gambling problem? Call 1-800-GAMBLER or 1-800-MY-RESET (Available in the US) 877-8-HOPENY or text HOPENY (467369) (NY) 1-800-327-5050 (MA), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR). 21+ only. Please Gamble Responsibly. See BetMGM.com for Terms. First Bet Offer for new customers only (if applicable). Subject to eligibility requirements. Bonus bets are non-withdrawable. In partnership with Kansas Crossing Casino and Hotel. Promotional offers not available in Mississippi, New York, Ontario, or Puerto Rico.

2

New DraftKings Customers: Bet $5+ Get $100 in Bonus Bets Instantly!

• Wide coverage of US and international sports
• High-quality iOS and Android apps
• Very fast withdrawal times

Bet Now DraftKings Review

GAMBLING PROBLEM? CALL 1-800-GAMBLER or 1-800-MY-RESET, (800) 327-5050 or visit gamblinghelplinema.org (MA). Call 877-8-HOPENY/text HOPENY (467369) (NY). Please Gamble Responsibly. 888-789-7777/visit ccpg.org (CT), or visit www.mdgamblinghelp.org (MD), 1-800-981-0023 (PR). 21+ and present in most states. (18+ DC/KY/NH/PR/WY). Void in NH/OR/ONT/PR. Eligibility restrictions apply. On behalf of Boot Hill Casino (KS). Pass-thru of per wager tax may apply in IL. 1 per new DraftKings customer. $5+ first-time bet req. Max. $100 issued as non-withdrawable Bonus Bets that expire in 7 days (168 hours). Stake removed from payout. Terms: Promos | DraftKings Sportsbook . Ends 5/31/26 at 11:59 PM ET.

3

Deposit first $5+ cash bet, get $150 in Bonus Bets

• Only sportsbook legal in Florida
• Hot Bets feature
• Live NFL streaming

Bet Now Hard Rock Bet Review

To be eligible, the Player must be at least 21 years old, physically located in a Eligible Jurisdiction: AZ, CO, IL, IN, MI, NJ, OH, TN, or VA, and not on any exclusionary lists in any Eligible Jurisdiction. Excluded patrons are prohibited from participating in Promotions. To be eligible all personal and contact data associated to your account must be verifiable. Arizona Customers: Call 1-800-NEXT-STEP or Text NEXTSTEP to 53342. Colorado, Michigan, Illinois, New Jersey, and Virginia Customers: Call 1-800-GAMBLER  Indiana Customers: Call 1-800-9-WITH-IT  Ohio Customers: Gambling Problem? Call 1-800-MY-RESET.  Tennessee Customers: Call or text the Tennessee REDLINE: 1-800-889-9789

4

New Users – Bet $5 Get $150 If Your Bet Wins!

• Offers one of the best same-game parlays
• Highly rated mobile app
• Impressive sports coverage

Bet Now FanDuel Review

Gambling Problem? Call 1-800-GAMBLER or 1-800-MY-RESET. Call 1-888-789-7777 or visit ccpg.org/chat (CT). Hope is here. GamblingHelplineMA.org or call (800) 327-5050 for 24/7 support (MA). Visit mdgamblinghelp.org (MD). Call 1-877-8HOPE-NY or text HOPENY (467369) (NY). 21+ (18+ DC, KY, WV). Void where prohibited. Gambling problem? Call 1-800-GAMBLER or visit www.gamblersanonymous.org . Must be 21+ in NJ, PA, MI, or WV. $10 first deposit req. Bonus issued as non-withdrawable bonus spins which expire 7 days after receipt. Restrictions apply. Contact 1-877-770-7867 (LA).

5

10 x $100 bet match

• Unique FanCash loyalty program
• Variety of bonuses and ongoing promos
• Fast, reliable app with live betting and streaming

Bet Now Fanatics Review

Must be 21+. GAMBLING PROBLEM? CALL 1-800-GAMBLER OR CALL 1-800-MY-RESET, www.mdgamblinghelp.org (MD), (800)-327-5050 or gamblinghelplinema.org (MA), Call (877)8-HOPENY or text HOPENY (467369) (NY), (888) 789-7777 or ccpg.org (CT), morethanagame.nc.gov (NC), 1800gambler.net (WV)

How to bet on the Indianapolis 500

Betting on race cars bears some similarities to horse racing. 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 Marcus Ericsson and Helio Castroneves, are available at odds higher than 11:1 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 26, 2024
• 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: Josef Newgarden

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