It’s finally time! Race week of the 108th running of the Indianapolis 500. Scott McLaughlin will start on the pole after setting a four-lap average of 234.220 MPH in Indy 500 qualifying on Sunday. Penske Racing Chevrolets swept the front row, with Will Power and Josef Newgarden rounding out the row. It will also be NASCAR star Kyle Larson’s Indianapolis 500 debut. Let’s take a look at the 108th Indianapolis 500 odds and best bets.
“The Greatest Spectacle in Racing” will take place on Sunday, May 26th at 12:30 p.m. ET on NBC. 2021 NASCAR Cup Series Champion Kyle Larson will be doing “the double” by running the Indianapolis 500 in the morning, then getting on a helicopter to fly to Charlotte, North Carolina, to race in NASCAR’s Coca-Cola 600 that evening. He’ll be the sixth different driver to attempt the double in history. Larson starts fifth in the Indy 500.
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IndyCar: The 108th Indianapolis 500 Odds and Best Bets
Scott McLaughlin +460
Josef Newgarden +500
Kyle Larson +650
Will Power +650
Pato O’Ward +900
Alexander Rossi +1000
Alex Palou +1100
Rinus Veekay +1600
Scott Dixon +1800
Colton Herta +1800
Santino Ferrucci +2500
Felix Rosenqvist +2500
Kyle Kirkwood +2500
Takuma Sato +3500
Helio Castroneves +3500
Ryan Hunter-Reay +4000
Christian Rasmussen +5000
Marco Andretti +5000
Callum Ilott +6000
Linus Lundqvist +6000
Marcus Armstrong +6500
Christian Lundgaard +7500
Ed Carpenter +7500
Kyffin Simpson +7500
Marcus Ericsson +8000
Graham Rahal +10000
Romain Grosjean +10000
Conor Daly +10000
Agustin Canapino +20000
Sting Ray Robb +20000
Pietro Fittipaldi +30000
Tom Blomqvist +35000
Katherine Legge +50000
Scott Dixon Top 3 Finish (+400)
The 2008 Indy 500 Champion was oh so close to getting that second Borg-Warner trophy in 2022 after leading 95 laps until a late mistake speeding while entering pit road cost him a shot at the victory. Dixon had finished in the top three here five times in his career. He has led laps in the Indy 500 in 10 of his last 13 starts in the race.
Dixon is one of the most reliable drivers on the IndyCar grid, and you can count on him to be in the action each week. Last season, Dixon only finished outside of the top seven one time. The six-time IndyCar champion has already won a race this season, showing he’s still got what it takes.
He’s also the most recent oval track winner in IndyCar, winning at World Wide Technology Raceway near the end of the 2023 season. Give me some Dixon to win as well (+1800). Dixon will start 21st on the grid Sunday.
Winning Car Number 0-9 (-125)
This group here is the favorite when it comes to number bets, but at -125 is still very betable. In this group, you get the defending Indy 500 winner and king of IndyCar ovals in Josef Newgardens #2. You get the pole sitter Scott McLaughlin, who’s had a rough go in his first three attempts, but we know there is a very talented and capable driver in the #3 car. Kyffin Simpson drives the #4 car in case he pulls off some magic.
Pato O’Ward in the #5 car finished second place in 2022 and has finished top six in three of his four starts. Helio Castroneves drovers the #06, he’s won the race only four times before, it’s never bad to have a bet that covers you with him. #6 Callum Ilott has his best chance yet of driving a McLaren in 2024.
Alexander Rossi in the #7 is the 2016 champion where he won in his first career start, he’s finished fifth in consecutive years. Linus Lundqvist is in a fast #8 Chip Ganassi Honda, and Scott Dixon, for all the reasons stated above, could get it done for you in the #9 car. This is a solid group to have a bet on.
Top Chevy Kyle Larson (+550)
If you want to find a way to bet on Kyle Larson, like I do. This is better than taking his outright, which is only (+650). This gives you coverage of a Honda winning and Larson having a strong race and finishing as the best Chevrolet in the field. Is it a tall task for a driver who’s never raced an IndyCar event before to come in and perform at this high of a level? Absolutely.
However, if there’s one driver in the world who can do it, it’s Kyle Larson. Larson is the most talented race car driver alive right now. He gets into anything anywhere and is competitive right away. He’s in a great car, and this is probably the best way to get a value bet on Kyle Larson’s Indianapolis 500 debut.
Alex Palou to Win (+1100)
The list of favorites here are all very compelling. You can make a solid case for any of them ahead of Palou. Palou is at a great number at 11/1 that offers a lot of value. His first start in the Indy 500 didn’t go so well, where he finished 28th. Palou has led at least 35 laps in his three starts since then. In 2021, he finished second, ninth in 2022, and fourth last season. The young defending series champion has been tearing IndyCar up the last few seasons, an Indy 500 win would just solidify his career that much more.
Marcus Ericsson to Win (+8000)
Ericsson struggled even to make this race, jumping out of the cut position in last chance qualifying with only about three minutes to spare. There are a lot of questions about where his headspace was in that session and may be going into this race. However, we have seen some longshot winners in recent history, like Rossi 66/1, Castroneves 33/1, or Sato 50/1. So we know longshot winners are very capable of winning this race.
Oh yeah, Ericsson has been really good here. He’s a last-lap red flag decision away from having won the last two Indy 500s in a row. Yes, that was in A Chip Ganassi Honda. Is Ericsson going to be the fastest car on Sunday, no. At this number, though, the driver you are getting who has done it before is in an Andretti car and gives you a legit shot if the cards fall right. Sign me up.
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