Indianapolis 500 Betting Guide: Picks and Predictions

Indianapolis 500 Betting Guide: Picks and Predictions
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The Indianapolis 500 considers itself one of the most prestigious motorsport events in the United States. It has been marketed as “the greatest spectacle in racing,” and with the 2022 edition pulling in 325,000 fans — the second-most in the last 20 years — it continues to be one of the biggest sporting draws in May. 

We take the odds from the best sports betting sites for this year’s race and break down how we see it.

Indianapolis 500

  • Date: Sunday, May 28
  • Time: 11 a.m. ET
  • TV: NBC
  • 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: Marcus Ericsson

What Drivers Are Performing Well Coming into Indy?

Alex Palou +600 DraftKings Sportsbook


Alex Palou is the betting favorite after a record-setting pole run of 234.217 at Indianapolis Motor Speedway and has shown good form here in each of the last three races. 

As a rookie in 2020, he qualified seventh, and in 2021, he finished second after starting sixth on the grid. Palau continued his steady improvement at the Indy 500 by tallying the second-fastest time in qualifying and led 47 laps before finishing ninth. 

Palou’s success this year is even more reason to back him. He’s the series championship leader through five races after winning the IndyCar Series title in 2021.

Scott Dixon +850 BetMGM Sportsbook


Recently, Dixon has entered with one of the fastest cars. Before this year, he won the last two Indy 500 poles and has five poles at this race in his career. 

He has been close to cashing those in for victories, too. In 2020, he led 111 of 200 laps and finished second. The following race was marred by an early pit-road issue when Dixon ran out of fuel during his first pit stop.

But the 2022 edition may have been the biggest Indy 500 disappointment for Dixon. He started on the pole, led 95 laps and came onto pit lane as the leader on his final stop. However, Dixon entered pit road too fast and was issued a pit lane speeding violation that resulted in a 21st-place finish. 

The speed has been here for Dixon, but avoiding costly errors will be the biggest key for him going forward. 

Marcus Ericsson +1300 BetMGM Sportsbook


The Indy 500 hasn’t seen a back-to-back winner since 2001-02, but Marcus Ericsson will look to change that. 

Last year’s winner has consistently shown speed at this track, finishing second, fourth, fifth and seventh in last year’s practices and has displayed similar results this year, recording the fastest time in two practice sessions and fourth in another. 

In addition to his Indy win, Ericsson also had success at another oval, taking third last year in Texas. 

Who Are the Longshots to Consider for the Indianapolis 500?

Helio Castroneves +4000 BetMGM Sportsbook


It’s not too often you’ll want to bet on a 48-year-old, but Helio Castroneves is the exception. 

Castroneves is a four-time winner of this event who was just seventh a year ago. When looking at long shots, Castroneves could be worth a shot given his experience. 

Conor Daly +4000 DraftKings Sportsbook


Conor Daly was in contention during the 2021 Indy 500, leading the most laps of the race. 

All seemed well until a loose tire from a crash ended up hitting his car, resulting in a 13th-place finish. Next year was better, results-wise, with a sixth-place finish after leading seven more laps. 

Daly’s two showings make him worthy of consideration as a longshot bet. 

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Who Will Win the Indianapolis 500?

Scott Dixon +850 BetMGM Sportsbook


When it comes to picking a winner, I'm going with Dixon. 

He has consistently run at the top of the field and has looked straight dominant throughout stretches of the last two races. 

If he can avoid self-inflicting mistakes or any of the wacky stuff that happens in motorsports, he could secure his second win at the Indy 500.

Best Indianapolis 500 Prop Bets to Make

Connor Daly Top Five Finish +700 BetMGM Sportsbook

Scott Dixon Top Five Finish +100 BetMGM Sportsbook

Marcus Ericsson Top Five Finish +150 BetMGM Sportsbook