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- Alex Palou (+550) is the favorite to win the Indy 500 for the first time in his career
- Last year’s winner Josef Newgarden (+600) claimed victory at the Firestone Grand Prix at St Petersburg
- The Indianapolis 500 will take place at Indianapolis Motor Speedway in Indianapolis, Indiana on May 26, 2024
We’re about six weeks out from the 108th running of the Indianapolis 500. Alex Palou won his second IndyCar championship last year but has never tasted victory at Indianapolis Motor Speedway. Will the Spaniard capture the checkered flag and an ice-cold glass of milk this May?
Before we look at the Indy 500 futures, here’s where you can find all the Sports & Competitions to bet on in 2024 and see the latest Sports Betting Odds & Picks.
Indy 500 Winner
| Driver |  |  |  |
| Alex Palou | +550 | +550 | +550 |
| Josef Newgarden | +600 | +600 | +600 |
| Pato O'Ward | +650 | +650 | +650 |
| Scott Dixon | +800 | +800 | +800 |
| Marcus Ericsson | +1000 | +1000 | +1000 |
| Alexander Rossi | +1100 | +1100 | +1100 |
| Scott McLaughlin | +1200 | +1200 | +1200 |
| Kyle Kirkwood | +1400 | +1400 | +1400 |
| Will Power | +1400 | +1400 | +1400 |
| Colton Herta | +1800 | +1800 | +1800 |
| David Malukas | +1800 | +1800 | +1800 |
| Santino Ferrucci | +1800 | +1800 | +1800 |
| Felix Rosenqvist | +2000 | +2000 | +2000 |
| Rinus Veekay | +2000 | +2000 | +2000 |
| Linus Lundqvist | +2500 | +2500 | +2500 |
| Christian Lundgaard | +3000 | +3000 | +3000 |
| Graham Rahal | +3500 | +3500 | +3500 |
| Helio Castroneves | +4000 | +4000 | +4000 |
| Ed Carpenter | +5000 | +5000 | +5000 |
| Marcus Armstrong | +5000 | +5000 | +5000 |
| Marco Andretti | +6000 | +6000 | +6000 |
| Romain Grosjean | +6000 | +6000 | +6000 |
| Tom Blomqvist | +15000 | +15000 | +15000 |
| Christian Rasmussen | +20000 | +20000 | +20000 |
| Sting Ray Robb | +20000 | +20000 | +20000 |
| Agustin Canapino | +30000 | +30000 | +30000 |
Palou favored over Newgarden
Alex Palou (+550) said winning the Indy 500 is a “big, big goal” for him in 2024. The Chip Ganassi driver finished fourth last year and second back in 2021. The reigning and two-time IndyCar Series champion is coming off a dominating 5.7929-second victory at the $1 Million Challenge at The Thermal Club.
While the Spaniard is a richer man today as result, the race was a non-points exhibition so he still trails Josef Newgarden (+600) and four others in the season standings. Newgarden won the season-opening Firestone Grand Prix in St. Petersburg before finishing eighth in the exhibition challenge.
IndyCar’s Alex Palou: New cars ‘feel amazing’ https://t.co/UeyKFim8OD
— IndyStarSports (@IndyStarSports) April 10, 2024
Open testing results
IndyCar returns to championship competition this Sunday, April 23rd with the Grand Prix of Long Beach. Last week, 34 drivers conducted open testing at the Indianapolis Motor Speedway. Newgarden, last year’s champion, ran the fastest lap at 228.811 mph.
NASCAR driver Kyle Larson got up to 226.384 mph despite it being only his second time on the track in an Indy car. Palou and his teammate Scott Dixon (+800) placed third and fourth, respectively.
Other Indy 500 contenders
Pato O’Ward (+650) narrowly lost the Indy 500 to Marcus Ericsson (+1000) in 2022. Only four drivers in the series have more top-three finishes than O’Ward (20) over the past four seasons. The 24-year-old Mexican finished runner up in St. Petersburg for the second-straight year before a disappointing performance at the $1 Million Challenge.
Meanwhile, Ericsson followed up his 2021 victory with a second-place showing last year. However, given that he is now driving for Wayne Taylor Racing, rather than Chip Ganassi, the Swede is a terrible bet at +1000.
Pato O’Ward gives hilarious response to Kyle Larson’s fast IndyCar testing lap https://t.co/wNg8IoZXnW pic.twitter.com/fLIUigAPi7
— Motorsports Wire (@MotorsportsWire) April 12, 2024
Potential Longshots?
Keep in mind that IndyCar is not anything like Formula 1 where the favorite wins every race. In 2023, the series produced seven different winners so there is room to make a longshot bet.
After finishing third in the point standings in 2023, Scott McLaughlin (+1200) is off to a hot start to the year. The three-time Australian Supercars champion finished third at the Firestone Grand Prix and second at the $1 Million Challenge. His Penske teammate Will Power (+1400) is also a decent value considering the two-time IndyCars series champion won the race in 2018.
See below the top sportsbooks where you can wager online and choose the best one for you:
Sports Betting Sites 