Skip to main content
Alex Palou, driver of the No. 10 The American Legion Chip Ganassi Racing Honda, headlines our look at the top Indy 500 odds.
Alex Palou, driver of the No. 10 The American Legion Chip Ganassi Racing Honda, looks on during qualifying for the NTT IndyCar Series PPG 375. Photo by Sean Gardner/Getty Images via AFP.

Get ready for the heart-pounding excitement of the Indy 500, as the prestigious race draws near. Check out our look at the best Indy 500 odds from our best sports betting apps.

The 2023 Indy 500 is just a day away, and we're providing a closer look at the odds for all of the circuit's top drivers, along with our top Indy 500 picks.

As the drivers prepare to hit the legendary Indianapolis Motor Speedway, the anticipation builds, and so do the Indy 500 odds. We dive into the world of Indy 500 betting, exploring the favorite and uncovering the latest odds that will set the stage for one of the most thrilling motorsport events of the year. Strap in and get ready to bet on the Indy 500 like never before.

Here is our look at the best 2023 Indy 500 odds (odds via our best sports betting apps).  

Indy 500 odds 2023

(Indy 500 odds as of Saturday, May 27 at 5 p.m. ET)

Alex Palou+450 ❄️+500+500+500+600 🔥
Pato O'Ward+550 ❄️+700+700+600 +700
Scott Dixon+800+700+800+700+800
Takuma Sato+1000+1000+1000+1000+1000
Santino Ferruci+1100 ❄️+1600+1600+1200+1400
Alexander Rossi+1200+1200+1200+900 ❄️+1200
Rinus Veekay+1200+1200+1300 🔥+1000 ❄️+1200
Marcus Ericsson+1400 🔥+1200+1200+1100+850 ❄️
Felix Rosenqvist+1400+1200+1400+1400+1000 ❄️
Josef Newgarden+1500+1600 🔥+1100 ❄️+1500+1300

Indy 500 betting analysis

Among our best sports betting apps, DraftKings features some of the shortest odds across the board, with the lowest offering on three of the top five drivers.

Indy 500 odds movement

Intro Saturday afternoon there was a fair amount of movement in the Indy 500 odds as our best sports betting apps began to separate their prices, especially at the top of the board. Five of the top 10 drivers have a standalone best price for those with multiple sports betting accounts who are able to shop around.

2023 Indy 500 favorite

Alex Palou (+600 via PointsBet)

The IndyCar Series leader is the favorite to take home his first Indy 500 victory following a record-setting qualifying run. Palou earned his first "500" pole - becoming the first Spaniard to do so - with a four-lap average speed of 234.217 mph. That's the fastest ever recorded for the race, eclipsing the 234.046-mph mark that Scott Dixon set in 2022.

It's no surprise that Palou enters this race with the shortest odds to indulge in some milk at the conclusion. He's already posted four top-five finishes this season with one win, and five more top-10 results. Palou sits six points clear of second-place Pato O'Ward, who enters the Indy 500 with the second-shortest odds to be victorious.

How to bet on the Indy 500

Once you've chosen your favorite of our best sports betting apps, navigate to the motorsport or auto racing section. Look for the Indy 500 specifically, which is usually prominently featured due to its popularity. You'll find various betting options available, including outright winner, podium finish, head-to-head matchups, and more.

Review the odds for each driver and consider factors such as past performance, track record, and current form. This information can help inform your betting decisions. Once you've selected your bet, enter the stake amount (the amount of money you want to wager) and confirm your bet.

It's essential to remember that betting on the Indy 500 or any other sports event involves risk. Set a budget for yourself and gamble responsibly. Stay updated on the race, as factors like weather conditions and driver changes can impact the outcome. Enjoy the thrill of the race and may your bet be a winning one!

Indy 500 race info

When: Sunday, May 28 at 12:45 p.m. ET
Where: Indianapolis Motor Speedway, Speedway, IN
How to watch the Indy 500: NBC
Defending winner: Marcus Ericsson

Recent Indy 500 winners

DriverYear of victory
Marcus Ericsson2022
Helio Castroneves2021
Takuma Sato2020
Simon Pagenaud2019
Will Power2018
Takuma Sato2017
Alexander Rossi2016
Juan Pablo Montoya2015
Ryan Hunter-Reay2014
Tony Kanaan2013

Indy 500 FAQs

When is the 2023 Indy 500?

The race is set to run on Sunday, May 28, with the green flag scheduled to wave at 12:45 p.m. ET.

Who is the Indy 500 favorite?

Alex Palou is the Indy 500 favorite with odds as low as +450 via DraftKings.

Where is the Indy 500?

The race is held annually at the Indianapolis Motor Speedway in Speedway, IN.

Who is the honorary 2023 Indy 500 starter?

Actor Adam Driver will be the honorary starter for the 2023 Indy 500.

Who won last year's Indy 500?

Marcus Ericsson won the 2022 running of the Indy 500. He enters the 2023 race with the consensus sixth-shortest odds to repeat as champion.

Why does the Indy 500 winner drink milk?

The tradition started when Louis Meyer requested a glass of buttermilk after winning his second Indy 500 race in 1933. He did so again following his third win in 1936, and he was photographed swigging from the bottle of milk while holding up three fingers to signify the third triumph.

A local dairy company - unaware Meyer was drinking buttermilk - offered a bottle of milk to the winners of future races. Milk has been presented each year since then, apart from 1947 to 1955. 

Here are our best sports betting apps:

(21+. Gambling Problem? Call 1-800-GAMBLER)
* Bonuses not applicable in Ontario.

Related pages