Indy 500 Betting Odds & Picks

The 2022 NTT IndyCar Series Indianapolis 500 will be held on Saturday, May 29 at Indianapolis Motor Speedway (Asphalt) in Speedway, Indiana (TV—NBC, Peacock; RADIO—SiriusXM; 11 am ET/ 8 am PT) in the sixth race of the IndyCar series schedule.

This will be the 106th running of the event at The Brickyard and the Indy 500 is the premier event on the open-wheel, open-cockpit American Championship Car Racing calendar and dates all the way back to 1911 when the Surface was once made from brick.

The Greatest Spectacle in Racing Will Rev up on May 29

The enclave Indianapolis suburb of Speedway is the site of this prestigious Auto Racing which has seen an increase in legal betting popularity with 30 US states now providing legalized sports gambling with the Hoosier State being one of the first states to legalize.

Always held on the Memorial Day weekend, the Indy 500 has been won by legends like Mario Andretti, AJ Foyt Al Unser, Bobby Unser, Rick Mears, Hélio Castroneves, Dario Franchitti, Meyer, Mauri Rose, Johnny Rutherford, and Indianapolis 500 icon Wilbur Shaw.

The prestigious Indianapolis 500 is a bestowed member of the Triple Crown of Motorsport along with the Monaco Grand Prix and the 24 Hours of Le Mans and Indianapolis is appropriately the Mecca for NTT IndyCar Series racing worldwide.

In honor of being 5️⃣0️⃣ days out from the 106th #Indy500 pres. by @Gainbridgelife, we have shared a bottle of milk with an iconic location in all 50 states!

It’s only fitting to start things off in Indiana at the Yard of Bricks!#IsItMayYet | #WinnersDrinkMilk

— Indianapolis Motor Speedway (@IMS) April 9, 2022

Last year, Castroneves (15/1 to win 2022 Indianapolis 500, BetUS) won his fourth Indy 500 (2001, 2002, 2009, 2021) in his Dallara DW12-Honda for Meyer Shank Racing at the Brickyard and the 46-year-old Brazilian will be back to seek a record fifth Win this year.

Spider Man Castroneves also won the fifth season of ABC’s hit Dancing With The Stars as he and his partner professional dancer Juianne Hough both ran and danced over the competition to win a Mirrorball Trophy. He was also in the 15th season of DWTS.

The Indianapolis 500 is a 209-lap, 500-mile race run on the 4-turn Indianapolis Motor Speedway’s 9-degrees (12 minutes) banked 2½-mile Oval track which are the same exact dimensions as when the track first opened back in 1909 when Gas was just 8¢ a gallon.

Before the Indy 500, the next stop on the 2022 IndyCar Series schedule is the Honda Indy Grand Prix of Alabama at the Barber Motorsports Park, In Birmingham, Alabama on Sunday, May 1 (TV—NBC, Peacock; Radio—IndyCar Live!, SiriusXM; 1 pm ET/10 am PT).

So far Scott McLaughlin (Firestone Grand Prix of St Petersburg) and Josef Newgarden (XPEL 375 and Acura Grand Prix of Long Beach) have won races with American Newgarden getting his second straight win on the streets of Long Beach, California.

This is the 11th season of Penske-managed NTT IndyCar Series racing and the champions last year were Spaniard Álex Palou (547 points) for Chip Ganassi Racing with Newgarden (511 points) finishing in 2nd place and Pato O’Ward (487 points) ending up in 3rd place.

The top NASCAR sportsbooks on the internet serve up legal betting odds on the Indianapolis 500 and all IndyCar Series races and Futures markets, as well as the NASCAR Cup Series, the NASCAR Xfinity Series, and the NASCAR Camping World Truck Series.

Here are the odds for the 2022 Indianapolis 500 coming on Memorial Day weekend in Naptown next month and four Drivers are all currently listed at 8/1 odds to be drinking that milk in Victory Lane at the Indianapolis Motor Speedway on May 29.

Scott Dixon, Colton Herta, Josef Newgarden, and Alex Palou are the four Drivers oddsmakers have as 8/1 (9.00 Decimal odds) co-favorites to win with Scott McLaughlin and Pato O’Ward oddsmakers second favorites at BetUS at 9/1 (+900 American) odds).

2022 Indianapolis 500 Winner Odds

Scott Dixon +800
Colton Herta +800
Josef Newgarden +800
Álex Palou +800
Scott McLaughlin +900
Pato O’Ward +900
Will Power +1200
Hélio Castroneves +1600
Alexander Rossi +1800
Tony Kanaan +2000
Graham Rahal +2000
Takuma Sato +2000
Marcus Ericsson +2500
Simon Pagenaud +2500
Felix Rosenqvist +2500
Romain Grosjean +2800
Juan Pablo Montoya +2800
Rinus Veekay +2800
Jimmie Johnson +3300
Marco Andretti +5000
Ed Carpenter +5000
Conor Daly +5000
Kyle Kirkwood +5000
Santino Ferrucci +6000
Devlin DeFrancesco +6000
Jack Harvey +6000
Chris Lundgaard +8000
David Malukas +10000
Sage Karam +12500
Callum Illot+15000
JR Hildebrand +20000
Dalton Kellett +30000

2022 IndyCar Series Standings

Josef Newgarden 118
Scott McLaughlin 113
Álex Palou 103
Will Power 102
Scott Dixon 83
Romain Grojean 79
Rinus VeeKay 67
Marcus Ericsson 66
Pato O’Ward 63
Graham Rahal 60
Colton Herta 59
Simon Pagenaud 50
Hélio Castroneves 46
Jimmie Johnson 45
Takuma Sato 44
Christian Lundgaard 42
Felix Rosenqvist 42
Alexander Rossi 40
Conor Day 39
Kyle Kirkwood 38

Indianapolis 500 Winners 2000-2021

2021—Hélio Castroneves (Meyer Shank Racing) Dallara DW12-Honda
2020—Takuma Sato (Rahal Letterman Lanigan Racing) Dallara DW12-Honda
2019—Simon Pagenaud (Team Penske) Dallara DW12-Chevrolet
2018—Will Power (Team Penske) Dallara DW12-Chevrolet
2017—Takuma Sato (Rahal Letterman Lanigan Racing) Dallara DW12-Honda
2016—Alexander Rossi [R] (Andretti Herta Autosport) Dallara DW12-Honda
2015—Juan Pablo Montoya (Team Penske) Dallara DW12-Chevrolet
2014—Ryan Hunter-Reay (Andretti Autosport) Dallara DW12-Honda
2013—Tony Kanaan (KV Racing Technology) Dallara DW12-Cherolet
2012—Dario Franchitti (Chip Ganassi Racing) Dallara DW12-Honda
2011—Dan Wheldon (Bryan Herta Motorsport) Dallara DW12-Honda
2010—Dario Franchitti (Chip Ganassi Racing) Dallara DW12-Honda
2009—Hélio Castroneves (Team Penske) Dallara DW12-Honda
2008—Scott Dixon (Chip Ganassi Racing) Dallara DW12-Honda
2007—Dario Franchitti (Andretti Green Racing) Dallara DW12-Honda
2006—Sam Hornish Jr. (Team Penske) Dallara DW12-Honda
2005—Dan Wheldon (Andretti Green Racing) Dallara DW12-Honda
2004—Buddy Rice (Rahal Letterman Racing) Dallara Panoz G-Force GF09-Honda
2003—Gil de Ferran (Team Penske) Panoz G-Force G-Force 09-Toyota
2002—Hélio Castroneves (Team Penske) Dallara DW12-Chevrolet
2001—Hélio Castroneves (Team Penske) Dallara DW12-Oldsmobile-Aurora

Penske Team Has Had Most Success in Brickyard With 18

The Penske team has had 18 wins at The Brickyard and two in the last four runnings here but this will be a wide-open race with obviously several lead changes and cautions and picking a Futures winner out of this Field this far out is tantamount to throwing darts.

With McLaughlin (9/1 to win 2022 Indianapolis 500) and 2002 NTT IndyCar Points leader Newgarden (8/1) already winning this year and Castroneves (18/1) and Takuma Sato (20/1) the last two to drink milk in Victory Lane at Naptown, let’s take a look elsewhere.

New Zealander Scott Dixon (8/1) is a big name and races for the Chip Ganassi Racing Team and Dixon won the 92nd Indy 500 starting from the Pole Position In Indianapolis, and Dixon has won the IndyCar championship six times (2003, 2008, 2013, 2015, 2018 2020).

Two other race co-favorites are Colton Herta (8/1) and Álex Palou (8/1), and the 25-year-old Palou sits third in the Points standings (103) and is the first racing car driver from Spain to win a national championship in the history of American open-wheel racing.

Palau, who won the GP3 Series, is also the defending 2021 IndyCar Series champion and definitely worth a look at these 8/1 odds. Pato O’Ward (9/1) and 2018 Indy 500 winner Will Power (12/1) will also be in the mix at the Brickyard on Memorial Day weekend.

We are 4️⃣3️⃣ days from the 106th #Indy500 pres. by @Gainbridgelife!

4️⃣3️⃣: @ArieLuyendyk’s age when he earned his second, and final, #Indy500 victory in 1997.

🎟 >>> | #IsItMayYet

— Indianapolis Motor Speedway (@IMS) April 16, 2022

Alexander Rossi (18/1) won this race as a Rookie but backing him in this spot seems much more like a stretch than backing one of the drivers with shorter odds like Palou, Dixon, Power or maybe even Newgarden looking for his first Indianapolis 500 victory here.

There are three drivers at 20/1 odds currently (Tony Kanaan, Graham Rahal, Takuma Sato), three others at 25/1 (Marcus Ericsson, Simon Pagenaud, Felix Rosenqvist), and three more at 28/1 odds (Romain Grosjean, Juan Pablo Montoya, Rinus Veekay).

Sato and his Honda would be my longshot choice to win his second Indianapolis 500 in three years for Rahal Letterman Lanigan Racing. Former NASCAR champion Jimmie Johnson (33/1) seems like dead money with this Field and will need a good starting spot.

The Car Make which has won here the most (21) and 16 consecutive times (2005-2021) is Dallara with Penske a distant second with seven Indianapolis 500 wins but the last coming in 1974, showing how we may keep seeing a Dallara winning for quite some time.

Chip Ganassi Racing has four wins at Indianapolis (2000, 2008, 2010, 2012) and the team wins at the Brickyard in even-numbered years so maybe Palou brings the Borg-Warner Trophy back to New Zealand for a second time (NZ’s Scott Dixon won in 2008) this year?

2022 IndyCar Series Indianapolis 500 Futures Pick:

IndyCar Series Indianapolis 500 Longshot Winner Pick:

Kevin Stott

Kevin Stott is a sports writer who has covered the Sports Gambling industry for over 20 years, handicapping sporting events for SportsbookReview, Gaming Today and Bleacher/Report and was an award-winning writer for the Las Vegas Review-Journal’s View Newspapers. Stott is an avid sports bettor and a graduate of Southern Illinois University at Carbondale. …

View all posts by Kevin Stott

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