Memorial Day Weekend means something to everyone. For car racing enthusiasts it means the Indianapolis 500. Annually run at the end of May, the premiere event of the IndyCar series is a test of endurance for drivers and a thrill ride for spectators. Scott McLaughlin, who set a qualifying speed record to earn the pole position opened as the co-betting favorite along with defending champion Josef Newgarden. However, plenty of attention will be directed at Kyle Larson, who’s making his IndyCar debut and attempting the rare double feat of driving in two races on the same day. The NASCAR Cup Series driver is also scheduled to race in the Coca-Cola 600 later on Sunday. He qualified for the fifth starting spot in both races and is the third favorite on the Indy 500 odds board.
The 108th running of the Indy 500 gets underway from Indianapolis Motor Speedway at 12:45 p.m. ET on Sunday, May 26, 2024. The race will be televised live on NBC with betting options available at BookMaker.eu.
2024 Indianapolis 500 Betting Odds
Josef Newgarden +525
Scott McLaughlin +525
Kyle Larson +675
Patricio O'Ward +700
Will Power +750
Alex Palou +1200
Scott Dixon +1250
Alexander Rossi +1300
Colton Herta +1300
Kyle Kirkwood +1800
Santino Ferrucci +2000
Rinus Veekay +2050
Felix Rosenqvist +2200
David Malukas +2400
Takuma Sato +2500
Ryan Hunter Reay +3000
Marcus Ericsson +4000
Helio Castroneves +4000
Marco Andretti +4500
Christian Rasmussen +4500
Graham Rahal +6000
Marcus Armstrong +6200
Linus Lundqvist +6600
Christian Lundgaard +6600
Callum Ilott +6600
If you think starting from the pole gives a driver an advantage you might want to think again. Since 2010, only one pole sitter claimed victory that being Simon Pagenaud in 2019 when he led for 116 laps. McLaughlin gets the prime spot on Sunday after claiming the fastest pole speed in Indy history during qualifying. McLaughlin is sixth in the IndyCar standings but he has had the lead more than any other driver through the early part of the season. This year could be different for McLaughlin, who hasn’t seriously contended in three previous Indy 500 races despite being one of the top drivers in the IndyCar Series. He was fourth in the standings in 2022 and third last year but hasn’t finished better than 14th in three starts.
Newgarden is a popular pick for his history on ovals and having won at the Brickyard for the first time last year. He also swept the ovals in 2023 and over his career has 14 IndyCar Series wins on an oval track. Newgarden passed Marcus Ericsson on the final lap in last year’s race marking just the third last lap pass for a win in race history.
The race has been historically wide open with a different winner in each of the last six editions. Five of those drivers are back to give it another go with two – Newgarden and Will Power – among the five favorites listed with +750 odds or shorter. Takuma Sato (2017, 2020) is the only driver in the field with multiple wins since Dario Franchitti won his third Indy 500 in 2012.
A sentimental pick would be veteran Helio Castroneves, who looks to become the all-time leader with five Indy 500 victories. Three years ago the Brazilian stunned everyone by edging Alex Palou for his record-tying triumph joining Hall of Famers A.J. Foyt, Al Unser Sr. and Rick Mears as four-time winners. Once again Castroneves is well down the odds board at +4000
Among the top favorites the last few years, Scott Dixon has slid down the odds board and I believe he has value at his price of +1250. Dixon has been one of the best drivers on the IndyCar Series for some time. He’s won at least one race in 20 straight seasons and has 56 career series wins. However, he hasn’t had much luck at the Brickyard with his lone triumph coming in 2008. Still, he has four other podium finishes and just missed savoring the milk in 2020 when he came in second after leading for 111 of the 200 laps. He finished sixth at last year’s race.
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