David Caraviello for Bookies.com

By David Caraviello | | 7 mins

Indy 500 Odds, Betting Tips & 7 Wagers To Back

Indy 500 Odds, Betting Tips & 7 Wagers To Back

Sunday’s Indianapolis 500 arrives three months later than originally scheduled due to the coronavirus pandemic, but will still carry all the prestige and trappings of the world’s most famous automobile race.

For bettors, though, the Indy 500 remains a giant unknown. Let’s face it, few if any people pay close attention to American open-wheel racing, and most of these drivers are figures we see only once a year. Marco Andretti, grandson of Mario, was fastest in qualifying, but No. 2 starter Scott Dixon is the odds favorite at +400.

Cars owned by Roger Penske, Michael Andretti and Chip Ganassi have won the 500 a combined 26 times (18 by Penske alone), and their drivers will once again be the ones to beat. Underdogs don’t typically fare well in a top-heavy event on a track where it’s tough to pass. So, grab a bag of White Castles and a bottle of milk, and peruse these best bets for the Greatest Spectacle in Racing.

7 Bets to Make on the Indianapolis 500

Bet Odds
Ryan Hunter-Reay to Win +800
Bet it at PointsBet
Scott Dixon Top 3 +125
Bet it at Unibet
Rinus VeeKay Top 5 +250
Bet it at DraftKings
Alexander Rossi Top 5 +130
Bet it at BetAmerica
Will Power Top 10 -167
Bet it at DraftKings
Conor Daly Top 10 +115
Bet it at Unibet
Winning Grid Position Under 8.5 -115
Bet it at BetAmerica

Odds listed are current as of publication and subject to change.


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Ryan Hunter-Reay to Win (+800)

Hunter-Reay is a former Indy 500 champion and a savvy Brickyard veteran with a good starting spot in the middle of the second row. As important to bettors, he brings value that’s very good for a driver with his track record. Hunter-Reay has finished fifth and eighth in each of the last two years, overcoming fairly cruddy starting positions in the process. Starting up front and in Andretti equipment, he’s very capable of getting to Victory Lane. Bet it at PointsBet.

Scott Dixon Top 3 (+125)

Dixon is among the best at the Brickyard, reaching the podium in nearly a quarter of his career starts. The Ganassi driver has finished eighth or better in three of the last five years, and trails only Helio Castroneves and Dario Franchitti in average finish with over 10 career starts. But the former 500 champ often struggles to capitalize on great grid positions, opening the door for bettors to take a pick with better value to win. Bet it at Unibet.

Rinus VeeKay Top 5 (+250)

If there’s a real sleeper in the Indy 500 field it might be VeeKay, who doesn’t necessarily fit the model of a contender as a rookie with the Ed Carpenter team. But the 19-year-old Dutchman is fast and fearless and showed incredible speed in qualifying despite using a Chevrolet engine believed to be down on power when compared to the dominant Hondas. Three rookies have won the 500 before, most recently Alexander Rossi in 2016. Bet it at DraftKings.

Alexander Rossi Top 5 (+130)

Rossi’s victory as a rookie in 2016 proved only the beginning of what’s been a sterling track record at Indianapolis thus far. The Andretti driver has finished seventh, fourth and second in his three appearances since, and he’s led a substantial number of laps in all but one of those starts. Good qualifying results usually translate into good finishes for Rossi, who’s in position again this year with a starting spot on Row 3. Bet it at BetAmerica.

Will Power Top 10 (-167)

The Penske driver is an annual contender at Indianapolis, with five top-10s in his last seven starts, among them a victory in 2018. The catch is that Power has almost always qualified well — he hasn’t started worse than ninth since his rookie campaign of 2008 — while Sunday he’ll me mired in Row 8 at the green flag. Still, the cheeky Australian has the talent and track record to claw through traffic and into contention. Bet it at DraftKings.

Conor Daly Top 10 (+115)

Another sleeper, Daly finished a career-best 10th last season in the most-reliable equipment he’s ever had at Indianapolis. He’s back for another go with Carpenter’s team, typically the most competitive outfit beyond Indy’s big three. Daly has an innovative lead engineer in Cole Pearn, who won a NASCAR championship as crew chief to Martin Truex Jr., but he’ll need more consistent speed than he showed in qualifying, where he placed 18th. Bet it at Unibet.

Winning Grid Position Under 8.5 (-112)

Track position is everything at Indianapolis, where passing under green is always difficult. It will almost certainly be more so this year, given that cars have added an “aerosceeen” protective shield in front of the driver that adds more weight to the front end of the car. The averaging starting position among Indy winners since 1996 is 7.5, with the last three champions starting fourth or better, and it will be a surprise if that trend doesn’t continue. Bet it at BetAmerica

Complete 2020 Indy 500 Odds

DriverWinTop 3
Scott Dixon+400+125
Alexander Rossi+750+215
Ryan Hunter-Reay+800+235
Marco Andretti+850+250
Josef Newgarden+1100+300
Will Power+1200+350
Simon Pagenaud+1400+400
Rinus VeeKay+1400+400
Takuma Sato+1600+450
James Hinchcliffe+1800+500
Colton Herta+2000+550
Graham Rahal+2500+600
Felix Rosenqvist+2500+600
Conor Daly+2800+650
Fernando Alonso+3300+800
Helio Castroneves+3300+800
Patricio O’Ward+3500+850
Marcus Ericsson+4000+1000
Alex Palou+4000+1000
Oliver Askew+5000+1200
Ed Carpenter+5000+1200
Santino Ferrucci+5000+1200
Tony Kanaan+5000+1200
Spencer Pigot+5000+1200
Zach Veach+6600+1600
Jack Harvey+8000+2000
Charlie Kimball+12500+3000
James Davison+20000+5000
Sage Karam+25000+6000
J.R. Hildebrand+25000+6000
Max Chilton+40000+1000
Dalton Kellett+40000+1000
Ben Hanley+50000+12500

You can bet all these odds with BetAmerica.

Indy 500 Race Time, Date & TV

What: Indianapolis 500

Where: Indianapolis Motor Speedway, Speedway, Indiana

When: Sunday, Aug. 23, at 1 p.m.

TV coverage: NBC

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