2024 Indianapolis 500 Betting Predictions, Odds & Analysis (05/26/2024)

2024 Indianapolis 500 Betting Predictions, Odds & Analysis (05-26-2024)

Three decades ago, Indy Car open-wheel racing got greedy and split into two rival series. Although the entities eventually merged back into one, things have never been the same. Indy Car racing remains a small niche that is dwarfed in the United States by NASCAR. And as far as open-wheel racing goes, Formula One is where it is at. However, Indy Car racing still has the most prestigious race in the world. The Indianapolis 500 is touted as the “greatest spectacle in racing.” Defending champion Josef Newgarden is an Indianapolis 500 odds favorite to win again.

2024 Indianapolis 500

Date and Time:Sunday, May 26, 2024, 11 a.m. ET
Location:Indianapolis Motor Speedway, Indianapolis, IN
Last Year’s Winner:Josef Newgarden
TV Coverage:NBC, Peacock

Indy 500 Betting Odds at SBG

Josef Newgarden+500
Scott McLaughlin+500
Will Power+650
Alexander Rossi+1000
Pato O’Ward+1000
Alex Palou+1100
Rinus VeeKay+1800
Scott Dixon+1800
Colton Herta+2000
Santino Ferruci+2000
All Other Drivers+2500 or higher

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2024 Indy 500 Top Contenders

#2 Josef Newgarden – Chevrolet – Team Penske

So far, it has been a disappointing start to the season for Josef Newgarden. Newgarden is 17th in the 2024 Indy Car standings and has yet to win a race. In his sports betting career, Newgarden has 29 wins, 52 podiums, and 17 poles. He won the Indy Car Series championship twice. Certainly, Newgarden is better than he has shown. Most important of all, Team Penske will provide top equipment to a proven driver.

#3 Scott McLaughlin – Chevrolet – Team Pense

Yet another top driver from Team Penske is a co-favorite to win the Indy 500. Scott McLaughlin is 6th in the 2024 Indy Car standings but does have a win at Alabama and finished at the Million Dollar Challenge. Of great concern is that Mclaughlin has not had good luck at the Indy 500. His best finish was 14th last year.

#12 Will Power – Chevrolet – Team Penske

Thus far in 2024, Will Power is 2nd in the Indy Car standings. Although Power is winless this season, he has three 2nd place finishes. Power was the winner of the 2018 Indy 500 and is a two-time Indy Car series champion. Also, Power ranks 5th all-time with 41 Indy Car wins.

#10 Alex Palou – Honda – Chip Ganassi Racing

First in the 2024 Indy Car standings is Alex Palou. Palou is a two-time Indy Car Series champion. Including the 2023 season when he was crowned. Although Palou has three consecutive Top 9 finishes at the Indy 500, he is yet to take the Checkers. His best finish was 2nd in 2021.

#21 Rinus VeeKay – Chevrolet – Ed Carpenter Racing

So far this year, Rinus VeeKay is 19th in the Indy Car standings. His best finish was 8th in the opener race at St. Pete. VeeKay finished 10th at the 2023 Indy 500 and was 8th in 2021. VeeKay, age 23, is considered a driver with plenty of upside.

2024 Indy 500 SBG Free Picks

Overall, there have been six different drivers who beat the Indy 500 odds for the checkered flag in the last six years. The best drivers usually win the Indy 500, but not always. And among the top tier of drivers, many are good enough to take the checkers. Luck often plays a big part in who wins the Indy 500. Thus, experienced and proven drivers are the smart way to play. Thus, Will Power offers everything needed for a win.

2024 Indy 500 SBG Best Bet: Will Power.

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