Josef Newgarden Favored To Defend Crown At 2024 Indy 500

The elite IndyCar drivers from around the globe will gather at the iconic Indianapolis Motor Speedway on May 26th. The Indy 500 odds indicate a tightly contested race ahead. Leading sports betting sites have unveiled their odds, allowing us to delve into the contenders and analyze their prospects.

What? 2024 Indy 500 Race
Where? Indianapolis Motor Speedway
When? May 26, 2024

2024 Indy 500
Alex Palou	+600	+600	+610
Kyle Larson	+650	+800	+1025
Josef Newgarden	+700	+800	+730
Pato O'Ward	+700	+600	+600
Scott Dixon	+900	+800	+940
Marcus Ericsson	+1100	+1000	+1225
Alexander Rossi	+1400	+1400	+1375
Santino Ferucci	+1400	+2800	+2500
Scott McLaughlin	+1400	+1200	+1250
Will Power	+1400	+1600	+1375

Alex Palou (+610)

The current favorite to win the Indy 500 is Alex Palou from Chip Ganassi Racing. He holds odds of +610 to claim victory at Indy in 2024.

Despite finishing fourth in last year's Indy 500, Palou's performance was considered a disappointment given his earlier strong showings in races and qualifiers. He secured top-five finishes in four of the first five races of the 2023 season, including a win at the GMR Grand Prix.

Palou's qualifying performance last year further heightened expectations. He set a new pole record speed of 234.217 MPH during Indy 500 qualifying in 2023.

While Palou has shown impressive speed, his relative inexperience at this level became apparent during last year's race. Although a stronger showing is anticipated from him in 2024, the odds for other drivers may be more enticing given Palou's learning curve at this elite level.

Alex Palou To win 2024 Indy 500

+610

Xbet

Josef Newgarden (+800)

Josef Newgarden is listed at +800 to win this year's Indy 500 with BetUS. As a seasoned veteran with nearly two decades of racing experience, Newgarden brings a wealth of expertise to the track. He entered the IndyCar Series in 2012 and has been a key member of Team Penske since 2017.

In addition to his IndyCar pursuits, Newgarden began competing in the IMSA SportsCar Championship Series last year. Remarkably, he currently leads both the IMSA SportsCar Championship and IndyCar Series standings.

Newgarden's extensive tenure and close collaboration with Team Penske make him a formidable contender. He clinched victory in last year's Indy 500 and aims to achieve a rare back-to-back win, a feat last accomplished by Hélio Castroneves in 2001 and 2002. A win this year would also elevate Newgarden into the elite ranks of drivers with multiple Indy 500 victories.

With such significant milestones within reach, Newgarden is poised to deliver another stellar performance at the Indianapolis 500.

Josef Newgarden To win 2024 Indy 500

+800

BetUS

Pato O’Ward (+700)

Pato O'Ward is one of the youngest competitors in this year's Indy 500 at 25 and his odds are +700. This Mexican racing prodigy entered the IndyCar Series in 2018 and has consistently finished in the top 10 over the last four seasons.

In 2020, O'Ward joined the Arrow McLaren team and took the wheel of the number 5 car. Since joining this organization, he has experienced the most successful phase of his young career to date.

Last year, O'Ward secured fourth place in the overall standings, matching his second-best career finish in the IndyCar Series. His highest finish came in 2021, when he claimed third place overall with 487 points.

While O'Ward narrowly missed becoming the youngest driver ever to win the Indy 500, this setback could fuel his determination. A victory this year would still position him among the top 10 youngest drivers to achieve this milestone. Winning at Indy would undoubtedly mark the pinnacle of O'Ward's burgeoning career thus far.

Pato O'Ward To win 2024 Indy 500

+700

Bovada

Scott Dixon (+940)

Xbet offers Scott Dixon at +940 odds to secure a second Indy 500 victory of his career.

Dixon clinched the Indy 500 title in 2008 but has encountered challenges in reclaiming the top spot since then, often finishing as a runner-up. Despite his Indy struggles, Dixon remains a prominent figure in the IndyCar Series. The New Zealand native boasts six series championships, with his most recent title achieved in 2020. With over two decades of series experience, Dixon is a formidable force on the track.

At 43 years old, Dixon faces the hurdle of age, as only 19 drivers have won this race after turning 40. However, recent victors Takuma Sato and Hélio Castroneves demonstrate that veteran drivers can still achieve success.

Scott Dixon To win 2024 Indy 500

+940

Xbet

2024 Indy 500 Prediction

This is a tough race to call and the odds offer good value for whoever a bettor chooses. I will back defending champion Josef Newgarden to clinch victory again.

Top Online Sportsbooks for Betting on Indy 500

See below the best online sportsbooks and make sure to read our comprehensive sportsbook reviews to help you determine the best betting site for your Indy 500 bets.