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2023 Indianapolis 500 Betting Preview: Newgarden, Dixon, McLaughlin Lead Odds

Cars competing at the Indianapolis 500

On Sunday, May 28th, the 107th running of the Indianapolis 500 will begin. Coverage starts on NBC at 12:45 PM and can be seen streaming on the Peacock app.

Last year’s Indianapolis 500 winner was Marcus Ericsson of Chip Ganassi Racing. IndyCar betting sites have futures odds posted for all potential winning drivers, and Ericsson is sporting a moneyline of +1200 to win back-to-back 500s.

The below Indianapolis 500 futures are taking action on winners right now at Bovada. The odds are long on all contenders, even for the three racers who are tied for the lead at +600.

2023 Indy 500 Odds To Win

  • Josef Newgarden +600
  • Scott Dixon +600
  • Scott McLaughlin +600
  • Pato O’Ward +700
  • Colton Herta +800
  • Alex Palou +1000
  • Marcus Ericsson +1200
  • Will Power +1200
  • Tony Kanaan +1400
  • Kyle Kirkwood +1600

The IndyCar futures at BetUS feature some similar names, but they outright favor Pato O’Ward with a +600 moneyline. Scott Dixon is paying out 25 points better than at Bovada, and Newgarden is listed 200 points higher.

Odds To Win The Indianapolis 500

  • Pato O’Ward +600
  • Scott Dixon +625
  • Josef Newgarden +800
  • Colton Herta +900
  • Alex Palou +900
  • Scott McLaughlin +900
  • Will Power +1200
  • Marcus Ericsson +1400
  • Alexander Rossi +1400
  • Tony Kanaan +2000

That’s why it pays to belong to more than one IndyCar betting site included in our online sportsbook reviews. It allows motorsports gamblers to shop around for the most profitable IndyCar odds and make the most money.

Odds to Win IndyCar Indianapolis 500

  • Pato O’Ward +600
  • Scott Dixon +625
  • Josef Newgarden +800
  • Colton Herta +900
  • Alex Palou +900
  • Scott McLaughlin +1000
  • Will Power +1200
  • Marcus Ericsson +1400
  • Alexander Rossi +1600
  • Takuma Sato +2000

The above odds at BetOnline don’t offer much differential from the line at BetUS, but Scott McLaughlin is getting a dollar better payouts. This will be McLaughlin’s third attempt at winning the Indy 500, and between 6 to 10-to-1 payouts can be earned by shopping the odds for the best sportsbook payouts.

Scott finished 20th and 29th in the 2021 and 2022 Indianapolis 500.

Helio Castroneves has won the Indianapolis 500 a record four times, a mark he shares with A.J. Foyt, Al Unser, and Rick Mears. Castroneves last won the 500 in 2021, which was 20 years separated from his previous win, also an Indy 500 record for the longest span between victories.

Helio’s odds to win are +3000 at Bovada, and +2500 at BetUS and BetOnline. Those odds represent potential payouts of $25 or $30 on a $1 wager, but only if you call your shot now and have patience.

For motorsports bettors that don’t have the fortitude to place an Indianapolis 500 bet weeks from the opening gun, there is live IndyCar betting where wagers can be placed while the race is ongoing.

These in-race odds don’t last until the final lap, but they usually stick around at least through the midway point with moneylines that shift as developments occur.

As race day approaches, Indianapolis 500 prop bets will begin to populate the boards with head-to-head odds for individual racers, winning car manufacturers, and even goofy wagers on whether the number of the winning car will be odd or even.

NBC Sports, Bovada (Bovada.LV Review), BetUS (BetUS Review), BetOnline (BetOnline Review), Indianapolis Motor Speedway Official Website

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