2023 Indy 500 Odds: Gentlemen and Ladies, Start Your Betting Engines Because Here’s Your Winner

2023 Indy 500 Odds: Gentlemen and Ladies, Start Your Betting Engines Because Here’s Your Winner
Image © Marc Lebryk-USA TODAY Sports
✍️ Written by
Ty Bronicel
🗓 Updated
Aug 23rd 2023

The 107th Indianapolis 500 is this Sunday (May 28) and it’s the motorsports world’s equivalent of the Kentucky Derby – billed as “The Greatest Spectacle in Racing.”

Picking an Indy 500 winner is always difficult but this year feels different.

That’s because 26-year-old Spaniard Alex Palou is emerging as IndyCar racing’s biggest new star.

Palau, who drives for formidable Chip Ganassi Racing, won the 2021 series championship, and this season he has top-five finishes in four of the year’s first five races and won the GMR Grand Prix.

Then on Sunday, during Indy 500 qualifying, he captured the coveted pole position with a new record speed of 234.217 mph, topping Scott Dixon's record set last year.

Palau is the betting favorite to continue his impressive run.

Here are the latest Indy 500 odds courtesy of FanDuel Sportsbook, one of our favorite gambling sites out there, along with BetMGM, DraftKings, and many more.

2023 Indianapolis 500 Winner

Alex Palou +600

Pato O`Ward +800

Scott Dixon +800

Takuma Sato +1100

Felix Rosenqvist +1100

Rinus Veekay +1300

Scott McLaughlin +1300

Marcus Ericsson +1300

Alexander Rossi +1300

Josef Newgarden +1600

Will Power +1800

Santino Ferrucci +1800

Colton Herta +2100

Tony Kanaan +2200

Graham Rahal +2800

Kyle Kirkwood +3000

Romain Grosjean +4000

Helio Castroneves +4500

Conor Daly +4500

Ed Carpenter +4500

Simon Pagenaud +5000

Marco Andretti +5000

Benjamin Pedersen +6500

David Malukas +6500

Ryan Hunter-Reay +6500

Jack Harvey +11000

Stefan Wilson +11000

Christian Lundgaard +11000

Callum Ilott +12000

Agustin Canapino +14000

Devlin Defrancesco +14000

Sting Ray Robb +19000

Katherine Legge +20000

Last year’s winner, Marcus Ericsson, is decent value at +1300, but there hasn’t been a back-to-back Indy 500 champ since Helio Castroneves (2001-2002).

And if you think the 48-year-old Castroneves, who won his record-tying fourth Indy 500 in 2021, can add to his legendary status, his odds are an incredible 45-1.

Even though the pole position racer has won the Indy 500 only 20 percent of the time, I’m sticking with the rising stud Paul who looks primed to win this year’s race after a fast start to 2023.

New Sweepstakes Casino!
High 5 Casino
New Player Offer
Free Signup Promo
Get 5 Free Sweeps Coins + 600 Free Diamonds

Get Free Bonuses Straight to Your Inbox

  Arrow Bold