Who will win the Indy 500? Here are the betting favorites

Scott Horner
Indianapolis Star

Alex Palou wasn't a long shot before 2023 Indianapolis 500 qualifying, but he vaulted to favorite after earning the pole position in record fashion.

Indy 500 betting odds

Draft Kings sets Palou's odds at +500 for Sunday's race, with Pato O'Ward, who starts 5th, as second favorite (+650). Scott Dixon, who starts 6th, is third favorite (+800).

On Action Network, Palou is +500, O'Ward +600 and Dixon at +700.

Bet Rivers puts Palou at +550, O'Ward at +600 and Dixon at +850.

Meet the field:A complete guide to the 33-car starting lineup

More:Get to know the IndyCar drivers and teams

These odds are subject to change as the race approaches.

Before qualifying, O'Ward and Dixon were essentially co-favorites (both +700 on FanDuel and Bet MGM), with Dixon getting a small edge on Draft Kings (+600 to O'Ward at +700).

Indy 500 betting odds from Draft Kings

(A $100 bet on Alex Palou would yield $500 if he wins, etc.)

Alex Palou, +500

Pato O'Ward, +650

Scott Dixon, +800

Santino Ferrucci +1000

Alexander Rossi, +1100

Rinus VeeKay +1200

Marcus Ericsson +1200

Takuma Sato +1200

Felix Rosenqvist +1400

Josef Newgarden +1500

Scott McLaughlin +1600

Will Power +1600

Tony Kanaan +1800

Colton Herta +2200

Kyle Kirkwood +2500

Romain Grosjean +3000

Graham Rahal +4000

Simon Pagenaud +4000

Helio Castroneves +4000

Ed Carpenter +4000

Conor Daly +4000

Ryan Hunter-Reay +5000

David Malukas +6000

Marco Andretti +6000

Benjamin Pedersen +6000

Christian Lundgaard +10000

Jack Harvey +15000

Devlin DeFrancesco +15000

Callum Ilott +15000

Sting Ray Robb +15000

Agustin Canapino +20000

Katherine Legge +30000

R.C. Enerson +30000

Indy 500 prop bets

∎ Want to get as little crazy with your wagering? BetUS offers odds on top-three finishes for Palou, O'Ward, Dixon, Colton Herta and Josef Newgarden, and whether Will Power or defending race champ Marcus Ericsson will finish in top five.

∎ There are posted odds on whether multiple-race winners Helio Castroneves and Takuma Sato will lead a lap.

∎ There are nine former winners in the race, and you can wager whether any will win: (+275 for yes, -450 for no).

∎ Which car number will win? You can pick odd (-110) or even (-130), or over 11 1/2 (-105) or under 11 1/2 (-135).

∎ Want else do you want to bet on? There are odds for the number of lead changes (over/under 32 1/2), caution periods (over/under 6 1/2), winning margin (less than 1 second, 1-5 seconds, 5+ seconds), whether a rookie will win (+600) or finish in the top five (+300), fastest race lap (over/under 226.550 mph) and winner's nationality (U.S. is +170 and other is -260). And there's more.