Indy 500 odds: Two drivers emerge as co-favorites

Josef Newgarden, Team Penske, IndyCar, Indy 500
Josef Newgarden, Team Penske, IndyCar, Indy 500 /

Practice for the 106th running of the Indy 500 is scheduled to get underway on Tuesday. Before practice and qualifying, two drivers have emerged as co-favorites.

Following Saturday afternoon’s GMR Grand Prix at the Indianapolis Motor Speedway road course, the eyes of all IndyCar fans can officially turn to the 106th running of the Indy 500, which is now under two weeks away.

Practice for this year’s running of the 200-lap “Greatest Spectacle in Racing” around the four-turn, 2.5-mile (4.023-kilometer) Indianapolis Motor Speedway oval in Speedway, Indiana is scheduled to begin tomorrow afternoon.

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There are additional practice sessions scheduled to take place on Wednesday, Thursday, and Friday, leading up to qualifying on Saturday.

In a revised qualifying format, the top 12 drivers from Saturday’s qualifying session then move on to Sunday’s first qualifying session. The top six drivers from that session then battle for the pole position in a separate session.

Once the starting lineup is set on Sunday, there are two more practice sessions scheduled to take place, one next Monday, May 23 and another one next Friday, May 27 on Carb Day. The race itself is scheduled to be run next Sunday, May 29.

Before practice begins, WynnBET released their odds for the race, and two drivers have emerged as co-favorites.

NOTE: +700 odds mean that a successful $100 bet wins an additional $700. All odds provided by WynnBET.

  • Josef Newgarden: +700
  • Alex Palou: +700
  • Scott Dixon: +750
  • Colton Herta: +750
  • Pato O’Ward: +800
  • Scott McLaughlin: +900
  • Will Power: +1100
  • Helio Castroneves: +1300
  • Alexander Rossi: +1400
  • Marcus Ericsson: +1750
  • Tony Kanaan: +1750
  • Graham Rahal: +1750
  • Takuma Sato: +1750
  • Romain Grosjean: +2250
  • Jimmie Johnson: +2250
  • Juan Pablo Montoya: +2250
  • Simon Pagenaud: +2250
  • Felix Rosenqvist: +2250
  • Rinus VeeKay: +2250
  • Marco Andretti: +4000
  • Ed Carpenter: +4000
  • Conor Daly: +4000
  • Devlin DeFrancesco: +4000
  • Santion Ferrucci: +4000
  • Kyle Kirkwood: +4000
  • Jack Harvey: +5000
  • Christian Lundgaard: +5000
  • Sage Karam: +7500
  • David Malukas: +7500
  • JR Hildebrand: +10000
  • Callum Ilott: +10000
  • Dalton Kellett: +15000
  • Stefan Wilson: Unlisted (would assume +15000 to +20000).

Josef Newgarden and Alex Palou were the top two drivers in last year’s championship battle, with the latter securing his maiden title ahead of the two-time series champion.

In 10 Indy 500 starts, Newgarden has never won the race, but he is widely considered the best non-Indy 500 winner in the field. He is also the only driver with multiple wins through the first five races of the 2022 season.

As for Palou, he finished runner-up behind four-time winner Helio Castroneves in the race last year following a late shootout.

Considering the fact that this race was Palou’s first Indy 500 with Chip Ganassi Racing, plus the fact that he had never previously secured a top three finish in an oval race, that performance is one which made many believe that there are many great performances at the Racing Capital of the World still to come from the driver the #10 Honda.

Chip Ganassi Racing have also inexplicably not won the race since 2012. The reigning series champion is the perfect candidate to end that drought.

Meanwhile, the highest listed former Indy 500 winner is Scott Dixon, who sits tied with Colton Herta at +750. Castroneves has odds of +1300, the eighth shortest in the field. He won the race last year with odds of +2800, which were 16th shortest at the time.

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Keep an eye on these odds throughout the week by visiting WynnBET’s website or downloading the WynnBET app. They are sure to change as more information comes to light throughout practice and drivers and teams make adjustments ahead of qualifying.