Indy 500 odds see early but significant change

Even before the start of practice for the 106th running of the Indy 500, the betting odds have already seen a significant change at the top.

The 106th running of the Indianapolis 500 begins today.

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 this afternoon.

Today is the first of four scheduled IndyCar practice days prior to Indy 500 qualifying on Saturday and Sunday to set the 33-car starting lineup for the Memorial Day Sunday event.

WynnBET recently revealed their betting odds for the race, featuring two co-favorites atop the list.

But even before the start of practice, there has already been one significant change at the top. instead of Team Penske’s Josef Newgarden and Chip Ganassi Racing’s Alex Palou being listed as co-favorites, there is now just one favorite to win the race as the “Month of May” truly gets underway this afternoon.

Those two drivers both had +700 odds (bet $100 to win $700) entering the week. Now Palou’s odds are listed at +650, while Newgarden’s are still listed at +700.

The third place tie between Chip Ganassi Racing’s Scott Dixon, the highest listed former winner, and Andretti Autosport’s Colton Herta has also been broken, with Dixon staying at +750 but Herta dropping to +800, which does keep him ahead of Team Penske’s Scott McLaughlin and Arrow McLaren SP’s Pato O’Ward at +900.

Last year’s winner, Meyer Shank Racing’s Helio Castroneves, won with odds of +2800, which were good for 16th shortest in the field of 33. He is listed as the eighth favorite to open up practice this year at +1300, with only former teammate Will Power separating him from McLaughlin and O’Ward at +1100.

Andretti Autosport’s Alexander Rossi is ninth at +1400, and Rahal Letterman Lanigan Racing’s Graham Rahal and Chip Ganassi Racing’s Tony Kanaan are tied for 10th at +1750 ahead of a cluster of eight drivers tied at +2250.

Full odds can be found at the WynnBET website or by downloading the WynnBET app.