Indy 500: Kyle Larson moves ahead of all but one driver

Entering Indy 500 practice week, Kyle Larson was listed by DraftKings Sportsbook at +650 to win the 108th running of the "Greatest Spectacle in Racing", tied with Arrow McLaren Pato O'Ward, the 2022 race runner-up and the leader of the most laps last year.

Now, despite the fact that he has never competed in an IndyCar race, Larson is listed ahead of O'Ward, who fell to +700. The only driver listed ahead of the 2021 NASCAR Cup Series champion is now Chip Ganassi Racing's Alex Palou, the 2021 runner-up and last year's polesitter.

Palou, who was listed with O'Ward as a co-favorite last week at +600, saw his odds shorten all the way to +400 after he won the race at the Indianapolis Motor Speedway road course for the second year in a row.

Last year, the Spaniard's dominant road course win kicked off a month of May in which he secured the Indy 500 pole position with an all-time record pole speed. He had the car to beat in the race itself before a pit road incident (not of his own doing) mired him back in 30th place. He was still able to rally to finish in fourth.

Kyle Larson Indy 500 odds shorten

When the Indy 500 odds were first released, Larson was listed 13th at +2500. But after turning the second fastest lap in the open test at the four-turn, 2.5-mile (4.023-kilometer) Speedway, Indiana oval last month, he skyrocketed up the charts, even moving ahead of the driver who turned a faster lap than he did: Team Penske's Josef Newgarden, the reigning Indy 500 champion.

Larson's Indy 500 effort this year comes as he attempts to become the fifth driver to ever run the Memorial Day Double, first competing in the Indy 500 and then flying to Charlotte Motor Speedway to compete in NASCAR's Coca-Cola 600. Only one driver (Tony Stewart, 2001), has ever run all 1,100 miles in a single day. Kurt Busch made the most recent attempt in 2014.

Larson's effort is officially dubbed the "Hendrick 1,100", as he competes full-time for Hendrick Motorsports in the Cup Series and Rick Hendrick's team have partnered with Arrow McLaren to make his No. 17 McLaren-Hendrick Chevrolet a reality on the IndyCar side.

Practice for the 108th running of the Indy 500 is scheduled to begin on Tuesday, May 14 at 9:00 a.m. ET. Peacock is set to carry live coverage of every practice session. Qualifying is scheduled to take place on Saturday, May 18 (11:00 a.m. ET on Peacock) and Sunday, May 19 (3:00 p.m. ET on Peacock and NBC).

The race itself is scheduled to take place on Sunday, May 26, with live coverage set to begin at 11:00 a.m. ET on NBC. Start a free trial of FuboTV and don't miss it!