IndyCar: 5 longshot picks to win the 2024 Indy 500

5. Helio Castroneves: +4000

How a four-time Indy 500 winner is listed at +4000 is insane.

Sure, Meyer Shank Racing's pace in 2023 was a far cry from what they brought when Helio Castroneves won the race in his first start for the team in 2021, and it was even a far cry from what they brought in 2022, when a relatively quiet day still produced a seventh place finish for the Brazilian after he started all the way back in 27th.

But this team has experienced a resurgence to start the 2024 season, with newcomer Felix Rosenqvist reeling off five straight top 10 finishes to position himself in fifth place in the championship standings. Bear in mind, the entire team had just one top 10 finish all of last year, and it was only a 10th place effort.

While we don't yet know how the team's newfound pace will translate at a superspeedway, as Texas Motor Speedway did not host a race earlier this season like it did last year, we do know that Castroneves is one of the best drivers ever at Indianapolis Motor Speedway. He knows what it takes to win at Indy, and he is now a partial owner of the organization.

He was also listed at +2800 in 2021, and we saw how that turned out. Also worth bringing up again: the betting favorite has not won the Indy 500 since 2009. Castroneves won it for the third time that year.

Odds refresh periodically and are subject to change.

Indy 500 practice sessions are set to be shown live on Peacock throughout the rest of the week, and qualifying is scheduled to take place on Saturday, May 18 (11:00 a.m. ET, Peacock) and Sunday, May 19 (3:00 p.m. ET, NBC). The race itself is set to be shown live on NBC from Indianapolis Motor Speedway beginning at 11:00 a.m. ET on Sunday, May 26. Start a free trial of FuboTV if you have not already done so!