IndyCar has a new clear favorite to win the Indy 500, and it's not Kyle Larson

Alex Palou now stands alone as the favorite to win the 108th running of the Indy 500 after his dominant Indianapolis road course victory.
Alex Palou, Chip Ganassi Racing, Indy 500, IndyCar
Alex Palou, Chip Ganassi Racing, Indy 500, IndyCar / James Gilbert/GettyImages

As IndyCar made its way to Indianapolis Motor Speedway last week for the annual road course race that precedes Indy 500 practice and qualifying week, two drivers (not named Kyle Larson) were listed as co-favorites to win the 108th running of the "Greatest Spectacle in Racing".

Chip Ganassi Racing's Alex Palou, last year's polesitter and 2021 runner-up, and Arrow McLaren's Pato O'Ward, last year's laps led leader and 2022 runner-up, were both listed by DraftKings Sportsbook at +600 to win this year's edition of the 200-lap race around the four-turn, 2.5-mile (4.023-kilometer) Speedway, Indiana oval.

But after Palou did what he did last year and dominated the race at the track's interior road course, the two-time series champion is now the clear favorite to win on Memorial Day Sunday.

Alex Palou the new Indy 500 favorite

Palou is now listed at +400, with O'Ward and teammate Larson behind him at +650. Reigning race winner Josef Newgarden of Team Penske is listed fourth at +900. Full odds can be found here.

Odds refresh periodically and are subject to change.

We hear every year about the "momentum" that teams and drivers can take from the road course race onto the oval.

The reality of it is that there is zero momentum that can actually be taken from a win on a twisting 2.439-mile road course circuit with 13 turns and applied to a 2.5-mile superspeedway where "flat out" driving results in speeds of upwards of 240 miles per hour.

But the confidence that comes with getting the month of May off to a proper start is indeed a major intangible that we have seen play out in drivers' favors in the past, most notably with Will Power sweeping the month in 2018 and Simon Pagenaud doing the same in 2019.

Last year, Palou took the pole position for the Indy 500 with a record pole speed after his road course win, and he had the car to beat before a pit lane incident mired him back in 30th place. He was still able to rally to fourth and ended up winning the next three races on the schedule after that.

IndyCar: Everyone has the same concern as Indy 500 prep begins. IndyCar: Everyone has the same concern as Indy 500 prep begins. dark. Next

Practice for the 108th running of the Indy 500 is scheduled to begin on Tuesday, May 14, and qualifying is scheduled to take place on Saturday, May 18 and Sunday, May 19. The race itself is set to be shown live on NBC beginning at 11:00 a.m. ET on Sunday, May 26.