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

After Saturday's full field qualifying session for the 108th running of the Indy 500 at Indianapolis Motor Speedway, four drivers were listed by DraftKings Sportsbook as +700 co-favorites to win this coming Sunday afternoon's race, and none of the four had been the betting favorite at any point leading up to the event.

Those four drivers included McLaren-Hendrick's Kyle Larson and the Team Penske trio of Josef Newgarden, Will Power, and Scott McLaughlin. Roger Penske's three drivers locked out the top three on the four-lap average speed charts in both the Fast Friday practice session and Saturday's qualifying session (full results here).

Prior favorite Alex Palou of Chip Ganassi Racing tumbled from +400 to +1000 after only managing to qualify in 14th place on Saturday. Palou took the pole position for the race last year.

Prior to Sunday's qualifying session, Larson managed to separate himself from the Team Penske trio and became the single favorite to win the 200-lap race around the four-turn, 2.5-mile (4.023-kilometer) Speedway, Indiana oval at +650. Newgarden, Power, and McLaughlin held station at +700.

In the Top 12 qualifying session on Sunday, Team Penske again locked out the top three, and in the Firestone Fast Six, they did what many expected they would and locked out the front row, something the team had not done since 1988. McLaughlin took the pole position with a four-lap pole record average speed of 234.220 miles per hour.

2018 Indy 500 winner Power qualified on the middle of the front row and reigning Indy 500 winner Newgarden qualified on the outside. Larson qualified fifth, with only Arrow McLaren teammate Alexander Rossi separating him from Team Penske.

A full starting lineup for the 108th running of the Indy 500 can be found here.

With the full 33-car grid set, McLaughlin is now listed as the favorite at +450, followed by Newgarden at +550. Power and Larson are listed at +650, followed by Palou at Rossi at +1000.

Full odds can be found here. Odds refresh periodically and are subject to change.

NBC is set to provide live coverage of the 108th running of the Indy 500 from Indianapolis Motor Speedway beginning at 11:00 a.m. ET this Sunday, May 26. Start a free trial of FuboTV now and don't miss any of the action!