Last year, Team Penske won the Indianapolis 500 for a record 19th time as Josef Newgarden denied Marcus Ericsson’s bid to become the first driver in over two decades to win the race in consecutive years.
In the process, Newgarden, who started 17th, became the first driver to win from outside the top 15 in the starting lineup since Ryan Hunter-Reay in 2014.
Today, Newgarden will attempt to become the 21st driver to win the Indianapolis 500 multiple times and join Helio Castroneves, Dario Franchitti, Juan Pablo Montoya, Takuma Sato, and the late Dan Wheldon as the drivers to join the club in the 21st century.
As part of an all-Penske front row, he will secure the third position and compete. Will Power, like Newgarden, aims to secure a second victory at the event. Meanwhile, Scott McLaughlin, his teammate, sets his sights on being the first Indy 500 polesitter since Simon Pagenaud in 2019 to claim the checkered flag.
One of the key narratives of this year’s race revolves around Penske’s potential for dominance. Another captivating storyline involves Kyle Larson’s chance at achieving a double dip by participating in both the Indianapolis 500 and Coca-Cola 600. Currently leading the NASCAR Cup Series standings, Larson secured a fifth-place qualification for his inaugural Indy start. Additionally, he is slated to commence the race tonight at Charlotte Motor Speedway from the tenth position.
Despite being a newcomer to the Indy 500, Larson is considered one of the top contenders for victory. What are the odds of him achieving this feat? Historically, only three rookies have emerged victorious in the race: Graham Hill in 1966, Montoya in 2000, and Alexander Rossi in 2016. However, it is worth noting that rookies did secure back-to-back wins in 1926 (Frank Lockhart) and 1927 (George Souders).
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Odds to Win the 2024 Indianapolis 500
- Josef Newgarden +550
- Scott McLaughlin +575
- Will Power +700
- Pato O’Ward +750
- Kyle Larson +750
- Alexander Rossi +900
- Colton Herta +950
- Alex Palou +1100
- Scott Dixon +1400
- Santino Ferrucci +1600
- Rinus VeeKay +2000
- Kyle Kirkwood +2800
- Takuma Sato +2800
- Felix Rosenqvist +3300
- Helio Castroneves +3300
- Ryan Hunter-Reay +4000
- Christian Rasmussen +5000
- Callum Ilott +5000
- Ed Carpenter +6000
- Marco Andretti +6000
See the rest of the race winner odds at BetOnline. Check out our BetOnline sportsbook review, then bag a big bonus (100% if your first deposit is with Bitcoin, Ethereum, or another cryptocurrency) to bet on the Indianapolis 500.
2024 Indianapolis 500 Predictions & Picks
Unlike betting on most races in Formula 1 or the three national NASCAR series (Cup Series, Xfinity Series, and Craftsman Truck Series), the Indianapolis 500 is not as straightforward.
Indeed, the Indianapolis 500 is not just another race in the IndyCar Series season; it holds the status of being the most prestigious event. Winning this race means joining the ranks of legendary names in motorsport. The strategies and risks taken by drivers to secure victory at the Indianapolis 500 may differ greatly from those employed in the remaining 16 events of the season.
Furthermore, the inherent unpredictability amplifies the level of risk associated with investing in finishing position picks, surpassing that of the majority of Formula 1 and NASCAR races.
However, Penske’s current impressive performance makes it difficult to consider any other team. Bovada has placed them at even odds to emerge as the victorious team.
Where can one find the best value elsewhere? Takuma Sato has achieved two victories and four top-ten finishes in his last seven Indianapolis 500 starts. Today, he will begin the race in the tenth position. According to Bovada, Sato is listed at +115 odds to replicate last year’s seventh-place finish and secure another top-ten spot.
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