One of the iconic events on the sporting calendar, the Indianapolis 500, takes place this Sunday afternoon. Josef Newgarden is looking to defend his title having won the race in 2023. The Team Penske driver is amongst the favorites to win the race, but he will have his work cut out if he wants to go back-to-back. In our latest Indy Racing betting picks, we tell you if Newgarden can do it.
What a weekend of motorsports we have in store. There is the Indianapolis 500, the Coca-Cola 600 in the NASCAR Cup Series, and the Monaco Grand Prix in F1, all taking place on the same day.
Three of the marquee races of the auto sports calendar. It simply doesn’t get any better than that.
Here we are focussing on the 2024 Indianapolis 500, taking place on early Sunday afternoon. The race will be the 108th edition, and already it looks set to be another spectacular showdown.
This Sunday we see Kyle Larson attempt to win the race as a rookie. Larson is joined on the starting grid by no less than eight former winners, three ex-Formula 1 drivers, and a legend of endurance racing.
The field is simply top-class.
In the 2023 race, Josef Newgarden took the honors. Newgarden is one of the favorites to win again this year. But he will be up against Scott McLaughlin, who has already ensured the pole position, and Kyle Larson, who sits on the second row.
When the Green Flag drops, Newgarden will be trying to become the first driver to win back-to-back Indy 500 races for over 20 years. The last was Helio Castroneves in 2001 and 2002. The last time an American managed it was when Al Unser repeated in 1970 and 1971.
It won’t be easy for Newgarden, but it will sure be fun watching to see if he can manage it.
In the latest betting to win the 2024 Indianapolis 500, there is a two-way split at the top of the betting. We’re using the best betting sites for all sports for our odds, and at the moment they have Scott McLaughlin and Josef Newgarden locked at +500 at the top of the betting.
The third favorite is Kyle Larson at +700, who is closely followed by Will Power at +750. The favorite from 2023, Pato O’Ward, is next at +800.
Below are more options from different sportsbooks on our Indy Car betting table. You can read more about the bookmakers we have used on our Best Betting Sites 2024 page and our Best Betting Apps and Mobile Betting Sites page.
| Driver |  |  |  |
|---|---|---|---|
| Scott McLaughlin | +500 | +500 | +500 |
| Josef Newgarden | +500 | +500 | +500 |
| Kyle Larson | +700 | +700 | +700 |
| Will Power | +750 | +750 | +750 |
| Pato O'Ward | +800 | +800 | +800 |
| Alex Palou | +1200 | +1200 | +1200 |
| Alexander Rossi | +1200 | +1200 | +1200 |
| Colton Herta | +1200 | +1200 | +1200 |
| Scott Dixon | +1400 | +1400 | +1400 |
| Rinus Veekay | +2000 | +2000 | +2000 |
| Santino Ferrucci | +2200 | +2200 | +2200 |
| Kyle Kirkwood | +2500 | +2500 | +2500 |
| Felix Rosenqvist | +2800 | +2800 | +2800 |
| Takuma Sato | +3500 | +3500 | +3500 |
| Ryan Hunter-Reay | +5000 | +5000 | +5000 |
| Helio Castroneves | +5000 | +5000 | +5000 |
| Marco Andretti | +8000 | +8000 | +8000 |
| Marcus Ericsson | +8000 | +8000 | +8000 |
| Callum Ilott | +8000 | +8000 | +8000 |
| Christian Rasmussen | +8000 | +8000 | +8000 |
Kyle Larson is attempting to do the double on Sunday. After the Indy 500, he will be off to Charlotte, North Carolina, to compete in the Coca-Cola 600. It’s an insane effort, and if he even manages to complete both races, it will be some achievement for Larson.
But Larson is a unique talent. And if anybody can pull this off, he can. If he manages to win one, it would be amazing. And with the Indy 500 taking place first, that would have to be where his best chance of winning lies.
Josef Newgarden hasn’t been at his best this season. He did secure the pole position in round one at St. Petersburg, but since then nothing has clicked for the defending champion. Newgarden sits in 17th place in the points table with just 61 points, way behind leader Alex Palou.
Speaking of Alex Palou, he is the in-form driver in 2024. The Spaniard currently sits top of the driver’s standings with 152 points, 12 ahead of second-placed Will Power.
Palau won the IndyCar Grand Prix on May 11th and he also stood on the top of the podium in the $1 Million Challenge at the Thermal Club in March, albeit getting no points as it is an exhibition race.
Nevertheless, there can be no doubt that Alex Palou is in good form, and at +1200, he is a good shout to win this weekend.
Can rookie Kyle Larson win the Indy 500? We believe he has the ability, but we are going to give him a miss this weekend. History also tells us that not many drivers go back-to-back at the Brickyard, so we are also giving Josef Newgarden a wide berth.
We like the look of Scott McLaughlin. The Kiwi was in pole position at the Alabama Indy Grand Prix at the end of April and went on to win the race. Not only that, McLaughlin also led the most laps and recorded the fastest lap.
The circuit at Alabama is a road course, but we feel that the win sees McLaughlin enter this weekend with renewed confidence, and he is our first betting pick to win the Indianapolis 500.
We are also having a wager on Alex Palou. Like McLaughlin, Palau is in good form. We say at +1200, he is worth having a side bet on and make him our second pick.
Check below for our list of the top sportsbooks where you can wager:
About the Author
Dean is primarily a fan of English football who regularly attends games, and combining his hobby with his job, he is now a full-time sports betting writer. Rather than going down the educational route into sports journalism, Dean learned his trade by writing for his English football betting website since 2009, where he now boasts nearly 15 years of experience. After writing about football daily for years, Dean has taken the skills he learned and now uses them to great effect writing for numerous affiliate sites across the internet. A general all-around sports enthusiast with a passion for English football and cricket, Dean is also well able to turn his hand to writing about golf, tennis, F1, boxing, snooker, darts, and North American sports. Combining his extensive knowledge and experience with British humor and wit, Dean has developed into a trusted voice within the sports betting industry.
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