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.
He will do this from the third position, forming an all-Penske front row. Will Power, like Newgarden, is aiming to become a two-time champion, while their teammate Scott McLaughlin is focused on being the first Indianapolis 500 pole-sitter to win the race since Simon Pagenaud in 2019.
One of the primary narratives of this year’s race is the possible dominance of Penske. Another intriguing storyline is Kyle Larson’s potential double win at the Indianapolis 500 and Coca-Cola 600. Larson, currently leading the NASCAR Cup Series standings, secured fifth place in his Indy debut and is scheduled to begin tenth in tonight’s race at Charlotte Motor Speedway.
Larson, although an Indy 500 newcomer, is considered a strong contender to win. But what are his chances of doing so? Since 1926 and 1927, when rookies Frank Lockhart and George Souders won consecutively, only three first-timers have managed to win the race: Graham Hill in 1966, Montoya in 2000, and Alexander Rossi in 2016.
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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
Betting on most races in either Formula 1 or one of the three national NASCAR series (Cup Series, Xfinity Series, and Craftsman Truck Series) has a straightforward element, unlike the Indianapolis 500.
Certainly, it’s merely one of the 17 races of the IndyCar Series season. However, it’s also the marquee event of the season and is approached with a unique strategy. Winning the Indianapolis 500 means joining the ranks of legendary names, and the risks some racers take to win this specific race may not be attempted in the other 16 races throughout the season.
Additionally, the uncertainty involved makes investing in finishing position picks much more risky compared to most Formula 1 and NASCAR races.
In other words, Penske’s recent achievements make it difficult to ignore their potential, and Bovada even predicts they have equal chances of being the victorious team.
Where else can you find the best value? Consider Takuma Sato’s record in his last seven starts at the Indianapolis 500 – he has two victories and four finishes in the top ten. In today’s race, Sato will be starting from the tenth position. According to Bovada, his odds are +115 to repeat last year’s seventh-place finish with another top ten finish.
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