Indy 500 Odds 2024: Scott McLaughlin Takes Pole; Kyle Larson Among Post-Qualifying Favorites
Scott McLaughlin is the favorite by the latest Indy 500 odds via our best sports betting sites after taking the pole ahead of Sunday's race at Indianapolis Motor Speedway.
We've seen a major shift in the odds leading up to Sunday's Indy 500, which is set to begin at 12:45 p.m. ET at Indianapolis Motor Speedway.
Scott McLaughlin, who set a track record Sunday with his four-lap qualifying time, is the pole-sitter and betting favorite across our best sportsbooks to win. He's one of three Team Penske drivers in the front row alongside Will Power and 2023 winner Josef Newgarden.
All eyes will also be on Kyle Larson, the NASCAR star who qualified fifth for his Indy 500 debut. He'll look to become the fifth driver to pull off "the double" while running in both this race and the Coca-Cola 600 on the same day.
We have you covered with a look at the latest 2024 Indy 500 odds, the favorites, and the most significant storylines for this year's race (odds via our best sports betting apps).
Indy 500 odds 2024
(Indy 500 odds updated May 21)
| Driver | DraftKings | FanDuel | BetMGM | Caesars |
|---|---|---|---|---|
| Scott McLaughlin | +400 ❄️ | +450 | +550 🔥 | +500 |
| Josef Newgarden | +550 | +550 | +600 🔥 | +550 |
| Will Power | +650 | +650 | +700 | +700 |
| Kyle Larson | +700 | +650 | +700 | +650 |
| Alexander Rossi | +1000 | +1000 | +1500 🔥 | +1200 |
| Alex Palou | +1100 | +1000 ❄️ | +1300 🔥 | +1200 |
| Pato O'Ward | +1100 🔥 | +1100 | +850 | +800 ❄️ |
| Colton Herta | +1600 🔥 | +1300 | +1200 ❄️ | +1200 |
| Scott Dixon | +1800 | +1800 | +1000 ❄️ | +1400 |
| Santino Ferrucci | +1800 | +1800 | +1800 | +2000 🔥 |
| Rinus Veekay | +1800 | +1600 ❄️ | +1800 | +2200 🔥 |
Favorites to win Indy 500
Scott McLaughlin (+550 via BetMGM)
McLaughlin was dealing as high as 12/1 entering the weekend with six drivers catching shorter consensus odds. That's no longer the case after McLaughlin's record-setting display during Sunday's qualifying.
The No. 3 posted a four-lap average of 234.220 mph, besting the record that defending IndyCar champion Alex Palou set ahead of the 2023 race (234.217). That earned him his second pole of the season after winning the Grand Prix of Alabama from the same spot on April 28.
The 30-year-old has never finished better than 14th over three career Indy 500 starts, but he also hasn't started better than 14th. He'll be tough to beat if McLaughlin can carry his qualifying momentum into Memorial Day weekend.
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Josef Newgarden (+600 via Caesars)
Newgarden qualified third for Sunday's race, but he's getting the second-shortest odds after winning at The Brickyard in the 2023 running of this storied event.
The two-time IndyCar champion had previously gone 0-for-11 in the most significant race of the series circuit, tied for the most starts before winning one. He eventually overtook 2022 winner Marcus Ericsson with a last-lap pass to win the 2023 Indy 500, becoming just the third driver to pull that off in this race.
He'll join Team Penske teammates McLaughlin and Power in the front row on Sunday, looking for his first top-three finish of the season after three straight races outside the top 15.
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Kyle Larson (+700 via DraftKings)
The most significant wild card in the 2024 race is Larson, who's the current favorite by the NASCAR Cup Series championship odds. He'll look to become the fifth driver to secure "the double" by running the Indianapolis 500 and Coca-Cola 600 in the same day.
Larson has never raced in the IndyCar series, though he's been preparing with test drives since October. He got off to a brutal start in practices ahead of his Indy 500 debut, but Larson bounced back to qualify fifth for Sunday's race, forcing most of our best live betting sites to slash his price entering this week.
The one exception is bet365, which is offering one of the best sportsbook promos for this race with a +800 odds boost on Larson. Those odds represent an implied probability of 11.11% that Larson wins his IndyCar debut, with an $80 profit on a $10 wager, according to our odds converter.
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How to bet on the Indy 500
Once you've chosen your favorite of our best live betting sites, navigate to the motorsport or auto racing section. Look for the Indy 500 specifically, which is usually prominently featured ahead of race day due to its popularity. You'll find various betting options available, including outright winner, podium finish, head-to-head matchups, and more.
Review the odds for each driver and consider factors such as past performance, track record, and current form. This information can help inform your betting decisions. Once you've selected your bet, enter the stake amount (the amount of money you want to wager) and confirm your bet.
It's essential to remember that betting on the Indy 500 or any other sports event involves risk. Set a budget for yourself and gamble responsibly. Stay updated on the race, as factors like weather conditions and driver changes can impact the outcome. Enjoy the thrill of the race and may your bet be a winning one!
How to watch Indy 500
When: Sunday, May 26 at 12:45 p.m. ET
Where: Indianapolis Motor Speedway (Speedway, Ind.)
How to watch: NBC, Peacock (streaming)
Defending winner: Josef Newgarden
Favorite: Scott McLaughlin (+450 via BetMGM)
Past Indy 500 winners
| Driver | Year |
|---|---|
| Josef Newgarden | 2023 |
| Marcus Ericsson | 2022 |
| Helio Castroneves | 2021 |
| Takuma Sato | 2020 |
| Simon Pagenaud | 2019 |
| Will Power | 2018 |
| Takuma Sato | 2017 |
| Alexander Rossi | 2016 |
| Juan Pablo Montoya | 2015 |
| Ryan Hunter-Reay | 2014 |
Motorsports betting odds pages
| NASCAR Cup Series Odds | Indy 500 Odds |
| F1 Driver/Constructor Series Championship Odds | Monaco Grand Prix Odds |
Indy 500 FAQs
When is the 2024 Indy 500?
The race is set to run on Sunday, May 26, 2024. The green flag will fall at 12:45 p.m. ET at famed Indianapolis Motor Speedway.
Who is the Indy 500 favorite?
Scott McLaughlin is the favorite to win the 2024 Indy 500 after setting a track record with his qualifying time. His consensus +450 odds carry an implied win probability of 18.18% and would pay out $45 in profit on a $10 wager.
Where is the Indy 500?
The race is held annually at the Indianapolis Motor Speedway in Speedway, Ind.
Who is the honorary 2024 Indy 500 starter?
The honorary starter for the 2024 Indy 500 is author Aaron Likens.
Who won last year's Indy 500?
Josef Newgarden won the 2023 running of the Indy 500, overtaking 2022 winner Marcus Ericsson on the final lap to win in his 12th attempt. He became the third driver in the history of the race to win on a last-lap pass, and his 11 previous tries were tied for the most starts before eventually winning this race.
Why does the Indy 500 winner drink milk?
The tradition started when Louis Meyer requested a glass of buttermilk after winning his second Indy 500 race in 1933. He did so again following his third win in 1936, and he was photographed swigging from the bottle of milk while holding up three fingers to signify the third triumph.
A local dairy company - unaware Meyer was drinking buttermilk - offered a bottle of milk to the winners of future races. Milk has been presented each year since then, apart from 1947 to 1955.
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