The Indianapolis 500 is among the most coveted racing events in the Indy500 Series, iconic from its road course design to a long list of prestigious winners lifting the trophy. A huge number of people from around the world, not just the US, tune in to watch the race play out.
If you’re looking to take part in the betting scene for yourself as you sign up for the most popular betting sites for the Indianapolis 500, here’s all you need to be aware of for the 2022 race in May.
Odds for The Indianapolis 500
Alex Palou
Alex Palou has had nothing short of a remarkable career so far in the IndyCar circuit. The 2021 series champion, Palou, races for Chip Ganassi Racing. He’s the first Spaniard to win the American National championship as well as the GP3 series. With 3 wins, 11 podiums, and 2 poles so far, Palou shows a great deal of promise.
It’s important to know that the defending champion won’t necessarily have the best odds or chances to take the title again, but Palou has had a great season so far, and many believe that he’s more than a one-hit-wonder. Will the competition be able to take him out, or does he have it in him to do a repeat? Most sports betting odds favor him.
Josef Newgarden
If there’s any word to describe Josef Newgarden, consistent would be the right pick. Over the last 5 years, Newgarden has only been out of the top 2 positions once, which is a commendable achievement for the young American. It’s important to note that he didn’t have an exemplary race at the 2021 Indianapolis 500, but the previous years show a great deal of promise.
So far, he hasn’t had a win on the track yet, but he’ll certainly be looking forward to changing that. Considering he’s consistently at the top of his game and the league in general, it won’t blow anyone away if he manages to turn things around for himself and take the win. Many safe betting sites will list him near the top.
Colton Herta
The son of former IndyCar driver Bryan Herta, Colton Herta started as a prodigy. He holds the record for being the youngest person to win an IndyCar Series race, winning the IndyCar classic at COTA. Herta did much better in the 2020 race than in 2021, but it’s a testament to his capability on the asphalt track.
He suffered a tragic upset at Long Beach recently, which might give him more motivation to bounce back. He did end up getting a pole position in the race, which is a sign of things to come for the young American. Herta could upset the crowd and take this one away.
Scott Dixon
Compared to other entries on the list, Scott Dixon is a much older, well-experienced driver with almost twice the time under his belt on the tracks.It’s just too hard to count out Dixon, a statement thrown time and again which he replies to on the field, often beating out his teammates on the road.
Dixon managed to secure the number four position on the overall rankings for the 2021 season, so the Kiwi still has a lot of fight in him yet. The problem is that the competition seems to go higher and higher each season, and it will take a great deal of consistency for the top 3 in total win count to carry on his legacy. The sports odds are always favoring him to some degree.
PatoO’Ward
Ever since his switch to Arrow McLaren SP, PatoO’Wardhas been a different beast in the IndyCar Series. The rankings are a clear indicator of that, as he shot from 26th to 4th position. He had proved his potential on the circuit. Currently, he’s had 6thand 4th place finishes in the Indianapolis 500 so far, which are certainly impressive.
The 2022 season has been less about his great run and more about the uncertainty for his future, which has led to some changes to his odds, as experts expect the drama might lead to a less than stellar performance. But going by potential and stats, O’Ward is a tough cookie to crumble.
Will Power
Just like fellow Scott Dixon, Will Power has been around the circuit for a while. The Aussie knows what it takes to win the Indianapolis 500, doing so in 2018. He’s also been a force to reckon with on the asphalt, regularly ending up in high rankings on the circuit, which clearly show that he’s got a lot of fight in him. 2022 has been nothing but exceptional for him.
Various stats suggest that he’s had a greater start than ever, having top 5 finishes in his first 3 races of the year. If he continues with the same momentum, it won’t be a huge surprise to anyone if Will Power manages to secure the top position in the Indianapolis 500 for the first time since 2018. Most sportsbook dealers will mention him.
Scott McLaughlin
Scott McLaughlin lost some of his appeal after a weak 2020 IndyCar series finish at 35th, but he was able to bounce back and make a name for himself all over with his run in 2021. Some of his statistics, such as the number of laps he’s led so far in 2022make him a dark horse in the lineup, and many bettors will be vying to opt for the New Zealand driver.
It’s important to keep an eye on the younger Scott as the interim races before the Indianapolis 500 take place, which might push his lead further, and the odds could potentially work more in his favor as he continues to dominate the circuit.
Betting Markets for The Indy 500
People that are familiar with horse racing betting will be familiar with most of the betting markets available in the Indy500 circuit. Many of these are also shared by other sports from around the world, so you shouldn’t have a lot of trouble understanding them, and these principles might help you learn the betting system for other sports as well. Many experts will tell you that real profitability comes from understanding as many markets as you can and betting on them efficiently for the best results.
Winner/Outright Bets
The easiest Indy 500 betting market is the outright winner wager, where you have to bet on the racer that you think will win the event. It’s ideal for people that don’t want to pay too much attention to all of the nitty-gritty details of the event. While this may seem like a downer, even the top racers may have fairly long odds.
The reality is that motorsports have numerous aspects that you can’t rule out, which creates a lot of unpredictability in determining odds. Generally, many of the top contenders don’t have better than 6-1 odds, and it’s not an odd occurrence to see past winners or defending champions be beyond 10-1 or even worse. Keep this aspect in mind when betting on the event. A huge list of sports betting sites will offer these.
Top 3 Finish
If you’re well-acquainted with horse racing, you’ll recognize this form of betting market as it resembles the win-place-show market. To put it simply, you have to pick the three racers that you believe will end up in the top 3 positions at the end of the race. Because there are around 33 racers in the event, it can become fairly difficult to pick not only the right winners but also in the correct order.
The probability of picking the 3 correct options itself is fairly low, which requires substantial information to make it a worthy wager. For this reason, bettors don’t have to get the exact order, only the names of the racers right. Online betting makes this market much more accessible.
Head-to-Head Matchups
Head-to-head matchups are considered a simpler but more exciting form of bet in the racing community. Rather than focus on all of the drivers, you’re pitting two drivers against each other, wagering on which of them will be ahead of the other. It doesn’t matter if the two of them end up in the last two positions, as long as you’re wagering on the right option.
To make it easier to set these odds, most oddsmakers use the Moneyline system to indicate the odds. The Moneyline uses the positive (+) sign for the driver that’s the favorite and the negative (-) for the underdog.
Futures bets
From a functional perspective, the futures and the winner/outright bet are the same. You have to determine who will be the winner of the event. The difference is when these wagers take place. As the name suggests, you’re getting more into the future, so these bets take place months or at least a few weeks before the Indy 500.
If it’s not obvious enough, these wagers are risky because you don’t have enough data at hand at times to determine who will win. A lot can happen, ranging from personal problems, injuries, and a poor run due to various issues in the races before the big event that can lead a potentially great wager into a bad option over time.
Proposition bets
Proposition bets are more than your average bet, as they try to incorporate a form of angle or gimmick into the wager. Many of these are generally for fun but work as legitimate wagers that you can bet on and win. Note that some of these might not depend as heavily on the driver’s competence and other aspects instead.
For example, a common proposition bet is among former winners, wagering on who will end up in the highest position. Another fun bet is betting on the winner’s home country instead of the actual bettor itself, which can be great if many of the top drivers are from the same nation, improving your probability on paper. Bet on sports online smartly using these.
Indy 500 Betting Tips
Line Shopping
Line shopping is the option for bettors to try out various online betting sites and look at the betting lines that they offer. It’s never recommended that people use only one betting site for all their needs, as it’s possible that they might not be providing the best lines to the user. For example, Pato O’Ward may be listed for +900 on one site but +1200 on the other. Line shopping is a great way for the bettor to ensure that they can go around and look for the best available option so that they’re getting good value for their money.
You might not have line shopping options for every market out there, but it’s always worth a try to scour around and look for what’s available. Go for the sportsbook with the best odds each time. Learn all about the odds firsthand.
Do Your Research
While this may sound like a no-brainer to some, it’s fairly common for people to bet blindly on IndyCar races. In reality, it can be hard to make the right wager once you’ve done all the math, so imagine how difficult it can be to just blindly pick an option. Luckily, there’s a great amount of data available online on the series that you can use to your advantage.
Similarly, it’s one of the most heavily covered sports in the world, which means many sports outlets are reporting on it already. Many online betting apps will already feature these updates.
Conclusion
Betting on the Indianapolis 500, where 33 racers are going head to head, with the level of competition on display, is difficult but a lot of fun. Sports bettors can do better by maximizing their profitability by focusing on all of the markets available to them, rather than trying to dump their money on one or two options.
With the race set to take place in May, it’s time for people that don’t even know AJ Hoyte to catch up and prepare for the event. It’s the big race, which means that the betting profitability chances are equally high. Using the world’s top betting sites online, recommended by Betting Sites Ranking, is a great way to stay competitive. Advantages like the 1xbet bonus come in handy for users.
Betting Sites Ranking will help you find the top 10 betting sites in the world, covering websites for more than 105 countries. Whether you’re looking for online betting games, to bet on sports online, or online casino gambling, you can benefit from Betting Sites Ranking.
