Indy 500 Betting in 2020

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The smell of rubber and asphalt brings to mind the best Indy 500 betting! As you know, the Indianapolis 500 is a famed, open-cockpit car race in America since 1911. In 2019, Simon Pagenaud won the 103rd Indy 500 race.

In this guide, we lay out the best Indy 500 betting tips, odds, and predictions. Plus, we outline which sportsbook to go with and how to place your bets.

Lots of these sportsbooks are going to be offering bonuses and promos, so we’ll run those down for you as well.

Indy 500 Betting 2020

The next event, the 104th, will take place on Sunday, August 23, 2020. Want the latest details on the best Indy 500 betting? Continue reading to learn where to bet, how to bet, which sportsbooks are offering the best bonuses and get the latest odds.

However, since Indiana online sports betting is now available – it is sure to be a popular event to bet on!

Best Indy 500 Betting Sites

  • DraftKings Sportsbook – Up to $1,000 Sign-up Bonus
  • Fanduel Sportsbook – Risk-Free Bet up to $500
  • BetRivers Sportsbook – 100% Deposit Bonus up $250
  • Unibet Sportsbook – $20 Free + $250 Risk-Free Bet
  • PointsBet – $250 in Free Bets on Deposit
  • BetMGM Sportsbook – $500 Deposit Match
  • bet365 Sportbook – Up to $100 in Bet Credits
SportsbookIndy 500 Betting: Current PromotionsPlace Your Bets
DraftKings Sportsbook– Up to $1,000 Sign-up Bonus
– No Promo Code needed, just use links!
Go to DraftKings >>
BetRivers PA– 100% deposit bonus, up to $250
– Wagering Requirement: 1x
Use Code: PAMAXSPORT
BetRivers IN, CO & IL – 100% deposit bonus, up to $250
– Wagering Requirement: 1x
Use Code: 250MATCH
Unibet NJ & PA– $20 FREE
– $250 Risk-Free Bet
No Code, Use Links >> Unibet NJ/Unibet PA
PointsBet– Deposit $50 & Bet With $150
– Deposit $150 & Bet With $300
– Deposit $250 & Bet With $500
Use Code: MAXBONUS
BetMGM – $500 in Free Bets
– New & improved sportsbook
Use Code: BETNJ500
bet365– Up to $1000 in Bet Credits
– World’s #1 Online Sportsbook
Use Code: NJMAX*
T&Cs Apply, 21+. Last VerifiedNovember 2020 

*The bonus code NJMAX can be used during registration but does not change the offer amount in any way.

Indy 500 Fast Facts

Starting in 1911, this historic race in Speedway, Indiana features open-cockpit, open-wheel vehicles on an oval track. Like F1 cars, Indy cars have the wheels further away from the chassis and not tucked in under a fender as with NASCAR. As for winners, the current record holders are Rick Mears, Al Unser, and A.J. Foyt, who have won the race four times each.

  • Date: Sunday, August 23, 2020
  • Time: 12:30 PM Eastern
  • Track: Indianapolis Motor Speedway in Speedway, Indiana
  • Distance: 500 miles (approx. 200 laps around the track)
  • Race series: IndyCar
  • Defending champion: Simon Pagenaud

2020 Indy 500 Betting Odds

Indy Driver Win/Place (Odds from BetRivers)
Scott Dixon+550
Will Power+700
Alexander Rossi+700
Simon Pagenaud +750
Josef Newgarden+800
Colton Herta+1200
Helio Castroneves+1600
Felix Rosenqvist+1600
Ryan Hunter-Reay+2000
Takuma Sato+2000
Fernando Alonso+2200
Santino Ferrucci+2200
Ed Carpenter+2500
Tony Kanaan+2500
James Hinchcliffe+2800
Patricio O’Ward+2800
Marco Andretti+3300
Marcus Ericsson+4000
Spencer Pigot+4000
Oliver Askew+6600
Sebastien Bourdais+6600
Carlos Munoz+6600
Zach Veach+6600
Conor Daly +8000
Jack Harvey +8000
Rinus VeeKay +8000
Sage Karam +10000
Charlie Kimball +10000
Scott McLaughlin+10000
Alex Palou +10000
Max Chilton +12500
James Davison +12500
Ed Jones+15000
Kyle Kaiser +15000
Dalton Kellet+20000
Matheus Leist +20000
Ben Hanley +25000

Top Indy 500 Betting Offers

DraftKings

DK-signup-bonus

DraftKings Sportsbook is available in CO, IA, NJ, IN, WV, and PA and is here for everyone passionate about betting.

The DraftKings Sportsbook sign up bonus is currently offering new customers a sign-up bonus up to $1,000.

BetRivers

betrivers-affiliate-code

Once you start placing bets, you will quickly see why this sportsbook is becoming one of the top choices in many states.

The current BetRivers Promotional Code gives new players a 100% match on their first deposit up to $250.

Unibet

As part of the Kindred Group, the owners of many hugely successful gambling brands in Europe, Unibet brings the same top-tier gambling to the US.

At the moment, the Unibet bonus code gives new players 2x$10 in Free Bets just for signing up and a $250 Risk-Free Bet after making your first deposit.

How to Bet on the Indy 500

If you’re new to sports betting, don’t worry. We’ll take you through the different kinds of Indy 500 bets you’ll be making and how they work. If this isn’t your first time around the track, we’ll then break down which sportsbooks are going to give handicappers the best edge with bonuses, promos, and the like.

As always, knowing is half the battle, so keep an eye on your favorite drivers (and underdogs) to be making the most informed Indy 500 bets you can.

Betting on Indy 500 Winners

This is pretty straightforward – bet on who you think is going to win. Keep an eye on the Indy 500 lineup in the leading months, and make an educated choice on the winner. There’s a little extra edge to this, however. See, certain sportsbooks are going to have their odds leaned toward a favorite.

For example, if lots of bettors last year on FanDuel leaned towards Danica Patrick due to her retiring, her odds were then skewed. As such, the odds you receive might not match up with reality.

Indianapolis 500 Bet Matchups

Matchups are in the name: your favorite drivers are put into groups, and you wager which driver in those groups will win. For Indy 500 bets, this can be head-to-head, groups of 3 to 6, etc., but make sure you have a working knowledge of each of the drivers in the groups before you make your wager.

Indy 500 Podium Bets (Top 3)

In this type of Indy 500 bet, you just bet on one driver to come in one of the top three spots. Simple. Actually, it can be a bit tricky, as drivers tend to perform consistently at the Indy 500, even if they have good or bad race performance elsewhere. Keep an eye on previous stats to make the most informed, best Indy 500 bet if you’re betting Podium.

Indy 500 Prop Bets

Prop bets are interesting– you’re not betting on the Indy 500 winner but on a whole bunch of other facets of the race. DNF, who will do X number of laps before DNF, will a Brazilian driver win the event, etc.

Indy 500 Futures Bets

Futures bets on the Indianapolis 500 are taking place ahead of time, so get on those now if you want to make your bets. Essentially, you’re betting on the winner and watch your odds go up or down over time. These are definitely not bets for beginners.

Indy 500 Live Betting

Live betting occurs during the actual Indy 500 race and can be a really fun way to bet. You’re going to be wagering on things like who will win the next lap, whose car might be disabled in the next X amount of time, and more. These wagers can be really cheap, too, so it is a fun and fast-paced way to get into Indy 500 betting.

Indy 500 Betting

Indy 500 Favorites

Will Power, winner of the 2018 Indy 500, is an obvious favorite again this year. Also of note is Takuma Sato thanks to his IndyCar Series win in 2018, right on the heels of a 2017 Indy 500 win. Another of Andretti’s team, Alexander Rossi, is quickly developing as a fan favorite in the US, though he placed pretty poorly in last year’s qualifiers. Next, Helio Castroneves, a three-time winner, is on track for a record-making fourth win with Team Penske. Lastly, Josef Newgarden, US-born racer and recent winner of the Astor Cup, is worth keeping an eye on.

Our Choice for Indy 500 Betting

You’re going to want to go with SugarHouse on this one. For betting on the Indianapolis 500, we found that SugarHouse had the best and easiest-to-use app, in addition to having the best bonus offer of any of the sportsbooks mentioned. Get up to $250 when you make your first deposit with SugarHouse, and get ready to bet on the Indy 500, whether you’re making your futures bet now or live betting on race day.

Indianapolis 500 Winning Odds

Let’s take a look at some odds for the Indianapolis 500 race using some 2018 numbers:

Driver2018 Odds
Helio Castroneves11/1
Will Power9/1
Josef Newgarden14/1
Takuma Sato14/1

If you recall, the actual final was this:

Driver2018 Result
Will Power1st Place
Josef Newgarden8th Place
Helio Castroneves27th Place
Takuma Sato32nd Place

Just goes to show, the oddsmakers on these sportsbooks don’t always get things right. Sato and Newgarden had identical odds but very different box scores at the final.

2019 Indy 500 Highlights

Watch: https://www.youtube.com/watch?v=7LX5hP9QMc0

Our Final Thoughts

If you’re going to bet on the fast-paced and thrilling Indy 500 race, make sure your love of the sport keeps you educated on odds, underdogs, and the ins and outs of the series prior to the big race. Then, get on SugarHouse and grab yourself a huge deposit match bonus for the best bang for your buck. Good luck, have fun, and start your engines!

Bet with your head, not over it! Gambling Problem? Call 1-800-Gambler.