Choosing Your Indy 500 Sportsbook
The Indianapolis 500, better known simply as the Indy 500, is a motorsports event held every year at the Indiana Speedway. It takes place over 500 miles and is considered part of the Triple Crown of Motorsport.
You can now bet on all the action of the Indy 500, which takes place over Memorial Weekend in May. Before you start placing bets, you'll need to join an online sportsbook. There are lots of options available if you're in a state with legal betting, and knowing which to choose can be difficult.
When deciding which sportsbook to join, we recommend looking at the following factors:
License and Security
If you want to have a safe and legal experience, it's important to only choose licensed sportsbooks. Always check that the site you join is licensed in your state. This ensures your funds are kept safe and means you don't have to worry about any legal issues. Choosing a secure site also means making sure the sportsbook you join uses encryption to keep your personal details private.
Reputation
Top sportsbooks have a great reputation based on years of operating and offering the best quality of service. You can find out more about each site's reputation by reading our sportsbook reviews. By looking at reputation, you can see how regular customers are treated and have an idea of what to expect when you join.
Ease of Use
It should be really easy to register your account, make deposits, and start placing bets on the Indy 500. Before you join, check out the site and how easy it is to use. Ideally, it should have a simple layout and menus that allow you to find your bets quickly and without needing to do lots of scrolling. It should also be easy to navigate through the sportsbook to anything you need to find.
Bonuses
You can claim bonuses when you first join a sportsbook, and they're a fun way to increase your bankroll and minimize the risk of betting. All of our recommended sportsbooks offer welcome promos for new users, and many have regular bonuses you can claim too. Read through the bonus terms before you join to make sure they're simple to claim.
Odds
The odds affect your profits when betting on the Indy 500, with better odds meaning bigger potential wins. Before you join, compare the odds to those at other sites and check that you're getting the best deal. Small differences in odds can make a big difference over time.
Betting Markets
The Indy 500 is one of the world's most prestigious motorsport events and should have lots of markets for you to bet on. When looking for a site to join, check which options are available on the Indy 500 and other motorsport events.
Payments
Making payments using your sportsbook account should always be easy. Make sure you choose a site that accepts your preferred payment method. Deposits and withdrawals should be fast, free, and secure, with no waiting around for your funds to clear.
Mobile Access
Most people now bet from their mobile, whether that's using a tablet or smartphone. All of our recommended sportsbooks are fully compatible with mobile devices, offering a fun app you can download to place bets on the go. Check to see how easy the site is to access on your mobile before you join.
Customer Service
When you create a sportsbook account, it's good to know that you can find support if you need it. Great betting sites offer quality customer service, making it easy to get in touch with someone if you have an issue or a question.
Our Indy 500 Betting Site Reviews
While you can check out the available sportsbooks available, most states have a long list of options you can join. Checking out all of them is time-consuming, but you can save time by simply reading our reviews.
Our expert review team signs up to every available sportsbook and tests them out. We carefully research each and every feature to give you all the details. Before you join a betting site, check out our reviews to see what they offer and find the best option for you.
Indy 500 Promos and Bonuses
Betting online isn't just more convenient, it's a lot more fun too. That's thanks partly to sportsbook promos, which are special offers you can claim when you sign up and start betting. Those that are specifically for new users are known as welcome bonuses, and they're always very easy to claim.
When you claim your sportsbook promos, you can use them on the Indy 500, boost your bankroll, and get more value out of your bets. Here are some of the most common that you're likely to come across:
| Bonus Type | Example | Explanation |
| Matched deposit bonus | 100% bonus up to $500 | Claim $500 in bonus funds when you deposit $500 |
| No deposit bonus | $25 bonus | Claim $25 when you first sign up |
| Risk-free bet | $500 risk-free | Place a bet of up to $500 and get your entire stake refunded if it loses |
| Bet credits | $100 in free bets | Use your bet credits to place a bet and keep any winnings if it wins |
| Odds boost | 25% increased odds | Increase your odds and potential winnings by applying this boost to your bet |
| Loyalty rewards | Claim 1 reward point for each $1 you bet | You can collect reward points and exchange them for other bonuses |
How to Claim a Bonus on the Indy 500
When the Indy 500 is drawing closer, many sportsbooks will advertise special promotions to encourage signups. How you claim will depend on the promo itself, and you should always read through the full terms and conditions. Here's a quick guide to claiming a typical promo:
- Sign up to a sportsbook
- Make your first deposit and use the promo code if required
- Place your qualifying bet
- Claim your bonus and use it according to the terms
Indy 500 Betting Guide
Along with 24 Hours le Mans and the Monaco Grand Prix, the Indy 500 forms part of the Triple Crown of Motorsport. As such, it's one of the biggest events on any racing fan's calendar. It occurs every year, with the race held during Memorial Day weekend, which is the last week of May.
Before and during the race, you can place real money wagers on the outcome. There are lots of ways to bet, and placing your first bet is really straightforward. Once you've signed up and made your first deposit, you can search for the event. It's also possible to use the menu to find motorsport or search for the name of a driver.
Top Indy 500 Betting Markets
The Indy 500 is one of the biggest motorsport events in the world. Thirty-four drivers compete over 200 laps to complete the 500-mile circuit, all vying for a chance to finish first place. At the end of the race, only one driver is crowned champion, and you can bet on the winner.
However, there are lots of other options to bet on too. These are known as betting markets. Here are some of the most popular for the Indy 500:
To Win
This is the simplest and most popular bet. You're betting on which driver you think will complete the 200 laps first. As there are thirty-four drivers on the grid, there are a lot of options to bet on. Typically, people go with the favorites, but you can never rule anyone out. In 2023, the winning driver, Josef Newgarden, started with odds of +1600.
For example, if you bet on Takuma Sato, he'd need to win the race for your bet to win.
Podium
Aside from betting on the eventual winner of the race, you can also pick a driver who you think will finish in the top three places. At the end of the event, the top three drivers share the podium, ranked first, second and third. Whichever driver you bet on, they simply need to end up on one of the three top positions for your bet to win.
For example, if you bet on Alex Palou to reach the podium and he finishes second, you'll win your bet.
Head-to-Head Matchups
This is an exciting way to bet on a race that lets you pit two rival drivers against one another. You choose which matchup you want to bet on and then select which of the two drivers you think will come first. Regardless of the result of the rest of the race, your attention will be firmly fixed on these two drivers and seeing which one comes out ahead.
For example, if you choose Scott Dixon in a matchup between him and Felix Rosenqvist, you'd need Dixon to finish ahead of Rosenqvist in the final rankings in order for your bet to win.
Props
Last but not least, you can also make proposition bets on the Indy 500. These are special bets which aren't related to the outcome of the race itself.
For example, you could bet on the total number of opponents a driver overtakes, or you could bet on the number of pit stops a driver makes or the amount of times the caution flags are shown.
Different sportsbooks will have different proposition bets available, but the Indy 500 usually has a lot of options you can bet on.
Placing Your First Indy 500 Bets
Now you know more about Indy 500 betting markets, you're ready to place your first bets. Here's a quick guide to help you get started:
- Choose one of our recommended sportsbooks
- Register your account by providing your personal details
- Make your first deposit and claim your betting promo
- Search for Indy 500 or find the motorsport option in the sports menu
- Open the markets for the event and select one to add it to your bet slip
- Enter your stake and confirm to place your bet
- Watch the race live to see the outcome and hope for a winner!
Live Indy 500 Betting
Most people place their bets on the Indy 500 long before the race begins. However, you're also able to bet on the race while it's in progress. Live betting lets you view instantly updating odds and place bets during the event.
To access live betting, you just need to log into your sportsbook account and check the odds while the race is on. Being able to watch the race while you bet is a great way to get an advantage, as you have a better understanding of which drivers have the best chances. However, the odds move very quickly, and there are no sure things in motorsport.
Betting on the Indy 500 from Your Mobile
These days, you can bet from just about anywhere, thanks to mobile sportsbook apps. Your sportsbook account is fully accessible on the go, using your smartphone or tablet to log in, make deposits, and place bets.
All of the Indy 500 markets are also available on mobile, as are the best betting promos. You can download the apps we've recommended to instantly start betting wherever you go. However, it's also possible to bet without downloading and installing anything on your device. Simply load the site in your mobile browser to get started.
Indy 500 Betting Strategies
The Indy 500 is one of the biggest and best motorsport events in the world. It attracts huge crowds, not least thanks to the party atmosphere and festival-like experience that fans can enjoy. Betting on the race can make things even more exciting, but if you're looking to make long-term profits, you need to use the right strategies.
While there's no guaranteed way to make money on the Indy 500, you can improve your chances of success by following these tips:
Get the Best Odds
Whenever you place a bet on the Indy 500, make sure you're always getting the best possible odds. The lines and prices will vary quite a bit between sportsbooks, especially close to the event. Choose a sportsbook that offers great odds, and be sure to compare them before you confirm your bet. Getting the best odds will help increase your potential for profits, especially over a longer time period.
Know the Owners
The drivers are just one facet of making a winner. All drivers race for a specific team, and their team will affect the type of car they use and other factors that have a big impact on success. Team Penske is by far the most successful, having won the race a record 19 times since 1972. This includes three winners in the past six years. Chip Ganassi Racing and Andretti Autosport also have great records.
Pay Attention to Practice and Qualifying
A month before the race gets underway, drivers get to make practice laps to get a feel for the track and allow the teams to calibrate their cars. This is a good opportunity to see how a driver is likely to do in the real race, although the fastest practice times don't necessarily mean a championship win. Qualifying is important too, as it affects where on the grid each driver starts.
Take Season Form Into Account
The Indy 500 is part way through the IndyCar season, which usually starts in March and ends in September. There are five other races taking place before this one, and it's worth taking driver form into account. You should be looking to see which drivers are regularly competing for the podium in previous races. However, it's worth noting that the Indy 500 is a unique challenge for any driver.
Don't Go For Longshots
With so many drivers on the track, there are a lot of opportunities for longshots. The driver with massive odds might seem tempting when you're thinking about the potential payout. However, it's traditionally a top-heavy race. In most cases, the favorite drivers are in the lead positions, and the race is typically won by one of the biggest teams.
Manage Your Bankroll
Last but not least, make sure you're managing your bankroll carefully while betting on the Indy 500. Although it's only a single event, you want to ensure you're not putting your entire budget on it. Split your bankroll into units, and be careful not to bet more than you can afford to lose. With sensible betting, you stand a far greater chance of making better profits.
Indy 500 Betting FAQ
Is it legal to bet on the Indy 500?
Yes, sports betting is now completely legal in many parts of the country. If you're in a state with legal betting, you'll be able to place real money bets on the Indy 500, both before and during the race. However, you need to make sure you use a licensed sportsbook.
Where can I bet on the Indy 500?
Betting on the Indy 500 is now available at all top sportsbooks. If you want to bet, you'll need to register an account with an online betting site, choosing one of our recommended options for the best experience. Once you join, you can search for motorsport or Indy 500 in the menu.
Which driver is most likely to win the Indy 500 this year?
Josef Newgarden was the most recent winner of the Indy 500, becoming the first American to do so since Alexander Rossi in 2016. For the 2024 race, it's too early to make real predictions, but there are a lot of excellent drivers who have a chance. Closer to the race, check out the current form of the top drivers and their qualifying laps to get a good idea of who will be on the podium.
Can I claim an Indy 500 sports betting promo?
Yes, all of our recommended sportsbooks offer betting promos which you can claim and use on the Indy 500. They're really easy to use and help you maximize the value of your bets. Before you join, always check the terms of the bonus and how to get the most out of it.
What is the best bet for Indy 500 2024?
The Indy 500 is several months away, and it's hard to say with any level of certainty which bet is most likely to win on the day. However, if you're looking for the best market, we recommend betting on which driver will finish on the podium. Make sure you research your bet carefully and consider all the different factors that can affect the result.
Sources
Author
Tom Edlin is a senior author and contributor to SportsbookPromo.com. He's been writing and reporting on the US sports betting industry for years and has crafted hundreds of in-depth reviews and guides.
Chris Williams is a senior editor and fact checker at SportsbookPromo.com. He's been active within the US sports betting industry for over five years and has edited and fact checked hundreds of articles.