Last updated on: December 7th, 2023

Sportsbooks That Accept Bets On The Indy 500 

There is no better way to spend your Memorial Day weekend than participating in legal Indy 500 betting. With sportsbooks taking Indy 500 bets, you’ll be able to bet on who will win the Indy 500 and many other prop bets too. No matter where you are, you can find a legal Indianapolis 500 betting site online to place a real money bet. Stick with Team Penske or fade that legal sports betting thought and ride with Andretti Autosport. It doesn’t matter. Just know a little bit about Indy 500 betting first before watching 200 laps on IndyCar action.

Indy 500 Racing Facts

Date: Sunday, May 26, 2024

Location: Indianapolis Motor Speedway – Speedway, Indiana

Race Time: 12:45 p.m. EST

Distance: 200 laps on a 2.5-mile track

Purse: TBD, ~$8-10 million

Favorite: Alex Palou +550

Best Indy 500 Sportsbooks

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1 Bovada Online Sportsbook Exclusive 50% Bonus Code up to $1000!Read Review BVD1000 in Cashier
2 BetOnline Online Sportsbook 50% Up To $1,000Read Review Visit BetOnline!
3 MyBookie Online Sportsbook 50% Up To $1,000 Read Review Visit MyBookie!
4 Xbet Online Sportsbook 100% Up To $300Read Review Visit Xbet!
5 Sportsbetting Online Sportsbook 50% Up To $1,000 Read Review Visit SportsBetting!

Is It Legal to Bet on The Indy 500?

Yes, there are a variety of legal sportsbooks that take Indy 500 bets all throughout the US. Choose to bet in person in one of the many states with legal sports betting. If visiting the area, Indiana sports betting is also fully available with in person and online sportsbooks taking action on the event. No matter which method is chosen, both are legal ways to bet on the Indy 500 in the US.

Best Indy 500 Legal Sports Betting Sites


Bovada Sportsbook

Top Rated Indy Car Sportsbook

Using Bovada as an Indy 500 betting site is a wise choice. They offer up to date Indy 500 odds and a handful of prop bets on the race too. It isn’t the widest betting selection (compared to an NFL or NBA game), but Bovada offers a similar style of betting the Indy 500 to NASCAR races. Bitcoin, credit cards, and MatchPay are just a few deposit methods to get started. Once you sign up, you’ll see how great Bovada is for legal Indy 500 betting.

Rating: 5 Star Rating

  • Indy 500 Odds
  • Parlays
  • Easy-To-Use Interface

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BetOnline Sportsbook

Legal Indy 500 Odds

Though basic, BetOnline does the job as a top Indy 500 online betting site that is legal. Only offering odds on who will win the Indy 500, BetOnline doesn’t do much to set itself apart from DraftKings, FanDuel, and other state-regulated sportsbooks. Still, BetOnline beats all of those auto racing sportsbooks because of their sportsbook bonuses and methods for funding an account. If you have Bitcoin, find a boost of up to $1,000 in free play, making Indy 500 betting that much easier.

Rating: 5 Star Rating

  • Reliable Banking Methods
  • Strong Server Connection
  • 10+ Year Track Record
  • Huge Assortment Of Odds
  • No App Mobile Betting

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Ways To Bet on The Indy 500

The ways to bet on the Indy 500 start with the simplest form of betting: who will win the Indy 500? Sportsbooks that take Indianapolis 500 bets like the most recent Indy 500 betting odds above payout bettors based on the odds presented. No matter if you want to take an underdog, or ride with the favorite, there are many Indy 500 sportsbooks that accept US players.


Pitting two drivers against each other, betting on Indy 500 head-to-head matchups can be rather hard. Often, the legal sports betting sites will offer two drivers with similar odds or finishing expectations. This means, it isn’t common to see odds above -125. Only Scott Dixon (-145) had a large odds advantage over Scott McLaughlin (+110) in 2023. Otherwise, head-to-head betting odds appear as such.

Group Winner

Just like a head-to-head, betting on a group winner is picking the best finisher of a group of four. Most often, the odds will be starting around +250 and range close to +400. Because Indy 500 sportsbooks group similar skilled drivers, the top groups can be hard to bet, but the lower groups offer some easier variance.

Top 3 Finish

Instead of betting on who will win the Indy 500, take a shot at who will be on the podium. Similar to horse racing betting, you can bet on drivers to finish in the top 3. While their odds are drastically reduced, it also creates some cushion for IndyCar betting favorites who may or may not lead the pack at the end. The shortest odds to expect in this category exceed +200, while many longshots can sit with odds above +1000.

Top 5 Finish

Just like the top three finish, this Indy 500 prop bets offers even more of a leniency. Now needing to finish in the top 5, bettors can find a racer that belongs to a great manufacturer and company. The favorites may be in the negatives, but the longshots can triple, quadruple, or quintuple your bankroll in a few laps. Finding success in the long odds is tough, so consider taking the -110 odds on the Indy 500 favorite to finish here.

Top 10 Finish

You get the point by now. Drivers must finish in the Top 10 for Indy 500 sports betting sites to cash out bettors. Many drivers will have negative odds for this Indy 500 betting style, so avoid the top favorites. But, a bet on a few middle of the pack drivers can lead to a profit, as many racers hold odds around -115.

Indy 500 Prop Bets

Aside from these future style bets, sportsbooks that accept Indy 500 bets offer various props. These can be yes/no type questions, picking between two selections, or betting an over-under. While you may not find betting odds on an Indy 500 crash, you’ll instead find prop bets on the Indianapolis 500 like this. Before placing any props or other Indy 500 bets, make sure to check out the legal sports betting bonuses that are available to all new players.

Some Indy 500 Betting History

It isn’t uncommon for longshots for the Indy 500 to hit. Over the last few races, many winners came in with Indy 500 odds above +1000. Still, focusing on certain teams and manufactures is the way to go. Since 2005, three teams have dominated the Indy 500. Other than them, Rahal Letterman Lanigan Racing has won two – the only team with multiple Indy 500 wins since the year 2000.

  • Andretti Autosport (2005, 2007, 2014, 2016, 2017)
  • Chip Ganassi Racing (2008, 2010, 2012, 2022)
  • Team Penske (2006, 2009, 2015, 2018, 2019)
Year: Winning Driver: Odds:
2023 Josef Newgarden +1400
2022 Marcus Ericsson +1400
2021 Hélio Castroneves +3300
2020 Takuma Sato +1600
2019 Simon Pagenaud +800
2018 Will Power +1000
2017 Takuma Sato +1500
2016 Alexander Rossi +2000
2015 Juan Pablo Montoya +550
2014 Ryan Hunter-Reay +1200
2013 Tony Kanaan +1500
2012 Dario Franchitti +900
2011 Dan Wheldon +1000
2010 Dario Franchitti +450
2009 Helio Castroneves +400