2022 Indy 500 Odds, Race Preview and Pick

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Alex Palou, driver of the #10 NTT Data Chip Ganassi Racing Honda, prepares to drive during qualifying for the NTT IndyCar Series XPEL 375 James Gilbert/Getty Images/AFP

Scott Dixon picked up pole position during Sunday’s qualifying which in turn has led the sportsbooks to declare him as a pre-race favorite at +550, but the Australian-born driver has just claimed 1 win from his 4 starting pole positions in his Indy 500 career.  

It is time for Dixon to win his first Indy 500 since 2008. If so, it won’t be easy as theirs some top-quality drivers in this year’s race that he will have to beat.  

Check out our favorite betting picks ahead of this year’s iconic race.  

Indianapolis 500  

Sunday, May 29, 2022 – 12:45 PM EDT at Indianapolis Motor Speedway  

Indy 500 Outright Betting Odds

The betting odds are available with BetOnline (visit our BetOnline Review)

  • Scott Dixon: +550 
  • Alex Palou: +700 
  • Pato O’Ward: +900 
  • Josef Newgarden: +1100 
  • Rinus Veekay: +1200 
  • Colton Herta: +1400 
  • Scott McLaughlin: +1400 
  • Will Power: +1400 
  • Takuma Sato: +1600 
  • Marcus Ericsson: +1600 
  • Jimmie Johnson: +1800 
  • Rest of Field: +2000 

Indy 500 Race Preview  

This will be the 106th edition of the famous Indy 500 race and as always, it’s set to be an exciting one with many top names in the mix as well as a lot of chunky betting odds available for sports bettors to get their teeth stuck into. 

Last year’s Indy500 winner Helio Castroneves is seeking to become the first driver in history to pick up 5 race wins although he has a lot to do starting at the back of the grid in 27th place. Castroneves was a massive +3000 to win last year’s race.  

Although it must be said he did get lucky with some front runners not finishing last year’s race, Scott Dixon started on pole also last season but suffered a spin on his pit lane exit during the race and ended in 17th.  

IndyCar Overall Season Results  

The Indy500 race is a part of the IndyCar series, which many non-IndyCar fans are unaware of worldwide. The season thus far has been very interesting with Australian Will Power picking up two pole positions and five top-five race finishes but has yet to win a race. 

American driver Josef Newgarden has picked up two wins from the opening five races but besides his race wins, he failed to finish inside the top 13 on the other 3 occasions.   

Alex Palou has seen three podium finishes but has yet to win a race whilst this year’s Indy500 pole-sitter Scott Dixon’s best finishes this season has been 5th place on two occasions.  

Heading into this race Will Power leads the championship on 170 points with Alex Palou 2nd on 156 and Scott McLaughlin in 3rd on 153 points after picking up a 1st and 2nd place finish in the opening two rounds.  

Indy 500 Race Betting Picks  

Dixon has now been made a favorite for the third consecutive year but as we stated he has yet to finish inside the top 4 this season and hasn’t converted pole position at the Indianapolis speedway in his previous three starts. It’s harsh to write him off but value-wise we are looking elsewhere.  

Alex Palou (+700) 

Our favorite betting pick has got to be Alex Palou who is Dixon’s teammate, Palou finished 2nd in the race last season and is coming off the back of his worst race this season last time out with an 18th place finish.  

Palou has been better than Dixon this season having picked up 23 points more than him and won the IndyCar series in 2021. We are expecting a Palou comeback this weekend and are more than happy to get on the Spanish driver at +700.  

Takuma Sato (+1600) 

We had the winning ticket in 2020 as Takuma Sato crossed the finish line in the first position at +2000, we are taking the 45-year-old Japanese driver here again in 2022 at odds of +1600. 

 He has been the winner of this race on two occasions and starts in 10th position. His aggressive driving style reaped the rewards in 2020, let’s hope he can do so again at +1600 this weekend.  

Graham Rahal (+3300) 

Another notable big odds outsider worth considering for a small play or two is Graham Rahal at +3300, the American finished 3rd in 2020 and was looking good for a win last time until he suffered a crash exiting the pit lane.  

*The line and/or odds on picks in this article might have moved since the content was commissioned. For updated line movements, visit BMR’s free betting odds product.