Pole sitter Alex Palou and Scott Dixon are co-favorites to win Sunday’s Indianapolis 500 at odds of +650. Palou leads the fastest field in the history of the race, as the average qualifying speed for the 33 drivers was 232.184. That speed is more than a mile an hour more than the previous record set last year. Palou had the fastest qualifying speed of 234.217. Starting up front with Palou are Rinus VeeKay and Felix Rosenqvist but listed with lower odds than VeeKay and Rosenqvist are Pato O’Ward at +725, Takuma Sato at +1050, Alexander Rossi at +1100 and defending Indy 500 winner Marcus Ericsson at +1225. Veekay and Rosenqvist are listed with Indy 500 odds of +1350. Let’s look at Indy 500 odds and picks.
2023 Indianapolis 500 Betting Odds
Alex Palou +650
Scott Dixon +650
Pato OWard +725
Takuma Sato +1050
Alexander Rossi +1100
Marcus Ericsson +1225
Rinus Veekay +1350
Felix Rosenqvist +1350
Scott McLaughlin +1350
Josef Newgarden +1550
Will Power +1400
Santino Ferrucci +1400
Tony Kanaan +2000
Colton Herta +2000
Kyle Kirkwood +2000
Helio Castroneves +2500
Conor Daly +2800
Romain Grosjean +3200
Benjamin Pedersen +3500
Ed Carpenter +4500
Simon Pagenaud +4500
David Malukas +4500
Ryan Hunter-Reay +5000
Marco Andretti +5000
2023 Indy 500 Starting Grid
Starting Position, (Car Number), Driver, Team, Engine, Qualifying Speed
Alex Palou (10), Chip Ganassi Racing, Honda
Rinus Veekay (21), Ed Carpenter Racing, Chevrolet
Felix Rosenqvist (6), Arrow McLaren, Chevrolet
Santino Ferrucci (14), A.J. Foyt Racing, Chevrolet
Pato O’Ward (5), Arrow McLaren, Chevrolet
Scott Dixon (9), Chip Ganassi Racing, Honda
Alexander Rossi (7), Arrow McLaren, Chevrolet
Takuma Sato (11), Chip Ganassi Racing, Honda
Tony Kanaan (66), Arrow McLaren, Chevrolet
Marcus Ericsson (8), Chip Ganassi Racing, Honda
Benjamin Pederson (55), A.J. Foyt Racing, Chevrolet
Will Power (12), Team Penske, Chevrolet
Ed Carpenter (33), Ed Carpenter Racing, Chevrolet
Scott McLaughlin (3), Team Penske, Chevrolet
Kyle Kirkwood (27), Andretti Autosport, Honda
Conor Daly (20), Ed Carpenter Racing, Chevrolet
Josef Newgarden (2), Team Penske, Chevrolet
Ryan Hunter-Reay (23), Dreyer & Reinbold Racing, Chevrolet
Romain Grosjean (28), Andretti Autosport, Honda
Helio Castroneves (06), Meyer Shank Racing, Honda
Colton Herta (26), Andretti Autosport, Honda
Simon Pagenaud (60), Meyer Shank Racing, Honda
David Malukas (18), Dale Coyne Racing/HMD Motorsports, Honda
Marco Andretti (98), Andretti Autosport, Honda
Devlin DeFrancesco (29), Andretti Steinbrenner Autosport, Honda
Callum Ilott (77), Juncos Hollinger Racing, Chevrolet
Agustin Canopino (78), Juncos Hollinger Racing, Chevrolet
RC Enerson (50), Abel Motorsports, Chevrolet
Katherine Legge (44), Rahal Letterman Lanigan Racing, Honda
Christian Lundgaard (45), Rahal Letterman Lanigan Racing, Honda
Sting Ray Robb (51), Dale Coyne Racing/Rick Ware Racing, Honda
Jack Harvey (30), Rahal Letterman Lanigan Racing, Honda
Graham Rahal (24), Dreyer & Reinbold Racing, Chevrolet
Indy 500 Betting Picks
Alex Palou +650
I know that picking the pole-sitter to win is not going out on a limb, but Palou was great in qualifying and he has been in the Top 10 in all five IndyCar races this year, including a win at the Indianapolis Motor Speedway’s road course. He has also done well in the Indy 500 with top 10 finishes in his last two appearances.
Rinus Veekay +1350
Veekay finished second behind Palou in qualifying. Veekay has been a driver who gets the most out of his speed, as normally he doesn’t qualify that well and finds a way to improve his starting position. He won’t have to worry about that this time around, as he will start right behind Palou.
Will Power +1400
We know that Power can move up through the field and he will have to do that to win on Sunday. He has moved up in three of his five races this season, including two jumps into the top six. Power has seven top 10 finishes in this race, including a win in 2018.
Ryan Hunter-Reay +5000
I have to throw one big longshot in here and go with Hunter-Reay. He is returning to Indy after missing last year. He won the 2014 race and easily could have won more. He is now competing with Dreyer & Reinbold Racing. I give Hunter-Reay a chance to be a factor on Sunday.
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