Scott Dixon is favored to win the 2022 Indy 500 on Sunday, May 29 on NBC. Dixon will start on the pole for the fourth time, but he has managed just one previous Indy 500 win. Helio Castroneves is the defending Indy 500 champion and a four-time winner of the race, but he is listed as a longshot to win this year’s race, as Castroneves will start from row 9. Dixon is listed as the solid favorite to win this year’s race at odds of +550, while Alex Palou is the second choice at odds of +600 and Patricio O’Ward is listed at +900. Let’s look at Sunday’s Indianapolis 500, Indy 500 odds, the field and Indy 500 picks.
2022 Indianapolis 500 Betting Odds
Scott Dixon +550
Alex Palou +600
Patricio O'Ward +900
Rinus Veekay +1100
Josef Newgarden +1200
Will Power +1400
Colton Herta +1500
Jimmie Johnson +1600
Scott McLaughlin +1600
Ed Carpenter +1800
Marcus Ericsson +1800
Takuma Sato +1800
Tony Kanaan +2000
Felix Rosenqvist +2000
Simon Pagenaud +2500
Alexander Rossi +2500
Helio Castroneves +2800
Graham Rahal +3000
Romain Grosjean +3000
Kyle Kirkwood +5000
David Malukas +5000
Marco Andretti +5000
Conor Daly +5000
Santino Ferrucci +6000
Devlin Defrancesco +7000
Christian Lundgaard +7500
Juan Pablo Montoya +8000
Jack Harvey +8000
All other drivers are listed at odds of +10000 or more.
Top Contenders
There are three drivers listed at odds of less than 10-1. Dixon is the obvious favorite since he starts on the pole, but it is definitely concerning that he has failed multiple times in the past, despite starting on the pole. Palou is starting on the outside of the front row and he is the defending IndyCar champion, so his odds also make some sense. The interesting driver in terms of the odds is O’Ward who is listed at +900. He is getting a lot of respect, even though he starts in row 3.
Just outside the top three are Veekay, Newgarden, Power and Herta. Veekay finished eighth in this race a year ago. Newgarden has finished in the top five a total of three times. Power is a former winner, while Herta is still getting respect in Indy 500 odds, despite starting in row 9.
Live Longshots
You can make a case for a number of drivers who are listed at odds of +1600 or more. Jimmie Johnson is the big name since he is a former NASCAR champion, but he has yet to show he can win in IndyCar and is overvalued at odds of +1600. There is more value in Sato who is a two-time Indy 500 winner. He starts from 10th and he can move up. It is going to be very difficult to pass on Sunday, so I think you can throw out any driver starting in the last three rows. Perhaps you have to go even farther and throw out any driver starting from row 7 and back. Drivers in the first six rows that have longshot odds that could be appealing are Simon Pagenaud at odds of +2500 and Roman Grosjean at odds of +3000.
Indy 500 Picks
It is easy to make a case for Dixon who is on the pole, but I think there is more value in Palou who is the reigning IndyCar champion. I’ll take Palou as my top choice at odds of +600. I don’t think there is a ton of value in any of the longshots, but there is at least some value in taking Sato at odds of +1800.
2022 Indianapolis 500 Field
Starting Position, (Car Number), Driver, Team, Engine, Qualifying Speed
Row 1
1. (9) Scott Dixon, Honda, Chip Ganassi Racing, 234.046
2. (10) Alex Palou, Honda, Chip Ganassi Racing, 233.499
3. (21) Rinus VeeKay, Chevrolet, Ed Carpenter Racing, 233.385
Row 2
4. (33) Ed Carpenter, Chevrolet, Ed Carpenter Racing, 233.080
5. (8) Marcus Ericsson, Honda, Chip Ganassi Racing, 232.764
6. (1) Tony Kanaan, Honda, Chip Ganassi Racing, 232.372
Row 3
7. (5) Pato O'Ward, Chevrolet, Arrow McLaren SP, 232.705
8. (7) Felix Rosenqvist, Chevrolet, Arrow McLaren SP, 232.182
9. (28) Romain Grosjean, Honda, Andretti Autosport, 231.999
Row 4
10. (51) Takuma Sato, Honda, Dale Coyne Racing with RWR, 231.670
11. (12) Will Power, Chevrolet, Team Penske, 231.534
12. (48) Jimmie Johnson, Honda, Chip Ganassi Racing, 231.264
Row 5
13. (18) David Malukas, Honda, Dale Coyne Racing with HMD, 231.607
14. (2) Josef Newgarden, Chevrolet, Team Penske, 231.580
15. (23) Santino Ferrucci, Chevrolet, Dreyer & Reinbold Racing, 231.508
Row 6
16. (60) Simon Pagenaud, Honda, Meyer Shank Racing, 231.275
17. (11) JR Hildebrand, Chevrolet, A.J. Foyt Racing, 231.112
18. (20) Conor Daly, Chevrolet, Ed Carpenter Racing, 230.999
Row 7
19. (77) Callum Ilott, Chevrolet, Juncos Hollinger Racing, 230.916
20. (27) Alexander Rossi, Honda, Andretti Autosport, 230.812
21. (15) Graham Rahal, Honda, Rahal Letterman Lanigan Racing, 230.766
Row 8
22. (24) Sage Karam, Chevrolet, Dreyer & Reinbold, 230.464
23. (98) Marco Andretti, Honda, Andretti Herta Autosport, 230.345
24. (29) Devlin DeFrancesco, Honda, Andretti Steinbrenner Autosport, 230.326
Row 9
25. (26) Colton Herta, Honda, Andretti Autosport, 230.235
26. (3) Scott McLaughlin, Chevrolet, Team Penske, 230.154
27. (06) Helio Castroneves, Honda, Meyer Shank Racing, 229.630
Row 10
28. (14) Kyle Kirkwood, Chevrolet, A.J. Foyt Racing, 229.406
29. (4) Dalton Kellett, Chevrolet, A.J. Foyt Racing, 228.916
30. (6) Juan Pablo Montoya, Chevrolet, Arrow McLaren SP, 228.622
Row 11
31. (30) Christian Lungaard, Honda, Rahal Letterman Lanigan Racing, 227.053
32. (45) Jack Harvey, Honda, Rahal Letterman Lanigan Racing, 226.851
33. (25) Stefan Wilson, Chevrolet, DragonSpeed/Cusick Racing, no speed
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