Alex Palou will lead the 33-car field to the green flag for the 110th running of the Indianapolis 500 on Sunday, May 24, 2026. And he will do so as the odds on betting favorite. The defending Indy 500 champion claimed the pole position with a four-lap qualifying average of 232.248 mph and opens race week priced at +250 odds to win the 2026 Indy 500. Below is a complete breakdown of the latest 2026 Indy 500 odds, top contenders leading the board, mid-tier drivers offering value, and longshots possibly worth a sprinkle on this Memorial Day weekend.
Last Updated: Wednesday, May 20, 2026
2026 INDIANAPOLIS 500 DATE, TIME & HOW TO WATCH | |
|---|---|
| Where | Indianapolis Motor Speedway, Speedway, IN |
| When | Sunday, May 24 – 12:45 PM ET |
| TV | FOX |
Alex Palou Leads 2026 Indy 500 Odds
Palou enters the 110th running as the most dominant driver in IndyCar Series racing. He has won three of the first six races on the 2026 schedule and currently leads the championship standings by 27 points heading into Indianapolis. His pole-winning run of 232.248 mph was the fastest of the weekend by a clear margin, and Chip Ganassi Racing's No. 10 Honda has shown the kind of consistent oval pace that wins 500-mile races.
The price is short, however, for a race that historically rewards survival over speed. Palou's +250 carries an implied probability of roughly 28.6 percent, and the Indianapolis 500 has a long track record of upending the chalk. The 500 is decided across 200 laps of pit strategy, dirty air, traffic management, and clean restarts — variables that level the field once the green flag drops. Backing Palou at +250 means trusting that the fastest car in the field also executes the cleanest race-day operation. He has the profile to do it. The price simply does not offer much margin for error.
Palou is one of nine past Indy 500 winners in this year's field, but he is the only entry combining pole position, current championship momentum, and a top-tier team operation. The case for the favorite is genuine. The case against is the price tag - lots of risk for very little reward.
2026 INDIANAPOLIS 500 – TOP ODDS TO WIN | |
|---|---|
| Name | Odds |
| Alex Palou | +250 |
| Pato O'Ward | +650 |
| David Malukas | +800 |
| Alexander Rossi | +800 |
| Josef Newgarden | +900 |
| Conor Daly | +900 |
| Scott McLaughlin | +1000 |
| Santino Ferrucci | +1100 |
| Felix Rosenqvist | +1200 |
| Scott Dixon | +1600 |
Odds accurate as of Wednesday, May 20, 2026. Odds change, get the latest IndyCar Odds - Props
Betting Value Lies in The Middle at Indianapolis
The most defensible Indy 500 value typically sits between +650 and +1200, where bettors can find proven drivers with strong equipment who do not carry the defending-champion premium attached to Palou's price.
Pato O'Ward (+650) remains a perennial near-miss story at the Brickyard. The Arrow McLaren driver has finished as a runner-up at Indianapolis before and consistently puts his Chevrolet near the front of the field on race day. He crashed in Monday practice and will start in a backup car, but IndyCar rules allow him to retain his sixth-place qualifying position. The backup-car factor introduces real uncertainty, but it has historically been closer to a manageable setback than a fatal blow to win equity.
Josef Newgarden (+900) is one of the few active drivers to have won the Indianapolis 500 in back-to-back years, claiming the race in 2023 and 2024. Palou ended his three-peat bid in 2025, but Newgarden's race-day record at the Speedway remains among the strongest in the field. His current price reflects diminished early-season form more than any erosion of his 500-specific ability.
Scott McLaughlin (+1000) has steadily improved on superspeedway ovals during his Team Penske tenure. He has not yet won the 500, but he brings stable equipment, increasing oval experience, and a price that offers genuine upside relative to his car.
Longshot Indy 500 Bets and Race-Day Storylines
At +3000, Hélio Castroneves is chasing a record-breaking fifth Indianapolis 500 victory. His limited 2026 schedule explains the price, but he remains one of the most experienced 500-mile closers in the field and is a defensible sprinkle for bettors hunting ceiling.
Two-time winner Takuma Sato (2017, 2020) returns at +3000 and has historically performed well in the closing stages of the race. Kyffin Simpson, also at +3000, drives for Chip Ganassi Racing — the same operation that produced Palou's pole-winning car — and the equipment alone makes him a defensible deep play.
Several storylines outside the betting board are worth tracking on race morning. Front-row qualifier Alexander Rossi crashed in practice and will start his backup car, retaining his second-place grid position under IndyCar rules. Rookie Caio Collet and veteran Jack Harvey had their qualifying runs disallowed for unapproved car modifications and will start from positions 32 and 33 respectively. Katherine Legge will become the first woman to attempt the Indianapolis 500 / Coca-Cola 600 "Double Duty," driving the No. 11 Chevrolet at Indianapolis before flying to Charlotte for the NASCAR Cup Series race that evening.
2026 Indy 500 Betting FAQ
Who is the favorite to win the 2026 Indy 500?
Alex Palou is the consensus favorite at +250. The defending Indy 500 champion qualified on the pole with a four-lap average of 232.248 mph and leads the IndyCar Series championship standings.
When is the 2026 Indy 500?
The 110th running of the Indianapolis 500 is scheduled for Sunday, May 24, 2026, with the green flag set for 12:45 PM ET at Indianapolis Motor Speedway.
Who is on the pole for the 2026 Indy 500?
Alex Palou won the pole with a four-lap qualifying average of 232.248 mph. Alexander Rossi and David Malukas join him on the front row.
What channel is the 2026 Indy 500 on?
The 2026 Indianapolis 500 will be broadcast on FOX. Pre-race coverage begins at 10 AM ET.