2025 Indy 500 Odds, Predictions, and Start Time

The Greatest Spectacle in Racing returns this Memorial Day Weekend, and it’s shaping up to be one of the most competitive Indy 500s in recent memory. Whether you’re betting on a pole-sitter or hoping your longshot hits the bricks first, there’s value to be found all over the board.

Before we dive into the odds, make sure you check out our Expert Betting Guide for more sharp insights into motorsports and beyond.

With that said, let’s take a look at the latest Indianapolis 500 odds, courtesy of the top sports betting sites, and make our Indianapolis 500 predictions.

Indy 500 Race Profile

The Indianapolis Motor Speedway (IMS) first opened in 1909. Since 1911, this iconic venue has held the Indianapolis 500. The race itself has become a staple in pop culture as the most notable racing event in the world. Additionally, it’s been a part of many films and TV shows over the last few decades.

For the Indy 500, and NASCAR races as well, drivers will compete on the rectangular oval track per tradition. This historic road course has four turns of 9.2 degrees in banking, a lap distance of 2.5 miles, and is paved in asphalt. However, the start and finish line are made of brick.

Sunday’s Indy 500 breaks down as follows:

• Total Miles: 500 miles
• Total Laps: 200 laps

The 2025 Indianapolis 500 can be seen in its entirety, beginning at 12:45 pm ET, live on FOX. Legendary racers Tony Stewart and Danica Patrick will join the race broadcast.

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When Is The Indianapolis 500?

The 2025 Indianapolis 500 takes place on Sunday, May 25, with the green flag set to wave at 12:45 pm ET.

Indy 500 Cheating: Team Penske Controversy

Despite his back-to-back wins, Newgarden will face a massive challenge in 2025 after being dropped to the 32nd starting spot due to a penalty handed down to Team Penske. Newgarden and teammate Will Power were both penalized for violations during qualifying, including the use of an illegal aerodynamic device that enhanced their performance. Each team was fined $100,000 and had their strategist and engineers suspended.

The fallout has rocked the paddock just days before the green flag. Newgarden, aiming for a historic third straight win, was visibly frustrated during Sunday’s practice. Power will start dead last in 33rd.

The controversy has added a dramatic wrinkle to this year’s race—and for bettors, it opens the door to potential chaos in the field.

Indianapolis 500 Schedule

The following is a look at the 2025 Indianapolis 500 schedule:

Saturday, May 17: Qualifying Day 1

• 11 am – 5:50 pm ET

Sunday, May 18: Qualifying Day 2

• 4 pm – 6 pm ET

Friday, May 23 – Miller Lite Carb Day

• Final Practice: 11 am – 1 pm ET
• Pit Stop Challenge: 2:30 pm – 4 pm ET

Sunday, May 25

• Pre-Race: 10 am ET
• National Anthem: 12:20 pm ET
• Race: 12:45 pm ET

Who Won The Indianapolis 500 Last Year?

In 2024, American Josef Newgarden defended his crown, winning his second consecutive Indy 500 in thrilling fashion. Newgarden is the only American to win the event since Alexander Rossi took it home back in 2016. If he wins again this year, Newgarden will become the first driver in history to win the Indy 500 in 3 consecutive years.

Indy 500 Odds

Here’s a quick look at the latest 2025 Indy 500 betting odds:

Pato O’Ward and Alex Palou lead the board, but there’s not much separating the top seven contenders. With so many experienced drivers sitting below +1000, this year’s race offers tight margins and high drama.

Need help sorting through the options? Our Best Handicappers can help you break down the numbers like a pro.

Indy 500 Favorites

The following drivers are considered to be the odds-on favorites to win the 2025 Indianapolis 500:

Pato O’Ward (+500)

Pato O’Ward is no stranger to heartbreak at the Brickyard—but that pain may finally pay off. The Arrow McLaren driver has finished 2nd twice in the last three years (2022, 2024), both times coming agonizingly close to victory. In 2024, he was just a single Turn 3 miscue away from stealing the race from Newgarden. Now, with Newgarden pushed to the back of the grid due to a penalty, O’Ward’s path to the top spot looks a lot clearer.

O’Ward is starting from the outside of the front row, a prime position at Indy where several winners have launched their runs. He qualified at 232.098 mph, putting him right in the mix off the green flag. Known for his bold driving style—what he calls a “no attack, no chance” mentality—O’Ward is tailor-made for high-stakes moments. This isn’t a driver who plays it safe. This is someone who will dive inside at Turn 1 if he sees daylight and let the rest of the field react.

The stats also make a compelling case: O’Ward has five Indy 500 starts under his belt with finishes of 2nd, 2nd, 4th, and 6th in his last four tries. That level of consistency in such a chaotic race is no fluke—it’s proof that he understands how to manage 500 miles and still have the speed to contend in the final 20 laps. It’s not just that he’s “due.” It’s that he’s already proven he belongs on the top step of the podium.

If the narrative wasn’t compelling enough, the numbers are just as bullish. At +500, he’s the betting favorite, and for good reason. With a fast car, a favorable grid position, and a chip on his shoulder after finishing runner-up twice, this might finally be the year Pato O’Ward trades in frustration for a bottle of milk.

Alex Palou (+550)

Alex Palou might be the best IndyCar driver yet to win the 500, but that could change this Sunday. The 2021 series champion has quietly assembled one of the best resumes in modern IndyCar, and now he returns to the Brickyard in top form. Palou leads the 2025 season in points and has been one of the fastest cars at the speedway all month, including a qualifying speed of over 232 mph that earned him a front-row start.

Palou’s past Indy 500 results suggest he’s more than capable of sealing the deal. He finished 2nd in 2021, was in contention in 2022 until a pit road incident shuffled him back, and took 5th in 2024—all while racing for Chip Ganassi, a team with serious pedigree at this track. This isn’t just a fast car; it’s a team that knows how to build a race-winning Indy machine, and Palou has proven he knows how to drive one.

There’s also the age factor. Of the last 16 Indy 500 winners, 15 were under 32 years old. Palou is 27, in the exact sweet spot for Indy success. He’s got the raw speed, the discipline to stay out of trouble, and enough heartbreak in previous runs to stay hungry. He’s not rattled by the spotlight, and his calm, calculated style could be exactly what’s needed if the race turns tactical.

He enters at +550 odds—not quite the top betting favorite, but close—and possibly undervalued considering his form. If Pato is the flashy pick, Palou is the sharp one. He’s starting second, has a car that’s been dominant in practice, and has come heartbreakingly close before. This could be the year he checks the final box on his IndyCar resume.

Scott Dixon (+650)

Scott Dixon isn’t just one of the greatest drivers in IndyCar history—he’s one of the most consistent threats at the Indianapolis 500 year after year. With six career series championships and a whopping 27 Indy 500 starts, Dixon brings experience to the grid that no one else can match. He won the 2008 Indy 500 and has added five more top-six finishes since then. Simply put, Dixon knows how to survive the 500 miles and give himself a chance at the end.

In 2025, he enters the race ranked 6th in the IndyCar standings, coming off a solid early-season stretch that includes a 2nd-place finish in St. Petersburg and top-10s in three other races. His 5th-place run in the Indy GP on May 10 showed that the speed is still there. While he hasn’t led many laps this season, he’s qualified and raced consistently well, exactly the kind of performance that translates over 200 laps at IMS.

What separates Dixon from other veterans is his ability to avoid disaster. The Indy 500 is chaos for most, but for Dixon, it’s a master class in patience, fuel strategy, and composure. His all-time career lap count at the 500 is second only to Helio Castroneves. And with a field full of rookies and mid-pack surprises this year, Dixon’s calm hand could be the difference when others falter. He also fits a key trend—drivers who win the 500 typically start in the front half of the grid and have plenty of experience. Check and check.

At +650, Dixon offers a perfect balance of upside and value. He’s got the pedigree, the equipment (Ganassi has been lights out all month), and the know-how to win this thing again. He may be 44, but in IndyCar, wisdom matters. Dixon has more of it than anyone else in the field.

Robert Shwartzman (+750)

Robert Shwartzman is a rookie who’s never raced on an oval—and he’s starting from pole position at the Indianapolis 500. That’s not a typo, this guy is the real deal. The 25-year-old Israeli-Russian driver put his Prema Racing car at the front of the grid in one of the wildest qualifying weekends in recent memory. Not since Teo Fabi in 1983 has a rookie won pole at Indy. It’s a feat made more impressive by the fact that this is also Prema’s first time entering the Indy 500.

Shwartzman’s path here has been anything but conventional. A former Formula 2 ace and Ferrari development driver, he’s spent most of his racing life in Europe. But after switching allegiance to the Israeli flag post-Ukraine conflict, he signed with Prema for a two-year North American run, and now finds himself on the biggest stage in American open-wheel racing. Not bad for someone who wasn’t even confirmed for the full IndyCar season until recently.

Sure, he’s still finding his footing—he’s ranked just 24th in the IndyCar standings and hasn’t cracked the top 10 in any of his first five races. But none of that mattered during qualifying, when he strung together a blistering four-lap run north of 233 mph.

At +750, Shwartzman offers both upside and mystery. Can he hold up over 500 miles on a surface he’s never raced in competition? Will Prema’s car stay reliable over the long haul? There’s a lot we don’t know—but what we do know is that he’s already made history once this week. If he keeps his nose clean through the first half of the race, don’t be surprised if he becomes a bigger story with every lap. At Indy, sometimes the best script is the one nobody saw coming.

Takuma Sato (+900)

At 48 years old, Takuma Sato may be one of the oldest drivers in the field, but he’s also one of the most dangerous at Indianapolis. The Tokyo-born veteran already has two Indy 500 wins under his belt (2017, 2020) and continues to show he’s more than capable of adding a third. This year, he’s starting second on the grid after qualifying at 232.478 mph—his best starting spot since he won from 3rd in 2020.

Sato is the definition of Indy-experienced. Sunday will mark his 17th Indy 500 start, and in addition to his wins, he’s notched top-10 finishes in six different editions, including a 3rd-place finish in 2019 and 7th just last year in 2023. He knows every inch of this racetrack and isn’t afraid to be aggressive late in the race. If this thing turns into a fuel mileage chess match or a sprint over the last 20 laps, Sato’s savvy will matter.

While most drivers his age have long since retired, Sato keeps hanging around—and keeps getting results. Racing for Rahal Letterman Lanigan, he’s part of a team with plenty of Indy pedigree. And while the younger guys might have the flash, none of them have the experience Sato brings into Turn 1 when the pressure’s at its highest. His cool under fire has already delivered twice, and 2025 could complete the trilogy.

At +900, Sato sits just outside the top five favorites on the odds board—but don’t let that number fool you. He’s got the starting position, the resume, and the nerve to take the fight to anyone. A third Indy 500 victory would put him alongside legends like Wilbur Shaw and Mauri Rose—and he just might have the car to do it.

The Best Indy 500 Betting Value

The following drivers are my picks for the best betting value in the Indy 500 based on their previous success at the Indianapolis Motor Speedway:

Felix Rosenqvist (+1200)

Felix Rosenqvist is flying under the radar this week, but don’t count him out. The 33-year-old Swede is making his seventh Indy 500 start and quietly enters with one of the better all-around setups in the field. Driving for Meyer Shank Racing, Rosenqvist qualified 5th with a four-lap average of 231.987 mph—his best grid position since debuting at the Brickyard in 2019. Starting from the second row gives him the track position to make an early move and stay in clean air.

While his overall Indy 500 results have been hit or miss, the ceiling is there. His best finish was 4th in 2022, where he ran near the front most of the day and avoided the chaos that took out others. He’s been snakebitten a few times—finishing outside the top 25 three times—but a lot of that came from poor starting positions or late-race misfortune. This year, with better track position and a car that’s looked fast in practice, he’s in one of his best spots yet.

It also helps that Rosenqvist has momentum. He’s had some solid showings this season, including a 3rd-place result at Thermal and a 4th-place finish at Alabama. Though he hasn’t won at Indy yet, he’s already won an IndyCar Series race (at Elkhart Lake in 2020) and knows what it takes to close. He’s also paired with a team that’s done this before—Meyer Shank won the 500 with Helio Castroneves in 2021.

At +1200, Rosenqvist is priced in the value tier—and that’s a sweet spot for bettors looking for proven upside without diving into longshot territory. He’s got the car, the starting spot, and the experience. If things break his way, he could be the one drinking milk on Sunday afternoon.

Kyle Larson (+1800)

Kyle Larson is back at the Brickyard for year two of “The Double,” taking on the Indianapolis 500 and the Coca-Cola 600 on the same day. While last year’s debut didn’t go as planned—he finished 18th at Indy and never raced a lap at Charlotte due to weather—this time he returns wiser, faster, and more prepared. He’ll start 19th on Sunday after a shaky qualifying run, but his team at Arrow McLaren is confident they’ve got the car and strategy to make up ground quickly.

Larson has been adjusting to the unique challenges of open-wheel racing. From hybrid push-to-pass systems to the precise demands of car setups and cockpit adjustments, IndyCar offers a drastically different feel from NASCAR.

But Larson has leaned into the learning curve. He’s now more familiar with the steering systems, pit procedures, and overall race flow, which should help smooth out the rookie mistakes that plagued him in 2024. This year, he knows what to expect—and how to respond when things get chaotic.

Though he doesn’t come into the race with much IndyCar success, Larson’s NASCAR résumé speaks for itself. He leads the Cup Series in total points with three wins, eight top-five finishes, and nine top-10s already in 2025.

That kind of form, confidence, and mental sharpness translates well across formats. Larson is the only Cup driver attempting the 500 this year, and his stamina and focus will be tested across all 1,100 miles. He’s got the skillset to manage both the strategy and the intensity required to contend late in the race.

At +1800, Larson sits in longshot territory, but the upside is real. He has elite car control, a high-performing team behind him, and the mentality to take big swings on big stages. If he stays clean and gets into rhythm by the midpoint of the race, don’t be surprised if Larson’s name is in the mix over the final 50 laps. He’s already conquered just about every other racing discipline. Indy would be a fitting new jewel in his racing crown.

The Top Indy 500 Longshot

Few names are as synonymous with the Indianapolis 500 as Ed Carpenter (+6000). The Indianapolis native and team owner is back for his 22nd start at the Brickyard, still chasing the elusive dream of winning it all. Over the years, Carpenter has put together an impressive record—six top-10 finishes, including a career-best runner-up result in 2018—and he’s long been regarded as one of the strongest oval drivers in the field.

Carpenter’s 2025 campaign brings him back to the race with more than just sentimental value. He’ll start 14th on the grid after posting a four-lap average of 231.633 mph, putting him in prime position to move up early and stay in the lead pack. While he hasn’t raced a full IndyCar season in years, Carpenter has made it a tradition to return for Indy—and every time he shows up, he’s competitive. His understanding of the track, from tire degradation to wind shifts in Turn 2, is second to none.

While recent results haven’t been flashy—finishes of 17th, 20th, and 19th the past three years—Carpenter’s past pole positions in 2013, 2014, and 2018 are a reminder that he knows how to extract speed when it matters most. He also benefits from running his own team, giving him the freedom to tailor setups exactly to his liking. At 44, he has the experience to avoid trouble, and his veteran savvy could be a major asset if late cautions shake up the field.

Carpenter comes in as a longshot at +6000, but that price tag might not reflect his true upside. He’s been close before and knows exactly what it takes to get to the front. If the race breaks right and he finds himself in the lead group with 10 laps to go, no one will be questioning whether he belongs there. This could be the feel-good story of the weekend—and maybe the moment Ed Carpenter finally conquers the Speedway he calls home.

Indianapolis 500 Predictions

After weighing all the data, Pato O’Ward (+500) stands out as the sharpest bet to win the 2025 Indy 500. He’s starting on the front row, driving for a top-tier Arrow McLaren team, and comes into the race with arguably the most consistent Indy 500 résumé of any active driver without a win.

With back-to-back runner-up finishes in 2022 and 2024, O’Ward has already proven he can handle the chaos of the closing laps at Indy. Now, with Josef Newgarden forced to start from the back of the grid and fellow contenders like Kyle Larson and Robert Shwartzman facing question marks around inexperience or qualifying issues, O’Ward enters with both pedigree and opportunity.

What separates O’Ward from the rest is that he blends elite qualifying pace with elite late-race aggression. He hasn’t just come close—he’s dominated stretches of this race before. The Arrow McLaren cars have been strong all month, and O’Ward’s confidence is sky-high coming off a season where he’s contended nearly every week.

Unlike others in the top tier, there’s no “if” with O’Ward—it’s just a matter of execution. Among the favorites, he offers the cleanest combination of form, history, track position, and team support, making him the most complete bet on the board.

Bet: Pato O'Ward (+500)

Indianapolis 500 Winners

A.J. Foyt, Al Unser, Rick Mears, and Helio Castroneves hold the record for most Indy 500 wins with four apiece. Castroneves was the last to accomplish this mark when he won the 2021 Indy 500.

The following is a list of the most recent Indy 500 winners: