2022 Indianapolis 500 Betting Odds: Scott Dixon Leads The Way After Record-Setting Pole Race

Written By Adam Hensley on May 27, 2022 - Last Updated on July 22, 2022
2022 Indianapolis 500

The Greatest Spectacle in Racing is back. The 2022 Indianapolis 500 takes place Sunday, May 29.

Scott Dixon is the early favorite to win the event, clocking in at +400 on Caesars.

Alex Palou has the second-best odds at +450. Pato O’Ward is +850 and Josef Newgarden is +1000 to win the Indy 500.

Last year, Helio Castroneves won the event. He notched a time of 2:37’19.384. Palou finished second, Simon Pagenaud placed third, and O’Ward ended in fourth.

How to watch and bet the 2022 Indianapolis 500

  • NBC’s pre-race show begins at 10 a.m.
  • Race coverage begins at 11:30 a.m.
  • Have bets placed before the green flag drops at 11:45 a.m.
  • NBC’s Peacock will stream the event. Racing fans can also stream through the NBC Sports App and NBCSports.com.

For Iowans interested in betting the 106th Indy 500, Iowa sportsbooks have you covered.

Earlier this month, Caesars Sportsbook was named the official betting partner of the Indy 500 and Indianapolis Motor Speedway. Caesars will also sponsor IMS races for the rest of the year.

If you’re betting with Caesars on the Indy 500, the sportsbook is offering up to $1,100 first bet insurance.

Indianapolis Motor Speedway President J. Douglas Boles said the Caesars partnership is “another reason to look forward to an epic and historic month” at IMS.

Indianapolis 500 betting odds

  • Scott Dixon: +400
  • Alex Palou: +450
  • Pato O’Ward: +850
  • Josef Newgarden: +1000
  • Rinus Veekay: +1200
  • Marcus Ericsson: +1400
  • Takuma Sato: +1400
  • Jimmie Johnson: +1600
  • Will Power: +1800
  • Colton Herta: +1800
  • Tony Kanaan: +1800
  • Ed Carpenter:+2200
  • Scott McLaughlin: +2200
  • Simon Pagenaud: +2500
  • Romain Grosjean: +2500
  • Helio Castroneves: +2500
  • Felix Rosenqvist: +2500
  • Alexander Rossi:+3000
  • Graham Rahal: +5000
  • David Malukas: +5000
  • Conor Daly: +5000
  • Marco Andretti: +6000
  • J.R. Hildebrand: +7500
  • Juan Pablo Montoya: +10000
  • Sage Karam: +10000
  • Jack Harvey: +12500
  • Santino Ferrucci: +12500
  • Kyle Kirkwood: +15000
  • Callum Illot: +15000
  • Christian Lundgaard: +20000
  • Devlin DeFrancesco: +25000
  • Sefan Wilson: +50000
  • Dalton Kellett:+50000

What to know about Scott Dixon, the favorite to win

Dixon is no stranger to winning the Indy 500. The New Zealand native won the event in 2008.

Dixon is a six-time NTT Indycar Series champion, most recently winning in 2020. He notched four of his Indycar Series championships in a seven-year span from 2013-2020.

Out of all the active Indycar Series drivers, Dixon leads the way with 51 wins.

Dixon made history when he broke the 25-year-old records for fastest pole speed and four-lap average in history.

What to know about the other drivers

  • Alex Palou won last year’s IndyCar Series championship. He’s the first Spaniard to win the series title.
  • Josef Newgarden most recently won the IndyCar Series championship in 2019. He’s a two-time series winner.
  • Pato O’Ward was the 2020 Indianapolis 500 Rookie of the Year. He’s a two-time IndyCar Series winner.
  • Rinus Veekay made history in 2021. He became the youngest driver ever in the Indy 500 to start from the front row. This will be his second full season in the IndyCar Series with Ed Carpenter Racing.
  • Will Power won the 2018 Indy 500. He also won the 2014 IndyCar Series. Power has been a championship runner-up four times in his racing career.

Indianapolis 500 betting history

The favorites haven’t always won the Indy 500.

Helio Castroneves won the 2021 Indy 500 with +3000 odds. Since 2010, only Dario Franchitti won the Indy 500 with odds better than +500 to start.

From 2011-2021, seven drivers with +1000 or worse odds won the event.

2022 Indianapolis 500 qualifying results

Dixon claimed his fifth pole win during the 2022 qualifying race. It also gave him back-to-back wins.

Here’s a look at the top 10 finishes during the Indy 500 qualifying:

  1. Scott Dixon
  2. Alex Palou
  3. Rinus VeeKay
  4. Ed Carpenter
  5. Marcus Ericcson
  6. Tony Kanaan
  7. Pato O’Ward
  8. Felix Rose
  9. Romain Grosjean
  10. Takuma Sato


Photo by Michael Conroy / AP
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Adam Hensley

Adam Hensley is a journalist from Des Moines, Iowa. His byline has appeared in the Associated Press, Sports Illustrated and sites within the USA Today Network. Hensley graduated from the University of Iowa in 2019 and spent his college career working for the Daily Iowan’s sports department, both as an editor and reporter.

View all posts by Adam Hensley