Best Bets for Indy 500 Victory with Caesars Sportsbook
May 28, 2022 | By Paul Kelly
It’s a new era for the Indianapolis 500 presented by Gainbridge and Indianapolis Motor Speedway, as Caesars Sportsbook earlier this month became an Official Sports Betting Partner of the Indy 500 and IMS.
The partnership also includes the opening of the very first exclusive betting lounge at the Racing Capital of the World, located in Pagoda Plaza for Caesars Sportsbook app users. The Caesars Sportsbook Lounge will greet spectators on Race Day with an elevated viewing experience, complimentary food and drink, live entertainment and racing games to go along with branded giveaways.
So, with the help of odds posted as of midday, Saturday, May 28 on the Caesars Sportsbook app, it’s time to look at some best bets for the 106th Running of “The Greatest Spectacle in Racing,” in hopes that you can share in the thrill of victory – with winning wagers! – just as much as the driver who drinks milk in Victory Lane on Sunday afternoon.
We’ll take a look at a few good picks for overall victory, factoring in the possible payout based on the odds at Caesars.
Scott Dixon +400: The Iceman earned his fifth Indy 500 pole last Sunday and is so overdue for a victory. It’s almost inconceivable that six-time NTT INDYCAR SERIES champion Dixon’s sole win in the “500” came in 2008, when George W. Bush still lived in the White House. Sure, Dixon is the odds-on favorite to win, but a $10 bet still will deliver a $40 profit. His bad luck and close calls – Dixon has finished in the top three three times since his win – must end sometime, right? This could be the year, and betting on Dixon to win from pole is a safe, smart play.
Alex Palou +450: Another pick that borders on a no-brainer. Palou showed the savvy of an oval veteran by chasing Helio Castroneves all the way to the finish line last year in just his second Indy 500 start, ending up second by just .4928 of a second. He said he learned much from Castroneves’ charge to victory, so if the pupil picks up on those lessons quickly, it wouldn’t be the slightest shock to see Palou become the first Spaniard to drink milk in Victory Lane as an Indy 500 winner. A $10 bet would net $45 in profit.
Marcus Ericsson +1200: OK, I get it. Ericsson cut his racing teeth on road courses, including five seasons in Formula One. But betting on the Swede is a solid value play because he has been sneaky fast during the entire Month of May in one of Chip Ganassi Racing’s hot rods. Ericsson qualified fifth and was second-fastest behind teammate Tony Kanaan during the Miller Lite Carb Day final practice. I think people are sleeping on Ericsson and his potential to earn his first career oval victory at the biggest oval race of them all. A $10 bet on Ericsson would deliver $120 in profit.
Takuma Sato +1400: I think this is the second-best value play Sunday, behind only Tony Kanaan at +1600. Sato is a two-time winner of this race, in 2017 and 2020. He won it with two different teams and could win with a third team, Dale Coyne Racing, on Sunday. He has been near the top of the speed charts all month and ended up third in Miller Lite Carb Day practice. He qualified 10th. And if Sato is near the front on a late-race restart, his “no attack, no chance” style could deliver him a third win and you $140 profit on a $10 bet.
Tony Kanaan +1600: This looks like the best value bet on the board. TK knows how to race at Indy, as he has 11 top-10 finishes in his 20 starts, including his victory in 2013. This year may be his best chance to win since that magical day in May nine years ago, as his car has been a rocket ship all month. Kanaan is starting sixth, where winners have emerged five times in the history of the race. He also was fastest in race trim during the Miller Lite Carb Day practice Friday, so nobody should be surprised if Kanaan rolls into Victory Lane Sunday afternoon as the third-oldest winner in the race’s storied history. At 47, TK is showing no signs of slowing. And he just might turn your $10 bet into a $160 profit.
Will Power +1700: Team Penske has won a record 18 Indianapolis 500s but is winless since 2019. Power earned his first “500” win the year before for Penske, and he’s a very solid value play at these odds. Team Penske has soldiered through a quiet Month of May, but Power was the top-qualifying driver for the team’s three-car lineup, starting 11th. He was sixth fastest in race trim during the Miller Lite Carb Day practice. Power also has shown a new level of consistency and patience in the first five races of the NTT INDYCAR SERIES season, which could benefit him in traffic and while tweaking his car during pit stops to be ready for the final dash to the checkered. A $10 bet on Power will cash a cool $170 profit.
Juan Pablo Montoya +8000: This is a longshot, no doubt. But Montoya has won this race twice, in 2000 and 2015, with two different teams and could become a three-time winner with a third team, Arrow McLaren SP. History also isn’t on JPM’s side, as he’s starting 30th. No driver ever has won “The Greatest Spectacle in Racing” from that far back in the field. But Montoya said during practice that he was happy with the handling of his car in race trim, and he could steadily sneak his way toward the front in the closing laps. At an $800 payout for a $10 bet, why not?
Stefan Wilson +50000: The tallest driver in the field also has the longest odds. It’s understandable, as he is starting 33rd for a team, DragonSpeed/Cusick Motorsports,that just announced its entry earlier this month. Sure, this bet is the race’s version of a Powerball number. But if Stretch pulled off the most improbable victory in the 106 editions of the race, even a $1 bet would return a $500 profit. A dollar and a dream, baby!
Caesars Sportsbook also is offering Games bets, featuring a variety of drivers in head-to-head matchups based on their finishing positions. Check the Caesars app for some fun plays in that market, hopefully adding more wins to your day with “The Greatest Spectacle in Racing.”
Don’t forget the fantastic promotion Caesars is offering to new customers in celebration of the 106th running of the Indy 500: Download the Caesars Sportsbook app and make a first-time deposit of $20 to receive $106 in free bets, along with entry into the Caesars Sportsbook Lounge at Pagoda Plaza. Sprinkle those free bets on your favorite driver and drivers, and good luck!
Eligible sports fans can download the Caesars Sportsbook app on iOS or Android andearn Tier Credits and Reward Credits with every bet they place redeemable for exclusive benefits and member rates at all Caesars destinations along with once-in-a-lifetime experiences through the Caesars portfolio of resorts and partnerships.