The Indianapolis 500, a historic race run every year around Memorial Day since 1911, is coming up. Want the scoop on the best Indy 500 betting? We’ll lay it out for you – where to go, how to bet, and which sportsbooks offer the best promotions and bonuses to get an extra edge on your Indy 500 odds.
Indianapolis 500 Winning Odds
Here are some up-to-date odds for your favorite drivers:
Indy 500 Betting Promos
| Sportsbook | Indy 500 Betting: Current Promotions | Place Your Bets |
|---|---|---|
| DraftKings Sportsbook | Up to $1,000 Sign-up Bonus | Go to DraftKings >>* |
| BetRivers PA | 100% deposit bonus, up to $250 | Use Code: PAMAXSPORT |
| BetRivers IN, CO & IL | 100% deposit bonus, up to $250 | Use Code: 250MATCH |
| Unibet | $20 FREE + $250 Risk-Free Bet | No Code, Use Links >> Unibet NJ/Unibet PA |
| PointsBet | Deposit $50 & Bet With $150 | Use Code: MAXBONUS |
| BetMGM | $100 in Free Bets | Use Code: BETNJ500 |
| | Last Verified | September 2020 |
| T&Cs Apply, 21+. | |
Gambling problem? Call 1-800-GAMBLER (NJ/WV/PA), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO) or 1-800-BETS OFF (IA).
Indy 500 Fast Facts
- Date: Sunday, August 23, 2020
- Time: 12:30 PM Eastern
- Track: Indianapolis Motor Speedway in Speedway, Indiana
- Distance: 500 miles (approx. 200 laps around the track)
- Race series: Indy Car
- Defending champion: Simon Pagenaud
Where to go for Indy Betting
Our pick for the best Indy 500 betting has to be BetRivers. With the best bonus offer of all the sportsbooks we’ve reviewed, BetRivers has an easy-to-navigate interface.
UP TO $250 BETTING BONUS
Bet in
PA
PAMAXSPORT
Use code at the online sportsbook in PA to get up to $250 bonus cash on your first deposit. Please read the offer terms in full. If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER.
And your Indy 500 odds are clearly displayed, with both betting and cashing out a cinch. Below, you’ll get 100% up to $250 matched on your first deposit when you follow the link, so check out BetRivers for your Indy 500 betting needs.
Indy 500 Favored To Win
Will Power is the man to beat this year, remember his 2019 win? However, Will Power is closely followed by Alexander Rossi, Josef Newarden, and defending race winner Simon Pagenaud, each listed at a +800 average when looking at most sportsbooks.
How to Bet on the Indy 500
If you’re a newcomer to sports betting in general, don’t worry! First, we’ll give you all the info you need to get your Indy 500 bets placed with someone trustworthy. Then, we’re going to teach you how to place a bet in case you’re unfamiliar with the process. As stated, the Indianapolis 500 is a historic and celebrated race.
Hopefully, you’ve been keeping your eye on underdog drivers so you can make the best of the handicaps. Plus, if you’re a seasoned bettor and a fan of the Indy 500, we’re going to outline the best bonuses and promotions.
Betting on Indy 500 Winners
Betting on the winner is easy, right? Just pick your favorite to win and cross your fingers! Well, it isn’t that simple, especially when it comes to betting on the Indy 500 lineups. You’re going to want to keep an eye on the odds for your favorite Indy 500 driver at each sportsbook. This will help you figure out who is going to give you the best odds before you make your bet.
Remember, your odds will be different on every site. Some sportsbook websites tend to favor one driver over another for a myriad of reasons. A such, it’s in your best interest to bet against the tide of public opinion.
Indianapolis 500 Bet Matchups
Matchups are where the sportsbook gives you a group of 2 or more drivers, and you choose which among them is going to win. For the Indy 500 bets, this gives you a bit more complexity but can improve your odds quite a bit, so it’s not a bad bet to try, provided you’re familiar with the drivers and know who has the competitive edge among them.
Indy 500 Podium Bets (Top 3)
Podium bets are a bit easier to figure, because you choose a driver, and you win if they place anywhere in the top three. However, because they’re easier to figure, more people tend to make this kind of Indy 500 bet which can affect your odds.
Also, check your driver’s race performance within the Indy race itself and don’t be distracted by poor performance elsewhere. Drivers tend to race the Indianapolis 500 better than any other race.
Prop Bets on Indy 500
In a prop bet, you’re not betting on who is going to win but other facets of the race and its conditions. If a car Did Not Finish, if the winner is a Brazilian or a Canadian or from the UK, how many laps will driver X lead, and other factors decided by the sportsbook.
Indy 500 Futures Bets
When you’re betting on Indianapolis 500 futures, you’re betting on the winner weeks or months in advance. Definitely not for those who are just getting started.
If you want to learn more about futures betting, there are some great resources, but it’s not the simplest way to get into Indy 500 betting, as you commit yourself to odds that change again and again before the race is actually driven.
Live Betting on the Indy 500
Indy 500 Live Betting is probably the most fun way to bet on your favorite race! It’s fast and live, which means you’re going to be making bets on race events and conditions as the race is going on. Bet on whether your favorite driver will take the lead in the next few laps, if they’ll get disabled, and more!
Indy 500 History
The Indianapolis 500 has been held almost every year since 1911. The race features an oval track and open-wheel, open-cockpit type cars, known as IndyCars.
Similar to an F1 car, the wheels are away from the body of the vehicle (as opposed to NASCAR which uses closed-wheel vehicles), and the place where the driver sits (the “cockpit”) is open. This body style makes Indy cars blisteringly fast on the straight away, but they handle turns a bit poorly as far as motorsports go. Why not get in on the fun?
Final Thoughts
When you’re looking for the best place to make an Indy 500 bet, look no further than SugarHouse. They offer great deposit bonuses and have some of the best customer service around, plus their interface does a great job of keeping you informed on what types of bet you are making and what the odds are surrounding that bet.
Play responsibly and make sure you’re having fun, and you’ll enjoy the best and most exciting race in the world (and maybe win some cash while you do it)– the Indy 500!
