2026 Indy 500 Odds: Pole-sitter Alex Palou Favored, Pato O’Ward Second

When Alex Palou takes the track for the 110th Running of the Indianapolis 500, he’ll do so as the reigning champion of both INDYCAR and of the Indy 500. And based on how the 2026 INDYCAR season is unfolding, Indianapolis could be kind to Palou for the second consecutive year. He’s already won three races so far this season and sits atop the points standings. Now the pole-sitter is the favorite to repeat at the “Greatest Spectacle in Racing.” Will he keep his foot on the gas when the series goes to the Brickyard for the Indy 500 on Sunday, May 24? Remember, you can watch the Indy 500 pre-race and race broadcasts on FOX and stream on FOX One with coverage beginning at 10 a.m. ET. Now, let’s take a look at the odds at DraftKings Sportsbook as of May 24, along with expert insight from FOX Sports Motorsports Insider Bob Pockrass. This page may contain affiliate links to legal sports betting partners. If you sign up or place a wager, FOX Sports may be compensated. Read more about Sports Betting on FOX Sports. 2026 INDIANAPOLIS 500 Alex Palou: 14/5 (bet $10 to win $38 total)Pato O’Ward: 6/1 (bet $10 to win $70 total)David Malukas: 13/2 (bet $10 to win $75 total)Conor Daly: 15/2 (bet $10 to win $85 total)Josef Newgarden: 17/2 (bet $10 to win $195 total)Scott McLaughlin: 11/1 (bet $10 to win $120 total)Santino Ferrucci: 11/1 (bet $10 to win $120 total)Alexander Rossi: 11/1 (bet $10 to win $120 total)Felix Rosenqvist: 14/1 (bet $10 to win $150 total)Scott Dixon: 16/1 (bet $10 to win $170 total)Christian Rasmussen: 20/1 (bet $10 to win $210 total)Takuma Sato: 25/1 (bet $10 to win $260 total)Helio Castroneves: 25/1 (bet $10 to win $260 total)Kyle Kirkwood: 30/1 (bet $10 to win $310 total)Rinus Veekay: 40/1 (bet $10 to win $410 total)Marcus Ericsson: 40/1 (bet $10 to win $410 total)Kyffin Simpson: 40/1 (bet $10 to win $410 total)Christian Lundgaard: 40/1 (bet $10 to win $410 total)Will Power: 45/1 (bet $10 to win $460 total)Ed Carpenter: 50/1 (bet $10 to win $510 total)Ryan Hunter-Reay: 60/1 (bet $10 to win $610 total)Marcus Armstrong: 60/1 (bet $10 to win $610 total)Caio Collett: 60/1 (bet $10 to win $610 total)Louis Foster: 80/1 (bet $10 to win $810 total)Graham Rahal: 80/1 (bet $10 to win $810 total)Romain Grosjean: 100/1 (bet $10 to win $1,010 total)Nolan Siegel: 100/1 (bet $10 to win $1,010 total)Mick Schumacher: 100/1 (bet $10 to win $1,010 total)Sting Ray Robb: 150/1 (bet $10 to win $1,510 total)Jack Harvey: 150/1 (bet $10 to win $1,510 total)Dennis Hauger: 150/1 (bet $10 to win $1,510 total)Jacob Abel: 200/1 (bet $10 to win $2,010 total)Katherine Legge: 300/1 (bet $10 to win $3,010 total) Check out the expert insight from FOX Sports Motorsports Insider Bob Pockrass: For my Indy 500 picks, I’ve divided them into different groups — full-time drivers, those who are not in full-time rides and then those whose odds are exceptionally long (odds below as of April 27). Full-time Drivers Alex Palou9/2 (bet $10 to win $55 total) Palou is going to be hard to beat. He is hard to beat at every race. At every track. And the Chip Ganassi Racing driver broke any Indy 500 angst last year with the victory. Josef Newgarden11/2 (bet $10 to win $65 total) But it’s also hard to ignore Newgarden, who’s second on the outright winner oddsboard. Yes, there has to be a smidgen of doubt after everything that has seemed to go wrong for Team Penske over the last couple of years. But he won the last two ovals at Nashville and Phoenix. And while there’s no oval like Indianapolis, the two-time Indy 500 winner knows how to capitalize in this race. He’d be my pick, at least before we see cars on the track. Pato O’Ward13/1 (bet $10 to win $75 total) The sentimental favorite will be Pato O’Ward. Yes, he’s had his heart ripped out by the Indy 500. And O’Ward grabs his heart, puts it back in his chest and loves the Indianapolis Motor Speedway all over again. If there is anyone who can learn from the past and put those lessons into action, it’s O’Ward. If you are looking for a win, place, show, my three would be Newgarden, O’Ward and Palou in that order. Drivers Without Full-time Rides Ryan Hunter-Reay25/1 (bet $10 to win $260 total) Ryan Hunter-Reay was in position to seriously challenge for the win last year, and it was with part-time team Dreyer & Reinbold Racing. This year, driving for Arrow McLaren, he’s going to be a threat, and it won’t be a surprise. Long Shot Kyffin Simpson 100/1 (bet $10 to win $1,010 total) And how about drivers with exceptionally long odds? Well, if you had to, maybe sprinkle a little on Kyffin Simpson because he drives for Ganassi. He was fourth in Nashville last year, so he has shown some strength at a relatively fast oval.