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The odds, picks, and projections for the 2020 Indy 500 have been released. The race takes place this Sunday, August 23. Coverage begins at 1 p.m. ET on NBC and will be streaming on the NBC Sports app.

1. Indianapolis is a popular sports town with the Colts (NFL) and Pacers (NBA) both being successful teams in the two most bet on sports leagues in the United States. The Indianapolis Motor Speedway is also the most well known automobile racetrack in the USA, hosting the Indy 500 each year.
2. The 2020 Indy 500 will take place on Sunday, August 23 (1:00 pm ET) at Indianapolis Motor Speedway in Indianapolis, Indiana; Scott Dixon has won three of the first six races this season and currently leads in the standings; Read on for a full breakdown of the odds and best bets for the race.

Indy 500 Gambling Odds

The 104th edition of the Indianapolis 500 is scheduled for August 23, 2020 in Speedway, Indiana. The 500-mile race is one of the most prestigious in all of motor sports. Together with the Monaco Grand Prix and the 24 Hours of Le Mans, it forms the Triple Crown of Motorsport.

Best Indy 500 betting sites

Indy 500 betting odds 2021

Scott Dixon is the betting favorite at the Indy 500, but a group of drivers isn’t far behind at around +800 (8/1) odds. That cluster includes Alexander Rossi, Ryan Hunter-Reay and Marco Andretti, who held off Dixon in qualifying to win the Indy 500 pole. See below for betting odds to win the 2020 Indy 500.

How to bet on the Indianapolis 500

Betting on race cars bears some similarities to horseracing. So, if you are familiar with handicapping the ponies, there will be some familiar ground here.

Pick the Winner

The first and simplest type of Indianapolis 500 wager is to pick the eventual winner. Almost every site that offers betting on motorsports will have this kind of wager available.

The odds on these types of bets are usually fairly long, even for the favorites. There are simply too many variables in motorsports that can affect the outcome of a race.

As a result, even the favorites don’t less than 6-1 odds.

Even past winners, such as Helio Castroneves and Tony Kanaan, are available at odds higher than 10:1 right now. So, there is quite a bit of variance in these kinds of situations.

Top Three Finish

Those accustomed to betting on horse races will recognize this style of betting. For all intents and purposes, betting on a top three finish is the same as a win-place-show bet on a particular horse.

Basically, this type of bet means that the bettor believes the chosen driver will finish somewhere in the top three. Given how long the odds are for any of the drivers in the field, it’s understandable that bettors would want a bit of leeway in the finishing order.

Head to Head Matchups

Head-to-head matchups essentially reduce the entire race down to two drivers. A bettor wagers on which of the two will place higher, even if those places are the last two in the field.

These matchups actually use moneylines in order to identify the favorite and underdog in each pairing. So, hypothetically, Will Power could go off at -125 to Helio Castroneves at +145..and so on.

Futures bets

Functionally, a future bet is the same as a pick the winner bet. The bettor is choosing a member of the field to win the race.

However, the difference is time. These bets often occur weeks or months before the race itself.

As a result, they are subject to far more variation due to the risk of drivers suffering injuries, setbacks, or simply falling off their game in the interim time period. So, the odds for these bets can change quite a bit as race time approaches.

Proposition bets

Finally, a proposition bet on Indianapolis 500 tends to involve some sort of gimmick or angle to the wager. In other words, the conditions of the bet may only partially pertain to the driver’s actual ability.

So, a prop bet could be something like a wager on which former champion will place the highest, or perhaps a bet on the winner’s home country. In other words, a prop bet will have an element ancillary to the actual race itself that plays a part in the wager.

Indy 500 fast facts

For those in a hurry, here is a quick guide to the upcoming race:

• Date: Sunday, August 23, 2020
• Time: 12:30 p.m. Eastern
• TV: NBC
• Easiest way to watch online: Sign into NBC.com and submit cable subscription information
• Other online viewing options: Hulu, YouTube, Fubo, DirecTV, Sling, and IMS Stream
• Track: Indianapolis Motor Speedway in Speedway, Indiana
• Distance: 500 miles (about 200 laps around the track)
• Surface: Asphalt and brick
• Race series: IndyCar
• Defending champion: Simon Pagenaud

A brief history of the Indianapolis 500

Indy 500 Betting Lines

The Indianapolis 500 ran for the first time in 1911, with Ray Harroun winning the inaugural race. Since then, both the race and the racetrack have become one of the most famous auto races in the world. The annual event is often dubbed “The Greatest Spectacle in Racing.”

The 500-mile race takes place in an open-wheel, open-cockpit format, meaning that vehicles’ tires and drivers are exposed to the open air. This format has come to be known as “Indy Car Racing,” due to its presence at this event.

The track itself is a rectangular oval nicknamed “The Brickyard” for its partial brick surfacing. Indianapolis Motor Speedway is the highest-capacity sports venue in the world, with permanent seating for over 250,000 patrons. On race day, more than 300,000 will watch the race.

As with many venerated sporting events, there are several traditions associated with the Indianapolis 500. Before each race, race officials and a designated singer lead the crowd in a rendition of “Back Home Again in Indiana.”

The winning driver traditionally drinks from a bottle of milk to celebrate his victory. Below is a list of the most recent competitors to sample dairy products at the end of the race.

Recent Indianapolis 500 winners

Indianapolis is a popular sports town with the Colts (NFL) and Pacers (NBA) both being successful teams in the two most bet on sports leagues in the United States. The Indianapolis Motor Speedway is also the most well known automobile racetrack in the USA, hosting the Indy 500 each year.

Sports betting has continued to increase in popularity among Indianapolis residents over the past decade. On this page I will try to dispel some of the myths surrounding the legality of sports betting in the state and give a couple suggestions of where to bet on sports from Indianapolis.

Is Sports Betting Legal in Indianapolis

Regulated sports betting began in Indiana on September 1st, 2020, with a few locations opening sportsbooks on that date. The Indiana Gaming Commission oversees the sports betting regulations in the state and issues licenses to sportsbook operators. You can now place bets at these regulated bookmakers who have obtained a license to operate in Indiana. Both online and in-person betting is allowed in the state.

As an Indiana resident you also have the option to bet through offshore betting sites that are licensed and regulated outside of the state of Indiana. Offshore betting sites, like the two I recommend below, continue to accept Indianapolis residents. They are relying on their reputation and experience serving US bettors to provide an alternative to the state licensed sportsbooks.

Best Sportsbooks for Indianapolis Residents

Indy 500 Gambling

• Built for American bettors
• Wide variety of competitive betting lines
• Easy to navigate betting platform

• Accepts players worldwide
• Competitive betting lines
• Fast & easy deposits and withdrawals (including Bitcoin)

These are our top rated sportsbooks for Indy residents. Both of these sites are popular across the entire country and offer a safe, secure and trusted platform to place your sports wagers. Check out the reviews of either site for a more detailed overview of their bonus, promotions, banking options and customer service.

Offline Sports Betting in Indianapolis

Winner’s Circle Sports Pub

The Winner’s Circle Race, Sports, Pub is a sportsbook in the heart of downtown Indianapolis. The Caesars Sportsbook is built into a pub environment at Winner’s Circle Indianapolis. There is a video wall and several HD televisions allowing you to watch the game while placing bets, eating food and lounging with friends.

Hoosier Park

Hoosier Park Racing & Casino is a popular horse racing track in Indiana, located about a half hour north east of Indianapolis. The track and casino is owned and operated by Caesars Entertainment and it’s a very new facility in horse racing terms, having opened just over 10 years ago in 2008.

Indy 500 Betting Tips

Hoosier Park features live harness racing from April to October, while also offering simulcast racing on all top tracks from across the USA all year-round. In addition to the racebook, Hoosier Park is also home a popular casino that features plenty of slots and e-table games to allow you to continue to gamble away from the track.

Hoosier Park also added a sportsbook in 2020 called The Book.

***I should also note that you can wager on every live race at Hoosier Park at BetOnline.ag.

Indy Major Pro Sports Teams

• Indiana Pacers (NBA)
• Indianapolis Colts (NFL)