Indianapolis 500 Betting Preview and Analysis

The milk will be on ice at Indianapolis Motor Speedway this weekend ready to be chugged by the winner of the 101st Indianapolis 500.

The odds-on favorite at the Bovada Sportsbook in this year’s race, Fernando Alonso, is an interesting choice as it will not only be his first Indy 500, but also his first IndyCar Series race.

Alonso, the two-time F1 world champion, is taking a break from the F1 circuit this weekend to race in Indianapolis.The oddsmakers have listed him as a +450 favorite. Alonso may be a former F1 champ, but his last title was more than a decade ago and he hasn’t won an F1 race since 2013.

Last year’s winner of the 500, Alexander Rossi, returns to try and take the checkered flag again, but he’s a +1400 underdog to do so at the Bovada Sportsbook. He won as a rookie last year and hasn’t won a race since then. He’ll try to become the first back-to-back Indy winner since Helio Castroneves did it in 2001-02.

Speaking of Castroneves, the veteran is back again this weekend looking for his fourth win in the 500. Along with his wins in 2001 and 2002 he also won in 2009 and is listed at +1200 odds to add a fourth victory.

The pole-sitter this weekend is Scott Dixon, who is getting the best odds after Alonso at +475. Dixon also was on the pole in 2008 when he won the 500. It’s been eight years since the pole-sitter has won at Indy, the last being Castroneves in 2009.

The last race on the IndyCar schedule was also held at Indianapolis Motor Speedway. The IndyCar Grand Prix was held at the Brickyard two weeks ago. The difference in that race was that it was held on the road course instead of the oval. Will Power won the Grand Prix and is at +800 to make it back-to-back wins this weekend. Power is still looking for his first win in the 500 and posted his best finish, second place, in 2015.

There are four other former Indy 500 winners in this weekend’s field. They’re led by two-time winner Juan Pablo Montoya (+1200), and also includes Ryan Hunter-Reay (+1200), Tony Kanaan, and Buddy Lazier (+25000).