2023 Indy 500 odds and predictions: Who are the favorites to win the race?

The Indianapolis 500, the premier event of the IndyCar Series and famously called The Greatest Spectacle in Racing, will take place at the iconic Indianapolis Motor Speedway on Sunday, May 28th. The 107th edition promises to be an exciting showcase of auto racing skills, cementing its reputation as one of the most prestigious motorsport competitions in the world.

Last year’s champion, Ericsson, has appeared as a strong contender after his impressive victory, earning him a place among the top favorites in the betting world for the Indy 500. The Swedish driver holds a notable third position in the IndyCar Series standings with 155 points.

Favorites for the race

Alex Palou

Following Alex Palou’s stunning performance during qualifying, the sports betting community has shifted their attention to him as the frontrunner. Palou, who also serves as a reserve member for the F1 McLaren team, has had an exceptional month leading up to the Indy 500, further solidifying his position as a noteworthy contender.

Pato O’Ward

Pato O’Ward anxiously anticipates his inaugural victory in the 2023 season. However, he has already secured an impressive record with three second-place finishes and four top-five results. In the previous race on the Indy road course, he narrowly missed first place, settling for second behind Palou. O’Ward has consistently graced the podium more frequently than any other driver in the current field throughout the season.

Reflecting on his past performances at the iconic Indianapolis 500, O’Ward achieved a commendable fourth-place finish in 2021, which he followed up with a remarkable second-place result in the subsequent season. As the upcoming race approaches, he will commence from the fifth position on the starting grid, firmly establishing his presence among the frontrunners.

Josef Newgarden

Joseph Newgarden is a highly experienced driver with an impressive racing portfolio who is viewed as a strong contender for this year’s Indianapolis 500 by betting experts. He has showcased throughout the 2023 season, achieving three top-ten finishes, including a remarkable win at the Grand Prix of Texas, the season’s second race.

Although Newgarden has struggled to secure top-ten finishes since 2019, he has demonstrated his capabilities in previous Indy 500 races, earning two top-five finishes. His past successes and vast experience at the event make him a formidable opponent. Currently, he holds the sixth position in the IndyCar standings, trailing Palou by 43 points. Given his reputation and outstanding performance, Newgarden is among the top predictions for the coveted checkered flag at this year’s Indianapolis 500.