The most famous IndyCar event in the United States happens on Sunday, May 29, when Scott Dixon, Alex Palou, Pato O’Ward and the rest step into their cars for a chance at Indianapolis 500 glory. Dixon is a solid +550 favorite. But Palou and O’Ward are right on his heels at +850. See below for the top three choices along with the best underdog play to win the 2022 Indianapolis 500.

Check out the 2022 Indy 500 odds analysis. Be sure to check out for NASCAR betting odds and lines at our online Bitcoin sportsbook.

2022 Indy 500 Race Info

"I like pancakes."

We asked the #Indy500 drivers for some fast facts about themselves, and it turns out @PatricioOWard REALLY likes food. #CarbDay pic.twitter.com/8HWFHPMMHh

— #Indy500 on NBC (@IndyCaronNBC) May 27, 2022

• When: Sunday, May 29 at 12:45 pm ET
• Where: Indianapolis Motor Speedway, Indianapolis, IN
• TV: FS1
• Radio: MRN and SiriusXM NASCAR Radio
• Live Stream: NBCSports.com

Odds to Win the 2022 Indy 500

• Scott Dixon +550
• Alex Palou +800
• Pato O’Ward +850
• Josef Newgarden +1100
• Rinus Veekay +1200
• Colton Herta +1400
• Scott McLaughlin +1400
• Will Power +1400
• Takuma Sato +1600
• Marcus Ericsson +1600
• Jimmie Johnson +1800
• Alexander Rossi +2000
• Tony Kanaan +2000
• Felix Rosenqvist +2000
• Simon Pagenaud +2500
• Ed Carpenter +2500
• Helio Castroneves +2800
• Romain Grosjean +2800
• Graham Rahal +3300
• Marco Andretti +5000
• Conor Daly +5000
• David Malukas +5000

Top Choice to Win the 2022 Indy 500

Scott Dixon last won the Indianapolis 500 in 2008. So the chalk is an automatic play against at the odds. Not only that, but Dixon hasn’t won a race yet this season. He’s had decent finishes, but he hasn’t even cracked the top five. So even though Dixon has the pole for Sunday’s race, he’s a play against to win.

Why not take a chance on a driver that was fantastic during this past Tuesday’s preparations? Takuma Sato produced the fastest time during Tuesday’s practice. Sato won in 2020 and in 2017. If the odds hold, he’s an overlay.

Second Top Choice to Win the 2022 Indy 500

Palou starts second. Like Dixon, Palou has yet to win a race this season. Unlike Dixon, Palou has cracked the top five, finishing second twice and third once, in the five Indy Car events. Palou should be in a position to win. So if you want to back chalk, consider backing Alex ahead of Dixon or O’Ward.

Third Top Choice to Win the 2022 Indy 500

Although Power has yet to take a checkered flag this IndyCar season, he ranks first on the standings. The veteran has raced as well as any driver at IndyCar. Over the Grand Prix of Indianapolis Road Course event, Will crossed the line third. Before finishing third over the road course, Power finished fourth in three straight: at Alabama, at Long Beach and at Texas. Power also finished third in the first race at St. Petersburg. It doesn’t matter where Power starts. He always finds a way to get into the top five.

Top Underdog Choice to Win the 2022 Indy 500

It’s tough to win two straight Indianapolis 500 races, which is why Helio Castroneves isn’t the top underdog pick. It’s also very difficult to win as a freshman. So Jimmie Johnson, although we’d love to back JJ, doesn’t qualify. Veteran Simon Pagenaud does.

The 2019 Indianapolis 500 winner may be rounding into his best form. Pagenaud finished second over the road course in the last. If he improves upon that, he could upset the field. Simon can overcome starting sixteenth. If you want to put some money behind an underdog with a shot, go with Simon Pagenaud.

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*All odds stated are subject to change without prior notice.