How to Bet on the 2016 Indianapolis 500 Online

2016 Indy 500

The Indy 500 will be making its 100th running this weekend at the Indianapolis Motor Speedway. With more than 300,000 people expected to watch it in person and another 7 million to watch it on TV, interest in betting on the 2016 Indy 500 is growing by the day.

In today’s guide for betting on “The Greatest Spectacle in Racing,” I will provide a brief overview of the Indy 500 itself, pass on any relevant news and then give you a full list of the odds on offer right now at all the internet’s major Indy 500 betting sites. By the time you finish today’s post, you will be fully prepared to bet confidently on this year’s race.

But first, let’s set the mood:

James Hinchcliffe Earns Pole Position

James Hinchcliffe earned the pole position during qualifying this week, and subsequently a whole lot of press related this being his comeback from last year’s near-fatal accident. During an Indy 500 practice session last year, a piece in his car’s suspension failed and sent him careening into the wall at 221 mph. A piece of the broken suspension pierced his leg, causing him to lose 14 points of blood. He later said it was “almost a complete oil change.”

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Hinchcliffe certainly has a knack for uttering memorable quotes. It was about a year ago when he told reporters that he was also worried about a concussion suffered during the accident, saying that he still had “to make sure that I could still make split-second decisions at 220 miles per hour.”

On Sunday, Hinchcliffe told USA Today that he was ready to move on from the past and try not to make his comeback be the story of the 2016 Indy 500. In reference to that, he said:

“…I really appreciated that people wanted to hear the story, wanted to tell the story for me. There was a lot of really, really nice pieces done, a lot of nice tributes done in that sense. But no, then you’re coming back to this place and you want to focus on the here and now and not remember or focus on hitting the wall at 125 G’s.”

Hinchcliffe barely edged out Josef Newgarden and Ryan Hunter-Reay in capturing the pole with an average speed of 230.760 mph. It was just 0.06 mph faster than Newgarden’s speed and one of the closest shootouts in Indy 500 history.

Date, Time and Starting Grid

The 100th running of the Indianapolis 500 will run on Sunday, 29 May at noon local time. It will be run at the Indianapolis Motor Speedway over 200 laps of 2.5 miles each. On television, the race will only be available to customers in the US via ABC. WatchESPN and Racecontrol will also be streaming the event live online.

PositionDriver / Car NumberMakeAverage Speed
1James Hinchcliffe #5Honda230.760
2Josef Newgarden #21Chevrolet230.700
3Ryan Hunter-Reay #28Honda230.648
4Townsend Bell #29Honda230.481
5Carlos Munoz #26Honda230.287
6Will Power #12Chevrolet229.669
7Mikhail Aleshin #7Honda229.562
8Simon Pagenaud #22Chevrolet229.139
9Helio Castroneves #3Chevrolet229.115
10Oriol Servia #77Honda229.060
11Alexander Rossi #98Honda228.473
12Takuma Sato #14Honda228.029
13Scott Dixon #9Chevrolet227.991
14Marco Andretti #27Honda227.969
15JR Hildebrand #6Chevrolet227.876
16Charlie Kimball #42Chevrolet227.822
17Juan Pablo Montoya #2Chevrolet227.684
18Tony Kanaan #10Chevrolet227.430
19Sebastien Bourdais #11Chevrolet227.428
20Ed Carpenter #20Chevrolet227.226
21Gabby Chaves #19Honda227.192
22Max Chilton #8Chevrolet226.686
23Sage Karam #24Chevrolet226.436
24Conor Daly #18Honda226.312
25Pippa Mann #63Honda226.006
26Graham Rahal #15Honda225.847
27Matt Brabham #61Chevrolet225.727
28Bryan Clauson #88Honda225.266
29Spencer Pigot #16Honda224.847
30Stefan Wilson #25Chevrolet224.602
31Jack Hawksworth #41Honda224.596
32Buddy Lazier #4Chevrolet222.154
33Alex Tagliani #35Hondacrash

Latest Odds

Despite winning the pole position, online bookmakers did not install Hinchcliffe as the favorite to win on Sunday. Hinchcliffe is currently priced at around the 10/1 range as the sixth or seventh-favorite to win depending on where you look (see the odds table below). Ahead of him are Will Power, Simon Pagenaud, Juan Pablo Montoya, Scott Dixon, Helio Castroneves and Tony Kanaan.

Even last year’s winner, Juan Pablo Montoya, did not open as this year’s favorite. That honor went to Will Power followed closely by Simon Pagenaud. The pair have been nothing but cordial to one another since becoming teammates under the Penske banner, but their past entanglements prove just how competitive each is.

The odds have tightened since then and some Indy 500 bookmakers are now paying 6/1 across the board for Power, Pagenaud and Montoya. Montoya won the 2015 edition to earn his second title in Indianapolis. In three Indianapolis 500 starts, Montoya has two first-place finishes and a fifth-place finish.

Helio Castroneves is also in the running near as a potential winner in 2016. With three Indy 500 wins to his name, Castroneves has had more success in Indianapolis than any other active driver. If he makes it four this year, that will make him one of only four drivers in history to win four times here.

 Sky Bet
Will Power #127/1
Simon Pagenaud #224/1
Juan Pablo Montoya #27/1
Scott Dixon #99/1
Helio Castroneves #37/1
Tony Kanaan #1016/1
James Hinchcliffe #56/1
Josef Newgarden #217/1
Ryan Hunter-Reay #289/1
Sebastien Bourdais #1125/1
Marco Andretti #2740/1
Graham Rahal #1540/1
Townsend Bell #2925/1
Takuma Sato #1440/1
Carlos Munoz #2622/1
JR Hildebrand #650/1
Charlie Kimball #4250/1
Ed Carpenter #2080/1
Mikhail Aleshin #725/1
Oriol Servia #7766/1
Max Chilton #880/1
Sage Karam #24125/1
Alex Tagliani #35200/1
Alexander Rossi #9866/1
Conor Daly #18125/1
Jack Hawksworth #41200/1
Stefan Wilson #25200/1
Matthew Brabham #61200/1
Spencer Pigot #16200/1
Bryan Clauson #88200/1
Gabby Chaves #19150/1
Buddy Lazier #4200/1
Pippa Mann #63200/1

Best odds among US sportsbooks:

DriverBovada Odds
Will Power #12+600
Simon Pagenaud #22+600
Juan Pablo Montoya #2+650
Scott Dixon #9+700
Helio Castroneves #3+700
Tony Kanaan #10+1000
James Hinchcliffe #5+1000
Josef Newgarden #21+1200
Ryan Hunter-Reay #28+1600
Sebastien Bourdais #11+2000
Marco Andretti #27+2000
Townsend Bell #29+2500
Graham Rahal #15+2500
Carlos Munoz #26+2500
JR Hildebrand #6+3300
Takuma Sato #14+3300
Ed Carpenter #20+3300
Charlie Kimball #42+4000
Mikhail Aleshin #7+4000
Oriol Servia #77+5000
Alex Tagliani #35+6600
Max Chilton #8+6600
Sage Karam #24+6600
Alexander Rossi #98+10,000
Conor Daly #18+10,000
Jack Hawksworth #41+10,000
Stefan Wilson #25+10,000
Bryan Clauson #88+10,000
Gabby Chaves #19+10,000
Matthew Brabham #61+10,000
Spencer Pigot #16+10,000
Buddy Lazier #4+10,000
Pippa Mann #63+15,000