Indianapolis 500 Betting Odds
The following are official gambling odds for the winner of the Indianapolis 500 in since 1971. Odds listed were published by a Las Vegas or Reno casino sportsbook, a nationally syndicated oddsmaker, or in more recent years, an online sports betting/handicapping web site.
In some years, Jimmy “the Greek” Snyder and Danny Sheridan of USA Today provided odds for the “500”.
Bold indicates that the favorite won the race.
| Year | Favorite | Odds | Race Winner | Odds |
| 1971 | A.J. Foyt Al Unser Sr. |
4–1 | Al Unser Sr. | 4–1 |
| 1973 | Bobby Unser | 5–1 | Gordon Johncock | |
| 1974 | A.J. Foyt | 5–1 | Johnny Rutherford | 10–1 |
| 1975 | A.J. Foyt | 5–1 | Bobby Unser | 6–1 |
| 1976 | Johnny Rutherford | 4–1 | Johnny Rutherford | 4–1 |
| 1977 | Bobby Unser | 4–1 | A.J. Foyt | 6–1 |
| 1978 | Tom Sneva | 4–1 | Al Unser Sr. | 8–1 |
| 1979 | Tom Sneva | 3–1 | Rick Mears | 7–2 |
| 1980 | Johnny Rutherford | 5–1 | Johnny Rutherford | 5–1 |
| 1981 | Bobby Unser | 5–1 | Bobby Unser | 5–1 |
| 1982 | Rick Mears | 5–2 | Gordon Johncock | 4–1 |
| 1983 | Rick Mears Al Unser Sr. |
5–2 | Tom Sneva | 3–1 |
| 1984 | Tom Sneva | 2–1 | Rick Mears | 5–2 |
| 1985 | Mario Andretti | 4–1 | Danny Sullivan | 8–1 |
| 1986 | Rick Mears | 2–1 | Bobby Rahal | 4–1 |
| 1987 | Mario Andretti | 7–2 | Al Unser Sr. | 15–1 |
| 1988 | Rick Mears | 5–2 | Rick Mears | 5–2 |
| 1989 | Rick Mears | 2–1 | Emerson Fittipaldi | 5–1 |
| 1990 | Emerson Fittipaldi | 3–1 | Arie Luyendyk | 8–1 |
| 1991 | Rick Mears | 3–1 | Rick Mears | 3–1 |
| 1992 | Mario Andretti | 9–2 | Al Unser Jr. | 15–1 |
| 1993 | Arie Luyendyk | 4–1 | Emerson Fittipaldi | 10–1 |
| 1994 | Emerson Fittitpaldi Al Unser Jr. Raul Boesel |
5–1 | Al Unser Jr. | 5–1 |
| 1995 | Michael Andretti | 5–1 | Jacques Villeneuve | 7–1 |
| 1996 | Arie Luyendyk | 3–1 | Buddy Lazier | 12–1 |
| 1997 | Arie Luyendyk | 4–1 | Arie Luyendyk | 4–1 |
| 1998 | Tony Stewart | 4–1 | Eddie Cheever | 35–1 |
| 1999 | Scott Goodyear | 4–1 | Kenny Bräck | 40–1 |
| 2000 | Al Unser Jr. | 5–1 | Juan Pablo Montoya | 6–1 |
| 2001 | Tony Stewart | 5–1 | Helio Castroneves | 15–1 |
| 2002 | Gil de Ferran | 5–1 | Helio Castroneves | 6–1 |
| 2003 | Helio Castroneves | 5–1 | Gil de Ferran | 10–1 |
| 2004 | Helio Castroneves | 4–1 | Buddy Rice | 8–1 |
| 2005 | Helio Castroneves | 4–1 | Dan Wheldon | 10–1 |
| 2006 | Helio Castroneves | 7–2 | Sam Hornish Jr. | 4–1 |
| 2007 | Dan Wheldon | 3–1 | Dario Franchitti | 10–1 |
| 2008 | Scott Dixon | 5–2 | Scott Dixon | 5–2 |
| 2009 | Helio Castroneves | 7–2 | Helio Castroneves | 7–2 |
| 2010 | Scott Dixon | 3–1 | Dario Franchitti | 9–2 |
| 2011 | Scott Dixon | 7–2 | Dan Wheldon | 12–1 |
| 2012 | Dario Franchitti | 4–1 | Dario Franchitti | 4–1 |
| 2013 | Marco Andretti | 7–1 | Tony Kanaan | 15–1 |
| 2014 | Marco Andretti | 5–1 | Ryan Hunter-Reay | 10–1 |
| 2015 | Scott Dixon | 4–1 | Juan Pablo Montoya | 8–1 |
| 2016 | Scott Dixon | 4–1 | Alexander Rossi (field) | 25–1 |
| 2017 | Fernando Alonso | 9–2 | Takuma Sato | 25–1 |
| 2018 | Will Power | 8–1 | Will Power | 8–1 |
| 2019 | Will Power | 7–1 | Simon Pagenaud | 8–1 |
| 2020 | Scott Dixon | 4–1 | Takuma Sato | 14–1 |
| 2021 | Scott Dixon | 4–1 | Helio Castroneves | 30–1 |
| 2022 | Scott Dixon | 4–1 | Marcus Ericsson | 14–1 |
| 2023 | Pato O’Ward | +500 | Josef Newgarden | +1400 |
| 2024 | Scott McLaughlin | +450 | Josef Newgarden | +550 |
| 2025 | Pato O’Ward | +500 | Alex Palou | +600 |
Pre-World War I years
In the very early years of the Indianapolis 500, local betting parlors downtown took wagers on the winner of the race. In most cases during this period, the odds were listed not for the specific drivers, but instead for the teams/entrants. Around 1917, the gambling parlors in the area were shut down by politicians and law enforcement. Despite the crackdowns, illegal gambling houses reportedly persisted well into the 1920s, although very little information is known about whether the “500” was still wagered upon.
Later on, the local newspapers often published hypothetical odds lists for the race winner. But these were more generic in nature, and not necessarily tied to any casino or sportsbook.
| Year | Betting Favorite | Race Winner |
| 1911 | Nordyke & Marmon Co. | Ray Harroun (Marmon) |
| 1912 | National Motor Vehicle Co. | Joe Dawson (National) |
| 1913 | Keeton Motor Co. | Jules Gous (Peugeot) |
| 1914 | Peugeot | Rene Thomas (Delage) |
| 1915 | Ralph Depalma (Mercedes) | Ralph Depalma (Mercedes) |
| 1916 | Dario Resta (Peugot) | Dario Resta (Peugot) |
Betting pools
Office betting pools have been a not uncommon pastime at the Indianapolis 500. Over the years, pools have been conducted by all sorts of groups, including groups of fans at the track to guess the winner of the race. Some pools were even said to guess the lap in which Mario Andretti was going to drop out of the race, a reference to the so-called “Andretti Curse”.
Additional Works Cited
- The Talk of Gasoline Alley – May 13, 2003
- The Talk of Gasoline Alley – May 13, 2015