2025 Indy 500 odds: Alex Palou favorite to win ‘The Greatest Spectacle in Racing’

The 109th Running of the Indianapolis 500 takes place on FOX on May 25, but motorsports fans are already diving into the early betting action.

Last year’s second-place finisher, Pato O’Ward, was at the top of the oddsboard at the beginning of February at 6/1. But now, Alex Palou is in that spot, moving to 9/2 from 10/1 over the last two months. 

Palou started the year off in dominant fashion, winning the first two races of the 2025 season.

The reigning Indy 500 champion is Josef Newgarden, and he’s third on this board at 13/2.

Will we see a repeat champion at The Brickyard in May? Check out the latest odds for “The Greatest Spectacle in Racing” at DraftKings Sportsbook as of April 2.

2025 INDIANAPOLIS 500

Alex Palou: 9/2 (bet $10 to win $55 total)
Pato O’Ward: 6/1 (bet $10 to win $70 total)
Josef Newgarden: 13/2 (bet $10 to win $75 total)
Kyle Larson: 9/1 (bet $10 to win $100 total)
Scott Dixon: 10/1 (bet $10 to win $110 total)
Scott McLaughlin: 11/1 (bet $10 to win $120 total)
Will Power: 12/1 (bet $10 to win $130 total)
Colton Herta: 12/1 (bet $10 to win $130 total)
Santino Ferrucci: 18/1 (bet $10 to win $190 total)
Marcus Ericsson: 20/1 (bet $10 to win $210 total)
Alexander Rossi: 20/1 (bet $10 to win $210 total)
Kyle Kirkwood: 25/1 (bet $10 to win $260 total)
Helio Castroneves: 30/1 (bet $10 to win $310 total)
Felix Rosenqvist: 30/1 (bet $10 to win $310 total)
Conor Daly: 30/1 (bet $10 to win $310 total)
Takuma Sato: 30/1 (bet $10 to win $310 total)
Rinus Veekay: 30/1 (bet $10 to win $310 total)
David Malukas: 30/1 (bet $10 to win $310 total)
Christian Lundgaard: 30/1 (bet $10 to win $310 total)
Ed Carpenter: 40/1 (bet $10 to win $410 total)
Graham Rahal: 40/1 (bet $10 to win $410 total)
Ryan Hunter-Reay: 50/1 (bet $10 to win $510 total)
Marcus Armstrong: 60/1 (bet $10 to win $610 total)
Marco Andretti: 70/1 (bet $10 to win $710 total)
Nolan Siegel: 70/1 (bet $10 to win $710 total)
Christian Rasmussen: 70/1 (bet $10 to win $710 total)
Jack Harvey: 70/1 (bet $10 to win $710 total)
Louis Foster: 80/1 (bet $10 to win $810 total)
Callum Ilott: 80/1 (bet $10 to win $810 total)
Sting Ray Robb: 100/1 (bet $10 to win $1,010 total)
Kyffin Simpson: 100/1 (bet $10 to win $1,010 total)
Jacob Abel: 150/1 (bet $10 to win $1,510 total)
Robert Shwartzman: 150/1 (bet $10 to win $1,510 total)
Devlin DeFrancesco: 150/1 (bet $10 to win $1,510 total) 

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