[h=1]How to bet the Indy 500[/h][h=3]Helio Castroneves is the favorite, but which drivers provide the best value?[/h]
ESPN INSIDER
LAS VEGAS -- What's in a name?
When you say Indianapolis 500, you get people's attention, as it's still one of the top brand names in sports. Even though many will say that NASCAR has passed IndyCar in terms of popularity, there will still be plenty tuned to ABC at noon Sunday and a live crowd of 400,000, the largest of any U.S. sporting event. Since it's an iconic event (much in the same way that non-horse racing fans still get involved on Kentucky Derby Day), there's also betting interest with odds to win the event and head-to-head matchups and props.
<!-- begin inline 1 -->[h=4]Indy 500 Odds[/h]The odds as of Thursday, courtesy of LVH.
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<!-- end inline 1 -->When it comes to the top of the betting board, it's also a name game. Ed Salmons, who sets the odds for Jay Kornegay, the LVH's vice president of Race and Sports, made Helio Castroneves, Marco Andretti and Juan Montoya the co-favorites at 6-1 when he opened his Indy 500 odds April 28. Andretti, a very famous name as the grandson of legendary 1969 winner Mario, was bet down to 5-1 favoritism, but now Castroneves, who is trying to join A.J. Foyt, Al Unser and Rick Mears as the only four-time winners of the Indy 500, has taken over as the 5-1 favorite as of late Thursday night. Andretti is the second choice at 6-1 and Montoya at 7-1, followed by the trio of Will Power (my favorite racing name), Ed Carpenter and James Hinchcliffe at 8-1.
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"It's a combination of bets we've taken, as well as my adjustments from seeing their practice speeds," Salmons said. "Setting the odds has been a little tougher this year because this is the first oval race of the season. We usually would have had an oval race or two by now, but they've all been road courses."
Carpenter has the fastest qualifying runs of all, and he's the pole sitter for the second straight year. If he was more of a household name, he'd probably be even lower. He's actually the Ed Carpenter in Ed Carpenter Racing, but he lets another driver (Mike Conway) have his car in the road races.
"Ovals are his thing and he definitely has a shot, but while everyone doesn't know his name, the value is gone at 8-1," Salmons said. "If he was 20-1, that might be a good bet, but those of us who follow the sport know he has a good shot."
The most recognizable name of all in this year's field for non-racing fans might very well be Kurt Busch from the NASCAR world. He's driving in his first Indy 500 and in fact is also trying to pull off "the double" by driving in the Coca-Cola 600 Sprint Cup NASCAR race in Charlotte, North Carolina, the same night. Previous drivers to attempt the feat have been John Andretti, Robby Gordon and Tony Stewart, with Stewart having the most successful day in 2001, as he finished sixth at Indy and third at Charlotte (after having to start at the back of the field because he missed the driver's meeting).
Salmons opened Busch at 20-1 odds, raised him to 30-1 earlier this month and now has him at 40-1.
"He's never driven an IndyCar race," Salmons said of Busch. "It's going to be different than practice [and he had a much-discussed crash the other day], so I would be shocked if he won. He's on a good team, but now he has to go with a backup car, too.
"We've taken bets on him, but I keep raising him trying to give fair value. If you bet him and he pulls it off, you ought to get 40-1."
Tuley's Take on Indy 500
One thing I've had success with over the years is taking the opinions of sharp bookmakers (of which Salmons certainly is one) and finding better odds elsewhere.
For instance, last year I cashed a small ticket on Tony Kanaan at 15-1 as Salmons had him shaded lower at 10-1. He's 15-1 to repeat, so I'm going to take another shot with him.
Obviously Salmons is high on Castroneves and has him at 5-1, but I've seen him with higher odds at other books. I usually don't bet favorites, but he's won 22-of-197 career IndyCar races, which is nearly one out of every eight races, so anything in that range seems fair (and he's 3-for-13 in the Indianapolis 500, so that even makes 5-1 look playable).
If it seems too daunting to take one or two drivers in a 33-car field, you can look at matchups. Castroneves is going to be a prohibitive favorite against just about anyone else, but Kanaan should be available at decent prices.
Another long shot to consider is Carpenter's teammate JR Hildebrand, who nearly won the 2011 race before crashing on the final lap. He's 40-1 and also should be plus-money if you find him against bigger name drivers in matchups.
ESPN INSIDER
LAS VEGAS -- What's in a name?
When you say Indianapolis 500, you get people's attention, as it's still one of the top brand names in sports. Even though many will say that NASCAR has passed IndyCar in terms of popularity, there will still be plenty tuned to ABC at noon Sunday and a live crowd of 400,000, the largest of any U.S. sporting event. Since it's an iconic event (much in the same way that non-horse racing fans still get involved on Kentucky Derby Day), there's also betting interest with odds to win the event and head-to-head matchups and props.
<!-- begin inline 1 -->[h=4]Indy 500 Odds[/h]The odds as of Thursday, courtesy of LVH.
| Driver | Odds |
|---|---|
| HELIO CASTRONEVES | 5-1 |
| MARCO ANDRETTI | 6-1 |
| JUAN MONTOYA | 7-1 |
| WILL POWER | 8-1 |
| ED CARPENTER | 8-1 |
| JAMES HINCHCLIFFE | 8-1 |
| SCOTT DIXON | 10-1 |
| RYAN HUNTER-REAY | 10-1 |
| TONY KANAAN | 15-1 |
| SIMON PAGENAUD | 15-1 |
| CARLOS MUNOZ | 15-1 |
| KURT BUSCH | 40-1 |
| JR HILDEBRAND | 40-1 |
| JOSEF NEWGARDEN | 40-1 |
| RYAN BRISCOE | 50-1 |
| GRAHAM RAHAL | 60-1 |
| JUSTIN WILSON | 60-1 |
| TAKUMA SATO | 75-1 |
| ORIOL SERVIA | 75-1 |
| JACQUES VILLENEUVE | 100-1 |
| SEBASTIEN BOURDAIS | 100-1 |
| ALEX TAGLIANI | 100-1 |
| TOWNSEND BELL | 100-1 |
| MIKHAIL ALESHIN | 100-1 |
| JACK HAWKSWORTH | 100-1 |
| CHARLIE KIMBALL | 200-1 |
| SEBASTIAN SAAVEDRA | 300-1 |
| CARLOS HUERTAS | 300-1 |
| BUDDY LAZIER | 300-1 |
| FIELD | 40-1 |
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<!-- end inline 1 -->When it comes to the top of the betting board, it's also a name game. Ed Salmons, who sets the odds for Jay Kornegay, the LVH's vice president of Race and Sports, made Helio Castroneves, Marco Andretti and Juan Montoya the co-favorites at 6-1 when he opened his Indy 500 odds April 28. Andretti, a very famous name as the grandson of legendary 1969 winner Mario, was bet down to 5-1 favoritism, but now Castroneves, who is trying to join A.J. Foyt, Al Unser and Rick Mears as the only four-time winners of the Indy 500, has taken over as the 5-1 favorite as of late Thursday night. Andretti is the second choice at 6-1 and Montoya at 7-1, followed by the trio of Will Power (my favorite racing name), Ed Carpenter and James Hinchcliffe at 8-1.
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"It's a combination of bets we've taken, as well as my adjustments from seeing their practice speeds," Salmons said. "Setting the odds has been a little tougher this year because this is the first oval race of the season. We usually would have had an oval race or two by now, but they've all been road courses."
Carpenter has the fastest qualifying runs of all, and he's the pole sitter for the second straight year. If he was more of a household name, he'd probably be even lower. He's actually the Ed Carpenter in Ed Carpenter Racing, but he lets another driver (Mike Conway) have his car in the road races.
"Ovals are his thing and he definitely has a shot, but while everyone doesn't know his name, the value is gone at 8-1," Salmons said. "If he was 20-1, that might be a good bet, but those of us who follow the sport know he has a good shot."
The most recognizable name of all in this year's field for non-racing fans might very well be Kurt Busch from the NASCAR world. He's driving in his first Indy 500 and in fact is also trying to pull off "the double" by driving in the Coca-Cola 600 Sprint Cup NASCAR race in Charlotte, North Carolina, the same night. Previous drivers to attempt the feat have been John Andretti, Robby Gordon and Tony Stewart, with Stewart having the most successful day in 2001, as he finished sixth at Indy and third at Charlotte (after having to start at the back of the field because he missed the driver's meeting).
Salmons opened Busch at 20-1 odds, raised him to 30-1 earlier this month and now has him at 40-1.
"He's never driven an IndyCar race," Salmons said of Busch. "It's going to be different than practice [and he had a much-discussed crash the other day], so I would be shocked if he won. He's on a good team, but now he has to go with a backup car, too.
"We've taken bets on him, but I keep raising him trying to give fair value. If you bet him and he pulls it off, you ought to get 40-1."
Tuley's Take on Indy 500
One thing I've had success with over the years is taking the opinions of sharp bookmakers (of which Salmons certainly is one) and finding better odds elsewhere.
For instance, last year I cashed a small ticket on Tony Kanaan at 15-1 as Salmons had him shaded lower at 10-1. He's 15-1 to repeat, so I'm going to take another shot with him.
Obviously Salmons is high on Castroneves and has him at 5-1, but I've seen him with higher odds at other books. I usually don't bet favorites, but he's won 22-of-197 career IndyCar races, which is nearly one out of every eight races, so anything in that range seems fair (and he's 3-for-13 in the Indianapolis 500, so that even makes 5-1 look playable).
If it seems too daunting to take one or two drivers in a 33-car field, you can look at matchups. Castroneves is going to be a prohibitive favorite against just about anyone else, but Kanaan should be available at decent prices.
Another long shot to consider is Carpenter's teammate JR Hildebrand, who nearly won the 2011 race before crashing on the final lap. He's 40-1 and also should be plus-money if you find him against bigger name drivers in matchups.
