What are the odds for the 2025 Indy 500? Who's the current favorite

The annual open-wheel race, known as the Indy 500, is set to take place next Sunday (May 25) with Alex Palou being the current favorite to win according to the odds.

This has changed over the last few weeks, with Pato O’Ward being in the top spot in the odds at the beginning of February. (according to Fox). Now, he’s classed as the second favorite in the early odds.

This change has come after Spanish driver Alex Palou had a perfect performance in the Sonsio Grand Prix over the weekend. He has also won four of the first five races in the 2025 season, with a second-place finish in the other race.

As next weekend approaches, all eyes will be on Palou to see if he can continue seeing podium finishes. This does, however, come with the added pressure, especially as the Indianapolis 500 is often hailed one of the most prestigious.

Also known as ‘The Greatest Spectacle in Racing,’ the upcoming race will be one everyone wants to win. It’s at the Indianapolis Motor Speedway track where drivers partake in more practice sessions than on other weekends, as there’s a full week of sessions.

In 2024, Josef Newgarden took the number one spot, followed by Pato O’Ward and Scott Dixon. Alex Palou secured P5, behind Alexander Rossi in P4.