The 2023 Indianapolis 500 is here with a green flag time of 12:45 p.m. ET on Sunday, May 28. This will be the 107th iteration of the famed race with Alex Palou the favorite to win.
The 2022 winner was Marcus Ericsson, currently seventh on the odds board at +1200. A typical Indy 500 winning time will be shy of three hours — a grueling competition at 500 miles.
Our preferred sportsbook is FanDuel, but many different sites are running promotions. Check out all the top promotions from the best sports betting sites for the 107th Indianapolis 500!
FanDuel Sportsbook is our top-rated sportsbook across the United States for best odds, user navigation and promotions. Any new customer in all FanDuel locations can access the $1,000 No Sweat First Bet which covers a first bet loss with bonus bets up to $1,000.
After clicking this link, create a new account, make a minimum $10 deposit and place a wager of any size on the Indy 500, or any market, for a chance to win. Similar to other offers below, bonus bets can only be earned if the bet settles as a loss.
If you picked an underdog such as Alexander Rossi to win the Indy 500 at +1300 on FanDuel, a win would return $14,000 with a max $1,000 bet. Even if another driver wins, you earn $1,000 in bonus bets to use on any market or odds provided by FanDuel Sportsbook. Click below to access the offer with no promo code needed to get started!
BetMGM offers a chance to recoup your first bet up to $1,000 in bonus bets if your first bet doesn’t win with bonus code HANDLETOP. As a first-time bettor, you need a new account, a minimum $10 deposit and real-money wager.
If you win your first bet, you keep the cash from the win. A first bet loss means you can earn bonus bets within 24 hours which are valid for seven days from receipt in your account.
Let’s say you maximize the value of the offer by placing $1,000 on current odds leader Alex Palou to win the Indy 500 at +550. A win means you return $6,500, and if another driver wins, BetMGM would send you five payments of $200 in bonus bets to cover your $1,000 stake.
3. bet365 Sportsbook
bet365 Sportsbook offers one of the most straightforward and low-commitment offers for new customers. New bettors in NJ, Ohio, Virginia and Colorado can use bonus code SHNEWS with a $10 deposit and $1 wager to earn $200 in bonus bets within one hour of bet settlement.
In order to activate the bonus code offer, create a new account by following this link to bet365. Make a minimum $10 deposit and $1 wager on odds -500 or greater. The odds requirement means -300 would qualify but -600 wouldn’t be eligible.
Luckily, with so many available drivers in the Indy 500, odds on any driver qualify as the leading favorite is currently +600, or selecting the top driver to have a podium finish would be +170. As long as you meet the odds requirement as well as the deposit and wager, bonus bets deposit to you within one hour, regardless of your bet outcome.
You can also bet $1 on any soccer match Sunday morning and have bonus bets in time for the Indy 500.
4. Caesars Sportsbook
Caesars Sportsbook offers new customers in all available states first bet coverage up to $1,250 in bonus bets with promo code HANDLENEWSFULL. This is one of the highest overall value welcome offers across all major sportsbooks.
It works essentially the same as the BetMGM and FanDuel offers — if you win, you keep cash while if you miss your first bet, Caesars covers the stake loss up to $1,250.
Follow these steps to place your first wager on any market provided by Caesars Sportsbook.
- First, head to the Caesars homepage —the offer is the same for every state.
- Make a new account with promo code HANDLENEWSFULL.
- Deposit and wager at least $10 to unlock bonus bets.
A list of top sportsbooks would be incomplete without DraftKings. DraftKings offers a 20 percent deposit match for new customers up to a maximum of $1,000 in bonus bets.
The welcome offer requires a $5 deposit to start, earning $1 in bonus, up to $5,000 deposited to earn the $1,000. However, note that the bonus funds are released as $1 earned for every $25 wagered as a play-through requirement.
Additionally, DraftKings offers an Indy Car odds surge for existing customers to add +250 on any existing driver odds to win outright. This is an easy way to earn extra cash on a driver you may already consider to win the race.