Josef Newgarden favored to win 2024 IndyCar Championship over Alex Palou

  • Josef Newgarden (+300) is favored to win his third IndyCar championship in 2024 
  • Alex Palou (+450) is aiming for his third title in the past four seasons
  • IndyCar will return on March 24 for The $1 Million Dollar Challenge at The Thermal Club

Josef Newgarden cruised to a 7.9121-second victory in the IndyCar season opener at the Firestone Grand Prix at St Petersburg. Will the Team Penske mainstay become only the 13th driver in history to win three or more IndyCar Series championships?

Before we check out the latest odds, here’s where you can find all the Sports & Competitions to bet on in 2024 and see the latest Sports Betting Odds & Picks.

2024 IndyCar Championship

DriverBetOnline ReviewBovadaMyBookie Review
Josef Newgarden+300+300+300
Alex Palou+450+450+450
Pato O'Ward+600+600+600
Scott McLaughlin+800+800+800
Scott Dixon+1100+1100+1100
Colton Herta+1200+1200+1200
Marcus Ericsson+1200+1200+1200
Alexander Rossi+1400+1400+1400
Kyle Kirkwood+1400+1400+1400
Will Power+1800+1800+1800
Felix Rosenqvist+2000+2000+2000
Christian Lundgaard+2500+2500+2500
David Malukas+3300+3300+3300
Graham Rahal+4000+4000+4000
Santino Ferrucci+4000+4000+4000
Rinus Veekay+5000+5000+5000
Romain Grosjean+5000+5000+5000
Linus Lundqvist+6600+6600+6600
Marcus Armstrong+8000+8000+8000
Tom Blomqvist+20000+20000+20000
Agustin Canapino+25000+25000+25000
Kyffin Simpson+25000+25000+25000
Pietro Fittipaldi+50000+50000+50000
Sting Ray Robb+50000+50000+50000

Newgarden takes opening race

How should we react to Josef Newgarden (+300) capturing the checkered flag at St. Petersburg? While the reigning Indianapolis 500 winner was impressive at the Firestone Grand Prix, it was just the first of 17 races this year. Keep in mind that IndyCar is much more wide open than Formula 1, producing seven different winners in 2023. Last season was also the first time in almost 20 years the series did not go to the finale with multiple championship contenders.

Alex Palou (+450) clinched last year’s title with a race to spare. While he finished a disappointing sixth-place in the season opener, the Chip Ganassi driver has nine career wins and two championships to his name. Through 64 career starts, he has more top-10s (45) than Mario Andretti (44), A.J. Foyt (42), Will Power (41) and Scott Dixon (39).

Next event on the calendar

IndyCar isn’t returning to championship competition until April 23rd with the Grand Prix of Long Beach. However, the series is running an exhibition “All-Star” event for the first time since 2008.

The Thermal Club $1 Million Challenge will run on March 24. The winner will earn $1 million, but no points will be counted towards the championship.

Josef Newgarden2024 IndyCar Champion
★★★★★
+300
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Alex Palou2024 IndyCar Champion
★★★★★
+450
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Other IndyCar contenders

Pato O’Ward (+600) placed second at St. Petersburg after finishing fourth in the 2023 NTT IndyCar Series championship. The 24-year-old Mexican was recently added to the list of reserve drivers for the McLaren Formula 1 team. Only four drivers in the series have more top-three finishes than O’Ward (20) over the past four seasons.

Scott McLaughlin (+800) surged to a career-best third in the point standings in 2023, two spots ahead of Newgarden. He and Will Power (+1200) finished in third and fourth, respectively, at the Firestone Grand Prix in a day dominated by Penske.

Potential Longshots?

Colton Herta (+1200), Marcus Ericsson (+1200) and Kyle Kirkwood (+1400) are part of an Andretti Global team that scaled back from four full-time cars to three this year. When Chip Ganassi Racing did the same in 2018, Scott Dixon won the championship. Will Power also secured a title in 2022 when Team Penske slimmed down to three cars. Will history repeat itself again?

Scott Dixon (+1100) didn’t have the best season opener, but we’re still talking about a six-time IndyCar champion with 55 career wins. The 43-year-old finished second in the point standings last year behind his Chip Ganassi teammate Palou.

Colton Herta2024 IndyCar Champion
★★★★★
+1200
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Steve is the quintessential American sports enthusiast. He has mastered the art of Sundays, devoting them to football, and barbecue parties. He proudly wears the hats of a good father, husband and a great dog owner. Aside from his decades of contributing to different top-tier sports publications, Steve has also found his niche on Twitter, where he publishes funny and relatable sports-related insights. When he's not busy tweeting, Steve loves to watch each game unfold live. He possesses an innate talent for finding humor in the sports world, appreciating both the thrilling moments and the comedic mishaps that make each event unique.