2020 Indy 500 Odds, Pick: Now Is the Time to Bet Scott Dixon

Don't look now, but Opening Day for the 2020 Indy 500 is just six days away, with cars will be on track practicing Aug. 12-14, then qualifying Aug. 15-16.

Those practice sessions will certainly provide plenty of valuable data, as will qualifying, but Indy 500 odds are now widely available, meaning there's the opportunity to go ahead and start picking off soft numbers.

Due to the COVID-19 pandemic, "The Greatest Spectacle in Racing" was postponed from its traditional date on the Sunday of Memorial Day weekend until Aug. 23, with the actual IndyCar season not getting underway until June 6 at Texas Motor Speedway.

Scott Dixon rocketed out of gates, winning the first three races of the season and taking a commanding lead over second-place Simon Pagenaud in the IndyCar points standings through six events.

Dixon, a five-time series champion and the 2008 Indy 500 winner, is certainly among the favorites at the Brickyard, but from a betting perspective, backing a race favorite who is properly priced by oddsmakers doesn't offer value.

I don't consider myself an expert IndyCar bettor, but as a motorsports fan, I do enjoy wagering on the Indy 500. In fact, a follower on Twitter alerted me to the mispriced number I explain below.

With that said, I'm experienced enough in betting to understand the value of shopping for the best line.

And by simply comparing prices at a handful of sportsbooks, it's clear that one shop is offering Dixon at odds that are simply too good to pass up.

2020 Indy 500 Odds, Betting Pick

*Odds as of Aug. 6 at 11:45 p.m. ET

DraftKings Sportsbook has Dixon listed as its Indy 500 favorite with 5-1 odds and BetMGM is closely priced at +550.

However, PointsBet has Dixon available at +950, which is much better than the market consensus and one all Indy 500 bettors should jump on right now.

And while Dixon is the prize right now, bettors should also grab a piece of Conor Daly at 55-1 while perusing PointsBet for similar reasons.

I bet Daly 50-1 to win the Indy 500 back in March, so I clearly like him at 55-1 odds right now, especially with the added benefit of watching his sixth-place run at Texas.

And just like Dixon, PointsBet's number is so much better than the 25-1 that both DraftKings and BetMGM are offering, that bettors should also add Daly, to go along with Dixon, right now.

The Bets: Scott Dixon (+950) & Conor Daly (55-1) to Win Indy 500 [Bet now at PointsBet. NJ and IN only.]