The Indy 500 is the only time that Indy Racing gets decent media coverage (and hence a reasonable number of bookmakers betting on it).
Most of the major bookmakers have opened books on the race. The one bet I considered having was Dan Wheldon at 11/4. However, instead of backing hime for the race (which you always need luck to win), I've backed him at 15/8 to win the Indy Racing Championship. He was unlucky not to win the Indy Racing Championship last year, and has looked clearly the best driver this year (he is leading the Championship). I'd have made him a even money chance (at most). WWinning this race will help in in his chmapionship battle.
I'm therefore having 15 points at 15/8 on Dan Wheldon for the Championship at Paddy Power - he is closer to even money elsewhere. Look, Bet365 you can take bets if you want to! (Bet365 are 5/4 and restricting me to £1.60 (ONE POUND SIXTY on this market).
I also can't resit a few specialiaty bets from Ladbrokes combining the Monaco Grand Prix the Indy 500 as follows:
4 pts on Danica Patrick to lead at some point in the race at 5/1. She is unlikely to win the race, but given the length of it, there are plenty of opportunities for crashes and hence offset fuel strategies.
3 pts Double on Lewis Hamilton to win Monaco and Dan Wheldon to win the Indy 500 at 16-1. Hamilton has an execllent record at Monaco and this Sunday is the time for this naturally talented driver to come of age. I've outlined Dan Wheldon's chances above.
1 pt Double on David Coulthard to make the podium at Monaco and Dario Franchitti to make the podium in the Indy 500 at 40/1. Coulthard has an excellent record at Monaco (finished on the podium last year in a weaker Red Bull) and his Red Bull has recently showed signs of improved performance (with a 5th in the Spanish Grand Prix). Franchitti has a reasonable podium chance.