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The Indy 500 will take place this Sunday on FOX. Check out these fun ways that you can wager on the upcoming action.

Pole sitter Robert Shwartzman isn't getting much love from the sports books but we've got you covered with a longshot pick

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As of race day on Sunday morning, O'Ward (+475) and Palou (+475) are still favored to win, per BetMGM. But two-time defending Indy 500 champ Josef Newgarden jumped ahead of McLaughlin and Dixon and now has the third-best odds to win his third straight Indy 500 at +700 — despite being part of the Team Penske controversy this week.

Patrick Everson breaks down the betting action for the "Greatest Spectacle in Racing," including a rookie in the driver's seat and a two-time champ looking for a three-peat.