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PointsBet Sportsbook hedges bets with three co-favorites at Road America

PointsBet Road America

LEEDS, AL - APRIL 18: #5: Pato OWard, Arrow McLaren SP Chevrolet during the running of the Honda Indy Grand Prix of Alabama on April 18, 2021 at Barber Motorsports Park in Leeds, AL. (Photo by David J. Griffin/Icon Sportswire via Getty Images)

Icon Sportswire via Getty Images

PointsBet Sportsbook is hedging their bets this week with three drivers as co-favorites for the REV Group Grand Prix at Road America (12 p.m. ET, NBCSN). Perennial favorites Scott Dixon and Josef Newgarden are joined this week by Pato O’Ward with odds of +480.

While Dixon and Newgarden are typically favored each week, O’Ward ranks fourth or fifth many weeks. By becoming the first two-time winner in IndyCar last week at the Detroit GP, his odds were lowered significantly and is a sign of his improved status as the points leader at the halfway mark of the season.

One way to view American Odds is to move the decimal point two positions to the left. That will let a bettor know what they will make on a $1 bet, so the return on investment for this week for each of the three favorites is $4.80. For bettors more comfortable with fractional odds, a bet of +300 is the same as 3/1.

Dixon was the early line favorite last week with odds of +480 for Race 1 and +425 for Race 2. He finished eighth and seventh at Detroit in the two races respectively and has not earned a top-five in his last three races on road or street courses.

Newgarden was listed at +625 for the first race of the Detroit doubleheader, but after winning the pole for Race 2 his odds were lowered to +235. In the second race, he led 67 of the 70 laps before O’Ward passed him in the closing stages. Newgarden held off Alex Palou and Colton Herta to finish second.

O’Ward started last weekend with +700 odds for Race 1. He struggled badly in qualifying and was dropped to +2000, making him one of the best values in the field.

Last year, Road America hosted a doubleheader weekend as the series looked for venues where they could race during the COVID-19 pandemic. Dixon won the first race with Felix Rosenqvist taking Race 2. Rosenqvist will not race this week as he recovers from a hard hit in Race 1 at Detroit.

Kevin Magnussen will take over for him at Road America to make his IndyCar debut. Magnussen is listed with +5000 odds.

Colton Herta is ranked a distant fourth with pre-weekend odds of +775. Herta was in position to win Race 2 last week before a late-race caution allowed the field to catch him and Newgarden. Herta finished fourth.

Will Power and Palou are both listed at +850 and round out the top five.

Palou was on the podium in Race 2 in Detroit, but finished 14th on Saturday.

Power was the driver to beat on Saturday before a controversial red flag allowed his ECU to overheat and relegated him to 20th. He finished sixth on Sunday.

Another driver change this week will be Oliver Askew in for Rinus VeeKay, who injured his collarbone in a bicycling accident. Askew lists with +5000 odds.

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For more betting coverage, check out NBC Sports Edge.