His first oval win netted him 3.8 million USD (5.8 million AUD) from a 20.2 million USD (31.1 million AUD) prize pool.

The average payout for drivers was 596,500 USD (917,000 AUD), exceeding last year’s average of 543,000 USD (836,000 AUD)

This year’s purse increased from 18.4 million USD (28.3 million AUD). Last year’s winner payout was 4.3 million USD (6.6 million AUD) and included a 440,000 USD (678,000 AUD) rollover bonus from Borg Warner for earning back-to-back wins.

“The Indianapolis 500 is the greatest race in the world, and winning this race makes history in more ways than one,” IndyCar and Indianapolis Motor Speedway president Doug Boles said.

“The Month of May featured a grandstand sellout crowd and intense on-track action. Alex Palou adds Indianapolis 500 winner to his long list of growing achievements and takes home the largest purse in Indianapolis 500 history. There’s no better way to end an epic month.”

There was little doubt about who would be crowned the Rookie of the Year after Robert Shwartzman took pole position for Prema Racing in his first Indianapolis 500 start.

It also represented his first start on an oval.

Unfortunately, the 25-year-old failed to finish after a crash on pit lane caused by a brake failure ended his day early.

With his Rookie of the Year win, he adds 50,000 USD (77,000 AUD) to his earnings, which total 327,000 USD (503,000 AUD).

According to IndyCar: “The Indianapolis 500 purse consists of Indianapolis Motor Speedway and NTT IndyCar Series awards, plus other designated and special awards.

“Purse awards are presented annually at the Victory Celebration, held this year at the JW Marriott in downtown Indianapolis Monday night.”

IndyCar resumes its season in downtown Detroit on June 2 (AEST).