Britain's Dario Franchitti won the Indianapolis 500 on Sunday after a risky fuel strategy paid off at a rain-hit Brickyard on Sunday.

After a cut tyre forced Franchitti into an early pitstop, his team loaded the Scotsman's car with a full fuel load, gambling he would be able to stay out until until the next rain delay while his rivals would have to pit.

With storm clouds closing in on the 2.5 mile oval, a multi-car crash involving Franchitti's team mate Marco Andretti sealed the win for the Scotsman as driving rains brought out the chequered flag with 166 of the scheduled 200 laps completed.

"We rolled the dice (on our pit strategy)," Franchitti told reporters. "I can't believe it, to be a member of this club is fantastic.

"When I first came here I didn't understand what this race meant. Now I think I have half an idea of what it means to win this race."

New Zealand's Scott Dixon and twice champion Helio Castroneves of Brazil avoided the late carnage to finish second and third.

It was long day at the Brickyard for the 33 drivers and 300,000 spectators, who endured a three-hour rain delay just as the race passed the midway point.

Franchitti moved to the front on lap 155 after leader Tony Kanaan and defending champion Sam Hornish Jr. were forced to make late pitstops for fuel.

The 34-year-old Scot steered clear of a series of late crashes that brought out caution flags, allowing him to conserve fuel as the rains steadily approached.

Franchitti crossed the finish line in driving rain before pulling into Victory Lane where he was greeted by a kiss from his actress wife Ashley Judd.

Franchitti became the fifth Briton, and second Scot after Jim Clark, to lift the Borg-Warner trophy.

Three women started the race for the first time in its history.

Americans Danica Patrick finished eighth and Sarah Fisher 18th. Venezuelan rookie Milka Duno's first 500 came to crunching end on lap 66 when she lost control entering turn one and slammed into the wall.