As a driver, he started 11 Indianapolis 500 races, scoring a best finish of 7th his rookie year in the 1981 race. He took his trademark No. 16 into team ownership in 1985, initially using March and Lola chassis, then purchasing year-old Penske chassis and then entering and qualifying two new Penskes for the 1993 race. One, number 76, was driven by himself, the other by former Formula One driver Stefan Johansson. A number of successful drivers passed through Bettenhausen's Alumax car, including Johansson for the first few years as well as three-time Indianapolis 500 winner Hélio Castroneves and former IndyCar rookie of the year Patrick Carpentier.