Betting on Preakness Stakes – Discover How to Make the Best Bets for Maximum Winnings
Welcome to our exclusive Preakness Stakes betting guide! Once you’ve finished reading this page, you’ll be well-equipped to find the best Preakness Stakes odds online and make the best bets for Preakness Stakes profits.
Everything you need for the best Preakness Stakes bets
The Preakness Stakes is the second jewel of the Triple Crown of Thoroughbred Racing, a series that begins with the Kentucky Derby and concludes with the Belmont Stakes in New York. A Grade 1 stakes race at 1 3/16 miles (9 1/2 furlongs) on dirt, it offers a purse of $2 million, one of the richest of the year. Up to fourteen of the best three-year-old Thoroughbred horses in the United States square off, and after less than two minutes we know where there will be a Triple Crown on the line, or if a new face has joined the elite three-year-old horses of the year.
The 2024 Preakness Stakes will happen on Saturday, May 18 at Pimlico Race Course: its usual time on the calendar, two weeks after the Kentucky Derby. This will give you all you need to know in order to play the Preakness Stakes like an expert!
Preakness Betting Sites
You can bet the Preakness Stakes from the racetrack, an off-track betting shop (OTB), or a Las Vegas casino. However, millions of people have begun to enjoy the convenience and safety of betting the Preakness Stakes online from their own homes. Online betting, Preakness Stakes day and beyond, makes it easier and more fun to make a profit on horse races and sports!
This is the first part of our Preakness Stakes betting guide. We present to you the best sites for betting the Preakness online:
Preakness Betting Resources
Once you have chosen the best racebook for betting on Preakness Stakes horses, the next step is to learn some basic Preakness Stakes betting tips. If you need to learn, or if you would like a refresher to make sure you are as sharp as possible before you place your Preakness bets, read these articles on how to bet the Preakness Stakes and other major races:
Las Vegas Preakness Stakes Betting Odds
Preakness Stakes betting odds begin to appear as the race gets closer. It takes a few days after the Kentucky Derby for horses to recover from the race, and for their trainers to decide whether they can move on to race again in just two weeks. This is current as of April 25, 2024, though odds will be created and changed as the Preakness draws closer.
| Preakness Stakes odds 2024 |  |  |  |
| Mage | +140 | +140 | +150 |
| National Treasure | +250 | +265 | +250 |
| Blazing Sevens | +500 | +450 | +450 |
| Red Route One | +800 | +800 | +800 |
| Perform | +800 | +800 | +800 |
| Chase the Chaos | +1000 | +1000 | +1000 |
| Coffeewithchris | +1000 | +1200 | +1000 |
Latest Free Preakness Stakes Picks
The picture of Preakness Stakes contenders tends to take shape in the week after the Kentucky Derby. After the Run for the Roses, trainers will decide which horses are in a position to wheel back in two weeks and run well.
Trainers will also decide who needs a rest after a grueling Triple Crown prep season. Sometimes horses get tired, or sometimes they will suffer injuries during training or racing in the Kentucky Derby, and need to take some time off to recover. With the Kentucky Derby and the Preakness Stakes so close together, it is no wonder that starting in the Preakness can be such a game-time decision.
There are typically two sets of horses who run in the Preakness: Kentucky Derby runners and new shooters. Even the new shooters usually do not become clear until after the Kentucky Derby, as trainers decide which of their horses are ready to face Triple Crown-quality horses.
In both categories, you see some of the best three-year-old Thoroughbred horses in the country.
Kentucky Derby Runners in the Preakness
Even though the Preakness handicapping begins in earnest after the Kentucky Derby and morning line odds do not get published until the week of the race, horseplayers can still get a head start on the second leg of the Triple Crown by meeting the major contenders from the Kentucky Derby and other known Preakness prep races.
Typically, the winner of the Kentucky Derby comes back to run in the Preakness Stakes. The early favorites include 2023 champion juvenile Fierceness for Todd Pletcher, as well as Blue Grass Stakes winner Sierra Leone for Chad Brown. These horses are battling for favoritism in Kentucky Derby futures books, and one of them will surely be the betting favorite on the first Saturday in May.
Other major contenders in the Kentucky Derby include Santa Anita Derby winner Stronghold, UAE Derby winner Forever Young, Smarty Jones Stakes and Louisiana Derby winner Catching Freedom, and Blue Grass second-place finisher Just a Touch. Should any of these horses win the Kentucky Derby, or even run well, they will be among the betting favorites for the Preakness.
Preakness New Shooters
The other set of horses who run in the Preakness Stakes are horses who did not run in Kentucky and end up pointing directly to the run for the black-eyed susans.
Muth, the Arkansas Derby winner, has a strong chance of being the Preakness favorite even though he is bypassing the run for the roses. He is trained by Bob Baffert, who leads all trainers with eight Preakness Stakes wins. However, Baffert remains ineligible for the Kentucky Derby due to a ban at Churchill Downs. He can run at any track Churchill does not own, though, and Muth’s form in California and Arkansas makes it clear that he is a top-tier sophomore.
Other horses have earned bids to the Preakness by winning other races. Endlessly was the first to win a Preakness bid in the El Camino Real — he is trained by Michael McCarthy, who used the El Camino Real route to train up Rombauer for a 2021 Preakness win. However, Endlessly is expected to go to the Kentucky Derby after winning the Jeff Ruby at Turfway.
Other horses who have earned bids to the Preakness in other races include Informed Patriot, who won the Bath House Row at Oaklawn, and Copper Tax, winner of the Federico Tesio at Laurel Park. Patriot Spirit also earned $20,000 toward a Preakness entry with a win in the Illinois Derby at Hawthorne, though he will need to be nominated late to the Triple Crown to take advantage.
Best Preakness Stakes Betting Sites
Choosing the best site to bet on the Preakness Stakes can be challenging, as there are so many online sportsbooks and racebooks to choose from. Fortunately, our experts have done the work to test and review these sportsbooks, and recommend the ones that offer bettors the best odds, features, and bonuses.
These are the best sportsbooks for betting the 2023 Preakness Stakes online. They are all trusted websites with excellent user interfaces, and they offer players a wide range of incentives including rebates, deposit bonuses, and other lucrative betting promos.
Why do We Choose these Horse Racing Betting Sites?
The Preakness Stakes is one of the best betting opportunities of the year, so it is important to have the best odds from a sportsbook you can trust. Whether you are just getting started betting horse racing or have been playing horses your entire life and are shifting to modern online betting, finding an easy-to-use sportsbook that you can trust can be difficult. Expert analysis and insight helps.
We have vetted these sites, and these are the sportsbooks that offer what you offer what you need to make betting the Preakness fun and profitable. These sportsbooks are trustworthy, easy-to-use, and always offer true Vegas odds on Preakness Stakes contenders. This means you can sign up for our top sportsbooks and be confident that you will have the best experience with horse racing and sports betting all year long.
How to Bet on the Preakness Stakes — Top Tips to Win
First, you need to know the best Preakness Stakes betting sites and odds. However, once you have that information, it helps to know a few hot Preakness trends in order to help you narrow down your betting opportunities and select the right horse. So, if you find a top sportsbook that is offering you better odds than you think the horse should have, you can feel confident about betting them!
Favorites
Favorites typically run well in the Preakness Stakes. They have won the race almost exactly half the time, making it the most friendly to favorites among the three American Triple Crown races. Second betting choices also often do well in the Preakness; most recently, 2023 winner National Treasure was the second choice on the tote board, holding by a margin of victory of just a head over a well-prepared Blazing Sevens.
Favorites do not always win; for example, 2020 Preakness winner Swiss Skydiver paid a lucrative 11-1 on a win bet. But, even then, the favorite Authentic was the runner-up. Often, playing some longshots around the favorite in exacta, trifecta, or superfecta wagers can be your key to cashing a nice Preakness ticket.
Running Style
Tactical speed is good to see in the Preakness If a horse looks like they can get lone speed, it is a good idea to move them up in your handicapping. If there appears to be a contested pace, it isn’t impossible for a horse to come from behind, but consider a horse who can get first run on the truly deep closers.
Preakness Stakes Trainers and Preakness Stakes Jockeys
You can often depend on trainers and jockeys who have done well at the Preakness in the past to do well on race day in future years. Trainer Bob Baffert has won eight times, the most in Preakness Stakes history. Baffert won his most recent Preakness in 2023, when National Treasure beat Blazing Sevens and Kentucky Derby winner Mage to take the blanket of black-eyed susans.
Active jockeys who have won multiple editions of the Preakness include three-time winners Kent Desormeaux and Victor Espinoza, and two-time winners Javier Castellano and Mike Smith. A jockey who has won the Preakness multiple times is often a good bet because he knows how to get the best out of a horse going 1 3/16 miles at Pimlico.
Post Positions
Take the post draw in the Preakness Stakes seriously. More horses have won from the 6 post than any other, with 16 Preakness winners coming from that gate. Post positions 4 and 7 have also been very successful in the Preakness. It makes sense that the middle post positions have been so good in the Preakness. In a field of up to 14, drawing the rail can make it difficult for a horse to work out a good, clean trip. But, drawing a far outside post position can mean a horse loses ground on the turn, or has to hustle hard to get a good position up near the pace.
Weather
The Preakness Stakes is run in the middle of May. It often gets rainy in Baltimore, Maryland at Pimlico during the spring. This means you should check the weather in the week leading into the Preakness Stakes, and the days leading into the race. If it is rainy, look for horses who run well in the mud. That may be clear from their past performances if they have run in the mud before.
If they have not run in the mud yet, pedigree can provide a clue to how well they will handle the mud. Find out whether any of their parents or siblings ran well in the mud, or whether they are closely related to excellent sloppy-track stallions like Speightstown, Distorted Humor, or Bernardini. On a rainy day, finding out how a horse is likely to do in the slop can help you find a good longshot.
Preakness Stakes Odds Explained
Depending on the racebook you choose, you may see Preakness Stakes odds in three major formats. Here is an explanation of the different formats:
- American (+500): These are similar to what you see in American sportsbooks when betting other sports, and denote how much you win, but do not take into account getting back your initial stake. +500 means that for a winning $1 bet, you win $5. Add back your $1 initial stake, for a total payout of $6.
- Fractional (5/1): These are similar to what you see if you are betting a race at a racetrack. 5/1 denotes, in fractional form, how much money you win, but not your initial stake. So, for a winning $1 bet at 5/1, you get back $5 in profit plus your $1 stake, for a total payout of $6.
- Decimal (6.00): Decimal odds reflect both the winnings and the returned stake together in one number. So, a winning $1 bet with 6.00 decimal odds means you get back a total payout of $6: including the $5 profit plus the $1 initial stake.
Keeping these formats in mind will help you know for sure what odds each sportsbook is giving you on your Preakness pick!
