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Betting On Preakness Stakes
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Martin Green
- April 24, 2024
The Preakness Stakes is one of the most exciting races in American horse racing. Known as the middle jewel of the Triple Crown, this race is held at Pimlico Race Course on the third Saturday in May each year. Betting on Preakness Stakes has become almost as popular as the race itself.
Preakness is open to three-year-old Thoroughbred horses and is run just three weeks before the Belmont Stakes. The Preakness Stakes is one of the most prestigious races in the sport of horse racing and is often referred to as the “Run for the Black-Eyed Susans,” as the winner is traditionally draped in a blanket of Maryland’s state flower.
In the wake of the 148th Preakness, our guide covers everything you need to know about the race, including your different betting options and the finishing positions of each of the horses.
Top Preakness Stakes Betting Sites
| SPORTSBOOK | TRUST SCORE | ONLINE SINCE | Expert Review | BONUS |
|---|---|---|---|---|
BetOnline
|
2001 | Read Review | ||
|
Bovada
|
2011 | Read Review | ||
|
Heritage Sports
|
2001 | Read Review | ||
|
Bookmaker
|
1996 | Read Review | ||
|
Everygame
|
1996 | Read Review | ||
|
BetAnySports
|
2002 | Read Review |
Table of Contents
Best Racebooks for Betting on Preakness Stakes
If you’re getting ready to bet on the Preakness Stakes, it’s crucial to remember that relying on reputable horse racing betting sites is key. Our experts have found the top five best options:
- BetOnline – Great Preakness Stakes betting promos
- Bovada – Best welcome bonus for Preakness Stakes bettors
- BookMaker – Offers sharp fixed odds on the Preakness Stakes
- Heritage Sports – Beginner-friendly horse racing betting operator
- BetAnySports – Offers a 10% profit boost on Preakness Stakes winnings
1. Great Preakness Stakes Betting Promotions: BetOnline
Key Features
- Large betting limits on the Preakness
- Quick to pay out
- Great betting promos for horseplayers
BetOnline offers fixed-odds futures on the Preakness Stakes, and you can often bet on matchups between two specific horses too. The odds are impressive, so it is worth adding BetOnline to any comparisons you conduct, and you can win up to $100,000 on this race.
There are some interesting promotions for horse bettors at BetOnline. They include a rebate of up to 9% on any losing bets and a $25 risk-free first bet after you sign up. BetOnline offers same-day payouts too.
2. Best Racebook Welcome Bonus: Bovada
Key Features
- Market-leading odds on some Preakness betting contenders
- Quick payouts via lots of methods
- Excellent sign-up bonus for horseplayers
Bovada is another elite offshore betting site that provides a full-service racebook, a world-class sportsbook, a large casino and America’s largest online poker room. It offers a very similar service to Bookmaker for Preakness Stakes bettors: early fixed-odds futures and a full menu of pari-mutuel bets further down the line, with large win limits.
This site also offers an appealing welcome bonus worth up to $250 on fiat deposits and $750 on crypto deposits. You can use it on horse races, and it has a 5x rollover requirement, which is lower than most rivals. It provides same-day payouts too.
3. Sharp Fixed Odds on the Preakness Stakes: BookMaker
Key Features
- Provides appealing fixed-odds on Preakness futures
- Net profits of up to $100,000 available on the Preakness
- Accepts professional horseplayers and sports bettors
Bookmaker.eu is quick to release fixed-odds futures betting lines on the Preakness Stakes after the Kentucky Derby has concluded. It generally offers better odds than its rivals, so you can maximize your profits by choosing Bookmaker, but it is always beneficial to shop around for the best odds on an individual horse.
This horse racing betting site accepts all players, including professionals, and it does not limit winning players. It is a highly reputable and trusted betting site with an excellent sportsbook, and it pays out quickly. You will be paid at full track odds from Pimlico Race Course on pari-mutuel wagers, but Bookmaker is not part of the pari-mutuel pools, so your bets will not affect them.
4. Beginner-Friendly Preakness Stakes Betting Site: Heritage Sports
Key Features
- Very easy-to-use site for novice horseplayers
- Excellent customer service if you need assistance
- Trusted betting site that never misses a payout
Heritage Sports is our top choice for newcomers to betting on Triple Crown races such as the Preakness Stakes. It makes the entire process very easy, from signing up and making a deposit to placing your bets and getting paid out.
The mobile racebook is user-friendly too, so it is great for placing last-minute bets on the day of the race. It offers lower maximum win limits than Bookmaker, so it is more suited to casual players, but five-figure payouts are still available.
5. Get a 10% Profit Boost on Preakness Stakes Winnings: BetAnySports
Key Features
- Pays customers 10% extra on winning Preakness bets
- Very competitive rebate program
- Pays out up to $100,000 quickly and reliably
BetAnySports offers a package called Racebook+, which will earn you a 10% boost on the track odds displayed for any pari-mutuel bet. For example, if your Preakness Stakes wager would pay out $800, you can look forward to an $880 return.
There is an alternative rebate program, which gives you 6% cash back on all horse racing bets placed – win or lose. BetAnySports also pays out up to $100,000 on the Preakness, and it is another easy-to-use site with reliable withdrawals and strong customer service.
2023 Preakness Stakes Horses & Jockey Silks
Post positions for the 148th Preakness Stakes were finally revealed on May 17, 2023. Very little compares to watching the horse you bet on break from the post and barrel toward the finish line with all its might.
In a race, the jockeys will always wear the horse owner’s silks. Owners’ silks never change and there is a special registration process to ensure that each one is unique. This is especially perfect for when these horses appear in other Triple Crown events like the Belmont Stakes or Kentucky Derby; you can easily identify every single horse on the field.
Below, you’ll find the horses for the 2023 Preakness Stakes in alphabetical order.
Blazing Seven
Post Position: 7
Jockey: Irad Ortiz Jr.
Trainer: Chad Brown
Owner(s): Rodeo Creek Racing LLC
Silks Description: Royal blue with “RCR” & a racehorse printed in white inside white ring, royal blue & white blocked sleeves and a royal blue cap.
Placed: 2nd.
Chase the Chaos
Post Position: 2
Jockey: Sheldon Russell
Trainer: Ed Moger Jr.
Owner(s): Adam Ference and Bill Dory
Silks Description: White, blue “AWARENESS” and “ACCEPTANCE” surrounding square of multicolor puzzle pieces, blue “AUTISM” on sleeves, blue cuffs & collar, along with blue cap.
Placed: 5th.
Coffeewithchris
Post Position: 4
Jockey: Jaime Rodriguez
Trainer: John Salzman, Jr.
Owner(s): John Salzman Jr.
Silks Description: Black, featuring an orange “S” inside a white diamond, with orange chevrons on sleeves and a black cap.
Placed: 7th.
First Mission
Post Position: 8
Jockey: Luis Saez
Trainer: Brad Cox
Owner(s): Godolphin LLC
Silks Description: Royal blue with a royal blue cap.
Placed: Scratched from race.
Mage – Winner of the Kentucky Derby
Post Position: 3
Jockey: Javier Castellano
Trainer: Gustavo Delgado
Owner(s): OGMA Investments, Ramiro Restrepo, Sterling Racing and CMNWLTH
Silks Description: Sky blue with a white vertical stripe, sky blue & white striped sleeves and a sky blue cap.
Placed: 3rd.
National Treasure
Post Position: 1
Jockey: John Velazquez
Trainer: Bob Baffert
Owner(s): SF Racing LLC, Starlight Racing, Madaket Stables, Robert E. Masterson, Stonestreet Stables LLC, Jay A. Schoenfarber, Waves Edge Capital LLC and Catherine Donovan
Silks Description: Light blue, pink belt, pink band on sleeves and a light blue cap.
Placed: 1st.
Perform
Post Position: 6
Jockey: Feargal Lynch
Trainer: Shug McGaughey
Owner(s): Woodford Racing LLC, Lanes End Farm, Phipps Stable, Ken Langone and Edward J. Hudson Jr.
Silks Description: Pink with royal blue chevrons, royal blue chevrons on sleeves and a pink cap.
Placed: 6th.
Red Route One
Post Position: 5
Jockey: Joel Rosario
Trainer: Steven Asmussen
Owner(s): Ron Winchell
Silks Description: Maroon with a white “W” in a circle and white bars on sleeves, worn with a white cap.
Placed: 4th.
Preakness Stakes Post Time
The post time for the 148th Preakness Stakes was 7:01 P.M. EST on May 20, 2023.
It was televised across multiple platforms, like Peacock and NBC Sports. Many online betting sites also offered live streaming of the races so bettors could watch in real time.
Now that the race is over, replays will be widely available across the web.
How To Read The Preakness Stakes Odds
Early betting odds on the Preakness Stakes are displayed in the American format. They begin with a plus, and the numbers highlight the profit available on a winning $100 wager. For example, if a horse racing betting site offers +550, a $100 bet would yield a $550 profit if that horse were to win.
The official track handicapper at Pimlico Race Course will then provide Morning Line odds on the day of the race. These are the handicappers’ best guesses at the pari-mutuel payouts that will be available on each horse if he or she wins. Bets such as the win, place, show and exacta on the day of the race are calculated on a pari-mutuel basis, whereby all the money wagered is divided among bettors with winning tickets, and a dividend will highlight your total return from a $1, $2 or $0.50 bet.
Preakness Stakes Betting Markets Available
On race day, horseplayers have the opportunity to place several different types of bets.
Here is a look at some of the most common bets on horses:
- Win: A bet on the horse that will finish the race in the fastest time.
- Place: A bet on a horse to finish first or second, in either place.
- Show: A bet on a horse to finish first, second or third.
- Exacta: A bet on the winning horse and the runner-up, in that exact order.
- Trifecta: A bet on the winner, runner-up and third-place horse.
- Superfecta: A bet on the first four horses to finish the race.
- Pick 3: Pick the winner of three consecutive races.
When will horses be selected for the Preakness Stakes?
Post positions for the Preakness Stakes were selected on May 17, 2023.
Post positions for Triple Crown horse races such as the Kentucky Derby, Preakness Stakes, and Belmont Stakes are determined through a random draw that takes place a few days before the race.
The post position draw typically involves numbered pills that are placed into a machine, like in a raffle or lottery drawing. Representatives of each horse draw pills at random to determine the order in which the horses get to select their post position.
The first horse to draw selects their preferred post position, and the process continues until all the horses have selected their position. The order in which horses select their post position is determined by the order in which they drew their pills.
Preakness Stakes Betting Tips
As the second leg of the Triple Crown, the Preakness Stakes attracts the best horses, trainers and jockeys from around the world.
To increase your chances of making informed betting decisions, consider these tips when placing your bets on the Preakness Stakes.
- Consider inside post positions: Six out of nine Preakness winners in recent years came from the first half of the field, so it might be advantageous to consider horses starting from inside post positions.
- Look for pacesetters and speed horses: Late closers have historically struggled at the Preakness Stakes, so focus on horses with a history of setting the pace or displaying impressive speed.
- Don’t overlook double-digit winners: Six out of ten Preakness winners in the last decade were double-digit odds, so it’s important not to just focus on the favorite when placing your bets.
- Focus on proven Stakes winners: The majority of recent Preakness winners had already won a graded Stakes and a significant number of them had won a Grade 1 race. Therefore, look for horses with a proven track record in Stakes races.
- Consider the trainer and jockey: A horse’s success can also depend on its trainer and jockey, so look for trainers and jockeys with a proven track record in big races.
- Pay attention to recent form: Horses that have been performing well in recent races may be more likely to continue their winning form at the Preakness Stakes, while horses with poor recent form may struggle.
- Look for horses with experience: Inexperience can be a disadvantage at the Preakness Stakes, so horses that have raced in big fields and on different tracks may be better equipped to handle the pressure and challenges of the race.
- Consider the distance: The Preakness Stakes is a 1 3/16 mile race, shorter than the Kentucky Derby, so some horses may excel at shorter distances, while others may prefer longer races.
- Be aware of the track conditions: The track conditions on race day can affect the performance of the horses, so look for horses that have experience running on similar track conditions to those expected at the Preakness Stakes.
By keeping these tips in mind, horse bettors can make more informed decisions when placing their bets on the Run for the Black-Eyed Susans.
Exploring the History of the Preakness
The Preakness Stakes is one of the most important and exciting horse racing events in the United States. This historic race takes place at Pimlico Race Course in Baltimore, Maryland, and is the second leg of the Triple Crown, following the Kentucky Derby by just two short weeks.
The race gets its name from the first three-year-old colt to win the race at Pimlico, which was called the Dinner Party Stakes at the time.
The Preakness Stakes has been run annually since 1873 and has seen some of the biggest names in horse racing history compete for the coveted title. Like the Kentucky Derby, the Preakness Stakes has become a symbol of tradition and the second jewel of the Triple Crown is also known for its unique celebratory customs; one of the most iconic traditions is the painting of the iconic “Old Hilltop” weather vane in the colors of the winning horse’s silks.
The Preakness Stakes is also a major event for horse racing bettors, who have been placing bets on the race for over a century. With the rise of online horse race betting, betting on the Preakness Stakes has never been more convenient. Bettors can easily compare odds from the best online racebooks in one place, and take advantage of exciting bonuses and betting promotions offered by reputable horse racing betting sites.
One of the most popular types of bets for the Preakness Stakes is the exacta, where bettors must correctly predict the horses that finish in first and second place.
As the Preakness Stakes continues to grow in popularity, it will be exciting to see how the world of online horse race betting will evolve. With the rise of new technologies and the expansion of online betting platforms, horse racing fans around the world can now participate in this historic and exciting event no matter where they are.
FAQs – Preakness Stakes Betting Guide
How do I place a bet on the Preakness?
It is easy to get in on the betting action for the 148th Preakness Stakes. Simply register at one of the top-rated online horse betting sites and make your initial deposit. Now, you are ready to fill out a bet slip.
When can you place bets for Preakness?
Most online horse betting sites begin taking wagering action after the drawing of the post positions takes place. For this Preakness Day, the drawing was held on Wednesday, May 17.
How many horses are in the Preakness?
The number of horses that run the main race on Preakness Day varies from year to year, with a maximum of 14 horses running at a given time.
Can any horse enter the Preakness?
Eligibility to run is determined by earnings in past races throughout a horse’s career. Automatic qualification is given to the winners of the Kentucky Derby, Federico Tesio Stakes, Oaklawn Invitational and the El Camino Real Derby.
Has a female horse won the Preakness?
Since 1873, only six fillies have won the Preakness, with the most recent one taking place at the October 2020 race at Pimlico; Swiss Skydiver finished with a time of 1:53.28 and took a purse of $1,050,000.
Is Preakness bigger than Kentucky Derby?
The Pimlico Racecourse is 9.5 furlongs, which puts it at just one-sixteenth of a mile shorter than the Kentucky Derby, which takes place at Churchill Downs.
