How To Bet The Preakness Stakes

This year’s third leg of horse racing’s Triple Crown, the 145th Preakness Stakes race, will be run on Saturday, October 3, 2020, at Pimlico Race Course in Baltimore, Maryland. And while there won’t be a Triple Crown winner this year, there are many wagers to be made online for this Grade 1 thoroughbred racing event.

For the first time ever, the Preakness Stakes will be run after the Belmont Stakes and the Kentucky Derby due to COVID-19. The Belmont Stakes was rescheduled for June 20, and the Kentucky Derby was moved to September 5 because of the coronavirus pandemic.

The Preakness Stakes will be run over a distance of 1 3/16 miles (9.5 furlongs) with a purse of around $1.5 million.

How Can I Bet On The Preakness Stakes Online?

#1: Pick a Racebook

Racebooks are the online betting sites you visit so that you can wager on horse racing. All of Odds Shark’s Preakness Stakes gambling sites are safe, secure, trustworthy and meet all of our criteria. There are plenty of places to bet online for the Preakness Stakes. Have a glance at our horse racing sites page and choose the racebook that suits your preferences.

Our Favorite Horse Betting Sites

#2: Sign Up

Registering is easy peasy. Type in your name, email address, deposit info and birthdate. You’ll be sent a confirmation email or link. Once the registration process is completed, you’ll be able to make your first Preakness Stakes wager.

#3: Make a Deposit

Next is deciding on a deposit method. Almost all online sportsbooks accept credit cards (Visa, Mastercard, AMEX), e-wallets (PayPal, Neteller, Skrill), and debit. Many online sports betting sites will allow you to make deposits by taking cryptocurrency. Some online gambling sites will also take Bitcoin, Litecoin, Dash and Ethereum.

#4: Place Bet On Preakness Stakes

Pick the track of Pimlico Race Course, the horse race number of the Preakness Stakes, your horse and your bet type. Enter in your dollar amount and submit your Preakness Stakes ticket.

You’re on the last leg. Now decide on a listed racebook and wager on the Preakness Stakes!

How Do Preakness Stakes Odds Work?

You can view 2020 Preakness Stakes betting odds at Bodog. Odds on Preakness Stakes contenders will look like this:

The horse with the lowest odds (Authentic +150) is favored to win the Preakness Stakes, while the other horses are all considered underdogs.

If you think Authentic will win the Preakness Stakes and you wager $100 on that horse, you’d get a payout of $250. You would receive your $100 back in addition to your winnings of $150. Our Odds Calculator shows you how much you’d win based on the odds and the amount wagered.

Preakness Stakes History: Betting Odds and Preakness Winners

How Can I Bet On The Preakness Stakes?

If you’re looking for all the different ways you can win big by betting on the Preakness Stakes online, you’re in luck. Let’s look at some Preakness Stakes betting tips and options below.

Straight Bet: Win, Place, Show

If you’re looking to bet on the Preakness Stakes, but you don’t know how to bet on the Preakness Stakes or where to bet on the Preakness Stakes, win, place, show is best suited for beginner horse bettors. Win, Place and Show are common Preakness Stakes bets you can make on a horse to win or finish in the top three of the Preakness Stakes.

Win Betting

A win bet is a bet on a horse to finish in first place at the Preakness Stakes.

Place Betting

A place bet is a bet on a horse to finish in first or second place at the Preakness Stakes.

Show Betting

A show bet is a bet on a horse to finish in the money, third or better at the Preakness Stakes.

Across the Board

An across the board wager is a bet on a horse to win, place and show at the Preakness Stakes. If the horse wins, the bettor collects three ways (win, place and show). If the horse comes in second, the bettor collects two ways (place and show). And if the horse comes in third, the bettor collects one way (show), missing out on the win and place wagers.

The across the board bet is like a parlay bet in other sports. It’s pretty much three wagers combined on one big Preakness Stakes ticket. In parlay betting, you could wager on:

Preakness Stakes Horse Matchup Wagering

Instead of handicapping a field of 13 horses and trying to pick a winner, matchups consist of two horses in the field, with a moneyline that’s comparable to what you’d find in other team sports. With match races, you wager on the horse you think will finish ahead of the other horse. It does not matter if that horse wins.

Preakness Stakes Futures Betting

A Preakness Stakes futures wager is when you bet on a winner several weeks or months ahead of a big event. Horseplayers can get their Preakness Stakes betting action down early, and at fixed and often generous odds.

Daily Double Wagering

A daily double bet is a wager where bettors pick the winner of two straight races.

Exacta Bets

An exacta bet, or a perfecta bet, is a wager where bettors pick the top two finishers in the exact order at the Preakness Stakes.

Trifecta Box Betting

A trifecta bet is a wager in which the first three finishers must be selected in exact order at the Preakness Stakes.

Pick 3, Pick 4 and Pick 6

Pick 3, Pick 4, Pick 6 betting is a form of multi-race bet. A Pick 3 wager means you have to pick the winner of three races in a row. A Pick 4 wager means you have to predict four successive winners, and a Pick 6 wager means you need to pick the winner of six straight races.

Quinella Wagering

A quinella wager is a bet in which the first two finishers at the Preakness Stakes must be picked in either order. It’s like an exacta wager only it doesn’t matter what order the two horses you pick come in at the Preakness Stakes.