How To Bet On The Preakness Stakes: Preakness Betting Guide
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:
- Authentic +150
- Art Collector +350
- Tiz the Law +400
- King Guillermo +1000
- Thousand Words +1400
- Happy Saver +2000
- Mr. Big News +2000
- Mystic Guide +2000
- Pneumatic +2000
- Dr. Post +2200
- Liveyourbeastlife +3300
- Azul Coast +5000
- Mongolian Wind +6600
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
| Year | Winner | Jockey | Trainer | Odds | Time |
|---|---|---|---|---|---|
| 2019 | War of Will | Tyler Gaffalione | Mark E. Casse | +600 | 1:54:34 |
| 2018 | Justify | Mike E. Smith | Bob Baffert | -200 | 1:55:93 |
| 2017 | Cloud Computing | Javier Castellano | Chad Brown | +1300 | 1:55:98 |
| 2016 | Exaggerator | Kent Desormeaux | Keith Desormeaux | +300 | 1:58:31 |
| 2015 | American Pharoah | Victor Espinoza | Bob Baffert | -125 | 1:58:46 |
| 2014 | California Chrome | Victor Espinoza | Art Sherman | -167 | 1:54.84 |
| 2013 | Oxbow | Gary Stevens | D. W. Lukas | +1500 | 1:57.54 |
| 2012 | I'll Have Another | Mario Gutierrez | Doug O'Neill | +300 | 1:55.94 |
| 2011 | Shackleford | Jesus Castanon | Dale Romans | +1200 | 1:56.47 |
| 2010 | Lookin at Lucky | Martin Garcia | Bob Baffert | +200 | 1:55.47 |
| 2009 | Rachel Alexandra | Calvin Borel | Steve Asmussen | +180 | 1:55.08 |
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:
- • Will the winning horse be brown or white at the Preakness Stakes?
- • How old will the winning jockey be at the Preakness Stakes?
- • What post position will the winning horse start from at the Preakness Stakes?
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.
Preakness Stakes Betting FAQ
Can I bet on the Preakness Stakes?
Yes, you can bet on the Preakness Stakes. You can choose from Straight Bets like Win, Place, Show, and Across the Board. Preakness Stakes betting also offers horse matchup wagering, futures bets, Pick 3, Pick 4 and Pick 6 betting. You can make Daily Double bets, and exotic wagers such as Exacta Bets, Trifecta bets, and Quinella bets.
How many horses run in the Preakness Stakes?
In 2020, there was a strong field of 11 three-year-old thoroughbreds in the 146th running of the Preakness Stakes. The makeup of the field typically isn’t known until after the running of the Kentucky Derby. The first running of the Preakness Stakes in 1873 saw a field of seven horses line up at the start.
How long is the Preakness Stakes?
The Preakness Stakes horse race runs 1 3⁄16 miles or 9.5 furlongs around the dirt track at Pimlico Race Course in Baltimore, Maryland. Since its first race all the way back in 1873, the Preakness Stakes has been run at seven different distances from 1 1⁄2 miles to 1 3⁄16 miles.