2021 Preakness Odds: Race Betting Preview

The 146th running of the Preakness Stakes (G1) is almost here after a crazy aftermath to the Kentucky Derby that included the winner reportedly testing positive for a therapeutic drug in his system that could lead to a disqualification.

Now a field of 10 will line up in Baltimore at Pimlico Race Course for the second jewel of the Triple Crown with three runners exiting the Derby, including winner Medina Spirit, and seven new shooters looking to snuff out the Triple Crown hopes of the Derby winner on the racetrack instead of the testing lab.

And here we thought 2020 was a strange year.

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2021 Preakness Stakes Odds and Favorites

Odds as of May 14 at Bovada

What are the Odds for the Preakness?

Bettors looking to get in an early wager on the Preakness Stakes are seeing Kentucky Derby winner Medina Spirit and Concert Tour as current co-favorites at +200 in the latest 2021 Preakness odds released by Bovada.

A $100 win wager would make a $200 profit on either of the Bob Baffert trainees and according to the odds gives each a 33 percent implied probability of winning the race. With eight other runners in the field, is there value to be found elsewhere?

Who are the Major Contenders for the Preakness?

There is little doubt the race goes through Baffert. Medina Spirit took the Kentucky Derby field gate to wire with a career-best effort, and despite the controversy surrounding the post-race test, Baffert knows how to bring a Derby winner into the Preakness and run another big race off just a two-week break. Baffert has won the Preakness a record-tying seven times.

Baffert’s Concert Tour skipped the Kentucky Derby after coming up short in the Arkansas Derby in his final prep where he checked in third as the beaten favorite. The colt won the Rebel (G2) at Oaklawn Park in his previous outing, taking the field gate to wire.

Both of the Baffert trainees have a similar running style, which begs the question of whether they battle for the early lead and set the race up for another contender who will be a more generous price.

Is a Shot of Bourbon Possible?

One of those contenders is Midnight Bourbon, who is currently at +600 in early Preakness odds at Bovada, the third choice in the field of 10. The colt is one of just two (Keepmeinmind is the other) that are wheeling back and attempting to turn the tables on Kentucky Derby winner Medina Spirit.

Not including last year when the Preakness was run in October, 16 of the last 19 Preakness winners competed in the Kentucky Derby.

Midnight Bourbon was forecast to be in the mix early in the Derby but was bumped around coming out of the gate and checked in sixth. He certainly appears likely to improve off his last outing with a better start.

Not far after in the early Preakness odds at Bovada is the Chad Brown-trained Crowded Trade at +1200. The colt finished evenly in a third-place finish in the Wood Memorial (G2) in just his third career start. The two that finished in front of him that day were Bourbonic and Dynamic One, who both ran poorly in the Derby, checking in 13th and 18th respectively.

Another new shooter is Rombauer at +1600 in current Preakness odds. The colt was third in the Blue Grass (G2) in his last start and has not won over a conventional dirt surface. He broke his maiden on turf and won the El Camino Real Derby at Golden Gate Fields on a synthetic surface called Tapeta.

Who are the Long Shots in Preakness Odds?

Going back 24 years (not including last year), we have seen 14 betting favorites win the Preakness, a solid 41 percent win clip, with the second choice in the wagering winning nine times. We have seen a few upsets as well. Since 2006, there have been five winners pay $25 or more, including in 2017 with Cloud Computing – a colt that had skipped the Derby – returning $28.80.

Among the long shots in odds to win the Preakness Stakes is Risk Taking at +800 at Bovada. The colt is the second runner that will be saddled by Chad Brown. The colt was a disappointing seventh in the Wood Memorial after winning the Withers (G3) at Aqueduct in his stakes debut.

Unbridled Honor (+2500) will be sent out by trainer Todd Pletcher, who holds the all-time record for most Kentucky Derby starters but has started just nine in the Preakness, his best finish a third with Impeachment in 2000.

This colt caught a sloppy track in the Lexington (G2) at Keeneland last out where he rallied for the runner-up spot. He was fourth in the Tampa Bay Derby (G2) two back in his stakes debut. He would benefit if the two Baffert runners hook up early.

Can Keepmeinmind Improve Off His Derby Effort?

Keepmeinmind (+2000) is the third runner in the field that comes back in two weeks after running in the Derby where he checked in a non-threatening seventh. A winner of the Kentucky Jockey Club (G2) last year, he just has not moved forward in his sophomore year.

Ram (+5000) will be sent out by Hall of Fame trainer D. Wayne Lukas, who has won the Preakness six times, most recently with Oxbow in 2013. His contender this year took eight tries just to break his maiden and then he beat first-level allowance company in his last outing. He looks badly overmatched.

Also in the field is the intriguing Japanese invader France Go de Ina, currently listed at +3300 in Preakness Stakes odds at Bovada. The colt won two races at Hanshin Racecourse in Japan and was sixth in the UAE Derby (G2) in Dubai back in March. This colt would be a big surprise.

The second jewel of the Triple Crown has a post time of 6:47 p.m. ET as the 13th race on a 14-race card at Pimlico on Saturday. The NBC Sports Network will cover the earlier races and NBC will cover the Preakness Stakes, the 2½-hour telecast getting underway at 5 p.m. ET.