How To Bet on the Preakness Stakes Race

67 7 0 May 16, 2023

Table of Content

What Is the Preakness Stakes Race
How Can I Bet On The Preakness Stakes Online?
How Do Preakness Stakes Odds Work?
1. 2021 Preakness Contenders Were as Follows
How To Bet On The Preakness Stakes
Types of Bets:
Pros and Cons Of Betting on Preakness Stakes
1. Pros:
2. Cons:
Preakness Stakes Betting Odds And History
Betting on Preakness Stakes - FAQs

What Is the Preakness Stakes Race

The 147th Preakness Stakes race, which is the second leg of the legendary Triple Crown, is going to be held at Pimlico Race Course in Baltimore, Maryland. This exciting and historic race is known as the middle jewel of the Triple Crown, and it features iconic traditions like the weather vane and the singing of “Maryland, My Maryland.”

If you missed the Kentucky Derby, be sure to get some action on the Preakness Stakes. Not sure how to go about betting on horses? Or, better still, do you want to improve your horse race betting skills? Read up on our comprehensive guide on how to learn to bet on the Preakness Stakes.

This Grade 1 thoroughbred racing event has a purse of over $1 million and a distance of 1 3/16 miles (9.5 furlongs), which makes for great betting action. Whether you are a seasoned bettor or a beginner, there are key steps and strategies you should keep in mind when betting on the Run for the Black-Eyed Susans this spring.

To get started, you can explore the many betting options available online. These options include several types of bets: straight bets like Win, Place, and Show, or more complex bets like trifectas and exactas. Before placing your bets, it’s important to understand the odds and to choose a trustworthy racebook to bet on the Preakness Stakes.

Overall, the Preakness Stakes is an exhilarating race that offers a unique and exciting betting experience for horse racing enthusiasts. By following the right strategies and taking advantage of the multiple betting options available, you can increase your chances of winning big on this historic and exciting race.

How Can I Bet On The Preakness Stakes Online?

Choose a Racebook:
Sign Up:
Make a Deposit:
Place Your Wagers on the Preakness Stakes:

Racebooks are online betting sites where you can place your wagers on horse racing. There are many racebooks that are adequate to your needs; shop around and find the online racebook that suits your preferences.

Registering is a quick and easy process. Just enter your name, email address, deposit information, and birthdate. Once you complete the registration, you can place your first wager on the running of the Preakness Stakes.

Next, you’ll need to decide on a deposit method. Most online sportsbooks accept credit cards (Visa, MasterCard, AMEX), e-wallets (PayPal, Neteller, Skrill), and debit. Some online sports betting sites also allow deposits in cryptocurrency, such as Bitcoin, Litecoin, Dash, and Ethereum.

Select the Pimlico Race Course track, the Preakness Stakes race number, your chosen horse, and your bet type. Enter the amount you want to wager and submit your Preakness Stakes ticket. You’re almost ready to go!

How Do Preakness Stakes Odds Work?

Understanding the odds is crucial when betting on the Preakness Stakes online. In addition to knowing how the race works and how many horses are running, you need to comprehend the odds and their relation to the Preakness results.

For instance, the odds for the 2021 Preakness contenders were as follows:

2021 Preakness Contenders Were as Follows
Horses	Odds
Midnight Bourbon	5-2
Medina Spirit	3-1
Concert Tour	4-1
Crowded Trade	8-1
Unbridled Honor	11-1
Keepmeinmind	12-1
Ram	12-1
Rombauer	12-1
Risk Taking	12-1
France Go De Ina	20-1

The horse with the lowest odds, Midnight Bourbon, was the favorite to win the 2021 Preakness Stakes, while the other horses were considered underdogs.

If you believe that Authentic would win the Preakness Stakes and place a $100 wager on that horse, you would receive a payout of $250 if he wins. This amount includes your initial bet of $100 and your winnings of $150.

Also learn about How to bet on Horse Racing

How To Bet On The Preakness Stakes

If you’re eager to know when the Preakness Stakes takes place, it’s always scheduled two weeks after the Kentucky Derby every year. And if you’re seeking to discover how to bet on the Preakness Stakes and potentially win big, you’re in for a treat.

Below are some useful Preakness Stakes tips and betting options that cover everything from the post positions and odds to various strategies. These betting strategies can be applied to all Triple Crown races, including the Kentucky Derby and Belmont Stakes, as well as other races throughout the year, including the Breeders’ Cup.

Types of Bets:

Straight Bet: Win, Place, Show:
For beginners, some of the simplest bets to place on the Preakness Stakes are win, place, and show. These bets involve picking a horse to finish in the top three of the race.

Win Betting:
This bet involves selecting a horse to finish in the first place.

Place Betting:
This bet involves selecting a horse to finish in either first or second place

Show Betting:
This bet involves selecting a horse to finish in the money, which means finishing in third place or better.

Across The Board:

Placing an across-the-board wager means betting on a horse to win, place, and show. If the horse wins, the bettor receives a payout on all three bets (win, place, and show). If the horse comes in second, the bettor receives a payout on the place and shows bets. If the horse comes in third, the bettor only receives a payout on the show bet, missing out on the win and place wagers.

The across-the-board bet is similar to a parlay bet in other sports, as it combines three wagers into one single Preakness Stakes ticket. In ATB (parlay) betting, you can place wagers on things like:

• The color of the winning horse at the Preakness Stakes
• The age of the winning jockey at the Preakness Stakes
• The post position that the winning horse will start from at the Preakness Stakes

Preakness Stakes Horse Matchup Wagering:
Instead of trying to handicap a field of 13 horses and pick a sportsbook, matchups involve two horses in the field with a moneyline comparable to what you would find in other team sports. With match races, you bet on the horse you think will finish ahead of the other horse. It does not matter if that horse wins the race.

Preakness Stakes Futures Betting:
If you want to place a bet on the Preakness Stakes weeks or even months ahead of the event, you can do so through a Preakness Stakes futures wager. These bets are placed at fixed odds and can offer generous payouts.

Daily Double Wagering:
A daily double bet involves picking the winners of two consecutive races.

Exacta Bets:
An exacta bet, also known as a perfecta bet, requires bettors to correctly predict the first and second-place finishers in the exact order.

Trifecta Box Betting:
A trifecta bet involves correctly predicting the first three finishers in the exact order, but with the added flexibility of boxing the bets, meaning the horses can finish in any order.

Pick 3, Pick 4, And Pick 6:
Pick 3, Pick 4, and Pick 6 betting are forms of multi-race bets. In a Pick 3 wager, bettors must correctly predict the winners of three consecutive races, while a Pick 4 wager requires predicting the winners of four consecutive races. A Pick 6 wager is even more challenging, requiring bettors to correctly predict the winners of six consecutive races.

Quinella Wagering:
A quinella wager involves selecting the first two finishers in a race, regardless of the order they finish. It’s similar to an exacta bet but offers more flexibility.

Pros and Cons Of Betting on Preakness Stakes

Pros:

◇ Potential for high payouts:With Preakness odds and the number of horses racing in Preakness, there is truly potential for high payouts if you make the right bet.

◇ Excitement and entertainment:Betting on the Preakness Stakes can add excitement and entertainment to watching the race, making it more enjoyable.

◇ Wide range of betting options:With various types of bets available such as win, place, show, exacta, trifecta, and more, there are many options to choose from when betting on the Preakness.

Cons:

◆ High risk:Betting on the Preakness Stakes is a high-risk activity, and there is a chance of losing money if bets are not placed wisely.

◆ Unpredictable outcomes:Despite careful consideration of Preakness odds and past performances of horses racing in Preakness, the outcome of the race can still be unpredictable, making it difficult to guarantee a win.

◆ Addiction:For some, betting on the Preakness Stakes can lead to addiction and a harmful gambling habit.

Preakness Stakes Betting Odds And History

**Preakness Stakes Odds History**
Year	Horse	Jockey	Trainer	Odds	Time
2021	Rombauer	Flavien Prat	Michael McCarthy	+1100	1:53:62
2020	Swiss Skydiver	Robby Albarado	Kenneth McPeek	+600	1:53.28
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

Betting on Preakness Stakes – FAQs

Which are the best types of bets to make on the Preakness Stakes?

The best types of bets to make on the Preakness Stakes depend on your experience level and betting preferences. Some popular options include win, place, show, exacta, trifecta, and superfecta bets.

How do I find the latest Preakness odds?

You can find the latest Preakness odds on sports betting websites, as well as in daily racing form publications and other horse racing resources.

Can I bet on horses racing in the Preakness Stakes from my mobile device?

Yes, many online sportsbooks offer mobile betting options for the Preakness Stakes and other horse racing events.

What is a horse's post position and how does it affect their odds of winning?

A horse’s post position refers to the starting gate position they are assigned in the race. This can affect a horse’s odds of winning, as some positions are considered more advantageous than others based on a specific track’s layout and distance.

Is it possible to make a profit betting on the Preakness Stakes?

Yes, it is possible to make a profit betting on the Preakness Stakes, but it requires knowledge of horse racing and effective betting strategies. It is important to remember that betting on horse races involves risk and there is no guarantee of winning.