Preakness Stakes Betting Online - Odds | Handicapping | How To Bet Guide

Preakness Stakes Betting Online - Odds | Handicapping | How To Bet Guide

The Preakness Stakes is the second leg of the Triple Crown Series. It's the race that follows the Kentucky Derby as the winner looks to continue the quest for the Triple Crown, which has only been achieved by 13 horses throughout its illustrious history. And soon, the 145th Preakness Stakes will be upon us.

Are you ready to bet on the Preakness?

What Is The Preakness Stakes?

Also known as "The Run for the Black-Eyed Susans", the Preakness Stakes first occurred in 1873. It is held on the third Saturday in May each year at the Pimlico Race Course in Baltimore, Maryland. The race is 1 3/8 mile and runs on dirt. It is a Preakness is a Grade 1 race and the purse money is $1.5 million.

Can You Bet Online For The Preakness?

Yes, you can bet online for the Preakness. Read all about the Preakness and how to bet online below!

Preakness Betting Online

You can also bet on the Preakness Stakes online. Below is the best available Preakness betting site:

How Does The Preakness Stakes Work?

The Preakness Stakes is a race restricted to three-year-old horses. Colts and geldings must carry 126 pounds, while fillies will be holding 121 pounds.

The Kentucky Derby winner is guaranteed a spot in the Preakness.

Any horse nominated to the Triple Crown can run in the Preakness Stakes. This includes horses who may have decided to skip running in the Kentucky Derby. Due to the field being cut down to 14 from 20, there may be more horses looking to enter the Preakness than can actually run. In this case, the top 14 horses will be chosen by lifetime earnings. But keep in mind, the Kentucky Derby winner, regardless of lifetime earnings, will have a spot in the Preakness.

After the Preakness is the Belmont Stakes. For this final race of the Triple Crown, horses who ended up winning purse money in the Kentucky Derby and Preakness will automatically qualify.

The entry fee to the Preakness Stakes is $15,000 and the starting fee is $15,000.

Gate positions are determined in the week leading up to the race when the final field is known.

When Is The Preakness Stakes 2020?

The 145th Preakness is on Saturday, May 16, 2020.

  • Date: Saturday, May 2, 2020
  • Time: 6:48 pm EST
  • TV: NBC
  • Track And Location: Pimlico Race Course in Baltimore, Maryland
  • Distance: One and three-eighths miles (9.5 furlongs)
  • Surface: Dirt
  • Horses: Up to 14 Three-Year-Old Thoroughbreds
  • Track Record: Secretariat (1:53:00 in 1973)

How To Bet On The Preakness Stakes Online?

The best and most convenient way to bet on the Preakness is online. TVG offers a $200 Risk-Free Bet, which is a great signup bonus and one you should take advantage of.

Preakness Stakes Bets Explained

Preakness Stakes betting involves a multitude of different wagers. But keep in mind, all horse racing betting has these same types of bets. Check out how to bet on horses for more information, but here are some of the most popular bet types:

  • Win: Place a bet on who you think will win the Preakness Stakes.
  • Place: Win this bet if the horse you wagered on comes in first or second place.
  • Show: This bet becomes a winner if the horse you wagers on finishes in on in first, second, or third.
  • Exacta: If you predict the first two horses to finish the race, which occurs in the correct order of the bet, you would win this Exacta bet.
  • Trifecta: Predict the first three horses to finish the race in the correct order to win a Trifecta bet.
  • Superfecta: Predict the first four horses to finish in the correct order of the race.
  • Super High Five: Predict the first five horses to finish in the correct order of the race.

Preakness Stakes Betting Odds

The odds for the Preakness will be determined after the Kentucky Derby, but for now, here are some odds as we head into the Derby. This will be updated closer to the race:

Kentucky Derby Odds For 2020

Preakness Stakes Payouts

The wagering system on horses is done through a parimutuel system, which means 'wagering amongst ourselves'.

Unlike casinos where there is a house taking the action, wagering on horse racing is done so by essentially betting against everyone else making the same wager in that particular race, on a large scale.

Once the race is run and declared official, the track pays the winners. The track makes money by taking a certain percentage of the wagers.

Preakness Betting Tips

When picking a Preakness Stakes winner, there are several factors to consider:

  • Past Performances
  • Conditions of the Race
  • Restrictions of the Race
  • The Horse's Ability Against The Competition
  • Pace of the Race

To uncover the details behind these factors, use racing publications such as the Daily Racing Form, Brisnet, and Track Master. And read how to win at horse racing if you would like to learn more about horse handicapping and how to pick a winner.

Past Preakness Stakes Winners

  • 2019 Winner: War of Will
  • 2018 Winner: Justify (Triple Crown Winner)
  • 2017 Winner: Cloud Computing
  • 2016 Winner: Exaggerator
  • 2015 Winner: American Pharaoh (Triple Crown Winner)
  • 2014 Winner: California Chrome
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