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 ⅜ mile and runs on dirt. It is a Preakness is a Grade 1 race and the purse money is $1.5 million.

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.

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)

Best Preakness Stakes Betting Sites

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

How To Bet On The Preakness Stakes?

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 Odds 2020

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.

How To Pick A Winner In The Preakness

When picking a Preakness Stakes winner, there are several factors to consider. When handicapping, or breaking down a race, take a look at these key factors:

  • 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.

Past Performances

The Daily Racing Form's inception was in 1894 and has since been the standard for racing forms. There is plenty of past performance information you can gather from this form, which includes a horse's 12 previous races.

Many handicappers will look to a horse's past performance to decide on future results in an upcoming race.

When we look at a horse's past performance in a race, you want to consider the following question:

How easy or difficult was it for the horse the last time he or she ran?

To break it down further, consider how the horse's trip went:

  • Did they break well or not (troubled trip)?
  • Did the horse get checked, get forced to go five-wide?
  • Was the horse challenged in the race? Was it too easy? What was the pace?

Use these to conclude if the horse ran well, or if perhaps he or she was the beneficiary of the race's unique circumstances.

These are things to look at during the course of a race that may have hindered or benefited the horse. You can see these as reasons or excuses as to why the horse may have won or lost during their last race or past races.

Conditions of the Race

Looking at the conditions of a race will give you an idea of what the horse was facing heading into the run. You can also find this in the Daily Racing Form. A couple of conditions to take into account are:

  • Level of Competition
  • Restrictions

The trainers of the race are also something you may want to consider. You can find training stats inside the racing form, which may help your decision-making.

For example, if a horse is coming off a 60-day layoff, the stats can show you how well a trainer has done in the last two years when his or her horse hasn't raced in 60+ days.

You may also want to take note of prestigious owners and if they happen to do well in these specific race conditions.

Level of Competition

We suggest breaking down the level of competition in this way:

  • Maiden Claiming Race
  • Maiden Special Weight
  • Claiming
  • Allowance
  • Stakes

These are different levels of competition in which a horse can be placed. You should be aware when a horse is jumping up in Class, say from a Claiming to an Allowance Race, or when they perhaps are taking a step down.


A race will likely have some restrictions, which is something you have to consider when handicapping. In horse racing, two-year-old horses can only face other two-year-old horses.

The Preakness is restricted to three-year-olds.

There are races that are restricted by sex, though you may find both running in the Preakness. There have been five female horses (fillies) that have won the Preakness with five coming in second place and eight finishing in third.

There is also a restriction on races known as State Bred. In a State Bred race, only horses born and bred in that state can compete in the race. This means the talent pool could be less than normal. So you may write off a horse as inferior due to initially being a horse that ran most or all of their races with State Bred restrictions.

But horses take different paths to reach the Triple Crown Series. So if a horse found success in a State Bred race, it does not mean the horse doesn't have the talent to compete in a wide-open competition like the Preakness. In fact, there are likely horses competing in the Preakness that have also raced in a State Bred.

There are other factors to look at when handicapping for the Preakness:

Looking At The Trip

When looking at the trip, consider the track conditions, the distance of the race, post position, how large is the field, and other situations that may impact a horse's performance.

Is the horse used to running this distance? How is the track? Will it run fast or be sloppy? Is it on the turf or on dirt? These are all things to look at when breaking down the Preakness.

Pace of Race

You will want to decide on how the race will play out, and much of this has to do with the pace of the race. What horses are going to be on the lead? Who is going to set the pace? Are you expecting this to be a run at a furious pace? How fast will the race go when we reach the quarter-mile and the half-mile?

Will it benefit the horses in front, just off the pace, or way off the pace?

Races that run fast early, generally favor Closers. You can determine a closer by looking at their past performances. You can see how many lengths they are off the lead and as the race develops and if they make a move to inch closer and try to catch the leader as they head toward the finish.

Preakness Stakes Handicapping

Once you look at all of these factors, it is time to do some Preakness handicapping. You should compare a horse against its competition.

So, who is going to win the Preakness Stakes?

We can start by looking at the factors above and then put each horse into the following racing type:

  • Pace-setter: A horse that looks or needs to lead in the opening quarter or opening half of a mile of a race.
  • Duelers/Stalkers: Horses who may challenge the pace-setter.
  • Mid-closers: Horses who sit in the middle of the pack to eventually make a move to pass the horses who are in the lead.
  • Deep Closers: A horse who trails or is at the back of the pack, who then looks to make a sustained run to steal it at the wire.

Now that we have determined the types of horses to key in on, we can look at the field, take into account all the factors mentioned above and make a decision on who will win the Preakness Stakes.

Past Preakness Stakes Winners

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