What To Bet On Preakness

On this page, you will learn now to bet on the Preakness Steaks using straight bets and exotic bets. You’ll also understand how the odds work while discovering some of the best methods for placing wagers on the Triple Crown.

Types of Bets

As a marquee event on the Thoroughbred calendar, the Preakness Stakes offers a full slate of betting. There are generally two types of wagers that a player can make: straight and exotic. These are outlined below.

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Straight Bets

These are wagers based on a single outcome with a single horse and are a standard option for players.

Win – The horse must finish first.
Place – The horse must finish first or second.
Show – The horse must finish first, second or third.

Preakness

Exotic Bets

These are wagers based on multiple outcomes. They are technically more difficult to win, and therefore provide larger payouts.

Exacta – Select two horses to finish 1st and 2nd in exact order.
Trifecta – Select three horses to finish 1st, 2nd and 3rd in exact order.
Superfecta – Select four horses to finish 1st, 2nd, 3rd and 4th in exact order.

All of the exotic bets listed above can be “boxed”, meaning that you change the outcome from exact order to any order. For example, in an exacta box you will be selecting the top-two finishers in the race. For a trifecta box you select the top-three, and in a superfecta box you will select the top-four finishers.

How To Bet The Preakness Stakes Odds

Now that you understand the basic straight and exotic bets, it’s time to understand how odds in horse racing work. The field of contenders will be assigned early odds on the Wednesday following the post draw, which determines which gate each horse starts in.

Please note that the odds for the Preakness Stakes will fluctuate slightly as action begins to come in. Once you have placed your wager, the odds at that time will become locked for that particular bet.

The table below outlines some of the odds you might see for the Preakness Stakes and their corresponding payout based on a standard $2 wager.

Odds

American

$2 Wager

1/1

+100

$4.00

3/2

+150

$5.00

9/5

+180

$5.60

2/1

+200

$6.00

5/2

+250

$7.00

3/1

+300

$8.00

7/2

+350

$9.00

4/1

+400

$10.00

9/2

+450

$11.00

5/1

+500

$12.00

10/1

+1000

$22.00

Where To Bet The Preakness Stakes

There are several options for those wondering how to bet the Preakness Stakes this coming spring.

At The Window

You can bet at Pimlico Racecourse using their betting windows or their amazing kiosks. The tellers at the window are great at walking through and explaining all the options available to you, while the kiosks allow for a seamless way to place a wager on any of the race day events.

What To Bet On Preakness Picks

Bet The Preakness Stakes Online

What to bet on preakness picks

Twinspires.com offers a fluid and easy-to-use desktop portal for those looking to bet the Preakness Stakes. It’s free to sign up, and deposit is simple and fast. You can easily sign up on the day of the race you’re looking to bet, or sign up in advance to get the best odds!

Mobile Options

You can head to the Apple Store or the Android portal to download the free Twinspires.com app for your tablet or smartphone. It offers all the functionality of our desktop site, but gives you the freedom to bet on the Preakness Stakes on the go. All wagering options are available through our desktop and mobile platforms. Get in on the action today!

How To Bet On The Preakness Online

Although the first jewel of the crown gets the most attention and fame, it is legal Preakness Stakes betting that really sets the tone for the remainder of the Triple Crown. Being the second crown jewel of the Triple Crown, this is when people realize whether or not a single horse will achieve the accomplishment of winning the title. People come to the Preakness Stakes hoping the winner of the Kentucky Derby wins the race and builds up excitement for a potential Triple Crown achievement.

If that has gotten you excited, you might be wondering on how you can get into the Preakness Stakes betting. We are here to help you. We are going to give you all the information you will need to bet on the Preakness Stakes legally. There will be information on how you can bet, what kind of wager types you can bet on, and there will be a list of some of the past Preakness Stakes winners. If you are wanting to bet on the horse who won the Kentucky Derby or you are wanting to bet on an underdog instead, then the Preakness Stakes will be a huge race for you either way.

Date: Saturday, May 15

Location: Pimlico Race Course in Baltimore, Maryland

Post Time: TBA

Distance: 13/16 of a mile

What To Bet On Preakness Betting

Purse: $1 million

Bet On Preakness

Favorite: TBA

Can I Legally Bet On The Preakness?

Horse races are one of the more widely accepted forms of gambling in the United States. It is so widely accepted that you are allowed to bet on horse races across state lines online and at OTB’s that offer simulcasts. There are very few states in the country that has banned horse bet racing. Even in those states, you can bet legally on the Preakness Stakes. That is thanks to online offshore racebooks. Racebooks like Bovada, BetOnline, and MyBookie all have a dedicated racebook not only to bring you odds on the Preakness, but on the rest of the Triple Crown as well. These websites are completely legal as they are based outside of the United States. They operate legally in their respective countries, and you are allowed to place your bets on these sites. If you are wanting to bet on the Preakness, definitely check out the online offshore racebooks.

How To Bet On The Preakness

How To Bet On Preakness

Betting on the Preakness Stakes is no different than taking action on any major racing event. Online sportsbooks with horse racing will have betting lines for the big event and you can simply wager from there. You will be able to bet on straight bets like win, place, and show, as well as take action on exotic wagers like exacta, trifecta, and pick 3. The Preakness Stakes is a major draw in the horse race betting world as over $1 million in betting handle is garnered every year for this Triple Crown event. You do not want to miss out on all the potential winnings when betting on the Preakness Stakes.​