Betting Odds Preakness

Every year, horse enthusiasts around the world wait for betting odds on the Preakness to be posted. The Preakness Stakes are the second jewel in the Triple Crown, hosted at Pimlico Race Course in Baltimore, MD. This leg of the journey requires the three-year-olds to run a 1 and 3/16th-mile race to become victorious. Secretariat, a former Triple Crown winner, holds the record for the fastest time in Preakness history with a run time of 1:53. Will the next Preakness Stakes winner be able to beat the greatest Preakness finish since 1925? Will the Preakness winner go on to claim the coveted Triple Crown? These are all different things you can wager on when you explore Preakness betting odds.

When it comes time to bet on the Run for the Black-Eyed Susans, you will want to use one of the best online horse racing betting sites. Horse bettors should also be aware of the different ways to bet on horses, and what banking methods you have at your deposal. You can read our brief guide to learn everything you need to know about betting on the Preakness.

2024 Preakness Betting Odds

The official Preakness Stakes odds dropped the day after the Kentucky Derby concluded. Muth was the favorite at +350 to win the Preakness before the Kentucky Derby and the thoroughbred maintained the favorite status following the race at -120. The main shift in odds was Mystik Dan after his Kentucky Derby win (+4500 to +400).

Preakness Stakes Post Positions and Betting Odds
Post Position Horse Trainer / Jockey Betting Odds
No. 1 Mugatu Jeff Engler / Joe Bravo +4000
No. 2 Uncle Heavy Robert Reid Jr. / Irad Ortiz Jr. +2500
No. 3 Catching Freedom Brad Cox / Flavien Prat +600
No. 4 Muth Bob Baffert / Juan Hernandez -120
No. 5 Mystik Dan Kenny McPeek / Brian Hernandez Jr. +400
No. 6 Seize the Grey D. Wayne Lukas / Jaime Torres +1400
No. 7 Just Steel D. Wayne Lukas / Joel Rosario +1200
No. 8 Tuscan Gold Chad Brown / Tyler Gaffalione +650
No. 9 Imagination Bob Baffert / Frankie Dettori +650
Types of Horse Bets

Before you can start wagering on Preakness betting odds, you will need to know the different types of horse bets. Horse bets come in two different categories- straight and exotics. Straight bets are less complex and only involve one horse, while exotic bets have more than one horse and can even include multiple races. The potential payoffs will increase with the difficulty of the bet, which is a factor that you should keep in mind when choosing a horse wager type. We will go over the most common horse bets that you can make as a horse bettor.

Straight Horse Bets
  • Win – Bet on which horse will win the race.
  • Place - Wager on your horse to come in first or second.
  • Show – Your pick can finish first, second, or third.
Exotic Horse Bets
  • Exacta - You must determine which horses will finish first and second, in exact order.
  • Trifecta – You bet on the first, second, and third place finishers in specific order.
  • Superfecta – Select the exact order of the horses that will finish in the top four.
  • Pick 6 – Wager on the winners of six consecutive races.
What Are Boxed Wagers?

If you want to better your chances of winning while still maintaining a higher payoff, you can choose to “box” your bet. Instead of having to bet on the exact order, you can buy a ticket for all of the possible combinations of your selections. For example, if you think that #3 and #4 will win and place but you are unsure of the order, you can box an exacta. This means your horses can finish 3-4 or 4-3 and will still be graded as a win as long as they are in first and second place. You can box as many horses as you find beneficial to your betting strategy.

How Do I Calculate My Winnings?

It is very simple to calculate your winnings when placing straight bets. Preakness odds will typically be provided in fractional format, and there are three simple steps you will take. Divide the numerator by the denominator, then multiply that number by the bet amount, and finally, add the bet amount. Take a look at the example below:

  • $2 Win bet on Horse #4 at 5/1 odds:
  • 5 X 2 + 2 = $12
  • $10 Win bet on Horse #3 at 5/2 odds:
  • 2.5 X 10 + 10 = $35
Best Deposit Methods For Betting On The Preakness Stakes

When using online sportsbooks like Bovada that have been accepting odds on the Preakness Stakes for over a decade, Bitcoin and other cryptocurrencies are the best option for funding your account. Deposits with crypto have no fee attached and the transaction are processed instantly. While crypto deposits are recommended at most Preakness betting sites, there are still other methods available. Credit/debit card deposits are the most universally accepted method of payment and can be used for safe and secure transactions. P2P apps like Venmo and bank transfers are other commonly accepted methods.

Bonuses For Preakness Stakes Betting

Most online betting sites offer deposit match bonuses for every new player, no matter the type of payment method used. However, the industry leading Preakness Stakes betting sites offer the biggest deposit bonuses through crypto deposits. The best bonuses by online Racebook can be found below:

  • Bovada – $750 crypto bonus, 75% deposit match, 5x rollover
  • SportsBetting – $1,000 crypto bonus, 100% deposit match, 14x rollover
  • BetOnline – $1,000 bonus, 50% deposit match, 10x rollover

Fastest Withdrawal Methods At Preakness Stakes Betting Sites

After having any bets hit on the winning horse of the Preakness Stakes or for finishing positions, there are payout methods that can deliver same day transactions. Bitcoin, Litecoin, and Ethereum are some of the fastest payout methods offered at Bovada and other online books accepting US players. Outside of crypto, bank transfers, P2P apps and checks in the mail are other commonly offered withdrawal methods. These methods are not going to be as fast but will still deliver safe and secure payouts on all Preakness Stakes betting in the US.

Best Sites For Betting On Preakness Odds

You could spend hours researching the best sites for betting on Preakness odds, or you could take a look at our recommendations. We have used dozens of different online racebooks but we have found that there are only a handful that standout. The top horse racing betting sites have a variety of Preakness betting odds, and aside from straight and exotic bets there are also Triple Crown props. Being able to bet the horses from a smartphone is also ideal for on-the-go wagering. Flexbile deposits and withdrawals are also important when choosing an online racebook for Preakness betting. The two sites that offer all of these features and more are SportsBetting and Bovada.

Bovada - Best Mobile Book For Preakness Stakes Betting

Bovada has become one of the most popular and trusted online books for betting on the Preakness Stakes because it has been accepting US players for over a decade. The deposits are always secure, bonuses are always big and payouts can be received in under 30 seconds time. Bovada can be accessed from any mobile device, making it easy to bet on Preakness odds on the go. Whether looking to bet on the winner or other various props for each horse, jockey, or trainer, Bovada is the best mobile book for online horse betting.

BetOnline - Best Deposit Bonuses For Betting On The Preakness Stakes

There are many different ways to wager on Preakness Stakes odds and BetOnline helps players spread the wealth by offering the biggest deposit match bonuses for all new players. If making your first deposit with crypto at the online betting site, players can receive a 100% deposit match of up to $1,000. All of the bonus funds can be used for horse betting props and odds for future and live betting the Preakness Stakes. A 50% deposit match of up to $1,000 can be claimed when depositing with a credit card, P2P method, or a bank transfer at BetOnline as well.

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