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Sat, May 18, 2024. Pimlico Race Course
2024 Preakness Odds Horse Racing

Preakness Stakes Betting 2024

The Preakness Stakes (G1) is a Thoroughbred horse race that takes place annually on the third Saturday in May. The venue has been the Pimlico Race Course in Baltimore, Maryland, since its inaugural run in 1873. 

The Preakness is the second of three Triple Crown races, sandwiched between the Kentucky Derby and Belmont Stakes. It is also the second longest at 9.5 furlongs behind the Belmont at 12 furlongs (1½ mile). 

Also known as the “Middle Jewel of the Triple Crown, the 147th running in 2022 was won by Early Voting. The Chad C. Brown-trained horse was ridden to victory by jockey Jose L. Ortiz in a time of 1:54:54 and closing odds of 7/2.  Epicenter (6-5) took second place, with Creative Minister (10-1) coming in third. 

All in all, a field of nine was drawn for the Preakness Stakes. The full results are as follows:

Finish Horse Jockey Trainer Odds
1 National Treasure John R Velazquez Bob Baffert 5-2
2 Blazing Sevens Irad Ortiz, Jr. Chad Brown 9-2
3 Mage Javier Castellano Gustavo Delgado 7-5
4 Red Route One Joel Rosario Steven Asmussen 8-1
5 Chase the Chaos Sheldon Russell Ed Moger, Jr. 10-1
6 Perform Feargal Lynch Shug McGauhey 8-1
7 Coffeewithchris Jaime Rodriguez John Salzman, Jr. 10-1

Preakness Stakes 2024

  • Date: May 18th, 2024
  • Time: TBD 
  • TV: NBC
  • Mobile: NBC Sports App and streamed live on NBCsports.com/live
  • Location: Pimlico Race Course in Baltimore, MD
  • Track Distance: 13⁄16 miles mile (9.5 furlongs)
  • Track Surface: Dirt
  • Eligible Horses: 3-Year-Old Thoroughbreds
  • Track Record: Secretariat – 1:53.00 in 1973

Bet on Preakness Stakes 2024 Odds

How to Bet on Preakness Stakes?

If you’re used to traditional sports betting, you might be thrown for a loop when you go to bet on any of the Triple Crown races or even casual horse betting.
Horse betting is much different than betting on any of the professional American sports or traditional team sports so you will want to get acquainted with horse betting and gather your strategies before betting on any Preakness Stakes odds.

There are several horse betting types, and it can be overwhelming to new bettors. Thankfully we have an in-depth horse betting guide that will help you learn how to bet on the Preakness Stakes.

The first thing you will want to look at before betting on the Preakness Stakes is the odds. They look much different on a racebook than you’d see on your regular sportsbook, so you will want to first be able to translate what the Preakness Stakes odds even mean.

How to Read Preakness Stakes Odds

If you’re more typically familiar with American odds, you might be alarmed when you notice that most horse bets are placed with fractional odds. If you see a horse with 5-1 odds, you might not quite understand what that means – but don’t worry, it’s not that hard to wrap your head around.

These betting odds are what you should expect in terms of a payout if your horse wins the race. So, the number shows you how much profit you’d make off of the stake you risk. So for 5-1, for every $1 risked, you will win $5. If you bet $1, you will receive a payout of $6. If you bet $5 you would receive a payout of $30

See? Not that complicated!

Preakness Stakes Pari-Mutuel Betting System

While you don’t need to worry about pari-mutuel systems at the BetUS sportsbook, it is commonly used in-person in off-track betting locations (OTBs) and at the Pimlico racebook. If you never intend on betting at a physical racebook, you can skip this section. If you are planning to visit Pimlico to watch and bet on the Preakness Stakes one day, keep reading.

The Preakness Stakes betting odds can be determined by a pari-mutuel system, which means your potential payout on a particular betting type is separated into its own pot overall and divided by how many wagers are placed on that type. The odds will fluctuate before the race depending on where the money is being placed.

Picture bettors piling their money into a pot, and that pot growing based on how much money is wagered. The money will be divided among the winners and the pari-mutuel betting operator (the racebook at Twin Spires for example), will take a commission of the pot.

This differs from standard betting because your payout can continually fluctuate depending on other’s behavior. Instead of placing a $100 wager and locking in 5-1 odds then receiving the payout that’s calculated on your bet slip, you will just receive a percentage of that pool which varies greatly.

Pari-mutuel betting makes it difficult to assess the value of your wagers, which makes things challenging if you’re trying to develop a Preakness Stakes betting strategy. This is why you normally wait until just before the race when betting pari-mutuel, because there are so many variables and so much movement before the race, you need to make sure you aren’t making a bad bet.

Preakness Stakes Betting Types

There are plenty of betting options when it comes to betting on the Preakness Odds. It’s advised to learn about each Preakness Stakes betting type and determine which bet is the best option for each individual race. Many times, you will place multiple bets on each race, but first you will want to determine which betting types compliment each horse or race.

Win, Place, Show

The most common and basic type of wager in horse betting is the win, place, show, or just a straight up wager. The simplicity of these bets allows you to pick the winner, or pick with a small margin of error and still cash in. They won’t pay out as much as an exotic bet, but you can still make some great money betting straight bets at the Preakness Stakes.

If you bet on a horse to ‘Win’, it’s fairly straight forward: you need that horse to win. You are picking a horse straight up to win the race. If that horse wins, you win.

If you’re betting on a horse to ‘Place’, you are betting on a horse to place first or second. Your horse must place in the top two, it doesn’t matter which place for you to win your bet. Your payout will be reduced from the ‘Win’ bet, as you are reducing your risk.

If you’re betting on a horse to ‘Show, you’re betting on a horse to finish in one of the top three positions. Like the ‘Place’ bet, it doesn’t matter which position, just as long as the horse finishes in first, second or third. This bet will have further reduced odds as you will be reducing the risk further than the ‘Place’ wager.

How to Bet the Preakness Stakes Exotics

If you want to try to win more and think you have a good grasp on which horses will be placing in the top few spots, you can try your hand at some Preakness Stakes exotics. These wagers have high payouts, but substantially more risk – so you will need to do plenty of research before you place your wagers.

Exacta Bets

Exacta bets are when you pick the top two horses and they must place in that order for your bet to cash. You don’t have the flexibility of the order being reversed in any case, you must pick the first-place horse and the second-place horse exactly as they finish. If your second-place horse places first, you will lose your bet.

i.e. you could pick horse 7 to finish first and horse 3 to finish second which would be a 7-3 exacta.

Trifecta Bets

If you want to level up on an exacta and predict the top three horses that win a Preakness Stakes race exactly, you can make a Trifecta wager. Trifectas are the same as Exactas, just with the top three placements. So you will need to correctly pick the first place horse, second place horse and third place horse. There is no room for error here, as you have to pick the specific horse to the specific position.

i.e. you could pick horse 1 to place first, horse 5 to place second and horse 2 to place third which would be a 1-5-2 trifecta.

Superfecta Bets

Levelling up even further, you can make a Superfecta bet, which is the next step up from the Trifecta, where you will have to correctly pick the top four horses and place them in their correct positions. Superfectas are not for the light of heart – they can be extremely risky.

i.e. you could pick horse 4 to place first, horse 7 to place second, horse 2 to place third and horse 1 to place fourth, which would be a 4-7-2-1 superfecta.

Daily Double

If you want to bet a daily double at the Preakness Stakes, you will need to pick the winning horse of two races in a row. You could pick a 6-2 Daily Double wager, and you would be betting on Horse #6 to win race one and then horse #2 to win race two. These daily doubles resemble parlays in regular sports betting, as you’re picking the outcome (winner) in multiple events. You’re just picking the horses straight up, just combining them into one bet.

You can continue this and make it bigger and better with Pick 3s, Pick 4s, Pick 5s and so on. You can pick the winner of each race, one after another. This is extremely challenging for even the most experienced horse bettor, so don’t take this style of bet lightly.

Preakness Stakes Futures

As with many big sporting events, you can find Preakness odds to win, which essentially gives you an opportunity to pick which horse you think will win the Preakness Stakes overall. As soon as all of the horses finish their qualifiers and the contenders are announced, you can start betting on Preakness Stakes futures.

The odds for futures are usually on the high side because you have so many horses to choose from. Many times, there are stand out horses that are strong contenders and heavy favorites, but they don’t always end up winning the race. You can get some great value from betting on an underdog in some cases. Pay attention to qualifiers and how horses have performed at previous races to ensure you have a good idea of how they might perform at the Preakness Stakes.

Find the Best Preakness Odds

There are plenty of Preakness Stakes odds from online Racebook. The key is to bet them at the right time and to find the best odds. Check with our Racebook as the odds are updated and snipe the teams of your choice when their prices are right!

Where to Watch the Preakness Stakes?


Preakness Stakes Frequently Asked Questions

When is the 2024 Preakness Stakes?

The Preakness Stakes is the second event in the Triple Crown Races and is held annually on the third Saturday of May. The 2024 Preakness Stakes will take place on May 18th, 2024.

Can I bet on the 2024 Preakness Stakes?

You can bet on every major horse race, including the Preakness Stakes, online at BetUS Sportsbook.

Is betting online in Preakness Stakes legal?

Yes, betting online at BetUS Sportsbook on the Preakness or any other event, is 100% legal and regulated.

Where can I find the current odds for the Preakness?

Head over to the BetUS Sportsbook and click on the Horse Racing tab. The odds for the Preakness and all upcoming major races are listed there. 

Who won the Preakness Stakes 2023?

National Treasure won the Preakness Stakes 2023.

How old do you have to be to place a Preakness bet?

To bet on the Preakness Stakes or any horse race at BetUS Sportsbook, you must be 18 or older.

What are the betting options available for 2024 Preakness Stakes betting?

When betting on the Preakness Stakes, you can bet on Win/Place/Show straight wagers, Quinellas, Exactas, Trifectas, Superfectas, Daily Doubles, Pick 3s, Pick 4s, and Pick 6s.

Where to watch the Preakness Stakes?

The first two legs of the three Triple Crowns, including the Preakness Stakes, are broadcast nationally on NBC. They will also be live-streamed on mobile via the NBC Sports App. In 2023, the Belmont Stakes moves to FOX Sports.