Even though the Preakness Stakes is a one-day event, it presents many great betting opportunities for you to explore. And if you want to learn how online betting on Preakness Stakes works and how to do it, you’ve come to the right place!
With the help of our horse racing experts, we’ve put together a Preakness betting guide, perfect for anyone who wishes to learn how to bet on Preakness online and how to make a profit from it. By reading through our article, you will know:
- Where to find the best Preakness Stakes betting sites?
- How to read Preakness horse odds?
- What is the best Preakness betting strategy?
- What are tips and tricks for Preakness Stakes online betting?
Best Preakness Stakes Betting Sites
Before you can start betting on Preakness, you need to find a horse racing bookie to do it on, which is a straightforward process since all online bookmakers cover Preakness Stakes. If you’re not sure which ones do, you can check which bookmakers have Breeders’ Cup odds, and if they do, there is a good chance they will have Preakness betting odds.
But even though finding a bookie that will accept your wagers is easy, you need to find a betting site that will provide you with competitive odds, enough market depth, and bet offers or promotions. If you find a bookmaker that checks all these marks, you’re set to start betting, but remember to only wager on legal, regulated, and licensed bookmakers.
Our best advice is that you register at multiple bookmakers, which will allow you to compare the betting lines and the current odds on Preakness Stakes and bet with the best odds!
Offers & Promotions
Preakness Stakes promotions will be readily available on most online bookmakers that cover horse racing. You should always keep an eye out for these offers and the latest Preakness odds. If you’re planning on doing some Preakness wagering, you should know that bonuses and promotions will be a great tool to get extra value for your money, so we would advise you to take full advantage of any bet offers you can find.
Those will often come in free bets, odds boosts, added places, and even Acca boosts. Of course, there are other variations of promotions, but they all serve the same purpose – adding value to your betting experience. So pick a bookmaker with the best bonuses and check any terms and conditions to know how to take full advantage of the offers.
Preakness Stakes Odds
Most online bookmakers will offer Preakness Stakes winner odds but know that not all bookies will have the same prices on the same entries. It’s very common to see 2 betting sites offer the same morning line but different odds when we get closer to the race.
For example, Bovada could have Rombauer priced at 12/1 on the morning line to win the 2022 Preakness Stakes but 11/1 before the race. Meanwhile, TVG will have the same 12/1 morning line but 10/1 final odds.
It is extremely important to know if you wish to succeed in handicapping Preakness Stakes since you need to always hunt for the best Preakness favourites odds if you want to come out ahead in the long run. It is also why it’s advisable to have accounts with multiple bookies, which will allow you to search for the best offers and bet with the best prices.
Preakness Stakes Specials
You can bet on Preakness Stakes in many different ways, but if you want to experience a new and exciting way to approach Preakness betting online, you should check Preakness specials. As the name would suggest, specials offer a unique and special way to bet on Preakness with markets that casual bettors do not commonly use.
Still, they all offer great value if you know where to look and are worth exploring if you’re out for big payouts. And the most popular specials include bets on trainers, jockeys, and horses.
One of the betting strategies is to wager on trainers rather than horses, even though trainers themselves don’t race in any of the races. Instead, you’re betting on which trainer will have the most winning horses at a single event.
Although a popular way to approach betting, this Preakness betting strategy won’t work since Preakness Stakes is a single race. Still, some trainers will have multiple horses in the race, so you can still bet on which trainer’s horse will win.
The Preakness stakes betting odds on trainers who have more than one entry will be lower, but you have a better chance to hit your bet.
Betting on jockeys works the same way as wagering on trainers. You’re not betting on which horse will win but which jockey will win the most races in a single event, which is possible because some jockeys ride more than one horse per event.
But since Preakness Stakes is a single-race event, this bet type won’t be available. Still, you will find it when searching through betting markets on other horse racing events. So even though jockey betting isn’t known for Preakness Stakes, it is still a very popular bet for different occasions due to the generous odds this betting market offers.
You can bet on horses for the Preakness Stakes, but there are 2 different ways. Either you bet on horses ante-post, with the morning line, with the closing line (SP – or starting price), or in-play.
There is no clear best way to approach betting on horses, as it will depend on what the Preakness betting line is and your personal preference. But some bettors will use ante-post wagering, which will often offer better odds and higher potential payout.
But know that if you bet ante-post, i.e., placing a wager before the runners are confirmed, you will lose your stake if your horse doesn’t race. It is a riskier bet, but you get better Preakness winner odds, so it’s sometimes worth the risk.
Popular Bet Types
Preakness specials are fun to spice up your betting experience, but if you’re new to horse race gambling, perhaps it’s wiser to stick to the more traditional bet types.
Those include some challenging bets, such as Superfecta, but they’re very simple to understand. And the best part – there are many popular bet types for you to explore – win, place, and each way and a generous selection of exotics.
Win is the most straightforward bet you can make on Preakness Stakes, and it is a bet type that will be available on all Preakness wagering sites. You’re simply predicting which horse will win the race with it, and you can do it either ante-post, pre-race, or in-play.
Place is just as straightforward as the win bet, albeit it works differently. Instead of betting on which horse will win, you’re wagering on which horse will “place” or, in other words, which horse will finish the race second or better. It is the same bet as a top-2 finish in Formula One or any other racing sport, but while it’s a simple bet, expect the payout to be lower than on a win bet.
Each way combines the “win” and “place” bets into one, allowing you to split your wager in half and bet on both betting markets.
For example, a $100 bet on horse A each way is the same as if you placed a $50 bet on the horse to win and $50 on the horse to place. So if your selection ends up winning, you will get 2 payouts – one for the win part and one for the place part. But if your choice finishes second, you will only get paid for the place part (place odds * half your initial wager).
It is one of the most popular bets horse racing bettors use and is a key element of specific Preakness betting strategies.
Exacta is a highly popular exotic bet many horse race bettors like to use in an attempt to cash in big. But know that while Exacta offers very generous odds, it’s also tough to predict.
With Exacta, you need to accurately predict which 2 horses will finish the race first and second – in the exact order. The more horses are in the race, the tougher it is to predict the winners with Exacta, which also means that the bookies will offer more generous odds.
If Exacta is too tough for you, but you still want to chase big payouts, Quinella might be the better exotic bet. Like Exacta, Quinella requires you to predict which 2 horses will end the race inside the top 2, but the order doesn’t matter.
Quinella is the perfect bet for anyone who wants to try betting with exotics but isn’t too excited about trying out the more challenging alternatives. Since Quinella is easier to predict than Exacta, the odds will be lower but still high enough to return your stake 10x (or more).
Trifecta elevates the challenge of betting on Exacta by a level, requiring you to predict which 3 horses will cross the finish line first – in exact order. Out of all exotics bets you will find while looking through the current odds for Preakness Stakes, Trifecta is the most popular, providing the right mix of challenge and generous payouts.
Superfecta is one of the most demanding Preakness Stakes exotic bet you can take. It requires punters to correctly predict which 4 horses will finish the race first, second, 3rd, and 4th in exact order.
Given how challenging it is to predict a Superfecta correctly, it should be no surprise that the payouts are extremely generous. Admittedly, Superfecta is a bet most commonly used by handicappers who aren’t afraid to risk some money. Still, most online bookmakers will have a minimum wager on Superfecta set at only 10 cents, so you’re not risking too much.
Bet of the Day
Bet of the day is the most certain bet you can make on Preakness Stakes, and it gives you the best chance to hit a winning wager. We keep our bet of the day constantly updated and simple, so anyone can use the prediction and bet with the tips.
How to Bet on Preakness Stakes
Becoming a Preakness Stakes betting expert requires a lot of time and dedication, but anyone can do it, and anyone can make a profit betting on horse races. But if you want to reach that status, you have to know how to approach betting on Preakness Stakes and have the right approach from the start.
Here, we will look at a few key things you should know before betting on Preakness Stakes.
- Pick a reputable, safe, licensed bookmaker who can offer competitive Preakness Stakes odds and enough market dept.
- It’s advisable to have accounts with multiple bookies, so you can search for and wager with the best Preakness betting odds.
- Always check if the bookmaker has any free bets, offers, or other promotions.
- If you like to wager on the go, you should pick a sportsbook with a Preakness betting app.
- Even if you’re not planning to bet on Preakness Stakes live, the availability of in-play wagering and live streaming options is beneficial.
- You should always decide for yourself what you want to bet on, but it helps to follow expert picks and predictions available on sports betting websites in the form of a betting preview.
- Find a Preakness betting strategy that suits you and stick to it.
- Learn how to manage your bankroll and never overbet.
If you’re a mobile bettor, you will be happy to hear that you can bet on Preakness Stakes via mobile betting devices! But you should know that while mobile betting is available, not all bookmakers will have a Preakness betting app.
Those that don’t will have a mobile version of the website, but it’s usually smarter to use a mobile betting app, which is faster, more responsive, and far more convenient. Moreover, some bookies will have special promotions on the current Preakness Stakes odds for those who bet on mobile apps, and most will also have live streaming available!
Preakness Stakes Live Betting & Live Streaming
Even though it’s not as common among horse racing bettors, you can live bet on the Preakness Stakes and make a nice profit from it. Admittedly, live betting on horse races is mostly reserved for the more experienced handicappers, but it doesn’t take much to learn it.
It works the same way as betting on any other sport, and anyone can do it, as long as you have a stable internet connection and access to a bookie that offers live odds. It’s also very important that you bet on a bookmaker that has a live streaming option available so that you can follow the action.
The biggest advantage of in-play betting is being able to wager much better odds if you find the opportunity to do so. If you know that a certain horse is usually slow at the start of the race but has a strong finish, you can bet on him at much better odds than what you would find on the morning line and find great value.
Live betting might not be for everyone, but it certainly has its advantages and is worth checking out.
Preakness Stakes Betting Tips & Predictions
If you’re new to betting on Preakness Stakes, it helps that you find a reliable gambling site that can provide you with betting previews, predictions, and expert picks on races. Although you should always bet on what you feel is the best, it is beneficial if you check what betting experts have to say about the upcoming race.
Instead of doing your research and looking through stats, trends, and data, you can leave that work to the professionals and let them decide for you. Or you can use betting previews as a source of information.
Either way, having access to Preakness Stakes betting previews will greatly benefit you on your journey. Finding a site that can provide you with them should be on top of your priority list before you start betting on Preakness Stakes.
Preakness Stakes Overview
Preakness Stakes is one of the most prestigious horse racing events of the year, and as such, it’s well known among horse racing fans and bettors alike. But while you might have heard of it before, there are a few interesting facts about it you might not know about.
- Eddie Arcaro is one of the most successful jockeys of Preakness Stakes with 6 wins, followed by Victor Espinoza, Pat Day, Gary Stevens, Bill Hartack, and Bill Shoemaker.
- The legendary Bob Baffert is tied with R. Wyndham Walden as 2 trainers who have won the Preakness Stakes the most out of all trainers (7).
- Other popular trainers of Preakness Stakes are Steve Asmussen, Dale Romans, Mark E. Casse, D. Wayne Lukas, and Tom Bohannan.
- Secretariat is the most well-known winner of Preakness Stakes, having set the record of 1:53 in 1973.
- Other prominent horses that raced at Preakness Stakes include Smarty Jones, Rombauer, American Pharoah, Justify, and Lookin At Lucky.
- Preakness Stakes is the second jewel of the Triple Crown, besides Kentucky Derby and Belmont Stakes.
- Preakness Stakes is held annually at Pimlico Race Course in Baltimore, Maryland, United States.
- The most popular legal online bookmakers for Preakness Stakes include William Hill, TVG, Bet365, EnergyBet, and Betfair.
You know everything about betting on this horse racing spectacle if you’ve read our Preakness Stakes guide. Now everything left to do is visit the best bookmakers for Preakness Stakes wagering and start placing your bets!
Frequently Asked Questions
How can I bet on the Preakness Stakes?
You can bet on Preakness Stakes on an online horse racing bookie, in person at any land-based sportsbooks, or even at Pimlico Race Course. Although there are many options, online betting on Preakness Stakes remains the most popular way to wager on this horse racing event.
What horses are running in the Preakness?
Preakness Stakes is a Grade I race that features some of the best horses in the world. It welcomes Colts and geldings (who carry 57kg) and fillies (who have 55kg).
Where to bet on Preakness Stakes?
If you are not betting on Preakness Stakes in person, you should always wager on only the best horse racing bookie, with competitive odds and enough market depth. Some of the most popular bookies for Preakness include TVG, William Hill, Bet365, and BetOnline.
What app can I bet on Preakness?
Most online bookmakers will have a mobile betting app available, which will allow you to bet on Preakness Stakes on the go, anywhere you are. But even if the bookie you are using does not have a mobile betting app, you can be sure that it will have a mobile version of the site.
What is the best Preakness betting advice if I had $100 to bet?
With a $100 budget for Preakness Stakes, you need to approach betting on it smartly and limit your exposure to one race. Depending on how many races you wish to bet on, you should calculate how much of your total budget are you ready to commit to one race, but the general rule is to use 1%-5% of your entire bankroll as a single unit – meaning a $1 or $5 wager on a single bet.