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Best Preakness Stakes Betting Sites

The Preakness Stakes is the second leg of horse racing’s Triple Crown. Every May, the eyes of the racing world shift to Maryland for the race known as “the run for the Black-Eyed Susans.” It’s one of the biggest horse racing betting opportunities of the year, and you won’t want to miss it.

Curious about 2024 Preakness Stakes betting this weekend? Here’s everything you’ll need to know.

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2024 Preakness Stakes: Quick Facts

πŸ—“οΈ Date: May 18, 2024.

πŸ“ Location: Pimlico Race Course; Baltimore, Md.

πŸ‡ Distance: The Preakness is run over 1 3/16 miles (9 1/2 furlongs).

🐎 Number of horses: Up to 14.

πŸ’° 2024 Preakness Stakes purse: $2 million (up from $1.5 million in 2023).

πŸ“† Last Updated: May 17, 2024.

2024 Preakness Stakes Field, Odds, And Updates

PP Horse Trainer Jockey Odds
#1 Mugatu Jeff Engler Joe Bravo 20-1
#2 Uncle Heavy Butch Reed Irad Ortiz, Jr. 20-1
#3 Catching Freedom Brad Cox Flavien Prat 6-1
#4 Muth Bob Baffert Juan Hernandez SCRATCHED
#5 Mystik Dan Ken McPeek Brian Hernandez, Jr. 5/2
#6 Seize the Grey D. Wayne Lukas Jaime Torres 15-1
#7 Just Steel D. Wayne Lukas Joel Rosario 15-1
#8 Tuscan Gold Chad Brown Tyler Gaffalione 8-1
#9 Imagination Bob Baffert Frankie Dettori 6-1

The Preakness field was drawn Monday, but took a significant hit Wednesday morning. Muth was scratched from the race due to a fever. He was the 8/5 morning line favorite, and his defection means Mystik Dan (the Kentucky Derby winner) will almost certainly be favored come post time.

Preakness Stakes betting promos you can use

There are several different horse racing betting sites on the market. We recommend TwinSpires, FanDuel Racing, and AmWager, and those three platforms are offering attractive bonuses for new users.

  • TwinSpires promo code TWIN400: $400 in bonus bets (4x playthrough required)
  • FanDuel Racing promo code: Up to a $500 No Sweat First Bet ($20 in some states)
  • AmWager promo code: First deposit match up to $150

Click our links above to sign up and gain access to the best Preakness Stakes betting promos!

  • Availability: Online betting for the Preakness is available in over forty states.
  • Maryland Betting: As the host, Maryland permits residents to engage in online betting for the Preakness.
  • Prominent Betting Sites: Platforms like AmWager, TwinSpires, and FanDuel Racing are available, depending on the state.
  • State-Specific Options: Some states may have unique platforms; for example, New Jersey has 4NJBets, tailored for its residents.

How to sign up for a Preakness Stakes betting site

Signing up for a Preakness betting site is similar to signing up for an online sportsbook. There are several steps to be aware of, and we’ve outlined them below:

  • Account Creation: Choose a licensed betting site, create a user account by providing personal details.
  • Identity Verification: Verify your identity as required by the betting site to comply with state regulations.
  • Deposit Funds: Add funds to your account using the site’s approved banking methods.
  • Welcome Bonuses: Look for sign-up offers or bonuses and understand the terms for claiming them.
  • Start Betting: Once your account is set up and funded, you’re ready to place your bets on the Preakness Stakes.

How to bet on the Preakness Stakes

Betting on the Preakness Stakes involves a few steps that can vary slightly depending on the platform you use. Here’s a general process that you can follow:

1. Choose a Betting Site: Select a reputable and legally operating betting site in your state.

2. Create an Account: Register with your personal details. You’ll likely need to provide some form of ID for verification.

3. Deposit Funds: Add money to your betting account using one of the available banking methods.

4. Understand the Odds: Learn how the odds work for horse racing. The lower the odds, the higher the chance the horse is believed to have to win, but the payout will be smaller.

5. Learn the Bets: Familiarize yourself with the types of bets you can place, such as win, place, show, exacta, trifecta, and superfecta.

6. Place Your Bets: Choose the horse(s) you want to bet on and decide the type of bet you want to make.

7. Watch the Race: Tune in to the race on the scheduled date to see the outcome of your bet.

How We Review Preakness Stakes Betting Apps

When reviewing Preakness Stakes betting apps, our evaluation process is thorough and multifaceted, focusing on the following key aspects:

  • User Experience: How user-friendly is the app? We consider navigation, design, and overall ease of use.
  • Functionality: The app’s stability, speed, and the presence of essential features like live betting, race replays, and betting tips.
  • Betting Options: Diversity and range of betting markets available for the Preakness Stakes and other races.
  • Odds Comparison: We compare odds offered on the Preakness Stakes across different apps to ensure bettors get competitive odds.
  • Customer Support: Accessibility and quality of customer support, including live chat, email, and phone support.
  • Security: The app’s licensing, regulation, and security measures in place to protect user data and financial transactions.

Picking a Preakness Stakes winner

There are several important steps to take in picking a winner of any race, let alone this one. With a big field to dissect, there are a few things to be mindful of that we’ll dive into below:

  • Study the Contenders: Begin by researching the horses, focusing on their past performances, especially in prep races leading up to the Preakness Stakes.
  • Consider the Post Positions: Some post positions historically have better success rates than others. Check the draw results and historical data.
  • Analyze the Odds: Odds can give insights into which horses are considered favorites by experts and bettors, but remember that underdogs can also prevail.
  • Trainer and Jockey Records: The experience and success rate of a horse’s trainer and jockey in major races can significantly impact the outcome.

Dive deeper into Preakness Stakes prep races

The Derby is a crucial indicator of a horse’s form leading into the Preakness Stakes. Horses that ran well two weeks prior, against a similar-quality field, could be in position to replicate those efforts in the Preakness.

Some horses might have competed in local prep races at Pimlico or nearby tracks, offering valuable insights into their adaptability and performance. Assess how horses have recovered from their last races and their training performances between races.

Watch the weather

Rain can lead to a muddy track, which can affect the performance of the horses, favoring those who have proven form on softer ground.

Extreme conditions can affect a horse’s ability to perform at its best. Monitor the weather forecasts leading up to the race day.

Don’t ignore the humans

Jockeys’ decisions during the race, from positioning to when they choose to push their horse, can dramatically impact the outcome.

Just as importantly, a trainer in good form, with multiple recent wins, can indicate a stable that is performing well. Pre-race interviews or statements can sometimes provide hints about the horse’s condition and race expectations.

Preakness Stakes FAQs

Which is the best Preakness Stakes betting app?

There are several Preakness Stakes betting apps you can use to enjoy the day. Apps like AmWager, TwinSpires, and FanDuel Racing provide strong betting experiences, and we recommend trying them to see which wagering environment you prefer.

How is the favorite for the Preakness Stakes chosen?

Early Preakness Stakes odds are announced when the race is drawn a few days ahead of time. A morning line favorite is chosen based on who the track’s handicapper believes will be bet by the public. Usually, this is the Kentucky Derby winner (although, in 2024, it was initially Arkansas Derby winner Muth).

What is the most successful Preakness Stakes post position?

Post position 6 has produced the most Preakness Stakes winners since 1909, when the race first started using a starting gate. A total of 16 winners have broken from that post. Post positions 4 and 7, meanwhile, have each housed 14 winners.

The worst post position, unsurprisingly, is post position 14. No Preakness winner has ever started from the far outside.

Is betting on the Preakness Stakes worth it?

Betting on horse racing isn’t easy, but the payoffs reflect a possible financial windfall if you’re right. No betting favorite has won the Preakness since 2018, when Triple Crown winner Justify finished first. Last year’s winner, National Treasure, paid $7.80 to win at odds of nearly 3-1.

The biggest longshot in Preakness history came in 1975. That year, Master Derby sprang the upset at odds of 25-1.

Author

  • Andrew Champagne

    Andrew Champagne is a Senior Editor at Raketech. A passionate storyteller, handicapper, and analyst, Andrew lives in Northern California's Bay Area. He can often be found planning his next trip to Las Vegas, bowling reasonably well, or golfing incredibly poorly.