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2024 Preakness Stakes Betting Guide, Analysis, And Selections

The second leg of the Triple Crown, the 2024 Preakness Stakes, is coming up this Saturday at Pimlico. It features the Kentucky Derby winner looking to continue a march to horse racing immortality, and seven other 3-year-olds looking to spring an upset.

Preakness Stakes betting will be fast and furious this weekend in Baltimore (and across the country, with the best horse racing betting apps online). Our guide to the race has everything you need to know, plus one handicapper’s top-three selections!

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Mystik Dan Favored To Win The Preakness

#5 Mystik Dan prevailed in a three-horse photo finish to capture the 2024 Kentucky Derby. One would think such an effort would make him the Preakness favorite by default. He’ll certainly take the most betting money, but that wasn’t always the most likely outcome.

Muth was installed as the 8/5 morning line favorite at Monday’s post position draw. However, the Arkansas Derby winner spiked a fever and scratched Wednesday morning.

Mystik Dan was initially the 5/2 second choice. However, with Muth out of the race, he’ll be a much shorter price come post time, which is set for 7:01 pm Eastern time on Saturday evening.

Opponents Include Derby Returnees and “New Shooters”

Mystik Dan will face two runners he defeated two weeks ago at Churchill Downs. #3 Catching Freedom, who finished fourth in the Kentucky Derby, and #7 Just Steel, who finished 17th, are back for another try at Triple Crown glory.

Joining that trio in the Preakness Stakes starting gate will be five other runners. One, #6 Seize the Grey, won the Pat Day Mile on the Kentucky Derby undercard. Like Just Steel, Seize the Grey is trained by Hall of Famer D. Wayne Lukas.

Two others, #8 Tuscan Gold and #9 Imagination, earned minor awards in important Kentucky Derby prep races. The former was third in the Louisiana Derby, while the latter finished second in the Santa Anita Derby.

Longshots #1 Mugatu and #2 Uncle Heavy round out the field.

2024 Preakness Stakes Selections

I’m taking a stand against both Catching Freedom and Imagination. They’ll take money, but the former didn’t have much of an excuse in Kentucky and the latter hasn’t beaten much in California (and had every reason to beat Stronghold in the Santa Anita Derby). If either wins, they’ll beat me doing it.

Mystik Dan is incredibly logical, especially given the scratch of Muth and the weather forecast. That calls for rain all day long on Saturday, and Mystik Dan loves wet tracks (as evidenced by his romp in the Southwest Stakes earlier this year). If he’s ready on the quick turnaround following the Derby, I think he’s the one to beat.

Tuscan Gold is my second choice. Trainer Chad Brown has won the Preakness twice, both with horses that skipped the Kentucky Derby, and this is a lightly-raced horse that has plenty of room to grow.

My third choice, though, is a surprising one. Uncle Heavy needs to improve on speed figures, but he’s 2-for-2 over wet tracks and was compromised by a terrible post position in the Wood Memorial last time out. I think he’s sitting on a much better effort, and at his price, he hits me as a must-use.

  • 1st: #5 Mystik Dan
  • 2nd: #8 Tuscan Gold
  • 3rd: #2 Uncle Heavy

Other Preakness Stakes Betting Resources

Our All-Access pass includes a Preakness Stakes betting tip sheet. In addition to more analysis, that features a guide on how to bet the Preakness with a $100 budget, plus spot plays for three other races on the card.


  • 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.