Preakness Stakes Odds
How to Bet on The Preakness Stakes
The Preakness Stakes is the second leg of the prestigious Triple Crown that also comprises the Kentucky Derby and the Belmont Stakes. As one of the three headline acts of the US racing calendar, there are ample betting markets for bettors related to the Pimlico race. Here are the most popular options for bettors.
Futures
Futures markets are extremely popular for bettors wagering on the Preakness Stakes.
Preakness Stakes odds will usually open weeks, if not months ahead of the race, once a clearer picture of the runners appears for betting sites.
Placing bets early can hand bettors value given the uncertainty over the competitors in the race, their form and conditions on the day that can be so pivotal. It does come with a greater risk, although the rewards can be more profitable.
Check to see if your sportsbook offers non-runner no bet (NRNB) on futures bets relating to the Preakness Stakes, as this will guarantee your selection is void if your horse does not run in the event.
Win
Simply bet on which horse you believe will win the Preakness Stakes. If your selection wins, you'll receive a payout at the outright Preakness Stakes odds.
However, should your horse finish in any other position, your bet will settle as a loss.
Place
Place bets offer bettors a chance to secure a profit without their horse having to win the Preakness Stakes.
Place bets only require your horse to finish in the top two or three, depending on the sportsbook. Read the requirements of place bets before confirming your wager.
Each-Way
Bettors can use each-way bets to split their Preakness Stakes wagers into two.
Each-way bets ensure that bettors can cover their bases as one half is placed on your horse to win the race outright and the other half for it to place. If your horse wins, both parts of your bet will succeed.
If your horse fails, but finishes in the places, you'll receive a payout at a fraction of the outright odds, usually 1/5.
How to Read Preakness Stakes Odds
Preakness Stakes odds can be found in three different formats. Depending on your location, your chosen sportsbook will have a default format, but this can be altered in your account settings.
American odds are used most commonly used in North America. Your Preakness Stakes odds are signified with plus or a minus number.
The plus number highlights your potential profit for each $100 staked, while the minus number displays the amount required to be staked to make a $100 profit.
A $100 bet on a horse with Preakness Stakes odds of +200 would return a total of $300 if successful ($200 profit + $100 stake).
If the horse had odds of -400, a bettor would need to wager $400 to make a $100 profit on the Preakness Stakes.
What is the Preakness Stakes?
The Preakness Stakes is part of the US Triple Crown, the three most prestigious races in American horse racing. The race is held annually May as the second leg of the Triple Crown following the Kentucky Derby.
Pimlico Racecourse, in Baltimore, Maryland, stages the event and has done since the inaugural race in 1873.
The Preakness Stakes is open to three-year-old horses and is competed over a stretch of 1 and 3/16 miles of the Pimlico track. It is a Grade 1 race and carries a purse of $2m, with the winner earning $1.2m.
Preakness Stakes Facts
- Secretariat holds the record for fastest time of 1m 53 seconds
- Bob Baffert is the most successful trainer with seven wins (1997, 1998, 2001, 2002, 2010, 2015, 2018, 2023)
- Smarty Jones holds the biggest margin of victory by 11 1/2 lengths
Preakness Stakes Past Winners
| Year | Winner | Jockey | Trainer |
| 2025 | Journalism | Umberto Rispoli | Michael W McCarthy |
| 2024 | Seize the Grey | Jaime A Torres | D. Wayne Lukas |
| 2023 | National Treasure | John Velazquez | Bob Baffert |
| 2022 | Early Voting | Jose Ortiz | Chad Brown |
| 2021 | Rombauer | Flavien Prat | Michael W McCarthy |
Comparing Preakness Stakes Odds
At Gambling.com, we provide the latest, up-to-the-minute Preakness Stakes odds.
Preakness Stakes betting odds are updated in real time, giving bettors the best value on win and each-way bets for the race.
Horse racing odds regularly change, and we track and reflect each alteration via our custom odds comparison tool.
By regularly checking on Gambling.com and reading our expert horse racing betting tips, bettors stand the best chance of gaining the best value on their odds and potentially selecting the Preakness Stakes winner too.
