Preakness Stakes Betting

The Preakness Stakes — Quick Facts

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• Where: Pimlico Race Course, Baltimore, Maryland.
• When: Third Saturday of May, annually.
• Distance: 1 3/16 miles (9.5 furlongs).
• Field: Maximum 14 three-year-old thoroughbreds.
• Purse: $1.65 million (recent years).
• Triple Crown context: Second leg, two weeks after the Kentucky Derby.

How to Bet the Preakness

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You have two betting paths in Maryland:

Maryland Sportsbook Markets (Limited)

Maryland sportsbooks (FanDuel, DraftKings, BetMGM, Caesars, bet365 and others) typically post limited fixed-odds Preakness markets in the days leading up to the race:

• Win odds on each entered horse
• Triple Crown futures (single horse to win all three legs)
• Occasional match-up props (Horse A vs Horse B, head-to-head)

Pari-Mutuel Racing Platforms (Full Coverage)

For complete pari-mutuel wagering — exactas, trifectas, superfectas, daily doubles, pick threes — use a dedicated horse-racing platform legal in Maryland:

• FanDuel Racing — same FanDuel account, separate racing app.
• TwinSpires — Churchill Downs-owned, comprehensive wagering.
• TVG — racing-focused with extensive coverage.

Common Preakness Bet Types

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• Win — your horse must finish first.
• Place — your horse finishes first or second.
• Show — your horse finishes first, second, or third.
• Across the Board — combines Win + Place + Show on a single horse.
• Exacta — pick the first two finishers in exact order.
• Trifecta — pick the first three finishers in exact order.
• Superfecta — pick the first four finishers in exact order.

Strategy for the Preakness

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• Watch the Kentucky Derby winner. Triple Crown narrative drives heavy money on the Derby winner — sometimes inflating their Preakness price beyond true odds.
• Look for Derby fade horses. Horses that ran into traffic or tired late in the Derby often offer value at the shorter Preakness distance.
• Pace matters. Pimlico\'s tight turns favor speed early. Front-runners or stalkers historically perform well.
• Weather can flip the race. Heavy rain creates a sloppy track that materially changes performance — some horses excel on off-tracks, others fade.