The Preakness Stakes is the second leg in horse racing’s Triple Crown. The race is held annually at Pimlico Race Course in Baltimore, Maryland, on the third Saturday in May, two weeks after the Kentucky Derby.
Like all Triple Crown races, the Preakness features the best three-year-olds in thoroughbred racing. The Preakness is the race that can set the Kentucky Derby winner up with a chance to win the Triple Crown in the final leg at the Belmont Stakes in June.
Here’s everything else you need to know about betting on the Preakness Stakes in Kentucky, including the latest Preakness odds and how to bet online.
Current Preakness Stakes odds
The 2024 Preakness Stakes will take place on May 18, 2024. The field has yet to be set. Therefore, there are no current Preakness betting odds. Once the field is set, the odds will be found in this space.
The 2023 Preakness was the 148th running of the race, won by National Treasure. Longshot 2023 Kentucky Derby winner Mage finished third at the Preakness, eliminating the possibility of a 2023 Triple Crown winner. Here are the complete results with the morning line and final odds:
| Finish | Horse | Jockey | Trainer | Closing Line | Morning Line |
|---|---|---|---|---|---|
| 1 | National Treasure | John Velazquez | Bob Baffert | 5-2 | 4-1 |
| 2 | Blazing Sevens | Irad Ortiz Jr. | Chad C. Brown | 9-2 | 6-1 |
| 3 | Mage | Javier Castellano | Gustavo Delgado | 7-5 | 8-5 |
| 4 | Red Route One | Joel Rosario | Steven Asmussen | 8-1 | 10-1 |
| 5 | Chase the Chaos | Sheldon Russell | Ed Moger Jr. | 10-1 | 50-1 |
| 6 | Perform | Feargal Lynch | Claude R. McGaughey III | 8-1 | 15-1 |
| 7 | Coffeewithchriss | Jamie Rodriguez | John Salzman Jr. | 10-1 | 20-1 |
How to bet on the Preakness
When it comes to betting, the Preakness Stakes is like any other horse race. That means the following basic horse bets are available at all of the best Kentucky horse betting apps.
- Win: This is where you bet on a horse to win. You’ll see morning odds estimating each horse’s winning chances on race day. If your horse wins, you get paid at the final odds calculated once all the bets are in. These are shown as decimal odds that tell you how much every $1 bet pays.
- Place: This is where you bet on a horse to win or finish second. You’ll see morning odds estimating each horse’s winning chances on race day. If your horse wins or comes in second, you get paid at the final odds calculated once all the bets are in. These odds are significantly shorter than win odds and are also shown as decimal odds that tell you how much every $1 bet pays.
- Show: This is where you bet on a horse to win, finish second, or come third. You’ll see morning odds estimating each horse’s winning chances on race day. If your horse wins or comes in second or third, you get paid at the final odds calculated once all the bets are in. These odds are significantly shorter than win or place odds and are also shown as decimal odds that tell you how much every $1 bet pays.
- Exacta: This is where you bet on two horses to finish first and second in exact order. The odds are longer and pay significantly more because you have to pick the first and second-place horses in exact order. Exactas can also be boxed, allowing you to place another bet flipping the finishing order of the two horses. The $1 exacta paid $12.90 at the 2023 Preakness Stakes.
- Trifecta: This is where you bet on three horses to finish first, second and third in exact order. The odds are longer and pay significantly more because you have to pick the first, second, and third-place finishers in exact order. Trifectas can also be boxed, allowing you to bet on every different finishing position combination of the same three horses. The $1 trifecta paid $33.25 at the 2023 Preakness Stakes.
- Superfecta: This is where you bet on four horses to finish first, second, third, and fourth in exact order. The odds are as long as they come, and a hefty payout is expected when you pick the top four horses in exact order. Superfectas can also be boxed, allowing you to bet on all finishing order combinations of the same four horses. However, boxing a superfecta is expensive. The $1 superfecta paid $162.90 at the 2023 Preakness Stakes.
- Wheeling: You can also wheel exacta, trifecta and superfecta bets. This involves fixing the finishing position of certain horses and placing multiple additional bets with different horses in the other finishing positions.
Where to bet the Preakness Stakes in KY
There are five thoroughbred race tracks and one harness racing track in Kentucky. Kentucky’s thoroughbred race tracks are:
- Churchill Downs in Louisville
- Keeneland Race Course in Lexington
- Turfway Park in Florence
- Kentucky Downs in Franklin
- Ellis Park in Henderson
Kentucky’s only harness racing track is The Red Mile in Lexington.
All six tracks offer simulcast racing and wagering. That means you can bet on the Preakness in person at these tracks. There are no off-track betting parlors in Kentucky.
However, FanDuel Racing offers legal online horse racing betting in Kentucky. Churchill Downs also offers legal online horse racing betting via the TwinSpires app and website. Plus, most legal and licensed online sportsbooks in Kentucky should take bets on Triple Crown races such as the Preakness and other big events in horse racing.
Betting on the Preakness with FanDuel Racing
FanDuel currently offers the most convenient way to bet on the Preakness Stakes in Kentucky. You can simply download the FanDuel app to any phone, tablet or computer from the Apple App Store for Apple devices and the TVG website for Android devices.
Once you’ve got the app installed on your device, betting on the Preakness is a simple five-step process:
- Sign up for an account.
- Deposit funds into that account.
- Browse the Preakness field and click on the odds for any bet you like, including any horse to win, place or show.
- Fill out the instantly created bet slip, add bets, build exactas, trifectas and superfectas, box or wheel your bets, and tell TVG how much you want to wager on each bet.
- Click to confirm and place all bets on the slip.
In addition, new users can join FanDuel Racing and receive a No Sweat First Bet of up to $500 to use on any race at any event. No FanDuel promo code required. All customers are also eligible for a $20 No Sweat First Bet on the Preakness Stakes.
Betting on the Preakness in person
All six Kentucky horse race tracks offer simulcast racing and wagering. That means you can bet on the Preakness in person at the following Kentucky race tracks:
| Kentucky Racetracks | Address | Owned & Operated By | Notable Race |
|---|---|---|---|
| Churchill Downs | 700 Central Ave, Louisville, KY 40208 | Churchill Downs Incorporated | Kentucky Derby |
| Keeneland Race Course | 4201 Versailles Rd, Lexington, KY 40510 | Keeneland Association Inc. | Ashland Stakes |
| Turfway Park | 7500 Turfway Rd, Florence, KY 41042 | Churchill Downs Incorporated | Jeff Ruby Steaks |
| Kentucky Downs | 5629 Nashville Rd, Franklin, KY 42134 | Ron Winchell & Marc Falcone | Kentucky Turf Cup |
| Ellis Park | 3300 US Hwy 41 N, Henderson, KY 42420 | Churchill Downs Incorporated | The Claiming Crown |
| The Red Mile (Harness) | 1200 Red Mile Rd, Lexington, KY 40504 | Lexington Trots Breeders Association | Kentucky Futurity |
Betting on the Preakness with KY online sportsbooks
Some licensed Kentucky online sports betting sites will also take bets on Triple Crown races like the Preakness. Just make sure to read the terms and conditions surrounding horse betting with these sportsbooks.
That way, you’ll know whether the sportsbook participates in the same pari-mutuel betting available at Kentucky racetracks and online horse race betting apps. Some will not and will, instead, offer separate wagering with shorter odds and possible payout caps.
2024 Preakness favorites
As it almost always is, the field in the 2024 Preakness will be filled with horses from the Kentucky Derby field, including the winner. Therefore, without knowing exactly which horses will be in either field, particularly the Preakness, the current favorites to win the next Derby can also be considered the favorites to win the Preakness.
The Road to the Preakness Stakes
The Preakness Stakes field is limited. A maximum of 14 horses compete, compared to 20 in the Kentucky Derby. The field usually includes the winner and several other Kentucky Derby starters.
However, the Preakness also attracts other horses who may have qualified through the Maryland Jockey Club’s qualifying series. The winners of the Federico Tesio at Laurel Park, Oaklawn Invitational at Oaklawn Park, and El Camino Real Derby at Golden Gate Fields all qualify for a spot in the field at the Preakness.
InfieldFest
For years, Pimlico has also hosted InfieldFest on race day, a music festival held in the infield at Pimlico alongside the Preakness Stakes. The event has now become Preakness LIVE. The festival features pop-ups from local restaurants serving signature favorites and a musical lineup. The 2023 iteration was headlined by Grammy-winning pop star Bruno Mars.
Preakness Stakes history
Here’s a look back at some of the greatest moments in Preakness history:
- 1973: Secretariat won the 1973 Preakness in a record time of 1:53. The record still stands today.
- 1980: On the final turn, Codex bumped Kentucky Derby winner Genuine Risk, grabbed the lead, and held on to win despite some calling for a DQ.
- 2005: Afleet Alex did not win the Kentucky Derby, but this preseason Triple Crown favorite did not disappoint in the Preakness Stakes. Afleet Alex won by five lengths and also won the Belmont.
- 2015: On a rainy day at Pimlico, American Pharoah won the Preakness by seven lengths. The horse then went on to win the Belmont, and since he’d also won the Derby, he became the first Triple Crown winner in 37 years.
- 2018: On a foggy day at Pimlico, Justify won the Preakness two weeks after victory at the Kentucky Derby. This horse went on to win the Belmont and become the second Triple Crown winner in four years.
The Triple Crown
The Triple Crown of Thoroughbred Racing includes the Kentucky Derby, the Preakness Stakes and the Belmont Stakes. The same three-year-old thoroughbred must win all three to be considered a Triple Crown winner. All three races are run in May and June, as listed here.
Sir Barton was the first Triple Crown winner. He won it in 1919. Only 12 other horses have won the Triple Crown. Justify was the most recent Triple Crown winner, winning in 2018, three years after American Pharoah broke a 37-year drought.
Twenty-three horses have won the Kentucky Derby and the Preakness but failed to complete the Triple Crown in the Belmont.
See more:
- Kentucky Derby betting odds
- Kentucky Oaks betting odds
- Belmont Stakes betting odds
- Breeders’ Cup betting odds
Preakness Stakes FAQ
When is the 2024 Preakness Stakes?
The 2024 Preakness Stakes is scheduled for Saturday, May 18, 2024. It is the second leg of the Triple Crown following the Kentucky Derby and ahead of the Belmont Stakes in June.
How much will the Preakness winner earn?
The Preakness had a total purse of $1.5 million in 2023. The winner earned 60% of that, or $900,000. The rest of the payouts included:
- $300,000 for 2nd
- $165,000 for 3rd
- $90,000 for 4th
- $45,000 for 5th
How many fillies have won the Preakness?
Only six fillies (females) have won the Preakness Stakes in the race’s nearly 150-year history. Swiss Skydiver did it in 2020, becoming the first winning filly since Rachel Alexandra in 2009. Here’s the complete list of Preakness Stakes winning fillies:
- 2020 – Swiss Skydiver
- 2009 – Rachel Alexandra
- 1924 – Nellie Morse
- 1915 – Rhine Maiden
- 1906 – Whimsical
- 1903 – Flocarline
When is post time at the Preakness?
The traditional post time for the race is 6:45 p.m. EST in Baltimore. You must place all your Preakness bets before post time.
Who holds the Preakness Stakes speed record?
Secretariat holds the Preakness speed record, officially running the 1 and 3⁄16 mile track in 1:53 in 1973. Secretariat also holds the record in the other two Triple Crown races. Secretariat’s time in the Preakness was initially posted as 1:55, then changed to 1:54 2⁄5, and finally decided in 2012 to be 1:53, following testimony and replay evidence presented to the Maryland Racing Commission.
