How to bet on the Preakness Stakes: Betting guide, odds, picks, tips, promos, offers, jockeys at Laurel Park

Wagering is open for the 151st Preakness Stakes until post time at 6:50 p.m. ET on Saturday, May 16. Remember, you cannot bet on the Preakness Stakes on sportsbook apps. Here are the top Preakness Stakes betting sites:

2026 Preakness Stakes odds

Here is the field for the 151st Preakness Stakes. There were 14 horses that drew into the Run for the Black-Eyed Susans this year. Click on the odds to wager now.

Preakness betting: No. 1 Taj Mahal

Taj Mahal is the lone unbeaten horse in this Preakness field, but he is also untested. All three wins were also at Laurel Park, giving him the home track advantage, if there is such a thing. He will be the local favorite after winning the Preakness Prep in Maryland, the Federico Tesio. That is a Listed Stakes race, below the level of Grade I, II and III stakes races. The question is whether this is too big a step up in class vs. other horses that have been on the Road to the Kentucky Derby circuit of stakes races.

Preakness betting: No. 2 Ocelli

Everybody always wonders which longshot horse will hit the board in the Kentucky Derby. This year, it was Ocelli finishing third at 70-1 odds. Now, he's a fraction of that price in the Preakness, albeit in a much weaker field. The formula was the same in the Derby as it was in the Wood Memorial: hope for fast early fractions and start passing horses with a big late kick as one of the best closers in the race.

Can he get another hot pace to run into in this Preakness?

Preakness betting: No. 3 Crupper

Crupper has never run in a Graded Stakes race, so this will be a big step up in class, despite winning the Bathhouse Row listed stakes race at Oaklawn Park last time out. Before that, he had only ever run in Allowance and Maiden races.

Preakness betting: No. 4 Robusta

Robusa fell victim to being near the lead with fast early fractions in the Kentucky Derby, ultimately finishing 14th. The pace will have to be milder in the Preakness for this frontrunner to have a chance.

Prior to the Derby, Robusta finished 7th in the Santa Anita Derby and second in the San Felipe at Santa Anita in California. He has not won since breaking his Maiden as a two-year-old, but there are also horses in this Preakness that have not run in graded stakes races like him.

Preakness betting: No. 5 Talking

Talkin won on debut and has not won since that seven-furlong race in Augusta. However, he's faced very stiff competition. All of his other four races have been graded stakes races, hitting the board in two of them: a second behind fellow Preakness runner Napolean Solo in the Grade I Champagne for juveniles in October and a third in the Blue Grass Stakes in April.

Preakness betting: No. 6 Chip Honcho

Chip Honcho's connections opted not to run in Kentucky Derby after a fifth-place finish in the Louisiana Derby. He did finish second in the Grade II Risen Star before that at Fair Grounds. Perhaps it was the right move, as the field is far weaker here, leading to a very short price at 5-1 for a horse that has not won since the Gun Runner in December.

Preakness betting: No. 7 The Hell We Did

A horse that did not run in a Kentucky Derby prep race until the very last one, The Hell We Did might be an interesting price in a weaker Derby field. He finished second in the Grade III Lexington Stakes at 1 1/16 miles, his first effort stretching out after running six furlongs in his three previous efforts. This will also be his fifth different track in five races.

Preakness betting: No. 8 Bull By The Horns

The deepest of closers in the field, Bull By The Horns might not even be in the TV picture on the backstretch. But if the Preakness pace is as hot early as it was in the Derby, look for him to come rolling from way back down the stretch, just like Golden Tempo did in the Derby.

That's exactly how Bull By The Horns won his last race, the Rushaway listed stakes race at Turfway Park in March. He finished 7th in the Grade II Fountain of Youth before that, but the top finishers in that race are not here.

Preakness betting: No. 9 Iron Honor

Iron Honor ships in from the Aqueduct circuit of Kentucky Derby prep races. He won the Grade III Gotham before a disappointing seventh in the Wood Memorial. Iron Honor stalked a hot early pace in the Wood Memorial and fell apart late, passed by winner Albus and others.

Clearly, his connections feel this Preakness might offer a better pace scenario. It appears he'll need it, as he was nowhere near the picture at 1 1/8 miles with fast fractions, and the Preakness is 1 3/16 miles. The morning line agrees, making him the favorite when betting opens.

Preakness betting: No. 10 Napoleon Solo

The story was much the same for Napoleon Solo in the Wood Memorial as it was for Iron Honor. He set the pace, the pace was too hot and he faded, ultimately finishing fifth. He also finished fifth in the Derby prep race before that, the Grade II Fountain of Youth.

He won at six furlongs and a mile in the Grade 1 Champagne as a juvenile, but can he handle the nine furlongs in the Preakness? Can his jockey help this horse settle early for milder early fractions?

Preakness betting: No. 11 Corona de Oro

The Hell We Did and Corona de Oro have similar paths, not racing in any Kentucky Derby prep race until the final one at the Lexington Stakes. He finished third behind The Hell We Did and Trendsetter.

Before that, he broke his Maiden on the fourth attempt at Fair Grounds, failing at six and seven furlongs but doing so at eight-and-a-half furlongs. Can he get the nine-and-a-half furlongs the Preakness now requires?

Preakness betting: No. 12 Incredibolt

Incredibolt won the one-turn Virginia Derby before finishing sixth in the Kentucky Derby. He sat midpack behind a hot pace but could not outkick the top finishers down the stretch. His story as a three-year-old seems to be a contender against weaker fields but struggles against horses thought to be closer to the top of this crop. That was also the case at Gulfstream Park with a sixth-place finish in the Grade III Holy Bull.

At 5-1, two questions loom. Is this field a step down in class? Is two weeks between races too quick of a turnaround?

Preakness betting: No. 13 Great White

Great White reared up behind the starting gate at the Kentucky Derby, unseated his rider and fell backwards. Out of an abundance of caution, the track vet scratched him from the race. He came out of that incident healthy and is ready to run at the Preakness.

An enormous horse, he was still a longshot in the Derby after finishing fifth at the Blue Grass Stakes. Fellow Preakness runner Talkin finished third. That was his first try on dirt after only running on synthetic. He'll try dirt again in the Preakness.

Preakness betting: No. 14 Prett Boy Miah

This horse has never finished worse than fourth in a race, but the level of competition calls his chances into question. The Preakness will be his first stakes race, and he has yet to run longer than one mile. However, he won by four in his last race despite fast early fractions. Is this the horse that has tactical speed despite an enormous step up in class?

Preakness betting promos and bonus offers

DraftKings Racing: Win a share of $151,000 if your horse wins

DraftKings Racing users can opt in and compete for a share of a $151,000 prize pool on Saturday night. All users who correctly wager $5+ on the winning Preakness Stakes horse will split a share of the King of the Track pool. Sign up for DraftKings Racing here and take your shot at a share of $151,000:

1/ST BET exclusive offer: Up to $500 in wagering credits

The offer elsewhere for 1/ST BET is up to $200 in wagering credits, but this exclusive 1/ST BET promo code 500BET unlocks up to $500 in wagering credits.

The 1/ST BET promo code is similar to TwinSpires, but it gives new users $20 in wagering credits for every $100 wagered, and the maximum bonus is $500 in wagering credits. However, users have 60 days (twice as long) to max out their bonus, and you'd need to wager $2,500 total to receive your full $500 in wagering credits. Click here to get up to $500 in wagering credits:

Preakness Betting Trends

In this era, the Preakness debate comes down to class vs. rest. Do you want to back a better horse that qualified for the Kentucky Derby but only has two weeks of recovery, or do you want to back a "new shooter" who didn't run in the Derby and may be more likely to give his A+ effort?

This year's Preakness field does not include any of the post-time favorites from the Kentucky Derby. It does include some others, including Ocelli, who finished third. Last year, Journalism broke a streak of five straight years of the Preakness winner not running in the Derby.

Here is the winner of each Preakness since 2010 and whether they ran in the Kentucky Derby (or on Derby Day two weeks prior):

Preakness Stakes post position betting

The 2026 Preakness Stakes post positions have been revealed, so let's take a detailed look at post position betting ahead of the 151st Run for the Black-Eyed Susans.

The Preakness Stakes is often a highly competitive race, having been decided by a head or less on 19 occasions, the last such occurrence being when National Treasure edged Blazing Sevens by a head in 2023. With that being said, horses breaking from the earlier positions, such as post 1 through 5, often have a slight advantage because they're starting closer to the rail.

Post 6 has produced the most winners in Preakness Stakes history with 17. However, there has been just one winner that has started from post 6 since Oxbow claimed victory in 2013. That was Rombauer in 2021. Other historically good starting positions include posts 4, 5, and 7, which are all tied for the second-most victories at 14. Post 2 has the next most victories with 13, including the 2025 winner, Journalism.

Meanwhile, post 14 has failed to produce a single Preakness Stakes champion, and post No. 13 has produced just one winner in this historic race.

Another statistic worth noting before placing your 2026 Preakness Stakes wagers, the last three Preakness winners have started at gate No. 5 or lower.

Preakness Stakes betting options and wagers

Win

A win bet is simply a bet on which horse will win the race. You get paid only if your horse finishes first.

Place

A place bet allows you to make money if your horse finishes first or second. However, you will not earn as much money as a win bet if your horse wins.

Show

A show bet is a wager on a horse to finish first, second or third. You get paid in any of those situations, but your payout is only the show payout.

Win/Place/Show

This combines win, place and show into one bet. If your horse wins, you get all three payouts, if it comes in second, you get place and show, and if it finishes third, you get just the show payout. The wager is split into three equal bets.

Exactas

Exactas require you to correctly choose the top two finishers in exact order. If you play a 2-7 exact, the No. 2 horse must win and the No. 7 horse must finish second.

Trifectas

Trifectas are similar to exactas, except they offer an even higher payout, as bettors must pick horses to finish first, second and third in exact order. A 1-3-9 trifecta means the No. 1 horse must win, the No. 3 horse must finish second and the No. 9 horse must finish third.

Superfectas

Superfectas add a fourth horse to the ticket, as you must pick the horses that finish first, second, third and fourth in the correct order.

Super Hi-5

A Super Hi-5 adds a fifth horse to the equation, with bettors needing to correctly select the first five horses to cross the finish line in exact order. These are sometimes called "pentafecta" bets.

Box wager

A box wager is an exotic bet where bettors select multiple horses to finish in the top positions in any order, covering all combinations. This increases winning chances, but it also costs more to pay for every combination. These can be used with multiple types of exotic wagers, such as exactas, trifectas and superfectas.

Daily Double

This wager combines two races into one ticket, as you must select the winner of two consecutive races. The bets must be placed before the first race starts.

Pick 3, 4, 5, 6 wager

These bets combine at least three races into one ticket. You must pick the winner of three consecutive races in a Pick 3, four consecutive races in a Pick 4, five consecutive races in a Pick 5 and six consecutive races in a Pick 6. The Pick 6 wager can offer the biggest payouts in horse racing betting, as it is extremely challenging to get all six races correct.

Preakness Stakes betting calculator

When you're betting on the Preakness Stakes, horse racing betting sites and apps will let you add multiple horses to your win bets, exactas, trifectas, and more. However, the more horses you add, the more expensive your ticket gets, and it even becomes possible to cash a ticket that pays out less than the cost of the ticket.

Here's what common exotic tickets will cost you, depending on how many horses you include in your boxed wager.

$2 Win/Place/Show betting calculator

If you place a $2 win/place/show wager on a horse in the Derby, it is the same as placing three separate bets on the horse: $2 to win, $2 to place (finish top two), $2 to show (finish top three). Therefore, that wager costs $6.

The more horses you add to a win/place/show ticket, the higher the cost of the wager:

• Two-horse W/P/S ticket: $12
• Three-horse W/P/S ticket: $18
• Four-horse W/P/S ticket: $24
• Five-horse W/P/S ticket: $30
• Six-horse W/P/S ticket: $36
• Seven-horse W/P/S ticket: $42
• Eight-horse W/P/S ticket: $48
• Nine-horse W/P/S ticket: $54
• 10-horse W/P/S ticket: $60

$2 Exacta box betting calculator

An exacta is a wager that tries to predict the top two finishers in the race in the exact order of finish. An exacta box allows for the horses you choose to finish in any order.

• Two-horse exacta box: $4
• Three-horse exacta box: $12
• Four-horse exacta box: $24
• Five-horse exacta box: $40
• Six-horse exacta box: $60
• Seven-horse exacta box: $84
• Eight-horse exacta box: $112
• Nine-horse exacta box: $144
• 10-horse exacta box: $180

$1 Trifecta box betting calculator

A trifecta is a wager that tries to predict the top three finishers in the race in the exact order of finish. A trifecta box allows for the horses you choose to finish in any order.

• Three-horse trifecta box: $6
• Four-horse trifecta box: $24
• Five-horse trifecta box: $60
• Six-horse trifecta box: $120
• Seven-horse trifecta box: $210

$1 Superfecta box betting calculator

A superfecta is a wager that tries to predict the top four finishers in the race in the exact order of finish. A superfecta box allows for the horses you choose to finish in any order.

• Four-horse superfecta box: $24
• Five-horse superfecta box: $120
• Six-horse superfecta box: $360

How Preakness Stakes betting payouts differ from sportsbooks

Horse racing betting is a different system than traditional sports betting, and it is important for bettors to understand that before placing wagers. It generally uses pari-mutuel wagering, which means bettors are betting against each other instead of the sportsbook. All the money goes into the pool, the operator takes a percentage (the takeout), and then the remaining pool is divided among winning tickets.

Odds change continuously before the race starts, and your payout depends on how everyone else bets. Payouts generally stay low when favorites win, while a longshot entering the mix can create huge payouts. A $2 exacta at last year's Preakness Stakes paid $33.80, while a $1 trifecta paid $73.50 and a $1 superfecta paid $303.40.

Preakness Stakes records

The Preakness Stakes began in 1873, but it was not run from 1891 to 1893, so this is the 151st edition of the race. Since 2020, a pair of horses rank inside the top 10 for fastest winning times, including Swiss Skydiver posting the second-fastest time ever in 2020 (1:53.28).

Fastest time

Secretariat is the most famous horse in history, and he still holds the fastest winning time in Preakness history, which he set in 1973 at 1:53:00. He went on to win the Triple Crown that year.

Slowest winning time

The slowest winning time since the Preakness moved to the 1 3/16-mile distance in 1925 is 1:57.54, which was set by Oxbow in 2013. He led the entire race to win the 138th running.

Largest margin of victory

While Secretariat has the fastest Preakness time, he does not have the largest margin of victory. That distinction belongs to Smarty Jones, who won by 11.5 lengths in 2004. Triple Crown winner American Pharoah won by seven lengths in 2015, which was tied for the sixth-largest margin in history.

Biggest longshot

The Preakness produces fewer longshot winners than the Kentucky Derby due to having smaller fields, so Master Derby (23-1) is the biggest longshot winner of this race, which came in 1975. Other longshots to win the race include Coventry (21-1 in 1925) and Display (19-1 in 1926).

Most wins by a trainer

Hall of Fame trainer Bob Baffert has won the race eight times, the most by a trainer all time. He won his eighth Preakness Stakes in 2023 (National Treasure), and he is seeking a record-extending ninth win on Saturday.

Most wins by an owner

Calumet Farm has won this race seven times, with six of them coming between 1940 and 170, while the seventh came in 2013. The farm has produced 10 Kentucky Derby winners, more than any other operation. It is both the leading breeder and leading owner of the Preakness.

Most wins by a jockey

Eddie Arcaro holds the record for most wins by a jockey with six, which came in the 1940s and 1950s. Arcaro won more American classic races than any other jockey in history and is the only rider to have won the Triple Crown twice.

Largest attendance

The record attendance for the Preakness was set in 2017 with a crowd of 140,237 at Pimlico Race Course, but this year's edition is being held at Laurel Park. The capacity is being capped at just 4,800 attendees, with the focus being on high-priced packages.

Largest betting handle

The most money bet on a Preakness day was $112,504,509 in 2021, while last year's handle was $110,043,794, the second-highest total ever.

Triple Crown winners at the Kentucky Derby

A horse has to win three races to claim the coveted Triple Crown, including the Kentucky Derby, the Preakness Stakes and the Belmont Stakes. Only 13 horses have ever won the American Triple Crown. There will not be a Triple Crown winner in 2026 after Golden Tempo decided to skip this race, marking the second straight year that the Kentucky Derby winner will not compete at the Preakness.

Sir Barton (1919)

Sir Barton etched his name in history when he became the first horse to win the Triple Crown. Sir Barton claimed the 1919 Preakness Stakes by four lengths, becoming the first horse to travel from Louisville to Baltimore and win the Kentucky Derby and Preakness Stakes.

Gallant Fox (1930)

Gallant Fox won 11 of his 17 starts, including the three Triple Crown races. He won the 1930 Preakness Stakes by defeating Crack Brigade by 3/4 of a length. He followed up that impressive run by winning the Kentucky Derby just eight days later.

Omaha (1935)

Omaha won the 1935 Preakness Stakes as the odds-on favorite, winning by six lengths at Pimlico. Omaha was the only Triple Crown winner sired by another Triple Crown winner (Gallant Fox).

War Admiral (1937)

War Admiral was victorious in 21 of his 26 races, and unplaced just once in his career. War Admiral was the fastest horse on a sloppy track at Pimlico in 1937, winning the Preakness by half a length.

Whirlaway (1941)

Whirlaway won the Kentucky Derby, Preakness Stakes, Belmont Stakes and Travers Stakes in 1941, and is the only horse in history to win those four races. He was named Horse of the Year in 1941-42 and was elected to the Racing Hall of Fame in 1959.

Count Fleet (1943)

Count Fleet won the 1943 Preakness Stakes with ease, beating the competition by eight lengths as the 3-20 favorite in a small four-horse field. Count Fleet was trained by Don Cameron and ridden by jockey Johnny Longden.

Assault (1946)

Assault went on to become the seventh Triple Crown winner and won the Preakness by holding off Lord Boswell by a neck to win with a 2:01 2/5 run time. To this day, Assault remains the only Texas-bred winner of the Triple Crown.

Citation (1948)

Citation was dominant en route to the Triple Crown in 1948. Citation, who was the first horse with $1 million in career earnings, won 16 consecutive stakes races, including the Preakness Stakes. He led wire-to-wire at Pimlico Race Course as the 1-10 favorite.

Secretariat (1973)

Secretariat posted the fastest winning time in Preakness history in 1973 at 1:53.00. He set speed records in all three Triple Crown races, cementing himself as one of the greatest thoroughbreds in the history of horse racing.

Seattle Slew (1977)

Seattle Slew became the 10th Triple Crown winner and won the Preakness by one and one-half lengths over runner-up Iron Constitution. Seattle Slew went on to sire 111 stakes winners, including 1984 Kentucky Derby and Belmont Stakes winner Swale.

Affirmed (1978)

Affirmed beat his rival Alydar in all three of the Triple Crown races, including the 1978 Preakness Stakes. Ridden by 18-year-old jockey Steve Cauthen, Affirmed won the Preakness by a head over runner-up Alydar. Affirmed was inducted into the Racing Hall of Fame in 1980.

American Pharoah (2015)

American Pharoah, trained by Bob Baffert, won the 2015 Preakness Stakes by seven lengths, which is tied for the sixth-largest margin of victory in the history of the Preakness. American Pharoah cemented himself as one of the greatest race horses by becoming the first horse in history to win all three American classics and the Breeders' Cup Classic.

Justify (2018)

Justify is the last horse to successfully win the Triple Crown. He held off Good Magic and Bravazo on a sloppy, slippery track at the 143rd Preakness Stakes.