Preakness Stakes Odds 2024 – Reviewing the best sportsbooks

The Preakness Stakes odds tell us who bookmakers believe can win one of the jewels of the US-horse racing calendar, forming the second leg of the Triple Crown. There are some time-old traditions of this Maryland race held at Pimlico Race Course in Baltimore every May. Leading betting sites will have the latest Preakness odds, so you can see who the favorites are.

But how are the Preakness 2024 odds shaping up? We will give you the full lowdown on this 1 and 1/16-mile race and show you where to find the best Preakness odds and predictions. Join us ahead of one of the highlights of the racing calendar.

Preakness Stakes Winner Odds 2023

So, let’s get straight into it then and assess how things are shaping for the runners and riders for this year’s edition of the race. Our table below contains all the current Preakness odds. 

Preakness Stakes Horses BetUS Bovada Sportsbetting.ag BetOnline MyBookie
Mage +175 +175 +185 +185 +137
First Mission +225 +200 +240 +240 +225
Two Phil’s N/A +400 N/A N/A +400
National Treasure +800 +650 +1000 +1000 +1000
Derma Sotogake N/A N/A N/A N/A +800
Tapit Trice N/A N/A N/A N/A +800
Disarm +850 +1000 +750 +750 +800
Blazing Sevens +1100 +1000 +1200 +1200 +1400
Confidence Game +1100 +1000 +1200 +1200 +1600
Red Route One +1400 +1200 +1600 +1600 +2000
Perform +1500 N/A +1600 +1600 +1000
Henry Q N/A +1600 N/A N/A N/A
Instant Coffee N/A +2500 N/A N/A N/A
Chase The Chaos +3500 +2500 +5000 +5000 +6600
Il Miracolo N/A +5000 N/A N/A +6600
 All prices correct as of 11:00 EDT on Thursday, May 11 2023.

Top Horse Racing Sites for the Preakness Stakes

If you want to check out the best operators for Preakness odds, then the following 10 offshore betting sites will serve you well.

  • BetOnline – Best overall site for Preakness 2023 horse odds
  • Bovada – Provides plenty of odds for the Preakness 2023, including futures
  • BetUS – Strong source of Preakness live odds and has live stream
  • XBet – Top site for current Preakness odds 2023 and betting with cryptocurrencies
  • MyBookie – Offers competitive odds on the Preakness today
  • Sportsbetting.ag – Has a $25 risk-free Facebook bet
  • GT Bets – Cash rebates available for horse racing bettors
  • Everygame – Quick payouts for those betting on the Preakness Stakes
  • Betanysports – Reduced juice sportsbook with horse racing section
  • BUSR – Cashback offers for those wagering on the Preakness Stakes

Best Sites Reviewed for Preakness Odds

1. BetOnline – Best overall site for Preakness 2023 horse odds

betonline racing offers

BetOnline is one of the best horse racing betting sites and it is ideal for anyone wishing to wager on the Preakness Stakes. This site is sharp and quick off the mark to release futures betting on the race – you can expect them to be published immediately after the Kentucky Derby each year. The fixed odds that it offers on the event are also some of the best on the market.

On the day of the race, you can choose from a broad selection of Preakness Stakes betting options, including straights and exacta.

Alongside this, you can tap into some great offers, including a great horse racing rebate offer where you could get up to 9% back. The number of markets covered is considerable, so you won’t be stuck for choice.

There is a strong welcome bonus available with BetOnline for new players. This is a 50% matched deposit offer, available up to $1000 and comes with 10x wagering requirements. Enter the BetOnline promo code BOL1000 when you sign up to claim the offer.

Pros:

  • Has a deep range of Preakness Stakes markets
  • Superb mobile betting platform
  • Well-designed and user-friendly
  • Generous welcome bonus for new players

Cons:

  • No live stream available

2. Bovada – Provides plenty of odds for the Preakness 2023, including futures

Bovada Preakness odds futures

Bovada is one of the biggest names in the world of sports betting and it also has an impressive racebook. So, if you are after Preakness horses and odds, then Bovada will have it with many different betting types.

Also, Bovada is widely regarded as one of the best sports betting apps as it is available for iOS and Android devices and you will find plenty of pre-race and in-play betting opportunities for the Preakness field and odds, so you can wager on whether there will be a photo finish or a stewards inquiry.

Although there is no risk-free bet or cash rebate for new players, the Bovada welcome bonus is still worthwhile. You can claim a 50% matched deposit bonus worth up to $1000 with the Bovada bonus code BVD1000. 

This offer has a 5x wagering requirement attached to it, which is great to see because this is lower than what many other racebooks offer, meaning the bonus is easier to clear.

Pros:

  • Players can stream horse racing action in HD
  • Superb mobile betting app
  • Promos and bonuses are very competitive
  • Competitive odds

Cons:

  • Players depositing with traditional payment options won’t receive as big a bonus as cryptocurrency users

3. BetUS – Strong source of Preakness live odds and has live stream

BetUS Preakness promotion

BetUS have a specific audience in mind with their racebook. They are one of the most trusted, but also one of the best legal sportsbooks in the business. Locating pre-race Preakness 2023 odds, as well as Preakness odds and post positions, can easily be found in a few clicks.

Everything is user-friendly and there are some neat features at BetUS, such as last-minute bets. If you are the type of bettor that is happy to dash for a quick Preakness Stakes selection, BetUS will be perfect for you.

BetUS is the perfect platform for novice and seasoned horse racing bettors alike and you will also find a reliable live streaming service that will broadcast all the biggest races, including the Preakness Stakes.

New players can claim the BetUS welcome bonus using the BetUS promo code JOIN125 , With horse racing, you get a 100% matched deposit up to $2500 with a 10x wagering requirement.

Pros:

  • Has a great selection of live bets
  • Great for last-minute Preakness wagers
  • Trustworthy and recognizable site
  • App serves iOS and Android users

Cons:

  • Existing players won’t be able to reclaim a reload bonus

4. XBet – Top site for current Preakness odds 2023 and betting with cryptocurrencies

XBet promo codes Preakness racing

If there is one thing that XBet should be applauded for, then it is the quality of their racebook. The Preakness Vegas odds are competitive, but fair and the site does justice for the Preakness Stakes by displaying a wide variety of lines to keep bettors happy.

While XBet has its finger on the pulse when it comes to in-play betting for domestic races, the site knows how to cater for players with its wide range of cryptocurrencies. It is one of the best crypto betting sites as players can deposit with Bitcoin, Bitcoin Cash, and more.

Also, you will receive a confirmation email from the XBet team to inform you of a deposit made, so you can spend more time scouring the Preakness Stakes markets for good value wagers.

New players can claim the XBet welcome bonus, which is a 100% matched deposit offer that is available up to $500. This offer has a 7x wagering requirement attached, but you will need to enter the XBet promo code XB100 at the cashier.

Pros:

  • Great site for depositing with cryptocurrencies
  • Provides competitive odds
  • Good range of ongoing promotions
  • Has plenty of Preakness Stakes specials 

Cons:

  • Welcome bonus is smaller compared to other sites

5. MyBookie – Offers competitive odds on the Preakness today

MyBookie welcome bonus Preakness racing

MyBookie passes the test as a robust and reliable sportsbook, and its racebook is also worth talking about too.

When it comes to horse racing, you can expect to find offers and promotions on the site that you can use. The rebate at MyBookie is 8% on horse racing. It offers the same welcome bonus, but with a 10x rollover, as opposed to 7x at XBet.

The site design is rather minimalistic, but if you want to gain access to the latest insight, the MyBookie blog won’t let you down, so you can be armed with all the information you need.

New players can claim the MyBookie welcome offer by using the MyBookie promo code INSIDERS – this is a 100% matched deposit offer that is available up to $1000. 

The offer comes with a 10x wagering requirement attached to it, which is a little bigger than expected, but no promo code is needed, and there are no minimum odds to hit.

Pros:

  • Great site for the latest Preakness Stakes news and tips
  • Has a user-friendly mobile app
  • Live betting available
  • Strong welcome bonus offer

Cons:

  • Could have more Preakness Stakes markets available

A Guide to Preakness Stakes Odds

It is not hard to see why the Preakness Stakes holds a special place in the hearts of American bettors. With multiple ways to bet on the race, you can absorb yourself in the action. 

The top horse racing betting sites, including the sharpest sportsbooks, will offer you everything you need to get started, from how to bet on the Preakness Stakes, to odds available for the race and they will even advertise some great bonuses that are aimed specifically at this blue-riband event.

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Preakness Stakes Odds and How they Work

The Preakness Stakes odds will determine how much you stand to make if you are lucky enough to pick a winner. The odds will change in the run-up to the race, so betting at the right time is how you can land the value. Preakness odds will usually be presented in three ways, but the most common types are American odds and decimal odds.

American Odds 

With American odds, there will usually be a + sign in front of the horse, so this will indicate the profit you will make from a bet if your chosen horse wins.

For example, odds of +500 show you will win $500 profit from a $100 bet, so your total returns would be $600 including stake. 

On occasions, the favorite in a race will be so strong that you will need to wager more money than you would receive back as profit – when this happens, the odds have a – at the front of them. 

Example – Odds of -150 show that you will need to put a bet of $150 on to win a profit of $100, so your bet costs $150 and the total returns, including stake, are $250. 

Decimal odds

With decimal odds, it’s probably easier to convert them to implied probabilities than American odds. Decimal odds will represent the amount a bettor will win for every $1 wagered.

So, for example, if you bet $10 on National Treasure with Preakness Stakes odds of +1000, this would be 11.00 as a decimal, and you would stand to win $100 and get total returns $110, which would include your original stake.

Reading and Understanding Preakness Odds

Preakness odds will provide bettors with a clear view of how things are shaping up ahead of a race. Of course, certain factors will dictate the reasoning behind the allocation of odds, such as form and trainer pedigree.

However, the odds at the top sportsbooks will show you the likelihood of you winning when backing a horse as well as what your potential returns will be. Those with long odds, such as Chase The Chaos, could provide a big payoff if you side with him.

Latest Horse Racing News & Tips

Signing up for a Site Offering Preakness Odds

Signing up to a sports betting site offering Preakness odds should be quite straightforward and you could be up and running in just a few minutes. We will show you how it is done, using our top-rated sportsbook BetOnline as an example:

Step 1 – Create an Account

Firstly, you will need to head over to the BetOnline horse racing betting site and click join, then fill in your details, such as name, address and email.

BetOnline sign up step one

Step 2 – Verify Your Email

Now, you will need to verify your details to avoid issues down the line. You will be sent a verification link from the BetOnline team.

Step 3 – Deposit Funds into Your Account

After completing the verification step, make your way over to the banking section and choose a method to deposit funds into your account. Make sure you are eligible for the BetOnline welcome bonus too.

BetOnline banking step 3 Preakness

Step 4 – Start betting

Once everything is in order, you can start betting. Head over to the lobby and check out the odds served by BetOnline.

Preakness odds and line BetOnline step 4

Preakness Odds – Types of Available Markets

Horse racing betting markets are very traditional, and while there hasn’t been an influx of new lines over the years, there are still a few to get your head around. This can be split into two different types – standard and exotic wagers. We will show you the markets that fall under each and explain a little more about how they work.

Win Bet

This is the simplest Preakness Stakes betting option. You just have to predict which horse will win the race.

The Preakness Stakes betting sites will release fixed odds early on the main contenders ahead of the race. That means you will know exactly how much you stand to win by betting on any of the runners. The odds also tell you each horse’s implied probability of success.

On race day, you can take part in parimutuel betting on the Preakness Stakes. All the money wagered on the win goes into a pool. The industry will then take a cut as commission, and the remainder is divided among bettors that picked the winning horse. You will see a dividend payout, which tells you the return to expect for every $1 wagered on the runner.

Example: You could bet on First Mission to win the Preakness Stakes @ +240.

Place Bet

This is a bet on a horse to finish either first or second in the Preakness Stakes. It does not matter whether your chosen horse finishes first or second. He or she just needs to finish in the top two. 

You will receive a smaller payout if you bet on the place as opposed to the win, but it gives you a stronger chance of success.

The payout on a place bet is calculated on a pari-mutuel basis after the race is over. You will only know your exact payout after the race, but you can use the Morning Line odds to predict what sort of dividend each runner might yield.

Example: You could stake on Mage to place in the Preakness Stakes.

Show Bet

This bet, meanwhile, requires you to wager on a horse finishing in the top three. Remember, the order doesn’t matter too much, as they can place first, second or third.

Example: You could wager on Disarm to show in the Preakness Stakes.

Exotic Wagers

Exotic wagers are notoriously much more difficult, but they offer the potential to provide huge payouts if you can place a successful bet. These are the main types for those interested in wagering on the Preakness Stakes.

Exacta Bet

This is a bet on the winner of the Preakness Stakes and the runner-up. You have to specify the exact order in which they will cross the line, hence the name.

Your winnings will be calculated via a pari-mutuel pool. It is divided among bettors with winning tickets, so your payout will naturally be larger if you successfully combine two relatively unpopular horses for a winning Preakness Stakes exacta.

Example: You could wager on First Mission to win the Preakness Stakes and Mage to finish second in a $5 Exacta.

Quinella Bet

A quinella allows you to name two horses, and they can finish first and second in any order. A quinella is similar to a two-horse exacta box, but it comes from a different pari-mutuel betting pool, so the payout is different.

Example: First Mission and Mage in a $4 Preakness Stakes Quinella.

Trifecta Bet

A trifecta is where things start to get more interesting, as you have to predict the first three horses to finish a race in the exact order.

You can box three or more runners together and create  trifectas within that group to make it easier for yourself. That is known as a trifecta box.

Example: You could bet $1 on a First Mission, Mage and Disarm as a Preakness Stakes betting Trifecta.

Superfecta Bet

A Superfecta is predicting the top four finishers in the race, and you will need to specify the precise order. This is also a very tricky market, so payouts can often be huge.

Example: You can bet on First Mission, Mage, Disarm and National Treasure in a $2 Preakness Stakes Superfecta.

Super Hi-Five Bet

If you want to test yourself, go for a Super Hi-Five, which involves naming the first five horses to cross the line in order.

Example: You can wager $5 on First Mission, Mage, Disarm, National Treasure and Red Route One in a Super Hi-Five.

Preakness Odds – Expert Picks

All eyes will be fixed on the Preakness Stakes and it is one of the most eagerly-anticipated meetings in the calendar. BetOnline was quick out of the gate to release Preakness Stakes odds, so here’s the expert Preakness Stakes picks and how we think the race may unfold.

Winner – First Mission

Skipping the Kentucky Derby could prove a smart move from owner-breeders Godolphin and trainer Brad Cox, as First Mission arrives in Baltimore a fresher horse than those who ran at Churchill Downs a couple of weeks ago.

Runner-Up – Mage

Although favorite in the Preakness Stakes odds today, Mage has just 14 days between his last run and turning out at Pimlico. If he turns up in the same mood as he showed when winning the Kentucky Derby, then he’ll take all the beating but he hasn’t had long to get over Churchill Downs.

Third – Disarm

Behind the two market leaders on his last couple of starts, Disarm was beaten by about the same margin by both. That makes him what handicappers call a good form marker. If building on those efforts for Steve Asmussen, then Disarm can again make the show as he didn’t get a clear run when fourth in the Kentucky Derby.

Preakness Odds – Past Winners

With the Preakness 2023 odds taking shape, it’s time to take a look back at the past champions of this illustrious race. Our table will reveal more.

 

Year Winning Horse Jockey  Trainer Betting Odds
2022 Early Voting Jose Ortiz Chad Brown +570
2021 Rombauer Flavien Prat Michael McCarthy +1100
2020 Swiss Skydiver Robby Albarado Kenneth McPeek +600
2019 War of Will Tyler Gaffalione Mark Casse +700
2018 Justify Mike Smith Bob Baffert -200
2017 Cloud Computing Javier Castellano Chad C Brown +1300
2016 Exaggerator Kent J. Desormeaux J. Keith Desormeaux +450
2015 American Pharoah Victor Espinoza Bob Baffert -125
2014 California Chrome Victor Espinoza Art Sherman -160
2013 Oxbow Gary L. Stevens D. Wayne Lukas +1500
2012 I’ll Have Another Mario Gutierrez Doug F. O’Neill +250

Relevant Pages for Preakness Odds

If you want to find out more about betting on the Preakness Stakes, then our additional resources from our experts should be handy:

Conclusion

The Preakness Stakes odds feature big-name thoroughbreds, so this event is undoubtedly one of the biggest events in the US horse racing calendar, so you won’t be stuck on sites to bet at. Whether you want to try out straight bets or exotic wagers, the sites we have discussed in this guide will facilitate this.

However, if you want to use a dependable sportsbook, then we suggest BetOnline which has a powerful mobile betting platform. Sign up for BetOnline today and you can claim a 50% matched deposit bonus worth up to $1,000.

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