How To Bet On The Preakness

May 09, 2019 Daily Double: You pick the winner of this race and the winner of another race - typically the race right before or right after this one. At the Preakness you can also bet a double that includes the.

When it’s time to bet on the Preakness Stakes, you’ll need to be able to place to wager. While wagering at an OTB or simulcast facility can be a fun experience, that’s not always the most convenient option. Betting online or via your mobile device takes care of that issue. TVG is the top choice for horse race betting in Colorado. Odds, lines and how to bet on the 2020 Preakness Stakes On the calendar, the Preakness Stakes is nestled between the Kentucky Derby and the Belmont Stakes horse races. As such, it forms part of America’s famous Triple Crown series, and is second only to the Kentucky Derby in terms of attendance and fame. An across the board wager is a bet on a horse to win, place and show at the Preakness Stakes. If the horse wins, the bettor collects three ways (win, place and show). If the horse comes in second, the bettor collects two ways (place and show).

The Preakness Stakes is a Grade I event for 3-year-olds conducted at Pimlico Race Course inBaltimore. The race is referred to as the “Run for the Black-Eyed Susans” because the winner receives a blanket of these flowers, which are Maryland’s state flower. Normally the Preakness is contested on the third Saturday in May, two weeks after the Kentucky Derby and three weeks prior to the Belmont Stakes, making it the second jewel in the Triple Crown. Due to the coronavirus, this year’s Preakness will be held on Saturday, Oct.3. Although the purse has yet to be announced, the 2019 race was $1.5 million.

It is typically 9.5 furlongs (1 3/16 miles) over a track that is nicknamed “Old Hilltop” and is the shortest and second oldest of the three Triple Crownraces, as it was first established in 1873, predating the Kentucky Derby by two years. Colts and geldings must carry 126 pounds while fillies receive a five-pound allowance (121).

This guide will walk you through how to bet on the Preakness Stakes legally, types of bets available and odds on 2020 Preakness Stakes.

Best Preakness Stakes betting sites

How to bet on the 2021 Preakness Stakes

Wagering on the Preakness Stakes follows the same course as other Triple Crown events. The race can gather quite a crowd, as the stadium at Pimlico can fit nearly100,000people. Betting on the Preakness, however, is not relegated to merely the individuals at the track, and with the rise of technology there are several alternatives to placing your horse racing bets at the windows.

• Betting apps: TVG is the most popular and convenient form of wagering for a majority of bettors. You can wager online on the Preakness Stakes via the TVG website or using the TVG iOS app from the App Store. At this time, there is no app forAndroid, but the website is enhanced for mobile betting. A full menu of straight and exotic bets is available for bettors. You can also use handicapping tools directly from the website for all races. Due to TVG’s huge presence in the horse racing industry, you can view many races streaming live from the website.
• Betting witha teller: When you are at the track, you can place your bet at the windows with a teller. In this situation efficiencyis key, as wagering on races closes at a specific time before a race goes off, and tellers must enter the bets prior to this deadline. Once you have made your choices, you may want to write them down, especially if you are placing exotic wagers or a number of them. There are specific things the teller must be told in order to bet. These are the racetrack you are betting on, the race number, the numbers of the horse or horses you are wagering on, the type of bet or bets you are making and the amount of each wager.
• Betting off track: There are many facilities where you can place wagers without an app or without attending live racing. You can even go to another track that does not have live racing and is only simulcasting races from other tracks. If this is the case, you simply follow the same guidelines as betting with a teller, as the windows will be open to accept wagers even if there is no live racing. You can also wager on touch-screen machines using vouchers or cash. You simply follow the instructions. Many tracks or off-track betting facilities have tables with televisions to witness the races, as well as touch screens to place bets on.

Odds on the 2021 Preakness Stakes

The 2020 odds and post positions will be available after the Sept. 30 post position draw.

How payouts work on Preakness odds

The Preakness has a smaller field than the Kentucky Derby but a larger one than the Belmont and has the second highest attendance level of any thoroughbred race in North America. Post time for the race typically is between 6:20 and 6:40 p.m. Last year’s edition of the Preakness Stakes went off at 6:37 p.m. Preakness Stakes betting odds become available when post positions are drawn, which is not always on the same day every year. For some years that has been on a Tuesday morning or afternoon, and for others it has been as early as Monday or as late as Wednesday. Immediately after the horses are assigned their postpositions, what is referred to as a morning line is introduced. These are the odds that are selected by the track’s handicapper, who performs this task not only for the Preakness Stakes but for every race at the facility.

An example of odds and payouts from last year’s Preakness Stakes, which was captured by War of Will, is as follows:

Win, place, show payoff schedule

Exacta, trifecta, superfecta winnings

Prize money: How much Preakness horses win

1st — War of Will, $900,000
2nd — Everfast, $300,000
3rd — Owendale, $165,000
4th — Warrior’s Charge, $90,000
5th — Laughing Fox, $45,000

Types of bets

A single or straight bet allows beginners to easily familiarize themselves with the wagering process and consists of the win, place and showbets. For decades all three forms of betting had a $2 minimum, but over the course of the last 10 years these wagers have become available for $1. Details on these wagers are below:

Win

All you need to do to place this wager is bet on a horse to win therace. The facility will deduct a portion from the total wagers in order to cover costs. Traditionally this is 15-20% depending on the facility and that state’s racing regulations. The winning bettors split what remains. The pool for this bet is also separate from the place and show pools. Winodds, unlike those for place and show wagers, are easily accessible to the bettor by checking out the toteboard or graphics on your screen if using a smartphone or computer.

Say a horse wins at odds of 29-1; the payoff to the bettor would be $60 to $61.80 due to breakage. This is a system tracks utilize to calculate payoff amounts so they can be rounded to the nearest, lowest 20-cent payoff (it is 10 cents in New York) instead of paying in specified amounts.

Odds for a win bet are based on how many people wager on each horse. It’s difficult to determine how tough this wager is for the bettor, but it is tougher than place or show wagers. For example, if you wagered on the favorite in every race on a card, you could expect to cash in on one of every three events. The average decreases if you place win bets on horses that have higher odds; the payoffs, however, would be much greater.

Place

When you bet on a horse to place, it must come in first orsecond. This makes it easier to cash in on than a win bet, but the payoff amounts are generally smaller because the pool is being split into two rather than just one. The bettors who win then divide the pool for the payoff, minus the facility’s take.

Odds and payoffs are not easily accessible to bettors because they are based on which horses run first or second. Despite systems to break down approximate payoffs by breaking down the sum bet on each horse in the pool, beginners should stick with enjoying themselves rather than becoming bogged down in math. That should be left up to the tracks to determine.

Show

From the three types of straight wagers, this bet is the easiest for a bettor to collect on as a horse must come in first, second or third. The pool for this wager is split three ways, and the dividends are often the lowest. If you wager on all favorites, your return on investment may even be less than $1 for every $2 wagered. Like place wagers, odds and payoff amounts are not easy for the public to access, but can be deduced through math calculations.

Exotic wagers

These are different from straight wagers and can be quite challenging for beginners to collect on unless they have some luck. The simplest exotic bets are anexacta, where a bettor must pick the first and second place horses in a race; a quinella, where a bettor must select the first two finishers in one race in either order; and a double, where a bettor picks the winning horse in two consecutive races on a card.

One of the best ways to pick an exacta or double would be to wheel several horses in different formats for the smallest price, which is generally $1. For instance, a $1 exacta wheel of horses 4 and 5 in first place over the 1, 2 and 3 horses would cost $6. Also, a $1 double wheel of horses 4 and 5 with horses 6 and 7 would be $4.

Another way for beginners to learn exotic wagering skills is a showparlay. If four people decide to wager together and place $10 apiece on a show parlay, they would then select a horse to place this money on. They would continue to re-wager the payoffs until they begin to lose or decide they have had enough.

There is a bit of luck involved with wagering in this fashion, but it’s an easy way to introduce people to betting without emptying their pockets. It can also make the wager more intriguing and can enhance entertainment value.

Who is favored to the win the 2021 Preakness Stakes?

Due to COVID-19, the 2020 Preakness Stakes is in a unique position. In most years the horses that finished in the top three of the Kentucky Derby are the favorites. But this year the Belmont was run first and the Derby is not until Sept. 5. This means many horses that may not have been mature enough in early spring as sophomores will run in the Preakness.

The following are the most recently updated odds and predictions for this year’s Preakness Stakes:

1. Tiz the Law 2-1
2. Honor A.P. 3-1
3. Authentic 8-1
4. Cezanne 12-1
5. King Guillermo 15-1
6. Sole Volante 15-1
7. Uncle Chuck 15-1
8. Art Collector 20-1
9. Modernist 20-1
10. Dr. Post 30-1

These are considered to be the top 10 horses; however, bear in mind the Preakness Stakes can load up to 14 horses in the gate.

Historic wins in the Preakness Stakes

This will be the 145th edition of the Preakness Stakes, and while it has a long and rich tradition, there are naturally certain years that are more noteworthy than others.

What follows is a list of some of the more historic Preakness Stakes:

• In 2018, Justify eked out a victory over Good Magic after a contentious battle throughout the entire race to set himself up to capture the Triple Crown only four years after American Pharoah accomplished the same feat.
• I’ll Have Another (2012) defeated the extremely talented Bodemeister yet again while the other horse was favored. He chased his rival down less than a furlong from the wire and won by a nose.
• In 2005, favorite Afleet Alex was outdueled to the line by 50-1 shot Giacomo in the Kentucky Derby. In the Preakness, however, the colt asserted his dominance even after nearly going down in the first turn after colliding with ScrappyT. He rebounded and captured this contest in hand by five lengths before winning the Belmont Stakes.
• In 1997, Kentucky Derby victor Silver Charm defeated champions Captain Bodgit and Free House to hit the line in front by a nose. He lost the Belmont Stakes to the late running Touch Gold to end his Triple Crown bid.
• Easy Goer and Kentucky Derby winner Sunday Silence had one of the most historic rivalries in all of horse racing. In 1989 the two champions were eyeball to eyeball at the top of the stretch and remained that way to the finish. Easy Goer only lost because he moved his head at the wire. He later defeated Sunday Silence easily in the Belmont Stakes.
• One of the most contentious results in Preakness Stakes history came in 1980 when Codex and his pilot, AngelCordero, bumped Kentucky Derby winner Genuine Risk on the far turn. Despite extensive analysis after the final results flashed on the toteboard, Codex remained the winner.
• Affirmed and Alydar are probably the most recognized horse racing rivalry in the last four decades. Affirmed, a Triple Crown winner in 1978, fended off Alydar at Pimlico and would go on to capture the Belmont Stakes. The two horses competed against one another on 10 occasions as freshmen and sophomores, with Affirmed visiting the winner’s circle in seven of those trips to the post. It is also worth noting that Alydar was the sire of Easy Goer, who engaged in his own rivalry with Sunday Silence.
• According to racing buffs, the first turn over this course is notoriously tight to navigate, and it is unwise to make an early move to the lead. But Secretariat and his rider, RonTurcotte, decided to buck tradition. Secretariat broke poorly but rushed from last to first in the first 300 yards of the 1973 contest. He bested Sham and still has the fastest time on record after a teletimer mistake that day was rectified years later.

The five fastest Preakness Stakes

Pimlico is known for its tight turns and usually glib surface. The shortest of the Triple Crown events, the Preakness, generally produces the swiftest times of the three races.

Here are the five fastest Preakness Stakes of all time:

1. Secretariat (1973) 1:53
2. Curlin (2007) 1:53.40
3. Louis Quatorze (1996) 1:53.40
4. Tank’s Prospect (1985) 1:53.40
5. Summer Squall (1990) 1:53.60

Preakness Stakes and the Triple Crown

Each leg of the Triple Crown has its own history and place within the sport. Each race also has its own traditions, and each race is contested at a differentdistance. The Preakness Stakes stands alone because it nearly always attracts the Kentucky Derby winner and new horses that were unable to make the Derby field. It also offers the WoodlawnVase, which is one of the most prized trophies in the sport and historically in the US. To put it in perspective, 52 horses have won two Triple Crown contests. Twenty-three horses have won the Kentucky Derby and Preakness Stakes, 18 have won the Preakness Stakes and Belmont Stakes and 11 horses have won the Kentucky Derby and Belmont Stakes.

History of the Preakness Stakes infield

Although the Kentucky Derby infield has received more press over the years, the Preakness Stakes has its own raucous version that has been popular for decades. There are concerts, Preakness parties and a number of contests as well as other institutions that are very popular with the local population. People also travel from miles around to take part in the Preakness Stakes’ infield festivities.

Secretariat, the Triple Crown winner

He was lovingly referred to as “Big Red” due to his gleaming chestnut coat and large size. Secretariat was born in March 1970 and went on to win five Eclipse Awards, horse racing’s highest honor, during his two-year career.

Sired by champion Bold Ruler and out of the mare Somethingroyal, Secretariat was named Horse of the Year as a 2- and 3-year-old and is the only horse to achieve this honor. Trained by Hall of Fame member LucienLaurin, Secretariat won five stakes as a 2-year-old and was so impressive, he was syndicated for his stud career early in his sophomore season for then a record $6.08 million.

Not only did Secretariat win the Triple Crown, he set records in all three races that still stand. He is one of only two horses to win the Kentucky Derby in under 2:00, with the other being Monarchos in 2001. His Belmont Stakes victory is considered by many to be the greatest race of all-time, and he is considered to be the greatest horse of all-time. He is the second-highest ranked thoroughbred in the history of the sport behind only Man o’ War.

Secretariat also won major stakes on turf to prove his versatility. He was retired to Claiborne Farm after his 3-year-old campaign and died there in 1989 from laminitis at 19. While he never reached the lofty achievements in the breeding shed that he did on the racetrack, Secretariat is considered to be an outstanding broodmare sire and is in many pedigrees of champion racehorses. It is thought he was such an excellent broodmare sire because he had the largest heart of any American racehorse and that genetic trait was passed on to many of his fillies rather than his colts.

This year’s Preakness will be held in October. This is not the first time in the sport’s history the Preakness has not been held on its normal date. In 1890, the Preakness was run at Morris Park in the Bronx on the same card as the BelmontStakes. Following a three-year hiatus, the Preakness returned in 1894 and for 15 years was held at Gravesend Race Track on Coney Island before coming home to Pimlico in 1909.

The Preakness was held before the Kentucky Derby on 11 occasions, and both events were held on the same day in 1917 and 1922. In 1931, however, the current order of the Triple Crown races was established with the timing of the events implemented in 1969.

Preakness Stakes traditions

Like its colleagues, the Preakness, which was named by Maryland Gov. Oden Bowie after a colt who won on Pimlico’s opening day, is steeped in tradition. One of the most anticipated events by horsemen is the AlibiBreakfast, which started in the 1930s at the Pimlico Clubhouse. The attendees are media members, owners, trainers, jockeys, horsemen and fans. It’s a chance to make entertaining race predictions and for trainers to provide excuses as to why their horse has no shot at winning.

The Preakness also has another tradition, which is placing the colors of its winner on the infield cupola’s weathervane. The blanket of black-eyed Susans is also handmade. One bit of trivia about the blanket, however: black-eyed Susans are not in season when the race is conducted, so mums are used to simulate the real thing.

Known as the second jewel of the Triple Crown, it is naturally one of the biggest events on the horse racing calendar. The Preakness Stakes attracts tons of attention, even from those who don’t follow horse racing much.

More than 5 million viewers watched the live broadcast of last year’s edition on NBC. Over 130,000 people attended the race live and in person at the host track Pimlico Race Course in Baltimore, Maryland. It set a record for betting handle on that day at nearly $100 million.

Horse racing fans circle the date of the Preakness on their calendar every year, as it is one of the highlights of the season. It’s an exciting race that attracts the best the sport has to offer.

As the betting handle and viewership numbers indicate, it’s not only the die-hards who get involved. The Preakness is one of the few races that attract nationwide attention, which makes it an ideal race for those looking to get started with betting on horse races.

It’s a fun pastime that’s easy to get started with, and it can be potentially lucrative to boot. We’re going to take a look at everything you need to know to get started right here, beginning with an important tidbit for Colorado residents.

Bet on the Preakness Stakes in Colorado

2020 Preakness Stakes Odds & Post Positions

Is it legal to bet on the Preakness Stakes in Colorado?

Yes, it’s completely legal to bet on horse racing in Colorado, and it has been that way for the state’s residents for several decades. The industry is overseen by the Colorado Racing Commission, which maintains a clear-cut set of rules and regulations on the main state website.

Colorado is home to one operating racetrack, as well as several off-track betting (OTB) venues. Folks can visit those locations and place bets on tracks across the nation. However, that’s not the only option.

It’s also completely legal and safe to bet via mobile apps in Colorado. Naturally, you’ll need to be playing on a reputable and regulated operator. We’ll provide our top recommendation.

If you’ve been on the fence about horse race betting in Colorado, the legality issue isn’t a roadblock. Officials sorted it out a long time ago, and there aren’t any signs of it changing in the future.

How to bet on horse racing

When it’s time to bet on the Preakness Stakes, you’ll need to be able to place to wager. While wagering at an OTB or simulcast facility can be a fun experience, that’s not always the most convenient option.

Betting online or via your mobile device takes care of that issue. TVG is the top choice for horse race betting in Colorado. Even better, TVG is a lot more than just a site for betting. It’s a live network that provides extensive coverage of horse racing.

Action from tracks across the nation is broadcast live on TVG, which is available on leading cable and streaming providers. You can also download the TVG app right to your smart TV to watch whenever you wish.

TVG offers an excellent platform that’s easy to use and provides all of the available bet types. To create an account, just click on our exclusive links.

You’ll get a first deposit bonus of 50% up to $250 just for doing so. The promo code LSRTVG should be there automatically. Then enter a few basic pieces of info, such as your name and email address, and then click “Complete Registration.”

Your new account will be created instantaneously. After taking some time to look around the site, follow the instructions on the home page to download the Apple app for iOS. Log in on your mobile device, and you’ll be able to bet whenever and wherever.

There isn’t a TVG app for Android at present, but the website is fully optimized to work on mobile devices. Visit the site from your mobile web browser and log in once your account is all set, and you’ll be good to go.

Horse racing bet types

Beyond just picking the winner, there are several bet types for horse racing. Here’s a run-through of the main wagering opportunities you’ll come across:

• Win: This is a wager on which horse will win the race.
• Place: A place bet means that you like a horse to finish in second place or better.
• Show: If you place a show bet, the horse you select needs to finish third or better.
• Exacta: An exacta is a bet on the top-two finishers in the race.
• Trifecta: For this bet, you have to pick the top-three finishers.
• Superfecta: This wager is on the top-four finishers in the race.

Of these bet types, win, place and show are the most common, while the others are exotic wagers. In the first category, you can place any of those bet types on individual horses in the race.

You can also cover multiple outcomes by placing a bet on a horse to win, place or show. For the other group, you can choose the horses to finish in order. That’s pretty difficult, but you can also “box” your selections, which means that your picks can finish in any order.

Depending on the race, you may also see several other bet types, such as:

• Quinella: Pretty much the same as an exacta box bet where you’re picking the top two.
• Super High Five: The goal is to choose the top five finishing horses in the race in order.
• Pick 3: You have to pick the winner of three consecutive races.
• Pick 4: A winning ticket means that you picked four straight winners.
• Pick 5: Picking the winners of five consecutive races on the card.
• Pick 6: A bet on the winners for six straight races.

You can place each of these bet types at multiple denominations, but the minimums may be different at certain tracks. For example, some venues offer win bets for as little as $1, while the minimum may be $2 elsewhere.

How To Bet $100 On The Preakness

For the exotics, you can start with a small wager amount for straight wagers, but the cost will climb for box bets or when more selections are added to the ticket. For example, some tracks offer a straight trifecta for as little as $0.50, while a box of that wager would cost $6 at that amount.

The road to the Preakness Stakes

The Preakness Stakes is the second race of what’s known as horse racing’s Triple Crown. It’s held two weeks after the Kentucky Derby, and a number of the same horses will compete in both of them.

For the Derby, there are as many as 20 starters in the field. There’s a clear-cut qualification stage known as “the Road to the Derby.” The Preakness field typically includes 14 starters. Here’s how they are selected:

• The first seven spots are reserved for top earners in graded stakes races, including the Derby.
• The next four slots are for top-four lifetime earners in nonrestricted races.
• The final three spots are given to horses with the most lifetime earnings regardless of race.

The top-five finishers in the Derby get priority, but the above process determines the rest of the field. Barring injury, horses that fare well in the Derby will generally be in the field for the Preakness as well.

Naturally, the horse that wins the Derby will see a ton of betting action as it continues on its quest for the Triple Crown. If the same horse manages to win the Preakness as well, then interest will be absolutely through the roof for the Belmont Stakes, the third leg of the Triple Crown, which takes place in early June each year.

History of the Preakness Stakes

The Preakness Stakes debuted in 1873. Outside of three years, from 1891 through 1893, it has been run every year since then. After the Kentucky Derby, the race attracts the most attention from a national perspective each year.

It’s a 1 3/16 mile race on a dirt track at Pimlico Race Course in Baltimore, MD. As a general rule, it’s a wildly entertaining event that has offered up some incredible performances through the years.

Here are the last 10 winners of the Preakness along with their finishing times:

• 2019: War of Will, 1:54:34
• 2018: Justify, 1:55:93
• 2017: Cloud Computing, 1:55:98
• 2016: Exaggerator, 1:58:31
• 2015: American Pharoah, 1:58:46
• 2014: California Chrome, 1:54:84
• 2013: Oxbow, 1:57:54
• 2012: I’ll Have Another, 1:55:94
• 2011: Shackleford, 1:56:47
• 2010: Lookin at Lucky, 1:55:47

For last year’s Preakness, War of Will took it down by one-and-a-quarter lengths over second-place Everfast and third-place Owendale. Here’s what the morning line odds looked like for the 13 entrants, listed in order by finishing position.

• 1- War of Will, 4-1
• 2- Everfast, 50-1
• 3- Owendale, 10-1
• 4- Warrior’s Charge, 12-1
• 5- Laughing Fox, 12-1
• 6- Improbable, 5-2
• 7- Win Win Win, 15-1
• 8- Bourbon War, 12-1
• 9- Signalman, 30-1
• 10- Anothertwistafate, 6-1
• 11- Alwaysmining, 8-1
• 12- Market King, 30-1
• DNF- Bodexpress, 20-1

Preakness Stakes betting tips

Horses that proved themselves in the Derby will be among the favorites at the Preakness. You can look their way for bets and call it a day, but you can also dig a little deeper to find some under-the-radar choices.

A long shot winning the race isn’t out of the question, and horses with lower odds can also be a nice addition to your exotic wagers such as trifectas and superfectas.

Here are a couple of spots you can look to narrow down the field of horses:

• Recent Form: Horses that have run well in recent races are more likely to continue doing so. The same applies in reverse for those who have been sluggish of late. Review how the horses in the field have fared in recent races. Pay especially close attention to what place they have finished in on the biggest races on the docket.
• Money Earned: If you’re looking for a simple way to sort through the horses by overall strength and quality, this is one to check out. Just like in any other sport, the top performers make the most money. Horses that have a good track record of earnings have placed well in races, so they are, naturally, ones to watch.
• Average Speed Ratings: There are lots of stats involved with horse racing, but perhaps none is more important than overall speed rating. This is a metric that essentially places a strength rating on each horse in numeric form. The total speed rating is a good place to look, but the average speed rating for a horse’s last three races can be especially telling.

Horse racing in Colorado

How To Bet On The Preakness Stakes

There’s just one currently operating race track in the state of Colorado. The calendar of racing events typically runs from mid-May through August and features thoroughbred and Arabian horse racing. Here are the details.

• Arapahoe Park
• Mile High Racing & Entertainment
• 26000 East Quincy Avenue
• Aurora, CO 80016

How To Bet On The Preakness 2020

Arapahoe also has full simulcasting on-site, featuring racing from tracks across the US. In addition, Colorado residents have a number of completely legal OTB facilities that they can place on their bucket list.

These venues also provide full simulcasting of the races, and you can legally and safely place your wagers as well. A full list of currently operating Colorado OTB facilities can be found here on the Colorado Department of Revenue website.

How To Bet On The Preakness Horse Race

Also, don’t forget that you can bet online or via mobile with TVG at any time once you have created your account via our exclusive links.