2025 Preakness Stakes Betting: Latest Odds, How To Bet, Event History

The winner of the 2024 Preakness Stakes was Seize the Grey at odds of 9-1. Mystik Dan (2-1) finished in second, followed by Catching Freedom (7-2) in third. Next year’s edition will take place on May 17. Down below, we’ll get you up to speed on Preakness Stakes odds, including various betting options and how to place wagers in states where horse betting is legal.  

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Top horse betting apps for the Preakness Stakes

FanDuel Racing

FanDuel Racing is one of a number of options in the US for betting on horse races. The platform is available on the web and mobile, and it’s simple to sign up and create an account. Doing so will give you live access to streaming from tracks around the globe to boot. There’s also FanDuel TV to catch racing action and programming. When it’s time for betting on the Preakness Stakes, FanDuel Racing is a solid choice.

Depending on where you are located, you might have the option for the standalone racebook app that FanDuel offers. That option is available in California, Delaware, Florida, Idaho, Minnesota, Montana, New Hampshire, New Mexico, North Dakota, Oregon, Rhode Island, South Dakota, and Washington.

If you are located in Colorado, Illinois, Indiana, Kentucky, Louisiana, Massachusetts, Maryland, Michigan, New York, Ohio, Pennsylvania, Virginia, West Virginia, or Wyoming, the horse betting options are fully integrated into the FanDuel Sportsbook app.

Learn more about promotions for horse betting.

Where to bet on the Preakness Stakes

Multiple options are available for placing a bet on the Preakness Stakes. First, you could head to Pimlico Race Course and watch the race. As many as 100,000 people attend the event on an annual basis. If you’re one of the lucky ones, head to a teller and place your bet. Second, depending on your state, you may be able to bet at an off-track betting location. If you live in a state where OTBs are legal, you may be able to find one near you with a simple internet search. 

Several racetracks in the US offer simulcast wagering for the Preakness Stakes. If you’re near such a track, you can head over and watch the action with fellow race fans. And perhaps the most popular way to bet is online. Regulated horse betting sites are legal in many states and offer a safe and secure route to betting.

How to bet on the Preakness Stakes

There are several ways to bet on the Preakness Stakes. You can keep it simple and choose which horse you think will win, try to land all of the top finishers and more. Let’s take a look at the top options, beginning with the three standard horse racing bets: 

• Win bet: Wager on a horse to finish first in the race.
• Place bet: Wager on a horse to finish in first or second.
• Show bet: Wager on a horse to finish first, second or third.

Beyond the standard wagers, there are also options to bet on the finishing position of multiple horses. Bets of this nature offer the potential for solid returns, but there’s also more risk, as you have to get all of your picks correct to win.

• Exacta: Bet on the top two finishers in the race in the correct order.
• Trifecta: Wager on the first three finishers in order.
• Superfecta: Pick the top four finishers in order.

The above wagers are often referred to as exotics. There are different ways to approach each of them.

• Straight: Your selections have to finish in the exact order that you choose for your bet to win.
• Box: If you box all of your selections, your choices can finish in any order.
• Wheel: The wheel lets you choose one or more horses for each finishing position.

The actual cost of the bet will vary based on the type of wager that you choose. If you’re betting online at FanDuel Racing, you’ll be able to see the amount of the wager prior to placing it, and you can edit your selections in advance of placement as necessary. Here’s a look at the payouts for the 2024 Preakness Stakes.

While the Preakness Stakes is the star attraction of the day, it’s not the only race on the card. There will be a full day of racing action at Pimlico, and it all will be available for wagering. Beyond all of the above bets, you can also tie together multiple races on the card with bets such as a Pick 3, Pick 4, Pick 5 or Pick 6. The goal is to pick the winner of each race, and the cost is generally low if you make just a single pick per race. Just like the exotics, there’s the chance for great returns, but also plenty of risk due to the difficulty level.

Preakness Stakes betting strategy

It can be challenging to look ahead at the Preakness Stakes as we won’t know the complete makeup of the field until after the running of the Kentucky Derby. The winner of the Derby will have a spot and will typically be the favorite. Derby winners will almost always pursue the Triple Crown and run in the Preakness. However, there are exceptions, such as when Rich Strike, the long-shot winner of the 2022 Derby, passed on the race.   

This doesn’t mean that the Kentucky Derby should take over all of your betting strategies for the Preakness Stakes. Some of the field will have run in the Derby, but others won’t. Also, some might have had more than two weeks off compared with the Derby runners. As always, past performance is no guarantee of what’s to come in the future, but it can be a useful tool when trying to project what might happen. 

Past winners of the Preakness Stakes

The first Preakness Stakes race took place in 1873, two years before the first Kentucky Derby but six years later than the inaugural Belmont Stakes. The winner of that race was the appropriately named Survivor, ridden by George Barbee and trained by A. Davis Pryor. Of all of the winners of the Preakness Stakes, 13 also won both the Kentucky Derby and the Belmont Stakes, and therefore completed the Triple Crown:  

• Sir Barton (1919)
• Gallant Fox (1930)
• Omaha (1935)
• War Admiral (1937)
• Whirlaway (1941)
• Count Fleet (1943)
• Assault (1946)
• Citation (1948)
• Secretariat (1973)
• Seattle Slew (1977)
• Affirmed (1978)
• American Pharaoh (2015)
• Justify (2018)

A total of 36 horses have won the Preakness Stakes after winning the Kentucky Derby, but 23 of those horses failed to convert the final win. California Chrome, in 2014, is the last horse to win both the Kentucky Derby and the Preakness Stakes before failing to win the Triple Crown. Swiss Skydiver became the sixth filly to win the Preakness in 2020. The first filly to do so was Flocarline in 1903, while the last prior to 2020 was Rachel Alexandra in 2009. 

List of all Preakness winners

Qualification for the Preakness Stakes

The Preakness Stakes has a maximum field of 14 horses. Entry into this race requires the owners to nominate their horses for competing in all the Triple Crown races by the closing date in late January. The cost of initial entry into the race is $15,000, and owners will have to pay a further $15,000 if their horse makes the starting gate. If an owner decides to enter a horse that hasn’t been nominated for the Triple Crown series, the owner can do so by paying a supplemental nomination fee of $150,000. If there are more than 14 horses entered, the following criteria apply:

• The first seven spots go to the top prize earners in graded-stakes races (this will include the winner of the Kentucky Derby).
• Four spots go to the top lifetime earners in nonrestricted races.
• The final three spots go to horses according to lifetime prize money, irrespective of whether they are open or restricted races.
• Any horse that finished in the top five of the Kentucky Derby will receive an entry should the connections choose to accept it.

History of the Preakness Stakes

On Oct. 25, 1870, Pimlico Race Course opened. That day, the winner of the Dinner Party Stakes was Preakness, from the Preakness Stud, in Preakness, New Jersey. The Preakness Stakes took its name in honor of this initial winner, whose name reportedly came from the Native American name for the area — “Pra-qua-les,” meaning Quail Woods.

The first running of the Preakness Stakes was May 27, 1873, when a field of seven horses lined up at the start. Survivor won this initial race by an impressive 10 lengths, thereby claiming the winning purse of $2,050. Early editions of this race were more than 1.5 miles, before the distance shifted to 1.25 miles in 1889.

The distances underwent multiple alterations in the next 36 years, with today’s distance of 1 3/16 miles finally being settled on for the 1925 running and all races since. In 1890, the Preakness Stakes moved to Morris Park Race Course in the Bronx. This race had handicap conditions, and it lifted the 3-year-old age restriction. Handicap editions of the race also took place from 1910-14.

There was no race between 1891 and 1893, before it returned at Gravesend Race Track at Coney Island between 1894 and 1908. The Preakness Stakes then returned to its rightful home, Pimlico, in 1909.

Several traditions have built up around the race. Before the start, the Baltimore Colts’ marching band traditionally lead a rendition of “Maryland, My Maryland,” a duty that now falls to the US Naval Academy Glee Club. After the race has a winner, a painter climbs a ladder to add the winning number and colors to a horse and jockey statue atop a weather vane on the infield. The Preakness Stakes has also been called the “Run for the Black-Eyed Susans” due to the blanket of yellow flowers resembling Maryland’s state flower that goes across the withers of the winning horse.

Classic moments in the Preakness Stakes

1973

Secretariat wins the race in record time. He was facing rival Sham, and the tight first turn at Pimlico is considered no place to make a move. Secretariat, however, changed the script, charging from last to first in the space of 300 yards and eventually winning the race by three lengths.

1980

In one of the most controversial finishes in the history of the race, Codex ends up winning in 1980. Around the final turn, though, Codex bumped the Kentucky Derby winner Genuine Risk to the outside. After much discussion, the Maryland Jockey Club decreed that Codex should still be the winner of the race.

2005

Afleet Alex was clearly the leading horse in 2005 but lost in the Kentucky Derby to 50/1 outsider Giacomo. Heading to the Preakness Stakes, it was time to make amends. However, heading around the turn, both horse and jockey stumbled and nearly exited the race. Fortunately, the horse remained on its feet and flew down the finishing straight, winning by five lengths. Afleet Alex also went on to win the Belmont Stakes and complete two-thirds of the Triple Crown.

2018

Justify headed into the Preakness Stakes as a hot favorite, having already landed the Kentucky Derby. However, he didn’t have it all his way at a foggy Pimlico. Having led early on, Justify got into a real tussle with rival Good Magic throughout the race before hanging on down the final stretch to outpace the chasing pack.

More racing events

Preakness Stakes FAQ

When is the Preakness Stakes?

The Preakness Stakes traditionally takes place on the third Saturday of May. The next one will be on May 17. The Preakness Stakes traditionally runs exactly two weeks after the Kentucky Derby and either two or three weeks before the Belmont Stakes.

How many horses run in the race?

Unlike the Kentucky Derby, which has settled on a set number of 20, the number of horses in the Preakness Stakes can vary. There is an upper limit of 14 (for safety reasons), but there can be fewer than that. For example, in 2018, just eight horses headed to the starting gate, while it was 10 in 2017. 

How much does the winner of the Preakness Stakes receive?

For 2024, the purse size was $2 million, with $1.2 million going to first place. The remainder of the pool goes to the next four finishers.

When is post time at the Preakness Stakes?

Post time for the 2025 Preakness Stakes will come out as we get closer to race day. The most recent Preakness Stakes went off at 6:57 p.m. ET.

How much are Preakness Stakes tickets?

If you want to experience the race-day experience at the track, here are the tiers of tickets:

• Premium: These range between $200 and $720 and include premium dining and the best vantage points on the track.
• Grandstand: These range between $135 and $385; all are near the finish line of the race.
• Clubhouse: Tickets range between $75 and $220 and offer outdoor seating, HD TV and access to InfieldFest, the all-day music festival.
• Concourse: These range between $120 and $160 and offer views of the homestretch of the race.
• Facility admission: For $40, you can experience being part of the atmosphere with TV monitors to watch the races, and food and beverage concessions.
• InfieldFest pass: Prices range between $79 and $199 for this all-day music festival, which takes place in and around the Preakness Stakes.

Who was the fastest horse to win the Preakness Stakes?

The fastest winner in the history of the race was Secretariat in 1973 with a time of 1:53. Several horses have ducked below the 1:54 mark since, with the latest to do so being Curlin in 2007. The fastest filly to win the race was Rachel Alexandra in 2009, with a time of 1:55.08.

Which jockeys/trainers have the most Preakness wins?

Eddie Arcaro is the most successful jockey in the history of the race, with six victories. His first win came in 1941, and his final victory was in 1957. For trainers, R. Wyndham Walden and Bob Baffert are tied for the lead with seven wins each.