Preakness Stakes Betting Preview

Preakness Stakes Betting Preview

With the Kentucky Derby behind us, it’s time to turn our attention to the next leg of the American Triple Crown of Thoroughbred racing with our Preakness Stakes betting preview.


The Preakness is the most relaxed of the three races, with spectators donning more traditional patterns over the haute couture displayed at the Kentucky Derby. On the field, a unique challenge awaits contenders. At 1 3/16 miles, the Preakness is the shortest of the three major races, making it well suited for speedsters. There’s also a quick two-week turnaround for the horses coming from the Kentucky Derby—something trainers must bear in mind when deciding if a horse can handle the volume.

This year, we may be looking at wet racing conditions, as the early weather forecast for Baltimore is predicting 80% POP on Saturday. Post positions were drawn Monday, and interestingly, the top two contenders (Muth and Mystik Dan) start from neighbouring gates No. 4 and 5. Mystik Dan defied the odds at the Kentucky Derby when he beat out two other horses at the finishing line. The three Thoroughbreds (Sierra Leone, Forever Young, Mystik Dan) all finished within a nose of each other. A high-speed camera had to be verified before Mystik Dan was announced as the winner.

The Preakness is set for Saturday at Pimlico Race Course in Baltimore, Maryland. Coverage begins at 10:30 AM ET, and post time is 6:50 PM ET. NBC will provide coverage on cable, and Peacock, YouTube TV and fuboTV are the streaming channels.

With half the field of the Kentucky Derby (just 9 horses compared to 20), the Preakness starting gates have less impact on win probability. That being said, it’s still fun to check the stats on each starting gate, and the one that has generated the most wins at the Preakness is Post No. 6 with a 13.79% win rate. Congratulations to Seize the Grey (+1400) on drawing the best starting position. Middle of the pack seems to be the sweet spot for this quick sprint.

Now that each of the nine contenders is set to compete, we’re checking in with the top six on the horse racing odds in this Preakness Stakes betting preview.

Muth Even

Post No. 4

Bob Baffert’s extended suspension at Churchill Downs for 2024 doesn’t affect his standing at Pimlico where he’s free to return this year. That means the Grade 1 Arkansas Derby winner Muth, who would have been the Kentucky Derby favourite, is good to go.

Muth will be very fresh on Saturday; his last race was over six weeks ago. Baffert said the horse has been breezing well and looks ready. Having won the Grade 1 American Pharoah Stakes, the Grade 2 San Vicente Stakes and the Grade 1 Arkansas Derby, Muth is at the level he needs to be at for Triple Crown glory; his odds have loosened from -135 to EVEN.

Mystik Dan +400

Post No. 5

The Kentucky Derby winner generated good speed at Churchill Downs, clocking a Beyer speed figure of 100. By the one-mile mark, he led the pack, hugging the rail to save time. Going into the race, he was fresh off of a third-place finish at the Grade 1 Arkansas Derby, where he finished behind Muth and Just Steel.

Some tweaking was needed to develop Mystik Dan. A natural sprinter, he was pushed too quickly to run a mile, according to his trainer, and that likely contributed to his back-to-back fifth-place finishes. Since then, he has received a proper training regime and achieved two victories, most importantly the Kentucky Derby. His odds have loosened from +300 to +400.

Catching Freedom +600

Post No. 3

This Brad Cox trainee had five starts before racing at the Kentucky Derby; he had a victory at the Grade 2 Louisiana Derby just five weeks before. At the Kentucky Derby, he emerged from Post No. 4 and made it to the front third of the pack by the 1-mile mark and surged in the homestretch, where he finished behind the three-horse cluster of front runners.

Cox has won at the Belmont Stakes and the Kentucky Derby, but is still waiting for his first Preakness Stakes victory. He’s got a good shot with this impressive son of Constitution.

Tuscan Gold +650

Post No. 8

An untested contender, Tuscan Gold broke his maiden on second try in January this year at Gulfstream Park. He performed better with the two-turn maiden run, finishing a whopping 6 ¼ lengths ahead of Skip the Line. The Chad Brown-trained colt has been in one race since: the Grade 2 Louisiana Derby—not a great sample size.

In an 11-horse field, Tuscan Gold took a stalking position, keeping a wide third in the early stages and pushing for the front in the homestretch. Although he finished third, he was only 1 ¾ lengths behind the winner, Catching Freedom. Medaglia d’Oro is his sire; he was runner up at the Breeders’ Cup Classic for back-to-back years and runner up at the Belmont Stakes in 2002. With generous +650 odds—up from +450—he’s a good dark horse pick.

Imagination +650

Post No. 9

The Santa Anita Derby runner up keeps getting better with every outing. It took him three tries to break his maiden, but once he did, he racked up one victory and two second-place finishes in just three outings. His victory came at the Grade 2 San Felipe Stakes at Santa Anita in March.

The following month, Imagination competed at the Santa Anita Derby where he duelled the eventual winner Stronghold in a two-horse race. There’s still room for improvement for the colt, and the Preakness Stakes may be the perfect course for him to get his first Grade 1 win. A Bob Baffert-trained horse is always a strong pick in the horse betting world, especially with +650 odds, up from +450.

 Just Steel +1400

Post No. 11

Whereas Tuscan Gold is largely untested, Just Steel is on the opposite side of the spectrum; it’s rare for a three-year-old colt to have as many starts as this Thoroughbred. Developed by Hall of Fame trainer Wayne Lukas, who has had six colts win the Preakness, Just Steel has racked up 12 career starts, five of which are from this year.

He started with the Smarty Jones Stakes and then competed at the Grade 3 Southwest, both of which he finished second. A seventh-place finish at the Grade 2 Rebel Stakes was followed with an impressive second-place finish at the Grade 1 Arkansas Derby. Unfortunately for him, he was unable to carry the momentum to the Kentucky Derby, where his intense initial speed faded in the second half, leading him to finish 17th.

Bet at Bodog Racebook with Crypto

The best way to get in the action at Pimlico is by betting on your top picks; whether that be straight bets that involve picking a horse to win/place/finish, or exotics like trifectas and exactas. Make sure you have an account set up at Bodog before the big day; doing so will ensure the process is smooth on race day. You’ll also need to deposit funds to be able to place bets.

Although many standard deposit options are available, the best way to deposit money into your Bodog account is with cryptocurrency, like Bitcoin and Ethereum. When you use cryptocurrency, transactions are fast and fees are almost non-existent. We don’t charge anything for players to use crypto to fund their accounts.

If you want to see a visual guide on how to get started with crypto, check out our New to Crypto page. It’s full of helpful videos showing the entire process of the transition to the wonderful world of crypto.