Preakness Stakes Betting

As the second leg of the Triple Crown, Preakness Stakes betting sites are very popular. Some of the best sites for betting on the Preakness include Bovada, BetOnline, TwinSpires, and others. All of these sites offer odds for the winner of the Preakness, odds for top finishers, and other props for the event. The majority of sites with Preakness Stakes betting odds offer promotions for new users. We look at where and how to bet on the Preakness and what horse racing sites offer the best overall experiences.

Top Preakness Racebooks

Is It Legal To Bet On The Preakness Stakes?

Yes, it is legal to bet on the Preakness Stakes, as long as players are using licensed betting sites. Both locally regulated horse betting apps and offshore horse racing betting sites are available in the US in 2026. All of the sites that we recommended for betting on the Preakness Stakes on this page are fully licensed and safe for legal sports betting in the US.

What Are The 2025 Preakness Opening Odds?

Odds For The 2025 Preakness Stakes

• Journalism-115
• River Thames+600
• Sandman+650
• Clever Again+700
• Goal Oriented+750
• American Promise+1200
• Gosger+2500
• Heart Of Honor+2500
• Pay Billy+4000

Preakness Stakes Betting Types

When it comes to Preakness Stakes odds, you have many different ways to bet. The options at horse racing betting sites range from straight bets like betting on the win, place, and show to exotic bets like betting on the trifecta or pick 3. These many different betting options are staples in the horse race betting community. You will find no shortage of betting lines for one of the Triple Crown races. The more common ones people tend to wager on are the straight bets, but we give an extensive explanation of all the options afforded to you below.

Can I Bet On A Triple Crown Winner?

Betting on a horse to win the Triple Crown is typically one of the most popular wagers before the Preakness but this bet is not offered in 2025. After winning the Kentucky Derby, William Mott announced that Sovereignty will not be racing in the Preakness, taking away the opportunity to bet on the Triple Crown this year.

Straight Bets

Win – The most common type is a ‘Win’ bet where you predict which horse you believe will end up being first place.

Place – A Place bet is betting on the horse you think will finish in either second or first. If your horse comes in the top two, then your bet is paid out.

Show – This type of betting is the same idea as a “Place” bet, but here, players are wagering on the horse they think will finish anywhere between first and third place.

Across The Board – Essentially, you are making a win bet, a place, and a show bet at the same time. If the horse you wagered on at legal online racebooks gets second place, you will win your place and show bet payouts, but not your win wager. But if it gets first place, then you get all three payouts.

Exotics

Exacta – One of the exotic types of bets you can make is an ‘Exacta’. For a wager to pay out, you must accurately predict who the horses that are going to take first and second place , exactly. If your second-place horse gets first, you will still lose.

Trifecta – This betting is the same thing, but you will have to also accurately predict who will get third place as well. This is tougher than straight bets because you are betting on two or more horses on a given race.

Pick 3 – ‘Pick 3’ bets are another kind of exotic bet that you can make. You must accurately predict the winner of the next three races and they all must win or your wager will not pay out. It is very similar to parlay sports betting.

Past Winners Of The Preakness Stakes

The Preakness Stakes has produced a large number of winners within its 140+ years of races. Not all winners have been notable, but there are a few horses we would like to talk about. In 2018, Justify went on to win the Preakness Stakes. He was also the eventual winner of the Triple Crown. The last Triple Crown winner before him was American Pharoah who also won the Triple Crown back in 2015. Before him, the last Triple Crown winner was Affirmed way back in 1978. The most famous winner of the Preakness Stakes was Secretariat who not only won the Triple crown but set the track record at 1 minute 53 seconds exactly. Nearly all of the horses who won the Preakness Stakes were three years old. There was only one horse who was older and won the Preakness Stakes, and that was Montague in 1890, who was five years old.

Preakness Stakes Winners

• 2024 – Seize The Grey +1400
• 2023 – National Treasure +250
• 2022 – Early Voting +400
• 2021 – Rombauer +1100
• 2020 – Swiss Skydiver +1000
• 2019 – War of Will +600
• 2018 – Justify -200
• 2017 – Cloud Computing +1300
• 2016 – Exaggerator +300

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