The Preakness Stakes is a Grade I event for 3-year-olds conducted at Pimlico Race Course in Baltimore. 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. This year’s Preakness will be held on Saturday, May 15th.
This guide will walk you through how to bet on the Preakness Stakes legally, types of bets available and how to bet on thes 2021 Preakness Stakes.
The 2021 odds and post positions are below.
|Post Position||Horse||Morning Line Odds||Jockey|
|3||Medina Spirit||9/5||John Velazquez|
|4||Crowded Trade||10/1||Javier Castellano|
|5||Midnight Bourbon||5/1||Irad Ortiz Jr.|
|7||France Go de Ina||20/1||Joel Rosario|
|8||Unbridled Honor||15/1||Luis Saez|
|9||Risk Taking||15/1||Jose Ortiz|
|10||Concert Tour||5/2||Mike Smith|
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 nearly 100,000 people. 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.
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 post positions, 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 the 2019 Preakness Stakes, which was captured by War of Will, is as follows:
|1||1||War of Will||Tyler Gaffalione||Mark Casse||6/1|
|2||10||Everfast||Joel Rosario||Dale Romans||29/1|
|3||5||Owendale||Florent Geroux||Brad Cox||8/1|
|4||3||Warrior’s Charge||Javier Castellano||Brad Cox||13/1|
|5||11||Laughing Fox||Ricardo Santana Jr.||Steve Asmussen||22/1|
|6||4||Improbable||Mike Smith||Bob Baffert||5/2|
|7||13||Win Win Win||Julian Pimentel||Michael Trombetta||14/1|
|8||2||Bourbon War||Irad Ortiz. Jr||Mark Hennig||6/1|
|9||8||Signalman||Brian Hernandez||Ken McPeek||21/1|
|10||12||Anothertwistafate||Jose Ortiz||Blaine Wright||15/1|
|11||7||Alwaysmining||Daniel Centeno||Kelly Rubley||7/1|
|12||6||Market King||Jon Court||D. Wayne Lukas||32/1|
|DNF||9||Bodexpress||John Velazquez||Gustavo Delgado||20/1|
|War of Will||$14.20||$7.40||$5.40|
|Wager Type||Winning Numbers||Payout|
A single or straight bet allows beginners to easily familiarize themselves with the wagering process and consists of the win, place and show bets. 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:
All you need to do to place this wager is bet on a horse to win the race. 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. Win odds, 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.
When you bet on a horse to place, it must come in first or second. 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.
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.
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 an exacta, 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 show parlay. 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.
This will be the 146th 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:
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:
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 different distance. 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 Woodlawn Vase, 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.
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.
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 Lucien Laurin, 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.
The 2020 Preakness was held in October. This was not the first time in the sport’s history the Preakness had 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 Belmont Stakes. 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.
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 Alibi Breakfast, 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.