How to Bet the Preakness Stakes Online

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May 19th sees the 143rd running of the Preakness Stakes at Pimlico and as always it will be one of the most exciting races run during the season. Betting will hot up at the turn of the year and reach fever pitch after we see the Kentucky Derby 1-2-3 in early May.

There will be plenty of competition though with form straight out of the Breeders’ Cup helping to shape the betting market, plus some surprise contenders who will rear their heads in March and April.

Bolt D’Oro, Good Magic, Beautiful Shot and Untamed Domain all look as though they will arrive at Pimlico with a live chance, though a lot can change between now and then.

Bet Types

Aside from marching bands and the crowd singing “Maryland, My Maryland”, betting the Preakness is the biggest tradition of all and everyone wants to be involved. The three main bet types are the ‘win’, ‘place’ and ‘show’ bets. Here’s an explanation of what they mean:

WIN
This one speaks for itself; your chosen horse must win for you to get paid.

PLACE
To win this bet, your horse needs to finish in the first 2.

SHOW
This time, your horse must be in the top 3 to win the bet.

The payouts you can receive depend not just on how much money is in the pot, but also on the degree of difficulty. Naturally then, the highest payouts are on win bets, the second highest on place bets and, given that it is the easiest to get right, the lowest payouts are on show bets.

If you want to spice things up a little when betting the Preakness however, you can try something a little different. Maybe you really like the look of two or more horses in the race but can’t choose between them, an EXACTA bet may be for you.

With the exacta you basically predict which horses will finish 1st and 2nd and, if you get it right, this can lead to a big payout. If you’re not so sure that you can predict this accurately you can also box your bet to give yourself a better chance. You will pay double the amount to do this, but it means that your chosen two horses can finish 1st or 2nd in any order.

If you think of yourself as a real pro try a TRIFECTA bet. This time you need to pick the 1st, 2nd and 3rd horses in the right order. Once again you can ‘box’ this bet and get paid out so long as your chosen horses finish in the first three, whatever the order. A SUPERFECTA will also be available concerning the first four home but is incredibly tough to get right.

Getting Your Bet On

It’s a great thrill to feel like we’re taking part in the Preakness by betting, especially walking up to the teller to collect your money when you’ve backed the winning horse. For most of us though, we can’t make it to Maryland so betting here online is the way to go and there is more information on how to do that here.

Choosing Your Bet

You don’t have to be a professional handicapper to place a bet in the Preakness. Reading a race program to find out each animal’s form, their work out times or what sort of race conditions they prefer is one way of doing it but remember to check in here for more info on each horse as we near post time.

Assuming you’re not a pro handicapper but you do want to have a chance of winning some cash, remember not to get too excited by contenders paying out huge prices. The truth is that most Preakness winners will be high up in the list.

Ready To Place Your Preakness Bets?

You can get your Preakness bets on right here at TVG; though make sure you check out the latest odds first. Our experts will have more in-depth analysis for you as we head to post time in May so check back with us regularly.

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