What To Bet On Preakness
Still, the Preakness is shaping up as a great betting race, with a field of 11 stocked with a lot of talent expected to go postward. Preakness 2020: Post positions, morning line odds, info. Kentucky Derby winner Authentic firmed as the favorite in the final hour before Saturday's Preakness Stakes with Art Collector shortening as the second choice of bettors. BET the Preakness & Get a $200 Bonus from NYRABets! Horse Racing Nation will continue to update the Preakness odds as they change throughout the day.
The Preakness Stakes is a Grade I event for 3-year-olds conducted at Pimlico Race Course inBaltimore. 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. Due to the coronavirus, this year’s Preakness will be held on Saturday, Oct.3. Although the purse has yet to be announced, the 2019 race was $1.5 million.
It is typically 9.5 furlongs (1 3/16 miles) over a track that is nicknamed “Old Hilltop” and is the shortest and second oldest of the three Triple Crownraces, as it was first established in 1873, predating the Kentucky Derby by two years. Colts and geldings must carry 126 pounds while fillies receive a five-pound allowance (121).
This guide will walk you through how to bet on the Preakness Stakes legally, types of bets available and odds on 2020 Preakness Stakes.
Best Preakness Stakes betting sites
How to bet on the 2021 Preakness Stakes
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 nearly100,000people. 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.
- Betting apps: TVG is the most popular and convenient form of wagering for a majority of bettors. You can wager online on the Preakness Stakes via the TVG website or using the TVG iOS app from the App Store. At this time, there is no app forAndroid, but the website is enhanced for mobile betting. A full menu of straight and exotic bets is available for bettors. You can also use handicapping tools directly from the website for all races. Due to TVG’s huge presence in the horse racing industry, you can view many races streaming live from the website.
- Betting witha teller: When you are at the track, you can place your bet at the windows with a teller. In this situation efficiencyis key, as wagering on races closes at a specific time before a race goes off, and tellers must enter the bets prior to this deadline. Once you have made your choices, you may want to write them down, especially if you are placing exotic wagers or a number of them. There are specific things the teller must be told in order to bet. These are the racetrack you are betting on, the race number, the numbers of the horse or horses you are wagering on, the type of bet or bets you are making and the amount of each wager.
- Betting off track: There are many facilities where you can place wagers without an app or without attending live racing. You can even go to another track that does not have live racing and is only simulcasting races from other tracks. If this is the case, you simply follow the same guidelines as betting with a teller, as the windows will be open to accept wagers even if there is no live racing. You can also wager on touch-screen machines using vouchers or cash. You simply follow the instructions. Many tracks or off-track betting facilities have tables with televisions to witness the races, as well as touch screens to place bets on.
Odds on the 2021 Preakness Stakes
The 2020 odds and post positions will be available after the Sept. 30 post position draw.
| Post Position | Horse | Jockey | Opening Odds | Morning Line Odds |
|---|---|---|---|---|
| 1 | Excession | Sheldon Russell | 30-1 | TBD |
| 2 | Mr. Big News | Gabriel Saez | 12-1 | TBD |
| 3 | Art Collector | Brian Hernandez Jr. | 5-2 | TBD |
| 4 | Swiss Skydiver | Robby Albarado | 6-1 | TBD |
| 5 | Thousand Words | Florent Geroux | 6-1 | TBD |
| 6 | Jesus' Team | Jevian Toleldo | 30-1 | TBD |
| 7 | Ny Traffic | Horacio Karamanos | 15-1 | TBD |
| 8 | Max Player | Paco Lopez | 15-1 | TBD |
| 9 | Authentic | John Velazquez | 9-5 | TBD |
| 10 | Pneumatic | Joe Bravo | 20-1 | TBD |
| 11 | Liveyourbeastlife | Trevor McCarthy | 30-1 | TBD |
How payouts work on Preakness odds
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 postpositions, 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 last year’s Preakness Stakes, which was captured by War of Will, is as follows:
| Position | Post | Horse | Jockey | Trainer | Odds |
|---|---|---|---|---|---|
| 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 |
Win, place, show payoff schedule
| Horse | Win | Place | Show |
|---|---|---|---|
| War of Will | $14.20 | $7.40 | $5.40 |
| Everfast | — | $32.00 | $14.40 |
| Owendale | — | — | $6.00 |
Exacta, trifecta, superfecta winnings
| Wager Type | Winning Numbers | Payout |
|---|---|---|
| $2 Exacta | 1/10 | $947.00 |
| $1 Trifecta | 1/10/5 | $4,699.80 |
| $1 Superfecta | 1/10/5/3 | $51,924.00 |
Prize money: How much Preakness horses win
1st — War of Will, $900,000
2nd — Everfast, $300,000
3rd — Owendale, $165,000
4th — Warrior’s Charge, $90,000
5th — Laughing Fox, $45,000
Types of bets
A single or straight bet allows beginners to easily familiarize themselves with the wagering process and consists of the win, place and showbets. 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:
Win
All you need to do to place this wager is bet on a horse to win therace. 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. Winodds, 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.
Place
When you bet on a horse to place, it must come in first orsecond. 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.
Show
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.
Exotic wagers
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 anexacta, 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 showparlay. 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.
Who is favored to the win the 2021 Preakness Stakes?
Due to COVID-19, the 2020 Preakness Stakes is in a unique position. In most years the horses that finished in the top three of the Kentucky Derby are the favorites. But this year the Belmont was run first and the Derby is not until Sept. 5. This means many horses that may not have been mature enough in early spring as sophomores will run in the Preakness.
The following are the most recently updated odds and predictions for this year’s Preakness Stakes:
- Tiz the Law 2-1
- Honor A.P. 3-1
- Authentic 8-1
- Cezanne 12-1
- King Guillermo 15-1
- Sole Volante 15-1
- Uncle Chuck 15-1
- Art Collector 20-1
- Modernist 20-1
- Dr. Post 30-1
These are considered to be the top 10 horses; however, bear in mind the Preakness Stakes can load up to 14 horses in the gate.
Historic wins in the Preakness Stakes
This will be the 145th 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:
- In 2018, Justify eked out a victory over Good Magic after a contentious battle throughout the entire race to set himself up to capture the Triple Crown only four years after American Pharoah accomplished the same feat.
- I’ll Have Another (2012) defeated the extremely talented Bodemeister yet again while the other horse was favored. He chased his rival down less than a furlong from the wire and won by a nose.
- In 2005, favorite Afleet Alex was outdueled to the line by 50-1 shot Giacomo in the Kentucky Derby. In the Preakness, however, the colt asserted his dominance even after nearly going down in the first turn after colliding with ScrappyT. He rebounded and captured this contest in hand by five lengths before winning the Belmont Stakes.
- In 1997, Kentucky Derby victor Silver Charm defeated champions Captain Bodgit and Free House to hit the line in front by a nose. He lost the Belmont Stakes to the late running Touch Gold to end his Triple Crown bid.
- Easy Goer and Kentucky Derby winner Sunday Silence had one of the most historic rivalries in all of horse racing. In 1989 the two champions were eyeball to eyeball at the top of the stretch and remained that way to the finish. Easy Goer only lost because he moved his head at the wire. He later defeated Sunday Silence easily in the Belmont Stakes.
- One of the most contentious results in Preakness Stakes history came in 1980 when Codex and his pilot, AngelCordero, bumped Kentucky Derby winner Genuine Risk on the far turn. Despite extensive analysis after the final results flashed on the toteboard, Codex remained the winner.
- Affirmed and Alydar are probably the most recognized horse racing rivalry in the last four decades. Affirmed, a Triple Crown winner in 1978, fended off Alydar at Pimlico and would go on to capture the Belmont Stakes. The two horses competed against one another on 10 occasions as freshmen and sophomores, with Affirmed visiting the winner’s circle in seven of those trips to the post. It is also worth noting that Alydar was the sire of Easy Goer, who engaged in his own rivalry with Sunday Silence.
- According to racing buffs, the first turn over this course is notoriously tight to navigate, and it is unwise to make an early move to the lead. But Secretariat and his rider, RonTurcotte, decided to buck tradition. Secretariat broke poorly but rushed from last to first in the first 300 yards of the 1973 contest. He bested Sham and still has the fastest time on record after a teletimer mistake that day was rectified years later.
The five fastest 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:
- Secretariat (1973) 1:53
- Curlin (2007) 1:53.40
- Louis Quatorze (1996) 1:53.40
- Tank’s Prospect (1985) 1:53.40
- Summer Squall (1990) 1:53.60
Preakness Stakes and the Triple Crown
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 differentdistance. 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 WoodlawnVase, 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.
History of the Preakness Stakes infield
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.
Secretariat, the Triple Crown winner
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 LucienLaurin, 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.
What Horse To Bet On Preakness
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.
This year’s Preakness will be held in October. This is not the first time in the sport’s history the Preakness has 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 BelmontStakes. 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.
Preakness Stakes traditions
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 AlibiBreakfast, 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.
The Preakness Stakes has been a major part of the racing schedule in America pretty much since it first came into existence. It was first held in 1873 as a way to pit top three-year-old horses against each other. And for the most part, it has continued uninterrupted since then, becoming one of the great traditional horse races in the United States.
What gave it even more importance was when it was first included as part of the three most important three-year-old horse races in the country. Once this “Triple Crown” gained more popularity, the Preakness Stakes became a must-win for horses (and their handlers) who wanted to achieve horse racing accolades.
On this page, we’ll be going over the race’s history, a few of the big contenders, how to place horse racing bets, as well as go over the types of bets you’ll be able to make at the best 2020 Preakness Stakes betting sites. As you can see, this will give you plenty of insight into making winning wagers on the 2020 Preakness Stakes. Keep reading below to learn more.
A Brief History on the Preakness Stakes
For most of its history, the Preakness Stakes has served as the second leg of the Triple Crown, in between the Kentucky Derby ahead of it and the Belmont Stakes. The order was shuffled this year, of course, and it is now the anchor race in the series.
The Triple Crown caught the attention of racing fans because of how difficult it is for a horse to win all three races in the same year. In most years, the three races take place in a span of five weeks. In addition to that, they are all contested at different distances, meaning that any horse able to win all three races would have to be extremely versatile.
What To Bet On Preakness Stakes
In the case of the Preakness Stakes, it takes place at a distance of 1 3/16 miles. Generally, that is the shortest distance out of the three Triple Crown races. 1 3/16 miles is a somewhat unusual distance for Thoroughbreds, requiring a bit more getaway speed than the typical distance race.
The Preakness Stakes is a major cultural event in the state of Maryland. It is a race associated with the Black-Eyed Susan, which is the type of flower presented as a kind of trophy to the winning horse. Pimlico Race Course, which hosts the event, also has a rich tradition in the area.
Obviously, some of the traditions that people associated with the Preakness Stakes might be upended this year. But the delay in the race, from May to October, shouldn’t slow down the betting rush. Expect millions to be bet on the 2020 Preakness Stakes.
2020 Preakness Stakes Contenders
The horse to watch at the 2020 Preakness Stakes is undoubtedly Authentic. This is because of the dominant performance that he delivered in the Kentucky Derby a few weeks ago. In that race, the colt overcame an outside post and led most of the way as he gained a convincing victory.
In addition, Authentic was able to dispose of the challenge of Tiz The Law. That horse, trained by Barclay Tagg, was looking like a prohibitive favorite not just to win the Derby, but to go on to the Preakness as well. If he had managed that, it would have been a Triple Crown achievement, since Tiz The Law had already captured the Belmont Stakes in June.
But Authentic never got the memo and interrupted the coronation. And now, he goes into the 2020 Preakness Stakes as a likely favorite. It doesn’t hurt that he is trained by Bob Baffert, who has broken just about every major trainer record for stakes races.
Authentic won’t get the chance for a rematch with Tiz The Law. That horse’s handlers have decided to skip the Preakness Stakes and look ahead to future races (like perhaps the Breeders’ Cup). That means Authentic should be a heavy favorite.
The odd thing is that we’ll never know what might have been in terms of Authentic’s Triple Crown aspirations. Remember that Baffert kept him out of the Belmont Stakes back in June, believing that the race didn’t quite fit well with the horse’s training schedule. Instead, Authentic will have to settle for trying to win two out of three.
But he won’t be alone in this quest. Expect other horses who have competed in the Triple Crown to line up against Authentic in the 2020 Preakness Stakes. And expect some newcomers, who have perhaps been less tested throughout the year and might be fresher, to enter the field as well.
Here is a look at a few of the possible contenders for this year’s race, a week ahead of the official announcement of the field and the official field with their post positions.
- Art Collector: Winner of five consecutive races, Art Collector seemed like one of the top Derby contenders but was held out at the last minute due to a foot injury. Luckily, the injury seems to be healing in time to have him trained for the Preakness. If he can shake off the rust, it could be interesting to see how he handles a matchup with Authentic.
- King Guillermo: Much like Art Collector, he was a hot sleeper pick heading into the Derby, only to be scratched right before the race because of injury. Unlike Art Collector, King Guillermo’s injury might not be healed in time for the Preakness. If he does run, he has already proven to be game when not given much of a chance to win.
- Dr Post: The good news is that he has had good experience facing graded stakes horses this year. But the bad news is that this horse hasn’t seen the winner’s circle since April. Dr Post has to prove that he can step up against classier competition and be more than just best of the rest.
- Big News: Nobody gave him much of a chance when he entered the Kentucky Derby. Yet there he was, coming from nowhere for a surprising third-place finish. If he can build on that, he could present an interesting challenge for Authentic.
- Finnick The Fierce: This horse might get some name recognition points as one of those who was scratched from the Kentucky Derby in the hours leading up to the race. The concern is that he hasn’t won at anything higher than an allowance level. On top of that, he might have to deal with Art Collector, who handled him (and the rest of the fields) in their last two stakes races together.
- Thousand Words: This is an interesting situation in that this colt would be a second Bob Baffert entry and could steal the thunder from his more celebrated stablemate. Thousand Words seemed poised for a big day at the Derby before being scratched. He was outstanding in beating highly-touted Honor A.P. in a stakes in California in his last race.
- Mystic Guide: This colt could be peaking at the right time. In his last start, he knocked off Dr Post in the Grade 2 Jim Dandy Stakes at Saratoga. Now, he could be in line to face his first ever Triple Crown competition while he’s at the absolute top of his game.
- Pneumatic: He hasn’t raced since winning the Pegasus Stakes at Monmouth in August. Pneumatic does have the benefit of Triple Crown experience, having finished fourth in the Belmont behind Tiz The Law in June. A return to the center stage could be in the offing for him.
- Happy Saver: It’s not unusual for a local horse to take his chances in the Preakness Stakes. This year’s local boy could be Happy Saver. He won the Federico Tesio Stakes at Laurel Park, another Maryland track, earlier this month. The question is whether that’s enough of a springboard for him heading into this tough challenge.
How to Bet on the Preakness Stakes
Betting on horse races can be a bit confusing for those who have done it before. But it’s really a simple system once you get the hang of it. Once you do understand, you’ll be able to make wagers on the 2020 Preakness Stakes and just about any horse race that you can imagine.
The key to understanding horse racing betting has to do with figuring out pari-mutuel wagering. Pari-mutuel is just a fancy name that essentially lets you know that your odds are not set, even after you’ve made the wager. This is in opposition to fixed odds wagering, which is in play for most other sports bets.
For example, if you were betting on a team to win a certain game in football or basketball, you might be given odds for the team in question. You might also get a point spread added to the equation.
But in either case, these conditions would not change for your bet, no matter what happens from the time that you bet to the time that the game begins. If you bet on a football team that is a seven-point underdog, those odds will stay in place for you even if the team they’re playing against gets 10 players hurt in the run-up to the game. The odds will change for everybody else who hasn’t bet yet, but your odds are fixed.
In horse racing, the odds aren’t final until the race begins. And those odds are determined by the different pools for each horse and each wager.
For Example:You might bet at a horse at 4 to 1 to win. This means that, conceivably, you would make $4 back for every dollar that you bet. But if the horse receives a lot of betting attention leading up to the race, those odds could easily drop to 3 to 1, 2 to 1, or lower. The odds that you would be paid if the horse wins would be based on the final odds, not the odds that were quoted when you originally wagered on it.
You might find gambling websites that allow you to make fixed odds bets on the 2020 Preakness Stakes. Because it is such a popular race, websites might look to accommodate all kinds of action.
But you have to be careful with fixed odds betting on a race like the Preakness Stakes. Because of the possibility of a horse scratching right before race time (something that happened with several horses in the 2020 Kentucky Derby), you might end up placing an early wager on a horse that doesn’t even run. It’s doubtful that a site will offer you anything in return if that happens.
If you find a site offering pari-mutuel wagering instead, you can avoid this. A scratched horse will allow you to have your bets refunded to you in most cases.
Placing Your Bets
It’s a good idea to have an idea of how to place a wager on a specific horse (or horses) in the 2020 Preakness Stakes at a reputable gambling website. Once you get to the site, you don’t want to become confused by the different terminology, especially if you’re running low on time.
Here are the key pieces of information you have to have when placing a bet on a race like the Preakness Stakes:
- Track: You have to remember that many tracks will be hosting races. In the case of the Preakness Stakes, you have to make sure that you identify Pimlico Race Course as the track in question. Since it is such a popular race, you might find that gambling websites dedicate a page to it that eliminates the need for identifying the track.
- Race Number: There will be many races in a particular program at a track like Pimlico Race Course, even on Preakness Stakes day. That’s why you need to make sure to identify which race on the program it is that you went to bet. Again, if you find a page dedicated to the race, you won’t have to worry about this.
- Amount of Bet: In the sport of horse racing, the traditional bet size is $2. You can raise it from there if you wish, but that is often the minimum. Different 2020 Preakness Stakes betting sites might tinker with this formula somewhat, but you still have to identify the amount you want to bet.
- Type of Bet: We’ll elaborate a bit on the different types of bets and what whey entail in a bit. Just keep in mind that you have to settle on the type of bet (or bets) you want to place once you settle into the site to make your selection.
- Horse (or Horses) Involved: In most cases, you will need to identify the number of the horse that you want. You can find this in the program for the Preakness Stakes, which will easily be located online. But you might also find that websites include the names on the page for a race as big as the Preakness Stakes.
Types of Bets on the 2020 Preakness Stakes
Each horse racing wager brings you different levels of potential risk and reward. Once you know how each of these bets work, you can start to hone in on how you want to wager on the race. This overview will tell you all you need to know.
For the most part, horse racing bets can be broken down into two types: straight or exotic bets. Straight bets generally involved picking a single horse in a single race. Exotic bets require multiple horses to be involved in some way.
Straight bets are generally better if you want to improve your chance of getting something in return. It is easier to predict the performance of one horse than many. But your potential payback is generally capped when you bet in this manner.
On the other hand, exotic bets are harder to hit in any given race. The chances of multiple horses coming in the order you need them to finish diminish from what you could get with a straight bet. Because this is the case, exotic bets often pay back much higher than straight bets.
Here are the main types of straight bets:
- Win: Your horse must win the race for you to win your bet
- Place: Your horse must finish first or second for you to win your bet
- Show: Your horse must finish first, second or third for you to win your bet
And here are the main types of exotic bets:
- Exacta: Bet on the first two horses in the order of finish in a single race
- Trifecta or Triple: Bet on the first three horses in the order of finish in a single race
- Superfecta: Bet on the first four horses in the order of finish in a single race
- Daily Double: Pick the winner of two consecutive races on the card
- Pick 3 and so on: Pick the winners of three races in a row or however many are listed in the name of the bet
How to Pick the Winner of the 2020 Preakness Stakes
Picking winning horses in horse racing is not an easy thing to do. You’ll find veterans of horse racing wagering who claim to have a system to help them out. Others will go off of their intuition.
If you’re a newcomer to betting on horse racing, you can start your handicapping (which is another name for deciding which horses to pick) in a number of ways. You can watch lots of races and get a feel for the horses involved. That takes a lot of time and dedication, especially because you need to keep at it for a while to collect the information you need.
But you could also go about it by simply looking at a horse racing program. Programs, or “racing forms” as they are sometimes called, give you all the necessary statistical information on every horse in every race at a particular track. Since the 2020 Preakness Stakes will be garnering a lot of betting attention, it’s a good possibility that you can find the program page for it online.
What should you be looking for when you look at a program? Here are some of the things which can help you identify the top horses in each race:
- Past performances: These will be the lifeblood of every program page. You’ll be able to see the most recent races for each of the horses in the race and how they performed. In other words, you can see where they finished in the race (1st, 2nd, 3rd, etc.).
- Class: It can sometimes be better to focus on the class of horses that a horse has been facing rather than on the order of finish. A horse who has been finishing last against great horses might be better equipped to win a race than a horse who has been performing well against much weaker horses. Focus on the purse amounts for their most recent races.
- Distance: This is an underrated factor in terms of handicapping races. Sometimes, a horse just seems to fit a certain distance better. In terms of the 2020 Preakness Stakes, you should be focusing on distances similar to 1 3/16 miles, which is the distance they’ll be running at Pimlico.
- Post Position: Post position refers to where the horses line up in the gate each race. Occasionally, you can spot a handicapping advantage in a particular horse who has been dealing with tough, outside post positions for several races in a row. When they move to the inside, they can be primed for a big performance.
- Connections: By connections, we mean the owners, trainers, and jockeys involved with the horses. There’s a reason why you see familiar names like Bob Baffert (trainer) or Mike Smith (jockey) year in and year out in the Triple Crown conversation. By the same token, it can often be difficult for an inexperienced jockey or trainer to break through in a race as big as the Preakness Stakes.
- Pedigree: This one can be a bit more difficult, in that it requires some working knowledge of the history of horse racing. The bottom line is that, if a horse comes from a bloodline of great performers, there is a good chance that pedigree will rub off on them. If you don’t know the names of top thoroughbreds from the past, you can often find information in race programs concerning the most successful sires to help you along.
Now that you’re familiar with the history and how to bet on the 2020 Preakness Stakes, feel free to browse our other guides on horse racing betting.
Or if you’re into other sports, check out our site’s latest pages! You’re sure to find something you’ll be interested in. Lastly, good luck with your horse racing bets!
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