A Comprehensive Guide to Preakness Stakes

The Preakness Stakes is famous for being one of the best flat races on the calendar, which many racing enthusiasts anticipate every year. It is a part of the Triple Crown series in horse racing and is commonly called “The Middle Jewel of the Triple Crown”.

Those interested in online horse betting for the Preakness Stakes can explore the different betting markets and learn more about betting strategies with this comprehensive guide.

What are the Preakness Stakes?

First held in 1873, the Preakness Stakes is one of the oldest horse races held in the United States. The first winner is Survivor, which was ridden by George Barbee and trained by A. Davis Pryor.

As the second leg of the Triple Crown races, the Preakness Stakes is a Grade I thoroughbred horse race with a distance of 1 3/16 miles or 9.5 furlongs. It is the shortest race in the Triple Crown, which highlights the horses’ speed and sprinting prowess and it is usually over within two minutes. This year, the 149th run of the Preakness Stakes will be held on May 18 at Pimlico Race Course in Baltimore.

Preakness Stakes has more spectators than other American horse racing events, except for the Kentucky Derby, as Pimlico can accommodate over 120,000 watchers. In 2015, the attendance record for most spectators was set, with over 131,000 people watching the race.

Qualifications for the Preakness Stakes

The Preakness Stakes field includes 14 horses on the race course, unlike the Kentucky Derby, with a set number of 20 participating runners. However, the number of participating runners can be fewer than 14.

For example, in 2018, only eight horses headed to the starting gate because of several defections of Kentucky Derby frontrunners. Meanwhile, in 2020, there were only 11 starters due to the race being rescheduled.

Participating in the Preakness Stakes involves the owners nominating their horses to compete in the Triple Crown races with a closing date  in late January. The cost of initial entry in the flat race is $15,000.

Preakness Stakes Betting Markets

The Preakness Stakes is known as one of the biggest horse racing events, and there is a wide range of markets that bettors can consider exploring. With this, here are some of the popular betting markets for Preakness Stakes betting:

Win Bet

The win bet is the most straightforward betting market. It involves bettors choosing the horse that is most likely to win the race. The bettor wins if their chosen horse finishes in first place.

Place Bet

In a place bet, bettors wager on a horse to finish in one of the top two positions in the Preakness Stakes. If the bettor’s chosen horse secures first or second place, they win the wager. Place bets usually offer lower betting odds and payouts compared to win bets.

Show Bet

A show bet in horse racing requires the bettor’s chosen horse to finish in the top three places in the race. This betting market usually offers lower odds and payouts than place bets due to the increased likelihood of successful wagers.

Each-Way Bet

An each-way horse bet is a combination of a win and place bet. Bettors place two wagers, one for the horse to win and another for it to place, and they have to double their stake.

Prop Bets

Bettors can also explore prop bets that are specific to the Preakness race. Some examples of prop bets in the Preakness Stakes involve predicting the horse that will have the fastest opening quarter-mile time, winning margin, trainer performance, the colour of the winning horse in the race, and the post-position of the winning horse.

Helpful Tips for Betting on the Preakness Stakes

Understanding the crucial factors to consider for Singapore Pools horse betting can help determine which horses are more likely to perform better in the race. Typically, the runners in the Preakness Stakes also compete in the Kentucky Derby, which is held two weeks before.

Review the Horses’ Recent Form and Performance

One helpful tip for Preakness Stakes betting is to assess the participating horses’ recent performances. Look for contenders in participants who have consistent form, strong finishes in prep races, and any signs of improvement.

Consider Performance in the Kentucky Derby

Based on historical data, horses that performed excellently in the Kentucky Derby have also shown potential in the Preakness Stakes. Before placing any bet Preakness Stakes, look for horses that finished strongly in the Derby but may have encountered unfavourable conditions, bad draws or held in.

Evaluate the Pace and Running Style of Horses

Analyse the preferred pace and running styles of past Preakness Stakes winners. Some runners thrive in a front-running style, while others often excel with a late kick. It is advisable to look for contenders whose running style is suitable for the shorter length of the Preakness Stakes race course, as its short distance highlights speed over stamina.

Consider Trainer-Jockey Connections

Successful trainer-jockey combinations usually play a significant role in Triple Crown races like the Preakness Stakes. Bettors can consider looking into trainers and jockeys with a history of success in previous Preakness Stakes races, as their experience can be insightful when it comes to betting.

Consider the Impact of Post Position

Even though post position or the stall alone does not guarantee success, higher draws of more than four usually go better than lower draws. Consider the impact of the post position or the gate where the horse will start the race on how they can navigate the track. Avoid extreme inside or outside post positions if the latest trends suggest a disadvantage.

Learn More About Historical Trends in Past Preakness Stakes Races

When getting ready to place wagers, it is helpful for bettors to learn more about historical trends as this can give a good foundation on how to place bets on the Preakness Stakes.

In the past decade, only three favourites have won the Preakness Stakes race, which is below the historical average of 50 per cent. Moreover, two active jockeys, Kent Desormeauc and Victor Espinoza, have won the Preakness three times. Recently, some jockeys have been getting their first Preakness wins, like Jose Ortiz in 2022 and Tyler Gaffalione in 2019.

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When placing bets on major racing events such as the Preakness Stakes, bettors must choose the best horse betting site for a convenient betting experience.

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