The Preakness Stakes, the second Triple Crown race, is right around the corner, and people are getting ready to place their bets. Held at Pimlico Race Course in Baltimore on the third Saturday in May, the race follows the Kentucky Derby. If you’re looking to place a bet for this year’s race, there are different types of wagers you can consider.
The Pimlico Race Course website highlights various betting options for the Preakness Stakes, ranging from simple win, place, and show bets to more complex exacta, trifecta, and pick 6 bets. The difficulty level of each bet is reflected in the potential payout – the harder it is to win, the higher the payoff. Once you’ve decided on the type of bet you want to place, you’ll need to choose which horse or horses you think will perform well in the race based on their number.
If you’re attending the Preakness Stakes in person, you can place your bets on-site. If you’re not able to attend but still want to bet in person, your local casinos might be taking bets if it’s legal in your state. Another convenient option is to place your bets online or through a mobile app, as online betting has been legalized in many states. Popular platforms for online horse racing bets include TwinSpires and FanDuel Racing.
Understanding the odds when betting on horse racing is crucial. Odds represent the ratio of the potential winnings to the amount of money you’re betting. For example, if you see odds of 8-5, it means you’ll win $8 for every $5 you bet. In the 2024 Preakness Stakes, Muth was initially the favorite to win but was scratched due to a fever, leaving eight horses in the race. Knowing the odds can help you make more informed decisions when placing your bets.
Whether you’re a beginner or experienced bettor, the Preakness Stakes offers a range of betting options to suit your preferences and risk tolerance. From straightforward win, place, and show bets to more complex exacta, trifecta, and pick 6 bets, there are opportunities for everyone to get involved. Betting online or through a mobile app is a convenient and fast way to place your bets from home, with platforms like TwinSpires and FanDuel Racing offering easy-to-follow instructions for beginners. With the race approaching, now is the time to start researching your options and getting your bets in for the Preakness Stakes.
