In a normal year, the Preakness Stakes would be held on the third Saturday of May to fall two weeks after the Kentucky Derby and three weeks before the Belmont Stakes as the second jewel of the Triple Crown. Preakness Stakes betting handle approaches $100 million ever year, making this one of the most heavily bet upon races in North America.

The 2020 Preakness Stakes, however, will be held on Saturday, October 3rd due to widespread disruptions of the horse racing season caused by COVID-19. With the 2020 horse racing season thrown into disarray by coronavirus-related track closures and rescheduled races, Preakness Stakes organizers opted to push the race back to the first Saturday of October.

As such, this year’s Preakness Stakes will serve as the third leg of the Triple Crown. There will be no Triple Crown contender this year, not due to COVID-19 but due to Tiz the Law winning the Belmont Stakes in June and Authentic winning the Kentucky Derby in September.

In this Preakness Stakes betting guide, BettingUSA will explain where to bet online, the best mobile horse wagering apps, race date, handicapping information and everything newbies need to know to get started.

Best Preakness Stakes Betting Sites and Mobile Apps

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Betting on the 2020 Preakness Stakes

The 145th running of the Preakness Stakes has been rescheduled from its usual May date to Saturday, October 3rd due to the ongoing COVID-19 pandemic.

Reschedule aside, betting will be widely accessible to fans via licensed ADWs (online and mobile betting providers) and off-track betting locations (OTBs) in states that have relaxed their lockdown measures.

One of the purposes of rescheduling the Preakness Stakes was to leave open the possibility of fans being able to attend the race in-person. However, race organizers announced on September 2nd that the race will be run without fans in attendance.

Preakness Stakes 145 will retain its order in following the Kentucky Derby but will now serve as the final leg of the Triple Crown rather than the second. The 2020 Triple Crown schedule this year put the races in a unique order:

  • Belmont Stakes: June 20th (winner: Tiz the Law)
  • Kentucky Derby: September 5th (winner: Authentic)
  • Preakness Stakes: October 3rd

The most obvious 2020 Preakness Stakes betting implications have to do with scheduling, particularly in how trainers will not have to plan for another big race soon to follow as they would most years. This year, the Preakness Stakes will be the end of the Triple Crown line.

2020 Preakness Stakes Betting Odds

The official Preakness Stakes morning line odds will be unveiled the morning after the post draw on the Wednesday preceding the race. Typically, fans can begin placing wagers in-person and online the day before the race.

After the post positions are drawn, the on-track oddsmaker will draw up the 2020 Preakness Stakes odds based on horse ability and expected public betting action. Once the books open, the public money will determine how the odds fluctuate right up until post time.

The major US oddsmakers have not yet published early odds on the 2020 runners, but online sportsbooks in other countries are taking futures wagers on the race from their customers, and the lines posted by those oddsmakers serve as a (rough) preview of what’s to come.

Soon, US-based oddsmakers will begin releasing their projections for the 2020 Preakness Stakes betting odds. The morning line odds should be delivered the week of the race and then licensed racing betting sites will begin accepting wagers. BettingUSA will update this page over time as the field takes shape and early odds are published.

Below is a list of potential contenders and their statuses according to Horse Racing Nation, plus a look at the futures odds offered by sportsbooks in other countries:

Horse StatusEarly Odds (projected)
   
Tiz the LawUnlikely15-8
Art CollectorProbable9-2
AuthenticProbable6-5
King GuillermoPossible14-1
Dr PostPossible14-1
Mr. Big NewsPossible16-1
Thousand WordsProbable10-1
Mystic GuidePossible16-1
Shirl’s SpeightGoalN/A
PneumaticProbable16-1
LebdaGoal66-1
Mongolian WindGoal50-1
Happy SaverPossible12-1
   
Other Possible Runners  
   
Honor A.P. 6-1
Rushie 14-1
Max Player 16-1
Ny Traffic 20-1
Money Moves 20-1
Tap It To Win 20-1
Cezanne 20-1
Storm The Court 25-1
Enforceable 25-1
Sonneman 25-1
Sole Volante 33-1
No Parole 33-1
Necker Island 40-1
Major Fed 40-1
Winning Impression 50-1
Attachment Rate 50-1
South Bend 50-1

Early projected odds will be released much sooner than the official morning line odds, and BettingUSA will update this page as those start to firm up. Once the morning line odds go live, we will update this page once again with a full list of Preakness contenders, current odds and any betting promotions that may be on offer.

Where to Bet on the Preakness Stakes Online

It is not at all necessary to attend the race in-person or visit the nearest OTB to bet on the Preakness Stakes.

Numerous horse racing betting sites and mobile apps are available to fans in most states. These betting sites are legal, licensed and operate with the permission of track owners, allowing them to offer all the same types of wagers that are offered at the Preakness Stakes itself.

All wagers placed online with licensed betting sites are pooled with wagers taken at the track, giving customers true track odds and supporting the horse racing industry. Our top-rated Preakness Stakes betting sites are fully legal and collectively operate in upwards of 40 states.

Recommended Betting Sites and Mobile Apps

Where to Watch the Preakness Stakes Online or on TV

Horse racing fans have two options to watch the Preakness Stakes live this year. Those with an online betting account with a major provider (see the above list) may log in on race day to watch the race via desktop or mobile device.

Most betting sites require customers to either a) have a funded account or b) place at least one wager to unlock access to live streaming at no charge.

To watch it live on TV, fans can tune in to NBC Sports on race day.

Not all licensed betting sites are available in all states due to various licensing and legal considerations. Horse racing fans can select any state on the following map for a brief overview of which operators are available in each state.

The states in blue permit online horse racing betting while the states in red do not.

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Getting Started: How to Bet on the Preakness Stakes

Aside from the magnitude of the event, betting on the Preakness Stakes is no different than placing a wager on any other horse race. Horse racing fans can place wagers in-person at the race itself, at simulcasting facilities around the country or online.

1. Choose a Horse Racing Betting Site

For fans who wish to bet online or through a mobile app, getting started begins with choosing a reputable horse racing betting operator.

There are actually quite a few licensed horse racing betting sites in the US, but most are small operations with limited geographic reach. The biggest operators, as listed above, are available in the greatest number of states and tend to offer the best betting promotions, handicapping tools and other features.

All major betting sites support desktop wagering along with mobile apps for iOS and Android devices.

2. Sign up and Verify

Licensed betting sites are required by law in all states to collect the information of new customers and to verify the age and identity of each new customer.

Initially, signing up for an account to bet on the Preakness Stakes involves submitting the usual personal information:

  • Name
  • Address
  • E-mail and phone number

Additionally, operators must verify each customer’s identity and do so by requesting a social security number and driver’s license number. This information is then cross-checked against government and private databases to confirm the identity of each customer.

In most cases, signing up takes just a few minutes.

3. Make a Deposit

Most horse racing betting sites accept a wide variety of deposit methods that cover a range of options including credit, electronic banking and even cash. The most common deposit methods include:

  • Credit and debit cards
  • ACH eCheck
  • Wire transfer
  • Green Dot MoneyPak or PayNearMe to deposit with cash

5. Place a Bet

Preakness Stakes betting typically opens 24-48 hours prior to the race after post positions have been drawn. On the day before the race, customers can log in to their online or mobile betting account to get started.

Most betting apps present users with a list of upcoming tracks upon logging in, and from there customers can select Pimlico Race Course to view upcoming races – including the Preakness Stakes itself.

Types of Preakness Stakes Wagers

As one of the biggest race on the calendar, Preakness Stakes betting options will include all the most common types of wagers outlined below.

Straight Bets

  • Win: Select a horse to finish in 1st place
  • Place: This wager wins if the selected horse finishes in 1st OR 2nd place
  • Show: This wager wins if the selected horse finishes anywhere in the first three places

Exotic Bets

  • Exacta: Select two horses to finish in 1st and 2nd place in the correct order
  • Quinella: Select two horses to finish in 1st and 2nd place in any order
  • Trifecta: Select three horses to finish in 1st, 2nd and 3rd place in the correct order
  • Superfecta: Select four horses to finish in 1st-4th places in the correct order
  • Hi-5: Select five horses to finish in the top five in the correct order

Multi-Race Exotics

  • Daily Double: Pick the winners of 2 consecutive races
  • Pick 3, Pick 4, Pick 5 and Pick 6: Pick the winners of 3, 4, 5 or 6 consecutive races