The 2027 Preakness Stakes returns to Pimlico Race Course after last year’s race ran at Laurel Park during a major renovation project at Pimlico. Race organizers haven’t yet confirmed the official date, but the second leg of the Triple Crown traditionally runs in mid-May, two weeks after the Kentucky Derby.
Read on for BettingUSA’s complete Preakness Stakes betting guide. Below, we explain how to bet on the Preakness Stakes online, discuss this year’s best horse wagering bonuses, and share expert picks from veteran handicappers.
Preakness Stakes Betting Sites
$200 Welcome BonusTwinSpires Offer Code: BET200
Void where prohibited. Terms and conditions apply. Offer for TwinSpires Racing only. See TwinSpires.com for details. Must be 18+ (21+ where applicable). For help with a gambling problem, call 1-800-GAMBLER.
100% up to $50AmWager Promo Code: BUSA
Promotional offer valid and continues until further notice. Open to new AmWager account holders who have not previously opened an AmWager account. Individuals may only have one (1) AmWager account and may only qualify for a signup promotion one (1) time. The First Deposit Match Bonus promotion applies to the first deposit made; any subsequent deposits will not apply. The amount of the first deposit will determine the amount of the bonus and bets that must be placed to earn the bonus. For example, to qualify for the maximum bonus of $50, an initial deposit of $50 is required and total bets must equal $50 or more within 30 days of signing up. Cancelled wagers and refunded wagers are not eligible and will not be counted towards the promotion. The total promotional wagering credits will be credited to the AmWager account in a single deposit within seven (7) business days of meeting the betting requirements for this promotion. Any promotional wagering credits deposited to a player’s account must be wagered and cannot be withdrawn from the account. Any winnings from those wagers are cash and can be withdrawn. Any portion of the promotional credits unused expires after 30 days. Account must remain in good standing to be eligible for all promotions. Returned deposits during the promotional period will cancel eligibility to receive promotional wagering credit. Limit one promotional offer per household.
50% up to $300Iron Bets Racing Promo Code: BUSA
18/21+, T&Cs Apply. Gambling Problem? Call 1-800-GAMBLER
21+ to Play, T&Cs Apply. Gambling Problem? Call 1-800-GAMBLER
Betting On The 2027 Preakness Stakes
Preakness Stakes betting handle regularly approaches $100 million from all sources, and online racebooks compete vigorously for a piece of that action. As a result, legal horse racing betting sites will be on hand all weekend with live racing video, full track odds, and special offers for fans nationwide.
- When: Mid-to-late May 2027 (official date pending)
- Where: Pimlico Race Course in Baltimore, Maryland
- Preakness Stakes Post Time: TBA
Once the post-position draw is complete and the field is set, legal online racebooks will open their 2027 Preakness Stakes betting markets roughly 24 hours before post time.
Where To Bet On The Preakness Stakes Online
It is not necessary to attend the race in person or visit the nearest OTB to bet on the Preakness Stakes, although both are viable options.
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 operators, allowing them to offer all the same types of wagers that fans can find in person at the Preakness Stakes.
All wagers placed online with licensed apps and betting sites are pooled with wagers taken at the track, giving customers true track odds and supporting the horse racing industry. The top-rated Preakness Stakes betting sites operate legally in nearly 40 states.
Preakness Stakes Betting Promotions
Below is a collection of Preakness Stakes promotions from BettingUSA’s most-recommended horse racing betting sites and mobile apps. We will update this roundup as additional 2027 Preakness Stakes offers go live.
AmWager Preakness Stakes Promotions
100% up to $50AmWager Promo Code: BUSA
Promotional offer valid and continues until further notice. Open to new AmWager account holders who have not previously opened an AmWager account. Individuals may only have one (1) AmWager account and may only qualify for a signup promotion one (1) time. The First Deposit Match Bonus promotion applies to the first deposit made; any subsequent deposits will not apply. The amount of the first deposit will determine the amount of the bonus and bets that must be placed to earn the bonus. For example, to qualify for the maximum bonus of $50, an initial deposit of $50 is required and total bets must equal $50 or more within 30 days of signing up. Cancelled wagers and refunded wagers are not eligible and will not be counted towards the promotion. The total promotional wagering credits will be credited to the AmWager account in a single deposit within seven (7) business days of meeting the betting requirements for this promotion. Any promotional wagering credits deposited to a player’s account must be wagered and cannot be withdrawn from the account. Any winnings from those wagers are cash and can be withdrawn. Any portion of the promotional credits unused expires after 30 days. Account must remain in good standing to be eligible for all promotions. Returned deposits during the promotional period will cancel eligibility to receive promotional wagering credit. Limit one promotional offer per household.
New and existing AmWager customers can claim multiple Preakness Stakes betting promotions this year.
New Customers: $50 First Deposit Bonus
- AMWager Preakness Stakes Promo Code: BUSA
If you sign up for an account with AmWager, make a first deposit of $50, and place at least $50 worth of wagers within 30 days, you’ll receive wagering credits worth $50.
The AmWager bonus is available year-round, but it’s one of the best Preakness Stakes promotions for bettors who don’t already have accounts because it is straightforward, free of burdensome conditions, and is easy to clear for withdrawal.
New users can qualify in three simple steps:
- Visit AmWager.com and sign up for an account
- Make a first deposit of $50 with the AmWager promo code BUSA
- Place an equal amount of wagers within 30 days of registering
Zero Percent Preakness Takeout
Bet on the Preakness Stakes with 0% track takeout on WIN bets at AmWager. Opt in to this promotion and receive wagering credits equal to 22% of your gross payout on winning WIN bets – credited the next day.
How to claim:
- Sign up or log in to your AmWager account
- Go to the Promos tab and opt in
- Place WIN bets on the Preakness Stakes
Preakness Week Bankroll Giveaway
Earn up to seven free entries in the AmWager Bankroll Giveaway during Preakness Stakes Week for a chance to win $100, $150, or $250 in wagering credits.
Get one free entry per day by completing these three steps:
- Log in to your AmWager account
- Go to the Promos tab
- Opt in to the Bankroll Giveaway
(Maximum of one entry per day; up to seven entries total)
Daily Cash Rewards
All AmWager customers receive daily cashback rewards as a percentage of their wagers, including bets placed on Triple Crown events. Bettors earn anywhere from 0.25% to 2.5% cashback on every wager based on their wagering volume.
TwinSpires Preakness Stakes Betting Promotions
$200 Welcome BonusTwinSpires Offer Code: BET200
Void where prohibited. Terms and conditions apply. Offer for TwinSpires Racing only. See TwinSpires.com for details. Must be 18+ (21+ where applicable). For help with a gambling problem, call 1-800-GAMBLER.
As the official online horse racing betting site of Churchill Downs, TwinSpires has plenty of resources to fund big Preakness Stakes promotions. In addition, a large welcome bonus for all new users makes TwinSpires a compelling choice for anyone who doesn’t already have an account.
TwinSpires $200 New Customer Bonus
All new TwinSpires customers can get up to $200 extra when they sign up for accounts with the offer code BET200. Bettors who don’t already have accounts can claim the offer in four steps:
- Visit twinspires.com from any desktop or mobile device to sign up for an account
- Use the Twinspires Preakness Stakes offer code BET200 when registering
- Place $400 worth of wagers within 30 days of signing up to receive a $100 bonus
- Place another $400 worth of wagers within 30 days of signing up to receive another $100 bonus
Check Back for More Preakness Stakes Promotions
TwinSpires usually has multiple promotions running on any given day, so check back soon for its latest TwinSpires offers. Typical types of TwinSpires Preakness Stakes promos include free PPs and money back on your WIN bet if your selection finishes in second or third place.
Visit TwinSpires here to register and bet on the Preakness Stakes
FanDuel Racing Preakness Stakes Promos
FanDuel Racing welcomes all new customers with a first bet bonus plus ongoing promos for the Preakness Stakes and other major horse races.
New Customer Welcome Bonus
Sign up for an account with FanDuel Racing and place a $5+ bet on the Preakness Stakes (or any other race) to receive $25 in racing bonuses.
The FanDuel Preakness Stakes bonus is non-withdrawable and expires seven days after receipt, but any winnings derived from the bonus are withdrawable.
No Sweat Preakness Stakes Bet
Each year, FanDuel Racing typically invites all customers to bet on the Preakness Stakes online by offering a no-sweat bet.
In short, the promo will allow you to place a WIN bet on any Preakness horse. If your wager loses, FanDuel will refund it with bonus funds of equal value.
Additional FanDuel Preakness Stakes Promos
FanDuel Racing consistently launches new Preakness Stakes betting promos each year ahead of the race. Check back closer to race day for the latest updates and offers.
Iron Bets Racing Preakness Stakes Promos
Iron Bets Racing offers a $300 deposit bonus for new customers and will announce additional Preakness Stakes promos for existing accountholders a few days before the race.
The deposit bonus is particularly attractive because it’s the largest of its type. Unlike the first bet refund offers some other Preakness Stakes betting sites offer, the Iron Bets bonus benefits everyone, not just customers who place losing wagers.
The offer is easy to claim:
- Use the promo code BUSA when signing up for an account
- Make a deposit and receive an extra 50% in bonus funds
Be sure to check back in the days leading up to the race for additional Preakness Stakes betting bonuses.
States With Legal Preakness Stakes Betting
Each betting site serves different states based on its interpretation of the law and financial considerations. The following map shows which states are home to at least one legal horse racing betting site.
The states in blue permit online horse racing betting, while the states in red do not.
Horse Racing
Preakness Stakes Betting Odds
The official 2027 Preakness Stakes betting odds will arrive after the post-position draw finalizes the field and sets the starting positions a few days before the race. The track oddsmaker will release the morning line odds at that time to give bettors a first look at which horses are likely to enter as favorites, long shots, and middle-of-the-pack picks.
Check back closer to race day for the official 2027 Preakness Stakes odds.
Note: For anyone new to horse racing betting, note that the morning line odds serve as a starting point for the action. The morning line odds provide a sense of which horses are favored heading into the race, but pari-mutuel odds fluctuate until post time in response to the public’s wagering action. As a result, the odds you see when you bet on the Preakness Stakes may not be the odds you receive after the race concludes.
2027 Preakness Stakes Contenders
The 2027 Preakness Stakes field will take shape during Preakness Week, after the Kentucky Derby and the post-position draw.
Until then, the main question is whether the Kentucky Derby winner will enter the Preakness Stakes and keep the Triple Crown conversation alive. Recent years have shown that Derby winners do not automatically return on two weeks’ rest, and the Preakness field can look very different from the Derby field.
Broadly speaking, the contender categories worth paying special attention to include the following:
- Kentucky Derby winner: If the Derby winner enters, the Preakness immediately becomes the next test in a potential Triple Crown run.
- Other Kentucky Derby runners: Some of the horses that ran well in the Derby but fell short may return to the Preakness Stakes if their trainers think their horses will be fresh and the distance suits their running styles.
- New shooters: Some horses skip the Kentucky Derby and aim directly for the Preakness Stakes in order to enter fresher than Derby runners.
BettingUSA will update this section once the 2027 Preakness Stakes field, post positions, and morning line odds are official.
2027 Preakness Stakes Expert Picks
BettingUSA does not make horse racing predictions, but plenty of experts with decades of handicapping experience publish Preakness Stakes picks every year.
We will update this section during Preakness Week 2027 with expert picks from trusted racing analysts. Until then, bettors should be cautious with early opinions because Preakness handicapping depends heavily on which Kentucky Derby horses return, which new shooters enter, and how the post-position draw affects the race’s overall pace picture.
Past Preakness Stakes Results
Preakness Stakes Finishing Positions (2026)
| (Place) Horse | Post Position | Morning Line Odds |
|---|---|---|
| (1st) Napoleon Solo | 10 | 8-1 |
| (2nd) Iron Honor | 9 | 9-2 |
| (3rd) Chip Honcho | 6 | 5-1 |
| (4th) Ocelli | 2 | 6-1 |
| (5th) Incredibolt | 12 | 5-1 |
| (6th) Bull by the Horns | 8 | 30-1 |
| (7th) The Hell We Did | 7 | 15-1 |
| (8th) Great White | 13 | 15-1 |
| (9th) Robusta | 4 | 30-1 |
| (10th) Taj Mahal | 1 | 5-1 |
| (11th) Corona de Oro | 11 | 30-1 |
| (12th) Talkin | 5 | 20-1 |
| (13th) Crupper | 3 | 30-1 |
| (14th) Pretty Boy Miah | 14 | 15-1 |
Where To Watch The Preakness Stakes
Horse racing fans can usually watch the Preakness Stakes live on TV or stream the broadcast online. However, the exact 2027 broadcast schedule is still pending confirmation.
We will update this section once the official TV and streaming details are announced, including start times, network coverage, and streaming options.
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 quite a few licensed horse racing betting sites in the US, but most are small operations with limited geographic reach. The biggest operators are available in the most states and tend to offer the best betting promotions, handicapping tools, and other features.
All major betting sites support desktop wagering and 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 to verify their ages and identities.
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 by collecting their social security number and driver’s license number. This information is then cross-checked against private and government 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 range of deposit methods, including credit, electronic banking, and cash. The most common deposit methods include:
- Credit and debit cards
- ACH eCheck
- Green Dot MoneyPak or PayNearMe (to deposit with cash)
- Wire transfer
4. Place A Bet
Preakness Stakes betting typically opens 24-48 hours before the race and after the post-position draw. On the day before the race, customers can log in to their online or mobile betting accounts to get started.
Most betting apps present users with a list of upcoming tracks upon logging in. From there, customers can select Pimlico to view upcoming races, including the Preakness Stakes itself.
Types Of Preakness Stakes Wagers
As one of the biggest races 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 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
Addressing the “Skip the Preakness” Trend
The two-week turnaround between the Kentucky Derby and the Preakness Stakes has become a topic of discussion every year. It has become increasingly common for Derby winners to skip the second leg and rest up for the Belmont Stakes, and the strategy keeps paying off.
Case in point: Sovereignty bypassed the Preakness Stakes and won the Belmont Stakes in 2025, and Golden Tempo repeated that exact pattern in 2026.
Rumors about a schedule change pop up every year, but a legitimate change may be coming soon. Multiple (credible) reports indicate the Preakness Stakes could move to three weeks after the Kentucky Derby beginning in 2027, a shift tied to the race’s pending media rights negotiations and its new ownership situation. The Maryland Jockey Club has confirmed the discussion is ongoing but has not announced a decision.
For the full story behind the trend, including what organizers have done to address it, see our Triple Crown betting guide here:
Preakness Stakes Betting FAQ
Mike Murphy is the founder of BettingUSA.com and has over 10 years of experience in the legal gambling industry. A regular attendee of industry trade shows and conferences, Mike is a strong proponent in the idea of a well regulated online betting industry.