Legal Preakness Betting
The Triple Crown races are highly-anticipated every year, with the second jewel of the crown garnering attention from spectators all over the world. Horse enthusiasts want to know more about legal Preakness betting and where they can start betting on the prized ponies. Sure you can travel to Pimlico Race Course and put in your bets, but there is a much more exciting and convenient option- online horse racing betting sites. When you use an online racebook, you can bet on the Preakness without having to worry about crowds or making a trip. The Preakness Stakes are right after the Kentucky Derby and just three weeks before the Belmont Stakes, which is the pivotal point where we can start to determine if there will be a prospective Triple Crown winner. Legitimate horse racing betting sites allow horseplayers to bet on all the excitement and potentially win big.
When it comes to betting on the Preakness legally, you just have to use the right online site. There is nothing more thrilling than watching the Thoroughbreds race during their Triple Crown journey, and we can tell you the horse racing betting sites with the most action. If you want to know more about how to bet on the Preakness and what your betting options are, continue reading our overview of legal Preakness Stakes betting.
Current Odds For The 2023 Preakness Stakes
While the 2023 Preakness Stakes is set to take place on May 20th, legal horse betting sites do not have odds generated for the race at this time. The odds are typically released following the results of the first Triple Crown event, the Kentucky Derby.
When you are looking for the best sites for betting on the Preakness Stakes, there are three features that you should look for. The site should offer a wide selection of horse bet types that include both straight and exotic wagers. You should also be able to place bets and watch a live stream of the Preakness. One of the best aspects of using an online horse racing betting site is that there are bonuses and promotions. Always use an online racebook that has deposit bonuses and rebates for making horse bets. We also recommend using a site that has a mobile horse betting feature, that way you can bet on the Triple Crown race from your iPhone or Android. The sites that we recommend for Preakness Stakes betting are Bovada and SportsBetting.
Bovada makes life easy for horse bettors, as the sign up process only takes five minutes or less, and minimal personal info is required to get started. After signing up, the account can be funded within 15 minutes, with credit/debit cards and Bitcoin being the most popular deposit options. When making your first deposit into Bovada, there are welcome bonuses that can be accepted at the legal site and all of the bonus credits can be used to bet on the winner or props for the Preakness Stakes.
Whether using SportsBetting for the first time or the 100th time, there are bonuses that can be redeemed with every deposit. All of the funds can be used for betting on the Preakness Stakes and crypto deposits offer the biggest bonuses. The standard Bitcoin bonus takes the form of a 100% deposit match with up to $1,000 up for grabs and a 14x rollover. Along with deposit match bonuses, SportsBetting offers a 9% daily rebate and a $25 risk free bet for new players.
The Preakness Stakes takes places on the 3rd Saturday in May at the famed Pimlico Race Course in Baltimore, MD. Starting just two weeks after the Kentucky Derby, it is never too early to start betting on the Preakness Stakes. The three-year-olds must run a distance of 1 3/16 miles to come one step closer to winning the coveted Triple Crown. The race has been conducted since 1873, making the “Run for the black-eyed Susans” the second oldest Triple Crown race. Previous winners of the Preakness Stakes include Exaggerator, California Chrome, and Oxbow. The Preakness was most famously won by American Pharoah, who went on to become the 12th Triple Crown winner after a 37-year drought. You can get your bets in on history being made when you use an online racebook to bet on the Preakness Stakes.
Horse betting is one of the few sports categories where you have legal online and land-based options no matter where you reside. It is completely legal to bet on the Preakness and every other leg of the race. There are no federal laws that prohibit pari-mutuel wagering, so you can place as many horse bets as you would like. Online horse racing betting sites offer the most exciting betting experience with numerous ways to bet the ponies. No matter if you are a resident of the United States, Canada, Australia, or any other country, there is an online racebook that has 100% legal Preakness betting odds.
When you are ready to start betting the horses, you will want to know what types of horse bets are available. Horse bets are fairly straightforward and simple to understand, though they will range in complexity. The two main categories of horse wagers are straight bets and exotic bets. Each wager type has its own benefits in terms of your probability of winning and the resulting payoff. Straight bets (win, place, and show) are easier to execute and will therefore have smaller payoffs than exotic bets. Exotic bets (exacta, trifecta, pick 6) involve picking the exact order that horses will finish, which is much more difficult to do. That is why you will see a sizeable increase in your profits should you win an exotic bet. The only instance where will you not have to bet the exact order is if you “box” the bet. When you box the bet, you make your selections and the horses can finish in any order.
Win – A bet on the winner of the race.
Place- You will wager on your horse to come in first or second.
Show – This is a bet on your horse coming in first, second, or third place.
Exacta- Betting on the 1st and 2nd place winners in exact order.
Trifecta – A bet on who will finish in 1st, 2nd, and 3rd in specific order.
Pick 6 – You bet on the winners of six consecutive races.
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