What Is the ‘Preakness Stakes’ in Sports?

The “Preakness Stakes” isn’t a specific type of bet, but rather the name of a massive, world-famous horse race.

It is the second leg of the American Triple Crown, sandwiched right in the middle of the series.

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Key Facts to Know:

1. When & Where: It takes place on the third Saturday in May (two weeks after the Kentucky Derby) at Pimlico Race Course in Baltimore, Maryland.
2. The “Middle Jewel”: That’s its nickname. Because it happens after the Kentucky Derby but before the Belmont Stakes, it’s the make-or-break race for any horse trying to win the Triple Crown.
3. The Field: It often features the winner of the Kentucky Derby facing off against fresh horses (“new shooters”) who didn’t race in the Derby.

What Betting on the Preakness Looks Like

When you see “Preakness Stakes” in your sportsbook, it’s the category for placing bets on this specific race. You will see all the standard horse racing wagers:

• Win: You bet on a horse to finish 1st.
• Place: You bet on a horse to finish 1st or 2nd.
• Show: You bet on a horse to finish 1st, 2nd, or 3rd.
• Exotics: These are the high-risk, high-reward bets like the Exacta (picking 1st and 2nd in order) or the Trifecta (picking 1st, 2nd, and 3rd in order).