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2024 Preakness Stakes: Ultimate Betting Guide, Post Positions, Odds

Bill Speros for Bookies.com

Bill Speros  | 7 mins

2024 Preakness Stakes: Ultimate Betting Guide, Post Positions, Odds

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The 149th Preakness Stakes will be run on Saturday at Pimlico Race Course in Baltimore.  

Post-time for the Middle Leg of horse racing's Triple Crown is 6:50 p.m. ET. The race will air on NBC and steam on Peacock. 

The Kentucky Derby winner Mystik Dan seeks to become the first horse in five years to win the first two races of the Triple Crown. 

The Preakness Stakes is traditionally run two weeks after the Kentucky Derby and three weeks before the Belmont Stakes, the final jewel in the Triple Crown. Attendance and betting handle at the Preakness Stakes is second only in horse racing to the Kentucky Derby. 

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What You Need To Know About The 2024 Preakness Stakes

What Horses Will Run In The 2024 Preakness Stakes?

There are expected to be nine horses in the Preakness Stakes, all of whom are considered to be 3-year-olds. Here is a look at the likely field, with the projected odds for each horse. Horses are listed by post position with their win-place-show record (and a number of starts), projected morning line odds, trainer, and jockey.

PP Horse OddsRec. Earnings Trainer Jockey
1.Mugatu20-11-1-3 (12)$80,570 Jeff Engler Joseph Talamo
2.Uncle Heavy20-13-0-0 (5)$323,580 Robert Reid Jr. Mychel J. Sanchez
3. Catching Freedom6-13-0-1 (6)$1,127,350Brad CoxFlavien Prat
SCRMuth11-14-2-0 (6)$1,504,100Bob BaffertJuan J. Hernandez
5.Mystik Dan5-23-1-1 (7)$3,714,360 Kenny McPeekBrian Hernandez Jr.
6.Seize the Grey15-13-0-3 (9)$619,938D. Wayne LukasJames A Torres
7.Just Steel15-12-4-1 (12)$724,545D. Wayne Lukas Keith Asmussen
8.Tuscan Gold8-1 1-0-1 (3)$147,100 Chad Brown Tyler Gaffalione.
9.Imagination6-12-4-0 (6)$406,800Bob BaffertLafranco Dettori

2024 Preakness Stakes: Ultimate Betting Guide, Post Positions, Odds 1

What Are The Favorite Horses In The Preakness Stakes?

Muth was the heavy favorite as in the Preakness Stakes before he was scratched on Wednesday. Muth’s trainer Bob Baffert remains persona-non-grata at Churchill Downs due to an on-going doping suspension. So Muth wasn’t allowed to race in the Derby. The horse would have taken money away from both Derby favorites Fierceness and Sierra Leone. Neither one of those horses will be running Saturday. 

Catching Freedom (6-1) rallied to finish fourth in the Derby. He was a late add this week. 

The Preakness field is significantly different than the 20-horse lineup that ran in the Derby two weeks ago. Only eight horses will run in the Preakness. And Derby winner Mystik Dan and Catching Freedom are the only Derby entrants running at the Preakness.

Baffert's other horse in the Preakness Stakes is Imagination, also at 6-1. His horses have won the Preakness eight times. Mystik Dan’s trainer Ken McPeek said it’s “all systems go” for the 18-1 Derby winner in the Preakness Stakes. Mystik Dan is 5-2. The last horse to win both the Kentucky Derby and Preakness was Justify in 2018. Justify went on to win the Triple Crown for Baffert. In all, 52 horses have won both the Derby and Preakness. 

Tuscan Gold (8-1) and Imagination are expected to be near the top of the board as well. Trainer Chad Brown seeks his third Preakness win with Tuscan Gold. 

How Long Is The Preakness Stakes?

The Preakness Stakes is 1 3/16 miles (or 9 furlongs). It’s run on a dirt track and the horses run counterclockwise. The Preakness was run at various lengths until its current distance was set in 1925. 

How Much Is The Purse In The Preakness Stakes?

The purse is $2 million, up from $1.5 million in 2023.  

What Horse Won Preakness Stakes In 2023?

National Treasure, a Baffert horse, went off at 4-1 and stormed to victory in the 2023 Preakness by 2 ½ lengths over Blazing Sevens and Mage. Coming off a win in the Kentucky Derby. Mage was the 2023 Preakness Stakes favorite at 8-5. 

2024 Preakness Stakes: Ultimate Betting Guide, Post Positions, Odds 2

What Are The Biggest Mistakes People Make When Betting On Horse Racing?

FanDuel TV host Todd Schrupp offered the following perspective before the Kentucky Derby: “"Exotically speaking, meaning wagers outside of Win, Place & Show, there are more wagering options than ever before. There are at least a dozen pools for different wagers tied into (any race). Narrow your focus on which ones you want to play. The Skill Set for playing 'Horizontally' into the (race), i.e.; Double, Pick Three, Pick Five, or a Pick Six, is vastly different  than trying to hit 'Vertically'. Exotic Vertical options are Exacta, Trifecta, Superfecta, and Super Hi-5. Be a Horizontal or Vertical player . . . not both."

What Is The No. 1 Piece Of Advice For Bettors?

"Avoid the temptation to be 'the smartest person in the room’,” Schrupp says. “We'd all like to be the only person to pick the (race) winner, and upsets do happen; but there is nothing wrong with consistently identifying solid 9-1 shots that can win versus the rarity of a 50-1 shot. Also, your first instinct about who can win . . .  is usually the best one. Don't be swayed by the deluge of information. There's nothing worse than being moved off a horse you always liked, because of someone else's opinion. Trust yourself, you got this."

Are There Any Major Misconceptions About Horse Racing Betting In General?

It’s not rocket science. But it does take work. “THE biggest misconception about betting on horses is that it's completely random,” Schrupp says. “There is a sophistication and cerebral component to handicapping a horse's past performances and trying to find a winner. Over time makes you realize it's more than just 'horses running in a circle'. Couple that with the challenge of which pool to bet into and constructing your play; and you have not just the greatest challenge in the gambling world, you have the most rewarding." 

2024 Preakness Stakes: Ultimate Betting Guide, Post Positions, Odds 4

The Kentucky Derby Is About The Roses. What About The Preakness?

The black-eye Susan is the plant of choice for the Preakness. The winning horse gets a blanket consisting of 2000 black-eye Susans. 

What’s The Most Unique Tradition At The Preakness?

After each Preakness, the winning horse’s colors are painted on the Pimlico Race Course weather vane, and on the small dome atop the Old Clubhouse.

What Horse Is The Fastest Preakness Stakes Winner Of All Time?

The great Secretariat won the 1973 Preakness Stakes in a time of 1:53. The is the record for the race at its current length. Smarty Jones won the race by a record 11 lengths in 2004.

What Horse Is The Slowest Preakness Stakes Winner Of All Time?

At the current length, Citation won the 1948 Preakness Stakes in 2:02.40 on his way to taking the Triple Crown.

What Are The Other Races In The Triple Crown?

The other two races in the Triple Crown at the Kentucky Derby – run at Churchill Downs in Louisville, Kentucky – and the Belmont Stakes – run at Belmont Park in New York. The Preakness is the shortest of the Triple Crown races at 1 3/16 miles (9.5 furlongs). The Belmont is the longest at 1 ½ miles (12 furlongs). The Derby is 1 1/4 miles. This year, Mystik Dan won the Derby. The Belmont is scheduled for June 8.

2024 Preakness Stakes: Ultimate Betting Guide, Post Positions, Odds 3

What Horses Have Won The Triple Crown?

The Triple Crown is bestowed upon the winners of the Kentucky Derby, Preakness Stakes, and Belmont Stakes. Since the three races began being run in the same year in 1875, 13 horses have won them all. None was better than Secretariat (above). Here’s the list:

Horse Year
Sir Barton1919
Gallant Fox1930
War Admiral1937
Count Fleet1943
Seattle Slew1977
American Pharoah2015

About the Author

Bill Speros for Bookies.com
Bill Speros
Bill Speros is an award-winning journalist and editor whose career includes stops at USA Today Sports Network / Golfweek, Cox Media, ESPN, Orlando Sentinel and Denver Post.