Time flies when you’re on the Triple Crown trail. The 2017 Preakness Stakes is this Saturday at Pimlico Race Course in Baltimore, Maryland; at press time, Kentucky Derby winner Always Dreaming is the 5/6 favorite at Bovada Racebook, followed by Classic Empire at 3/1. With the post positions now drawn and the field set, online horse betting on the Preakness will begin in earnest, with a multitude of different betting options at your disposal.

Aside from the futures market, the most popular way to bet on the Preakness Stakes is the simple “straight wager” known as Win/Place/Show. It doesn’t get much easier than betting on your favorite horse to win, but if you prefer something a little less risky, you can also bet on your favorite horse to finish anywhere in the Top 2 (place) or the Top 3 (show). Nyquist was the 7/10 favorite to win last year’s Preakness; he came in third, but he still paid out $2.20 on every $2 show bet.
 

Completing the Trifecta

Preakness Stakes betting is even more fun when you pick more than one horse. The exacta, trifecta and superfecta wagers will be very busy this Saturday; for these bets, you pick the first two, three and four horses respectively to cross the finish line, in exactly the right order. The more horses you put on your ticket, the bigger the prize gets. Last year’s Preakness superfecta was worth $317 for every $2 wager.

To make these exotic bets a little less risky, you can place a boxed wager and pick the horses in question to finish in any order. A boxed exacta is called a quinella; in this case, you pick two horses for the Preakness, and they can finish 1-2 or 2-1. Or you can split the difference and make a wheeled bet where you specify one horse to finish in a certain position, and the remaining horses in any order. For example, you could bet Always Dreaming to win the Preakness, then add Classic Empire and Lookin at Lee to finish 2-3 or 3-2.
 

Hoof Picks

If you’d rather stick with betting on the winner, but you still want to make a combo bet, you can bet on which horses will win consecutive races on the card. This could be two races (the famous Daily Double), three races (Pick 3) or four races (Pick 4). There are 14 different races on Saturday’s card at Pimlico, including eight graded stakes, so the betting options are almost endless.

Don’t forget the coupled entry betting option for the Preakness; anytime more than one horse from the same stable/trainer appears in a race, you can group them together and get paid if any of them win. On Saturday, two Steve Asmussen horses will be at Pimilco: Lookin at Lee, who finished second at the Kentucky Derby, and Hence, who finished 11th. Will either of them beat the favorites? Now you can bet on both horses at Bovada Racebook.
 

 

*Odds as of May 19, 2017