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Preakness Stakes Betting In Tennessee

The Preakness Stakes serves as the second jewel of horse racing’s highly coveted Triple Crown. The race takes place each year, typically on the third Saturday of May, at the Pimlico Race Course in Baltimore. The Preakness takes place two weeks after the Kentucky Derby and three weeks ahead of the Belmont Stakes. Whether you bet on horse racing in Tennessee all of the time or are just a casual fan of the sport, the Preakness makes for a great betting opportunity every year.

Where to bet on the Preakness Stakes in Tennessee

Even before sports betting became legal in Tennessee, pari-mutuel horse betting was legal through US-owned, operated and regulated websites. While there are no physical off-track betting (OTB) locations in Tennessee, there are a number of horse racing websites and mobile apps that will legally book your Preakness Stakes action and other horse racing bets year round.

How to bet on the Preakness Stakes

As mentioned above, pari-mutuel wagering on the Preakness Stakes and horse racing is tied to pools into which everyone around the world is betting. The host tracks and operators offering betting services take their cut out of the pool (generally 20-30% total), and then the winners receive what’s remaining from the pool. This is why horse racing odds are constantly changing leading up to the race. Your pari-mutuel payout depends directly on how many people in the pool are betting with you or against you.

Preakness Stakes pari-mutuel betting

Pari-mutuel betting is the most common form of betting on horse racing and the Preakness Stakes. Bettors in Tennessee and around the world can bet on the following outcomes, each of which form their own separate pari-mutuel pools:

  • Win: A bet on a horse to win the race.
  • Place: A bet on a horse to finish in first or second place.
  • Show: A bet on a horse to finish in first, second or third place.
  • Exacta: A bet on the exact order of the first place and second place horse.
  • Quinella: A bet on which two horses will finish in first and second place, in any order.
  • Trifecta: A bet on the exact order of the first, second and third place horses.
  • Superfecta: A bet on the exact order of the first, second, third and fourth place horses.

Preakness Stakes facts and records

  • First race: 1873
  • Race track: Pimlico Race Course
  • Location: Baltimore, Maryland
  • Race distance: 1 3/16 miles (9.5 furlongs) since 1925
  • Most wins by a jockey: Eddie Arcaro, 6
  • Most wins by a trainer: R. Wyndham Walden and Bob Baffert, 7
  • Most wins by an owner: Calumet Farms, 7
  • Fastest speed record: Secretariat, 1:53, 1973
  • Largest margin of victory: Smarty Jones, 11.5 lengths, 2004

Top 10 biggest upsets in Preakness Stakes history

  1. Master Derby, 1975, 23/1 odds — Foolish Pleasure looked extremely sharp in his Kentucky Derby win in 1975. He closed as a 1/1 favorite in the Preakness Stakes. Eight of the 10 horses that ran in the Preakness finished behind Foolish Pleasure, but the 23/1 long shot Master Derby finished ahead of him in the biggest upset in Preakness Stakes history.
  2. Coventry, 1925, 21/1 odds — On May 8, 1925, Coventry simply ran the race of his life. The 3-year-old defeated runner-up Backbone (1/1) by four lengths on a fast track. This was the only race that Coventry ever won and one of only two times he landed on the payout board over his five-race career.
  3. Display, 1926, 19/1 odds — The top three favorites on the betting board at post time in the 1926 Preakness Stakes all finished outside of the top five. Display came away with the big upset win as a 19/1 long shot, beating Blondin (5/1) by a head. Mars (19/1), Dress Parade (10/1) and Light Carbine (50/1) rounded out the top five.
  4. Bee Bee Bee, 1972, 18/1 odds — 1972 Kentucky Derby winner Riva Ridge was the clear favorite in the Preakness’s seven-horse field in 1972, closing as a 1-5 favorite at post time. But Riva Ridge didn’t look good on a sloppy track, and Bee Bee Bee won the day as an 18/1 underdog. Riva Ridge bounced back to cruise to a dominant win in the Belmont Stakes, making this upset stand out even more in retrospect.
  5. Oxbow, 2013, 15/1 odds — 2013 Kentucky Derby winner Orb was a 3/5 favorite at post time racing from the rail position. But it was Oxbow, the second biggest long shot on the board at 15/1, who looked like the horse to beat all afternoon. Oxbow jumped out to an early lead and was already leading by one and one-half lengths after the first quarter mile. With a slow pace and no other horses challenging him for the lead, Oxbow had enough left in the tank to hold off the field down the stretch, becoming the race’s first wire-to-wire winner since 1982. The $2 exacta with Itsmyluckyday (8/1) paid out $301.40 and the $2 trifecta with Mylute (10/1) paid $2,061.60
  6. Hindus, 1900, 15/1 odds — The Preakness in 1900 took place at the Gravesend Race Track on Coney Island, New York, with Hindus as the longest shot on the 10-horse board at 15/1. Hindus had a good break out of the gate and settled in behind the leaders, biding his time under jockey Henry Spencer before eventually surging to a narrow win over runner-up Sarmatian (6/1) and the rest of the field.
  7. Don Enrique, 1907, 15/1 odds — After three horses scratched out of the race, the 1907 Preakness Stakes field ended up at just seven horses. This should have favored the favorites, but it was Don Enrique who overcame a slow start as a 15/1 long shot to surge down the final sixteenth of a mile to beat Ethon (3/1) and favorite Zambesi (2/1) for the surprising upset win.
  8. Deputed Testamony, 1983, 14/1 odds — Sunny’s Halo became just the second Canadian-bred horse to ever win the Kentucky Derby in 1983. But he never really got his legging on a rainy day in Pimlico that led to a sloppy track and a rough trip from the 1/1 favorite that saw him get bumped early and boxed out of the lead. The slow pace and sloppy track gave Deputed Testamony the chance to cash in with a win by two and three-quarter lengths over Desert Wine (4/1) in second place.
  9. Cloud Computing, 2017, 13/1 odds — Cloud Computing’s trainer Chad Brown decided that his best path to victory in a Triple Crown race would be to hold Cloud Computing out of the Kentucky Derby so that his horse remained fresh for the Preakness Stakes. The move paid off as Cloud Computing narrowly edged out Classic Empire (2/1) to become the first horse since Rachel Alexandra in 2009 to win the Preakness without having competed in the Derby. Senior Investment (30/1) rounded out a $2 (2-5-8) trifecta that paid out $2194.60.
  10. Bernardini, 2006, 12/1 odds — The 2006 Preakness Stakes is sadly remembered for Kentucky Derby winner Barbaro breaking down early in the race with injuries sustained to his right hind leg. Bernardini seized the moment with a five and one-quarter length win over runner-up Sweetnorthernsaint (8/1) and third-place finisher Hemingway’s Key (29/1). With both Barbaro (1/2) and second-favorite Brother Derek (3/1) finishing outside of the top three, the $2 (8-7-3) trifecta paid a whopping $3,912.80

Preakness Stakes FAQ

How many horses race in the Preakness Stakes?

The field size varies from year to year, but the upper limit is 14 horses.

What decides the Preakness Stakes field?

Owners that want to nominate their horse for entry into the Preakness Stakes must nominate their horse by the closing date to do so in January before the race and pay a $15,000 entry fee. Horses that are selected and do race in the Preakness will cost the owner another $15,000.

The first seven spots in the Preakness Stakes go to the top-prize-money earners in graded-stakes racing, including the winner of the Kentucky Derby, which typically runs two weeks before the Preakness. In addition to the winner of the Kentucky Derby, each of the top five finishers in the Derby gain a spot in the Preakness should they choose to accept it.

Four more spots in the Preakness Stakes go to the top lifetime earners in non-restricted races among the horses that have been nominated. Lastly, the field is rounded out based on lifetime prize money earned in both open and restricted races.

Do favorites perform well in the Preakness Stakes?

Compared to how they fare in the other two Triple Crown races, yes. Historically, the horse to close as the betting favorite at post time has won roughly 50% of the time in the Preakness Stakes compared to just over 40% of the time in the Belmont Stakes and just over 35% of the time in the Kentucky Derby.

This makes sense given that the Preakness doesn’t have the massive field size (20 horses) that the Kentucky Derby does or the increased length (1.5 miles) of the Belmont Stakes.

Has a filly ever won the Preakness Stakes?

Yes. Through the 2019 Preakness Stakes, there have been five fillies to win the event:

  • Flocarline (1903)
  • Whimsical (1906)
  • Rhine Maiden (1915)
  • Nellie Morse (1924)
  • Rachel Alexandra (2009)

When is post time for the Preakness Stakes?

Post time is 6:20 p.m. Eastern Time. NBC generally shows some of the preceding races leading up to the Preakness at Pimlico, and also builds up to the race with details and stories on the horses, trainers and owners involved in the race.

How many Kentucky Derby and Preakness Stakes winners have gone on to win the Triple Crown?

There have been 13 horses to win the Triple Crown after winning both the Kentucky Derby and Preakness:

  • Sir Barton (1919)
  • Gallant Fox (1930)
  • Omaha (1935)
  • War Admiral (1937)
  • Whirlaway (1941)
  • Count Fleet (1943)
  • Assault (1946)
  • Citation (1948)
  • Secretariat (1973)
  • Seattle Slew (1977)
  • Affirmed (1978)
  • American Pharaoh (2015)
  • Justify (2018)

A total of 36 horses have won the Preakness Stakes after winning the Kentucky Derby, but only these 13 have completed the Triple Crown.