Preakness Stakes Betting Odds & Predictions 2023

As we head into the spring, horse racing season is officially underway, which means one of the most significant events in horse racing was back for another run. The 148th edition of the Preakness Stakes took place on Saturday, May 20th, at Pimlico Race Course in Baltimore, Maryland. Live coverage of the Triple Crown’s second leg began coverage at 4:30 pm ET on both NBC and the NBC Sports App, with the primary race scheduled to start at approximately 7:05 pm ET. The third leg of the Triple Crown is the Belmont Stakes.

Follow along with the rest of this page for everything there is to know about the 2023 “Run for the Black-Eyed Susans”, including the winner, the best promotional offers for the Belmont Stakes, odds and predictions, and much more!

Best Preakness Stakes betting sites

$200 Sign Up Offer

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  • Promo Code: USBRACING
  • Betting Arm of Churchill Downs
  • Legal in 35+ States
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$200 Deposit Match

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  • DRF Promo Code
  • Excellent Welcome Offer
  • Horse Racing Authority Since 1894
T&Cs Apply21+. Eligibility restrictions apply. See website for details.

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$150 Deposit Match

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  • AmWager Promo Code
  • Active in 25+ States
  • Taking Bets Since 2009
T&Cs Apply21+. Eligibility restrictions apply. See website for details.

Horse Racing AppsSign Up Offer
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2023 Preakness Stakes Recap

With 4-1 odds, National Treasure took home the 148th edition of the Preakness Stakes.

National Treasure is trained by legend Bob Baffert. Baffert was the subject of plenty of controversy in 2021 when former Kentucky Derby champion, Medina Spirit, was stripped of its title after testing positive for a steroid after the race.

Baffert was banned from Churchill Downs for two years – this is his 8th Preakness victory of his career.

2023 Preakness Stakes odds

With the conclusion of the Kentucky Derby, odds for the 2023 Preakness Stakes began to materialize as Derby champion, Mage, finished as the betting favorite for the Stakes with 8-5 odds. The field was announced on Monday, May 15th.

There were only eight horses in this year’s field with Mage as the lone horse that also ran in the Kentucky Derby.

Below is a table of the closing odds for the 2023 Preakness Stakes following the post position draw on Monday, May 15th. 

Preakness 2023 HorsesPreakness Stakes OddsMoneyline Odds
National Treasure4-1+400
Chase the Chaos50-1+5000
Red Route One10-1+1000
Blazing Sevens6-1+600
First Mission5-2+250

Preakness 2023 Horses

As we stated above, it should come as no surprise that Mage was the favorite in this one.

Some other potential contenders heading into this one were First Mission (5-2), National Treasure (4-1), and Blazing Sevens (6-1)

2023 Preakness Stakes predictions

Unlike 2022, the Kentucky Derby champion set the stage to try to take home the Preakness Stakes in an attempt to win the Triple Crown.

Mage attempted to chase history on May 20, 2023 as 13 horses have won the illustrious honor in the past. We’ve only had two horses take home the honor in the 21st century: American Pharoah (2015) and Justify (2018).

The Preakness Stakes is the shortest racetrack of the three that comprise the Triple Crown at 1 3/16 miles – endurance will certainly be a factor, but unlike the Kentucky Derby, any of these horses that expect to win cannot get out to a slow start.

Preakness Stakes Horse Betting Operators

Placing some action on any of the 2023 Preakness Stakes participants listed above should be a breeze for most players, as online horse betting is live and legal in more than forty different states across the country.

Altogether, there are six major online platforms typically used by horse bettors throughout the United States. Where you reside will ultimately dictate which operators are available, however the majority of states should have access to either TVG or TwinSpires with some other variant of DRF Bets, AmWager, and/or NYRA Bets too. Players based in New Jersey will be restricted to using 4NJBets, which is a mirror image of TVG’s offering in other states specifically created for bettors in the Garden State.

Preakness Stakes best offers explained

Each of the horse betting platforms listed above, aside from NYRA Bets, are currently offering all new, first-time users an incredible welcome bonus when they sign up for a brand new account. Details regarding each offer will vary, so we went ahead and covered everything you’ll need to know about each promotion.

TVG & 4NJBets

Both TVG and 4NJBets, the brand’s New Jersey-specific horse betting app, are offering all new users a risk-free first wager worth up to $200! After registering for an account, just make a deposit and make your initial bet within 15 days of account creation to be deemed eligible.

If your first single-horse wager in the Preakness Stakes goes south, TVG will cover 100% of your initial stake, up to $200! The reimbursement will appear in your account in the form of a Promotion Bonus within five (5) days of bet settlement and must be wagered before it can be withdrawn. If unused after thirty (30) days, any Promotion Bonus funds will expire.


One of the nation’s leading horse betting providers is back with another incredible welcome bonus. TwinSpires’ current offering is a bit different than other sites, but it sure is lucrative. Essentially a bet-and-get style promotion, TwinSpires is offering all new users an opportunity to earn up to $200 in bonus cash, completely on the house!

In order to take advantage, new users must wager a minimum of $800 bucks with TwinSpires during the first 30 days of registering an account. For each $400 bet with TwinSpires during this period, eligible users will unlock bonus cash in increments of $100. Once the promotional period ends or the user successfully clears the $800 wagering requirement, all bonus cash earned will be distributed to eligible accounts within ten (10) business days. Once issued, all bonus cash is set to expire if unused after thirty (30) days. Always keep those dates in mind and use it before it’s too late!


While AmWager might not be as popular on a national scale in comparison to some of the other horse betting brands, it can certainly hang with the best of them when it comes to its promotional offerings. At the moment, all new users who sign up for a brand new account with AmWager will instantly receive a 100% match worth up to $150 on their first deposit with the website.

In order to qualify, just make an initial deposit of $150 or more. From there, place at least $150 in horse wagers within the first thirty (30) days of registration. Once complete, a 100% match of your initial deposit will be credited to your account within seven (7) business days. All bonus funds must be wagered before they can be withdrawn and will expire if unused thirty (30) days after issuance.


The Daily Racing Form’s mobile betting arm might have the strongest welcome bonus of them all, so we saved the best for last! Any and all new users who register with DRF will have an opportunity to start betting with a bankroll of $51 by depositing just $250! Simply signing up for an account will nab $250 in promotional funds waiting in the wings.

The second part of this packed promotion involves a 100% deposit match worth up to $250! In order to qualify, just make a deposit within fourteen (14) days of account creation or the offer will expire. If done correctly, DRF will instantly match your initial deposit, giving all new users double the bankroll to get started with. In order to clear the promotional funds, players will need to wager the entire bonus and deposit amount at least once.

But wait – there’s more! As an added incentive, all new players who choose to pursue this offer will also begin with 10 Free Formulator PPs, courtesy of DRF. It’s an incredible welcome package and we recommend every horse bettor takes advantage.

How to place bets on the Preakness Stakes

Placing a wager on the 2022 Preakness Stakes should be easier than ever before, with online horse betting now live and legal in more than 40 different states across the nation. Where you live will ultimately determine your betting options, so we went ahead and broke down which platforms are accepting action in each state:

  • Alabama: AmWager, DRF, NYRA Bets, TwinSpires
  • Arizona: DRF, TVG, TwinSpires
  • Arkansas: DRF, NYRA Bets, TVG, TwinSpires
  • California: DRF, NYRA Bets, TVG, TwinSpires
  • Colorado: DRF, NYRA Bets, TVG, TwinSpires
  • Connecticut: AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Delaware:AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Florida:AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Idaho: AmWager, DRF, TVG, TwinSpires
  • Illinois: DRF, NYRA Bets, TVG, TwinSpires
  • Indiana: AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Iowa: DRF, TVG, TwinSpires
  • Kansas: AmWager, DRF, TwinSpires
  • Kentucky: AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Louisiana: AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Maine: Bettors in Maine are restricted to wagering with
  • Maryland: DRF, NYRA, TVG, TwinSpires,
  • Massachusetts:AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Michigan: DRF, NYRA, TVG, TwinSpires
  • Minnesota: DRF, NYRA, TVG, TwinSpires
  • Montana:AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Nebraska: AmWager, DRF, TwinSpires
  • Nevada: Bettors in Nevada are limited to using online horse betting apps and websites provided by local casinos
  • New Hampshire: AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • New Jersey: NJ horse bettors are limited to using 4NJBets. It’s the only game in town
  • New Mexico: AmWager, DRF, TVG, TwinSpires
  • New York: AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • North Dakota:AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Ohio: AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Oklahoma: AmWager, DRF, TwinSpires
  • Oregon:AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Pennsylvania: DRF, NYRA, TVG, TwinSpires
  • Rhode Island: AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • South Dakota: AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Tennessee: AmWager, DRF, NYRA, TwinSpires
  • Vermont:AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Virginia: DRF, NYRA, TVG, TwinSpires
  • Washington: DRF, NYRA, TVG, TwinSpires
  • West Virginia:AmWager, DRF, NYRA Bets, TVG, TwinSpires
  • Wisconsin: AmWager, DRF, NYRA, TwinSpires
  • Wyoming: AmWager, DRF, TVG, TwinSpires

Unfortunately for bettors residing in Mississippi and Texas, online horse betting is still illegal in both states. Players can, however, place wagers on the Preakness Stakes at any of their state’s in-person facilities.

Residents of Missouri are permitted to wager on horse racing in-person, however it must take place at a racetrack, which the state has none.

Residents of AlaskaGeorgiaHawaiiNorth CarolinaSouth Carolina, and Utah will be unable to legally wager on the Preakness Stakes, regardless of whether it takes place in-person or online. Betting on horse racing of any kind remains fully illegal in each of those states.

Different types of Preakness Stakes betting

Once you’ve figured out which platform you’d like to wager on and made sure it’s available in your state, it’s time to place some bets! Like any and all other horse races, there are countless different ways to wager on the Preakness Stakes. And while most horse betting terminology may sound like somewhat of a foreign language to less-experienced players, it’s really not too difficult to understand when looking at everything laid out in front of you:

  • Win: Bet on a single horse to win the race. They must finish in first.
  • Place: Wagering on a horse to place lets the bettor cash their ticket as long as their chosen horse finishes in first or second.
  • Show: The payout will be a little lower, but betting on a horse to show will pay as long as your horse finishes firstsecond, or third.
  • Exacta: Pick the first and second place runners correctly. You have to get them in the exact order, otherwise it doesn’t count.
  • Quinella: Select the first and second place finishers, but the order doesn’t count. The Quinella is a little more liberal than the Exacta.
  • Trifecta: Pick the firstsecond, and third horses correctly, and you have to nail each one.
  • Superfecta: Select the first, second, third, plus the fourth place horses in perfect order.
  • Super Hi-Five: Pick each of the firstsecondthird, fourth, and even the fifth finishers accurately, in order.

Preakness Stakes bettors will also have the chance to pair up their best Preakness Stakes picks with selections from any of the other nine races occurring on Saturday:

  • Double: Pick the winner in back-to-back runs
  • Pick 3: Pick the winner in three straight races
  • Pick 4: Pick the winner in four straight races
  • Pick 5: Pick the victor in five consecutive races
  • Pick 6: Pick the first place runner in six consecutive races

History of the Preakness Stakes

Despite being known in the mainstream media as the second leg of the Triple Crown, the Preakness Stakes actually raced for the first time on May 27, 1873, two years prior to the first running of the Kentucky Derby. The race is a flat, Grade I thoroughbred competition run over a distance of 9.5 furlongs on dirt, typically involving three-year-old colts and fillies. The race has been dubbed “The Run for the Black-Eyed Susans” because a blanket of Maryland’s state flower, rudbeckia hirta (black-eyed Susan), is draped over the winning horse.

Since its inception, the Preakness Stakes has been held at Pimlico Race Course in Baltimore, Maryland on the third Saturday in the month of May nearly every single year, save for a few dire circumstances. Most recently, the 2020 event was moved to September and ran without a crowd due to the COVID-19 pandemic, marking the first time since 1945 that the Preakness Stakes was moved outside of its usual month.

In 1890, the Preakness Stakes was temporarily held at Morris Park Racecourse in the Bronx, New York before failing to run in each of the next three years. When the race finally returned to action in 1894, it would jumpstart a 15-year stretch of hosting the Preakness at Gravesend Race Track on Coney Island, New York. The race eventually made its way back to Pimlico Race Course in 1909 and has successfully run in Baltimore ever since.

Fast forward to the present day, and the Preakness Stakes remains as popular as ever. As the second-biggest event in horse racing behind the Kentucky Derby, the Preakness Stakes consistently puts up absurd attendance numbers in comparison to other major events. In 2017, the race tallied its largest crowd in history with over 140,000 spectators on hand. For comparison, the 2022 Kentucky Derby clocked in around 147,000.

How the Preakness got its name

The race originally received its name courtesy of former Maryland governor Oden Bowie, who named it after a colt named Preakness. Preakness won the first ever race held at Pimlico Race Course on its opening day in 1870, known as the Dinner Party Stakes. Preakness may not have realized it at the time, but winning that race would forever cement the horse’s name in American history.

Preakness Stakes FAQs

Post was officially scheduled for May 20, 2023 at 7:05 pm ET and will be aired on both NBC and the NBC Sports App. The race will come and go before you know it, so tune in early and get excited!

The Preakness is held at Pimlico Race Course in Baltimore, Maryland.

Online horse wagering, including betting on the Preakness Stakes, is live and legal in upwards of 40 different states throughout the nation in some capacity. While each state carries its own specific rules and regulations, players residing in the following areas should have no trouble placing some legal online action on this year’s Preakness Stakes:

AL, AZ, AR, CA, CO, CT, DE, FL, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MT, NE, NV, NH, NJ, NM, NY, ND, OH, OK, OR, PA, RI, SD, TN, VT, VA, WA, WV, WI, & WY.

Yes you can! If you happen to reside in any of the states listed above, you can wager on the 2022 Preakness Stakes races by downloading any of the following apps or heading over to their desktop website: TVG, TwinSpires, AmWager, DRF, NYRA Bets, or 4NJBets. Scroll up for a full breakdown of which platforms are available in your state.

Yes you can! Each of the six platforms listed above, outside of NYRA Bets, is currently offering all new, first-time users an incredible welcome bonus just for creating an account! Check out the Preakness Stakes best offers explained section a little further up the page for complete details on each Preakness Stakes bonus offer, including links that will take you directly to the website or app to claim your offer!

The legal horse betting age will vary from state to state, but is typically 18 years or older. Some states do require bettors to be at least 21 years or older, although this is much less common.

So far the list of 2023 Preakness horses includes:

  • National Treasure
  • Chase the Chaos
  • Mage
  • Coffeewithchris
  • Red Route One
  • Perform
  • Blazing Sevens
  • First Mission

National Treasure won the 148th running of the Preakness Stakes.

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