Preakness Stakes Odds 2026: Betting Favorites for Pimlico
The Preakness Stakes is one of the most significant sporting events of the spring. Next year's Preakness will take place in mid-May 2026 at Laurel Park. Preakness Stakes odds will be made available in the weeks leading up to the race.
You can prepare for "The Run for the Black-Eyed Susans" with our guide on how to bet on horse racing. We also outline the Preakness Stakes post positions.
📊Preakness Stakes odds
Preakness Stakes odds for the 2026 race at Laurel Park will be made available at FanDuel Racing in May of 2026.
Here is a look at what Preakness odds looked like heading into this year's race.
| Post Position | Horse | Preakness Odds |
|---|---|---|
| 1. | Goal Oriented | 6-1 |
| 2. | Journalism | 8-5 |
| 3. | American Promise | 15-1 |
| 4. | Heart of Honor | 12-1 |
| 5. | Pay Billy | 20-1 |
| 6. | River Thames | 9-2 |
| 7. | Sandman | 4-1 |
| 8. | Clever Again | 5-1 |
| 9. | Gosger | 20-1 |
Here are what opening Preakness Stakes odds for this year's race looked like immediately after the draw.
- Journalism (8-5)
- Sandman (4-1)
- River Thames (9-2)
- Clever Again (5-1)
- Goal Oriented (6-1)
- Heart of Honor (12-1)
- American Promise (15-1)
- Pay Billy (20-1)
- Gosger (20-1)
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🔮 Preakness Stakes expert picks
Preakness betting favorites
Here is a look at some of the betting favorites for this year's Preakness Stakes.
Journalism (8-5)
Journalism is fresh off a second-place finish at the Kentucky Derby. The Michael McCarthy horse won’t have to deal with Sovereignty, the Derby winner, this time out as Sovereignty is electing to skip the Preakness. Journalism's sire is Curlin, who won the Preakness back in 2007.
River Thames (9-2)
River Thames drew the most advantageous post at No. 6. The Todd Pletcher horse has more than showed that he can hang with the big boys. After winning his first two starts, he nearly took down Sovereignty and Burnham Square in separate races.
Sandman (4-1)
Sandman finished a disappointing seventh in the field of 19 at the Derby, but is back as a betting favorite for the Preakness. The Mark E. Casse colt displayed tremendous finishing power in his victory at the Arkansas Derby back on March 29.
💡How are Preakness Stakes odds made?
Preakness Stakes odds are made by track linemakers, who are experts responsible for setting the initial lines for the race. These odds reflect their assessment of each horse's likelihood of winning based on various factors such as past performances in other races, jockey, trainer, breeding, and recent workouts.
To create these odds, oddsmakers analyze a wide range of data and information about each horse and its connections. They consider factors like the horse's racing history, speed figures, performance in previous races, pedigree, and how well it has fared on similar track conditions.
Additionally, oddsmakers take into account the betting patterns and preferences of the public, as well as any news or developments leading up to the race that could impact a horse's chances. Once they have evaluated all these factors, they assign each horse morning-line odds, which is their estimate of the horse's probability of winning the race.
These initial odds serve as a starting point for betting, but the lines can change based on the betting action leading up to the race and any new information that emerges.
📜Preakness Stakes betting odds history
Here is a look at Preakness Stakes betting odds history, along with post position for the winning horses.
| Year | Horse | Post Position | Odds |
|---|---|---|---|
| 2025 | Journalism | 2 | Even |
| 2024 | Seize the Grey | 6 | 15-1 |
| 2023 | National Treasure | 1 | 4-1 |
| 2022 | Early Voting | 5 | 5-1 |
| 2021 | Rombauer | 6 | 12-1 |
| 2020 | Swiss Skydiver | 4 | 11-1 |
| 2019 | War of Will | 1 | 4-1 |
| 2018 | Justify | 7 | 1-2 |
| 2017 | Cloud Computing | 2 | 12-1 |
| 2016 | Exaggerator | 5 | 3-1 |
| 2015 | American Pharoah | 1 | 4-5 |
| 2014 | California Chrome | 3 | 3-5 |
🔎 How to read Preakness Stakes odds
A crucial step to betting on the Preakness Stakes is understanding how the odds work. Put simply, American odds represent how much money you would win on a $100 wager - or, in some cases, how much money you would need to wager to return $100.
Let's refer to an example. Seize the Grey closed with +1500 odds to win last year's Preakness Stakes. That means a winning $100 bet at those odds would return $1500 in profit, or a $10 bet would return $150, or even $1 for a $15 return.
According to our odds converter, he was getting only a 6.25% implied probability of winning the prestigious race.
Mystik Dan finished with +250 odds, which carried an implied 28.57% win percentage. A $100 wager would get you $250 if he won. Despite being seen as more likely to win according to the odds, we know he didn't win the race.
You'll want to be careful staking too much on long-shot bets, as the low implied win probabilities indicate the unlikelihood of a victory.
🗓️Preakness Stakes 2026 info
- Date: May 2026
- Location: Laurel Park, Baltimore
- Race Distance: 1 3/16 miles
- Purse: TBD ($2 million last year)
- TV: NBC
❓Preakness Stakes FAQs
Who is the 2025 Preakness Stakes favorite?
Journalism, 8-5, opened as the betting favorite to win the Preakness Stakes at FanDuel Racing following the post position draw.
Who won last year's Preakness Stakes?
Seize the Grey took last year's Preakness Stakes after entering as a +1500 long shot.
When is the 2025 Preakness Stakes held?
The 2025 edition of the Preakness Stakes will take place on Saturday, May 17.
Where is the 2025 Preakness Stakes held?
The Preakness Stakes is held annually at Pimlico Race Course in Baltimore.
Where can I bet on the Preakness Stakes?
Americans can legally wager on horse racing in the following states.
Horse racing betting odds pages
| Kentucky Derby Odds | Preakness Stakes Odds | Belmont Stakes Odds |
| Kentucky Derby Post Position | Preakness Stakes Post Position | Belmont Stakes Post Position |
💵 Best Preakness Stakes betting sites
Want to bet on the Preakness Stakes? Here are the best horse racing betting sites and the best sportsbook promos for Saturday's race:
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