Preakness Stakes Betting Guide
The 151st running of the Preakness Stakes took place at Laurel Park in Maryland on Saturday, May 16th. The 1 3/16-mile dirt race on the third Saturday in May is named after the horse who won the Dinner Party Stakes on the first day Pimlico was ever open.
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Now the second jewel of the American Triple Crown, the race is open to leading three-year-old colts, geldings, and fillies.
Preakness Stakes Field
The Preakness Stakes field began to take shape after Golden Tempo produced a stirring late run to win the Kentucky Derby at Churchill Downs. However, the Derby winner did not continue on to the Preakness, with connections instead choosing to give the colt more time and point toward the Belmont Stakes.
The final, official field was drawn on Monday, May 11 by racing officials. The morning-line Preakness Stakes odds were also released during the draw ceremony. The field featured 14 horses, making it the largest Preakness field since 2011. With Golden Tempo absent, the race became a wide-open renewal of the second jewel of the Triple Crown.
This is the field for the 2026 Preakness Stakes including post positions, jockeys, trainers, and morning-line odds for each horse.
| Post | Horse | Trainer | Jockey | ML |
|---|---|---|---|---|
| 1 | Taj Mahal | Brittany Russell | Sheldon Russell | 5-1 |
| 2 | Ocelli | Whit Beckman | Tyler Gaffalione | 6-1 |
| 3 | Crupper | Donnie Von Hemel | Junior Alvarado | 30-1 |
| 4 | Robusta | Doug O’Neill | Rafael Bejarano | 30-1 |
| 5 | Talkin | Danny Gargan | Irad Ortiz Jr. | 20-1 |
| 6 | Chip Honcho | Steve Asmussen | Jose Ortiz | 5-1 |
| 7 | The Hell We Did | Todd Fincher | Luis Saez | 15-1 |
| 8 | Bull By The Horns | Saffie Joseph Jr. | Micah Husbands | 30-1 |
| 9 | Iron Honor | Chad Brown | Flavien Prat | 9-2 |
| 10 | Napoleon Solo | Chad Summers | Paco Lopez | 8-1 |
| 11 | Corona de Oro | Dallas Stewart | John Velazquez | 30-1 |
| 12 | Incredibolt | Riley Mott | Jaime Torres | 5-1 |
| 13 | Great White | John Ennis | Alex Achard | 15-1 |
| 14 | Pretty Boy Miah | Jeremiah Englehart | Ricardo Santana Jr. | 15-1 |
Note that the morning-line odds are not final Preakness Stakes odds, but rather an educated forecast of what the betting board will look like. Because of the pari-mutuel system, final odds are based on the actual action on each horse. By post time, Taj Mahal had taken strong support, while Iron Honor, Incredibolt, Ocelli, and Napoleon Solo all remained popular in a competitive market.
One of the great things about Preakness Stakes betting is that you can track live Preakness odds through race day. Check the odds at your preferred licensed horse racing betting site, see how the prices move, and be ready to make informed betting decisions.
Our quick guide can help you get the most out of Maryland’s biggest event. The 2026 Preakness produced a memorable result, with Napoleon Solo taking command entering the stretch and holding off Iron Honor to win the 151st running. Chip Honcho finished third, while Ocelli ran fourth after coming back from the Kentucky Derby. It was a big result for trainer Chad Summers and jockey Paco Lopez, both of whom earned their first Triple Crown race victory.
What Sort of Bets Can I Place on the Preakness?
With all the various combinations of wagers, you have many choices for how to bet on the second leg of the Triple Crown. Those choices include straight bets as well as exotics. It pays to consider them all and then select based on your bankroll, your risk tolerance, and your opinions on horses in the race.
Straight Bet Options
Most horseplayers, experienced and novices alike, tend to keep things simple by wagering on the nose with a Preakness Stakes win bet. As long as you are confident in your horse, and you are getting odds as good as your assessment of their actual win chances, this is an excellent bet to make. After all, your fortunes will be tied in your one strong opinion: that your pick will be the winning horse of the Preakness Stakes.
If you want to go for a little insurance instead, you can opt for a smaller payout by betting your runner to place or show. Place bets mean your runner needs to finish in the first two, while show betting covers the first three.
Preakness Exotic Wagers
Taking your chances on a big win in the Preakness is possible with exotic bets that predict which top horses finish in order. You can bet on an exacta - top two horses to finish in order, trifectas - top three to finish in order, and superfectas - top four horses to finish in order.
There are tons of Preakness Stakes exotic bet opportunities out there. Additionally, many licensed betting sites offer new customers promotional offers for racing. As always, make sure to check the terms and conditions of any promotion and all your local laws and regulations before placing any bet.
Why Bet on the Preakness?
There is no obligation to bet on horse racing to enjoy it, but betting and thoroughbred racing have been linked since the sport began. Many believe that placing a wager on the Preakness makes the race much more enjoyable.
Most of us won’t be able to be at the track to see this Triple Crown race play out, and most of us are not lucky enough to own a horse fast enough to make it to the Preakness. When enjoying the race from a distance, the best way to feel fully invested in the race is to place a bet and cheer on your horse to win.
Betting on this historic horse race event can be done from thousands of miles away, so no matter where you are, you can follow the 151st Preakness Stakes and enjoy one of the biggest days on the American horse racing calendar.
Who Are the Leading Contenders?
The lineup for the Preakness Stakes was made up of (17) 14 horses, most of which were coming off the Kentucky Derby trail, based in Maryland, or improving 3-year-olds with a shot at a Grade 1 breakthrough effort. Although there was not a Triple Crown bid in this race, due to Golden Tempo (Kentucky Derby winner) skipping it, there was an open betting angle (from the betting perspective).
Iron Honor was the morning line favorite (with respect to most people's opinions & odds) and had an excellent connection (as of this morning) to this race. Trainer Chad Brown won the Preakness Stakes in 2017 with Cloud Computing and in 2022 with Early Voting and was following a similar path, as Iron Honor also skipped the Kentucky Derby after training in New York.
Taj Mahal received significant attention as well, as he had not lost in his first three lifetime races, and had the advantageous edge of winning at Laurel Park already. Additionally, he had already won the Federico Tesio Stakes, which established him as one of the leading local candidates. As if that were not enough, trainer Brittany Russell and jockey Sheldon Russell both contribute to the very strong Maryland connections on this horse.
Ocelli was the most notable runner coming back from the Kentucky Derby. He had finished third at Churchill Downs at huge odds and was expected to be doing his best work late again in the Preakness. Incredibolt and Robusta also returned from the Derby, though neither was able to make the same impact in the second jewel of the Triple Crown.
Preakness Stakes Betting Favorites
Without Golden Tempo in the Preakness betting pool, the market was much more open and varied than it would have been with the Derby winner present. Iron Honor, the 9-2 favorite, was a deserved favorite due to his previous wins at the Gotham Stakes and from an experienced trainer that has prepped horses many times before for the Preakness after getting them to AR in fine shape.
Another potential favorite was Taj Mahal. He has never finished lower than first prior to running in the Preakness and has competed in all of his races at Laurel Park, which factors in heavily with the race leaving its traditional venue, Pimlico in 2021. Taj Mahal also runs forward, therefore, his early lead prior to fading late made him an even bigger threat.
Incredibolt was another who would have solid wagering with finishing 6th in KY Derby. He already showed good enough form with his first place finish at the Virginia Derby that when partnered with Jaime Torres, who knows how to produce a winning mount, his chances of victory will be great. Torres won the Preakness aboard Seize The Grey in 2024.
Napoleon Solo was not the shortest price on the board, but he had back class that made him dangerous. He had looked impressive as a two-year-old when winning the Champagne Stakes, even if his early three-year-old form had not been as strong. In the Preakness, he returned to that better version of himself, moved strongly into the race, and finished best of all to beat Iron Honor.
Promising New Faces in the Preakness Stakes
The last few iterations of the Preakness Stakes have shown that non-Kentucky Derby winners can have high entertainment value through event wagering. As history has shown, the winner does not consistently line up against prior Derby runners, and the Preakness brings many new competitors, local horses, and potentially new starters to try to compete again after spring's preps.
Chad Brown had another serious weapon at the Preakness in Iron Honor. Previously, Chad proved with both Cloud Computing and Early Voting that a horse can bypass the Kentucky Derby and return strong for the second jewel of the Triple Crown. While Iron Honor didn't win the Preakness, he ran strongly following a determined late-race attempt to pass other horses, and ultimately finished second.
Napoleon Solo was the new contender with an impact. After finishing fifth twice earlier in the spring, he returned to form at precisely the right moment under trainer Chad Summers and jockey Paco Lopez, as his late move up the stretch became decisive in ultimately winning the 2026 Preakness Stakes.
Another prominent contender was Taj Mahal, who came into the race with an unblemished record and had previously won three times at Laurel Park. The conditions appeared to favor this horse, since most of the other entrants had never previously raced over the surface. While he had early pace and was backed heavily, the Grade 1 competition was much more difficult than in his three prior races.
Chip Honcho was also a horse you should pay special attention too. Trained by Steve Asmussen, Chip Honcho remained close enough to the early pace to keep his chance for a good placing and finished third here. While he did not win, he provided value for exotic bettors and substantiated his prior form from the Louisiana Derby placed him as a viable option at this class level.
Preakness Stakes Longshots
Though Napoleon Solo finished fifth in both the Fountain of Youth and Wood Memorial, he was still thought of as a less-than-typical longshot before the Preakness because of the quality of his juvenile form and therefore could be expected to rise up to the occasion. Those who would have ignored those two defeats were more than pleased with his performance in the stretch when he surged ahead and held off Iron Honor.
Another horse that created some intrigue is Ocelli...having not won a race before the Preakness, he presented a problem for handicappers because of his lack of value as a horse likely to win...however, after finishing third in the Derby, he showed ability by passing horses late against tough competition. Running a solid effort and finishing fourth in the Preakness made him a valuable horse for any exotic wagers.
The Hell We Did also appealed to gamblers who were not just betting on the general favourite. He had previously run two eyecatching races, one of which he won at Sunland Park and the other was a runner-up finish to the eventual winner of the Lexington Stakes at Keeneland. His style of running suggested he would sit just off the pace and make one run for home. Unfortunately, there was not enough pace in the race for him to finish in the top three.
Bull By The Horns was another horse with a decent chance of upsetting the odds. He came into the race off an impressive victory in the Rushaway Stakes and also provided a late run style which would only be effective if the leaders went out fast. Although Bull By The Horns did not receive the trip needed to be successful, his running style was enough of a reason to believe he could have an upset.
Great White had a very compelling story leading into the Preakness Stakes. He was previously scratched from the Kentucky Derby after having an incident at the starting gate, but was planning on returning to the Preakness. He has very little recent success to fall back on, but the open nature of the 2026 Preakness should entice those players who are looking for big returns.
The initial run by Robusta was reasonable (he did produce a 1st in a race prior to this one) and his trainer (Doug O'Neill) had experience getting horses ready for this type of race. However, he needed to do something very special on Saturday to prove that he could match the other runners in this year’s Preakness, especially with a slower than comfortable February 2024 Derby finish.
Many of the other horses in the current Preakness field, as seen above, were also great talents as well (i.e., Mugatu, Muth, Mystik Dan, Catching Freedom, Tuscan Gold, Just Steel, Uncle Heavy, and Imagination) but we will not be seeing them compete in this year’s event. Instead, the 2026 Preakness will feature some combination of Napoleon Solo, Iron Honor, Chip Honcho, Ocelli, and the other horses that competed at Laurel Park in 14 total races on that day.
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