How Much Can You Win when You Place Preakness Stakes Bets Online?

Each year, thousands of people place Preakness Stakes bets online. While this leg of the US Triple Crown contest isn't as popular as the first competition in the series, it still generates quite an audience and offers the chance to earn an attractive profit on a relatively small wager. Held on the third Saturday of May at Pimlico Race Course in Baltimore, the Preakness takes place two weeks after the Kentucky Derby and three weeks before the final Triple Crown race, known as Belmont Stakes. The 1 and 3/16 mile run is open to just 14 horses per year and was first held in 1873.

Over the years, hundreds of thoroughbreds have competed for the blanket of yellow flowers, including several fillies. Fillies typically win about 2.5% of Triple Crown events and five have claimed the Preakness purse since its inception. Rachel Alexandra was the most recent female winner, earning the title in 2009 after 85 years of male champions. Horse racing fans who placed their money on this 13th position filly were rewarded with a payout of almost three times their wager, but the return was a bit below average for Preakness Stakes bets and much less than the profits Kentucky Derby bettors typically earn. Since 2000, individuals have gained an average of $34.10 when they place $2 on a Derby winner, while a $2 wager on the Preakness champ usually returns about a third of that.

In 1986, Snow Chief gave his supporters one of the best payouts seen in the second leg competition after he ruined Derby winner, Ferdinand's chances at the Crown. Snow Chief finished four lengths ahead of Ferdinand but did not go on to compete in the final event of the series. Bernardini excited fans in 2006 when he finished 5 ΒΌ lengths ahead of the runner up and provided a payoff of $27.80 to those who chose him. The 2011 winner, Shackleford, returned $27.20 on a $2 wager when he collected the largest purse in the event's history, totaling $1.55 million. Placing Preakness Stakes bets online may not be as profitable as wagering on the Kentucky Derby, but this Triple Crown championship still has the potential to generate an attractive profit.