5 Things To Keep In Mind When Betting For 2022 Preakness Stakes

preakness stakes betting tips

One of the biggest events for horse racing fans is just around the corner. Preakness Stakes is back for its annual event with new sets of runners. With horse racing fans all excited for this huge event, there are a few things you need to remember to get you all settled in!

Preakness Stakes

What Is The Preakness Stakes?

Preakness Stakes is the second horse racing event that a horse can win to be declared the Triple Crown winner. All thoroughbred horses are welcome to join, but the event attracts the winner and other runners from the Kentucky Derby. This classic contest is held annually every third Saturday of May in Baltimore, Maryland.

There are a few things you want to remember when the Preakness Stakes come! Here is a a few things you should remember.

Prepare Your Bets

When betting on a horse racing competition like the Preakness Stakes, you must enter the event fully aware of your cards. It means you must prepare your bets and who you want to bet on. 

It is a crucial step in ensuring that you are in a clear mind to have fun and enjoy the game with less anxiety. It will help if you prepare your betting guide for this year preakness stakes and look into the different types of bets that you can wager on for starters.

Straight Bets

Straight bets are considered simple bets. Unlike other options, the straight bets are based on a single outcome where you will only need to bet on a single horse.

  • Win. This type of straight bet requires you to bet on a horse that you think would win the Preakness Stakes. To earn, they must be in the first place, or you lose your wager.
  • Place. The place wagers will need you to bet on a single horse to either rank first or second in the Preakness Stakes.
  • Show. To win the show straight bet, your wagered horse must finish third in higher ranks like second or first. The payout might be less on this wager, but it is a safe bet for straights.

Exotic Bets

The difference between exotic and straight bets is that the former allows you to wager on multiple outcomes. The order and places of your bet must be in the correct order, or you lose your money.

  • Exacta. This exotic bet requires you to choose two horses to complete in the first and second rank in exact order.
  • Trifecta. Trifecta needs you to select three horses to finish in first, second, and third place in exact order.
  • Superfecta. Superfecta requires you to bet on four horses to win the first to fourth places in exact order.

Get To Know The Contenders

The Preakness Stakes takes place after the Kentucky Derby. So, the horses that will run for the latter usually run for this event. So, you can expect your Kentucky Derby favorites to be present in the Preakness Stakes. However, there are instances where horses skip the Kentucky Derby and head straight to the Preakness Stakes. For this year, here is the list of possible contenders for the 2022 Preakness Stakes:


Blackadder won over ten other horses during the El Camino Real Derby, which has become his ticket for this year’s Preakness Stakes. This dark bay colt will run for the event with his jockey, Florent Geroux.

Crowded Trade

Racing fans are talking about Crowded Trade’s run for the 2022 Preakness Stakes. With Chad C. Brown as his trainer, nothing will be impossible. Coming in third place last year, this year can be a huge chance for this chestnut colt to own the first place.


Rombauer is a bay colt that Michael W. McCarthy trains. He will also be running for the 2022 Preakness Stakes together. Moreover, his record shows that he already had eight starts so far, where he won three times and was in second place one time. 

Get a Sportsbook

After you have decided on your bets and your horses, the next you need to prepare is the sportsbook. The sportsbook is a company that caters to punters that bet on sporting events. They are also the ones that provide winnings to the winners. Some sportsbooks also offer in-depth analysis of the horse racing event to help you decide on your wager. Sometimes, they provide live streams to the members that can not make it to the event.

Understand The Odds 

The next thing you must remember is the odds. You can usually easily watch the odds of the contenders on your favorite sportsbook. They can change relatively quickly, and sometimes it changes drastically. So understanding the odds will help you in betting the right horse. In other words, it shows you the probability of a particular event happening.

Final Thoughts

The Preakness Stakes is not only important to horses but also horse racing fans. This event only comes once a year. So, a lot of them are preparing for it. If you are still unsure and unprepared, head to the Preakness Stakes, better equipped with the guide above!