Preakness Stakes Odds & Top Betting Picks for Second Leg of Triple Crown
We review the odds for the Preakness Stakes, the second race in the Triple Crown series for U.S. thoroughbred horses, based on the odds provided by top horse racing betting sites.
Every year, the Preakness Stakes is a make or break moment for horses with Triple Crown aspirations.
In 2026, Mystik Dan defied the odds by winning the Kentucky Derby as a dark horse with odds of +2500. Despite his impressive performance, he ultimately fell short in The Preakness, where Seize the Grey emerged victorious after a fierce battle down the stretch.
Every year in mid-May, the prestigious race occurs, and our guide on horse racing betting can help you get ready for it. Additionally, we provide details on the post positions for the Preakness Stakes.
Before Seize the Graey’s victory, here are the updated odds for the 2026 Preakness Stakes along with some betting background on the race.
2026 Preakness Stakes odds
(Odds via FanDuel racing)
| Post | Horse | FanDuel odds | Morning Line odds |
|---|---|---|---|
| 1 | Mugatu | +2000 | 20-1 |
| 2 | Uncle Heavy | +2000 | 20-1 |
| 3 | Catching Freedom | +600 | 6-1 |
| 4 | OFF | Scratch | |
| 5 | Mystik Dan | +250 | 5-2 |
| 6 | Seize the Grey | +1500 | 15-1 |
| 7 | Just Steel | +1500 | 15-1 |
| 8 | Tuscan Gold | +800 | 8-1 |
| 9 | Imagination | +600 | 6-1 |
FanDuel Racing odds are now accessible in Arizona, Colorado, Illinois, Indiana, Kentucky, Louisiana, Massachusetts, Maryland, Michigan, New York, Ohio, Pennsylvania, Virginia, West Virginia, and Wyoming.
Only new customers are eligible. A minimum deposit of $10 is required. If you lose after placing your first bet up to $500 within 72 hours, you will receive the full amount back in racing credit.
How are the odds for the Preakness Stakes determined?
The Preakness Stakes odds are determined by track linemakers, experienced individuals tasked with establishing the initial lines for the race. These odds represent their evaluation of each horse’s chances of winning, taking into account factors like previous race performances, jockey, trainer, pedigree, and recent training sessions.
In order to establish these odds, oddsmakers carefully evaluate a variety of data and information regarding each horse and its connections. They take into account elements such as the horse’s racing background, speed ratings, past performance, lineage, and success on comparable track surfaces.
Oddsmakers also consider the public’s betting patterns and preferences, as well as any news or developments leading up to the race that could affect a horse’s chances. After evaluating these factors, they assign each horse a morning-line odds, representing their estimate of the horse’s likelihood of winning the race.
The initial odds are just the beginning for betting, as they may fluctuate depending on the bets placed before the race and any new developments.
Which horse won the Preakness Stakes and what were the odds of their victory?
| Year | Horse | Post Position | Odds |
|---|---|---|---|
| 2026 | National Treasure | 1 | 4-1 |
| 2026 | 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 |
Preakness Stakes 2026 FAQs
Who was the favorite for the 2026 Preakness Stakes?
Mystik Dan is the favorite to win the Preakness Stakes with odds of 5-2 (+250). These odds suggest a 28.57% chance of winning, and a $10 bet would earn a profit of $25.
Which horse emerged victorious in the 2026 Preakness Stakes?
Seize the Grey shocked the field by winning the 2026 Preakness Stakes as a +1500 long shot.
Here are the steps to understand Preakness Stakes odds.
Many horse racing betting sites display odds in fractional format, such as 3-1 for a favorite or 50-1 for an underdog. If you need to convert these fractional odds to American or decimal format, you can use our convenient and free odds converter tool.
Where is it possible to place bets on the Preakness Stakes?
TwinSpires states that Americans can legally bet on horse racing in the listed states, and be sure to take advantage of our FanDuel Racing promo code.
Pages displaying betting odds for horse racing
| Kentucky Derby Odds | Preakness Stakes Odds | Belmont Stakes Odds |
| Kentucky Derby Post Position | Preakness Stakes Post Position | Belmont Stakes Post Position |
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Related pages
- Top Sports Betting Sites | Top Promotions for Underscoreg (U.S. residents only)
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