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2026 Preakness Stakes Long Shots with a Chance to Cash Big Ticket

by Spencer Toth - 5/13/2026

Preakness Stakes Long Shots

Who doesn’t love a good longshot? A stacked field of 14 horses at the 2026 Preakness Stakes means there is no shortage of longshots to choose from, and there are a few that stick out as potentially having value on Saturday night. Last year, Journalism broke a streak of five straight favorites losing in the Preakness Stakes, claiming victory as the closing favorite. This year, Iron Honor is the favorite with 9/2 odds, but there are three other horses not far behind at 5/1 odds. It’s a wide-open field at the Preakness Stakes, even with a clear top tier emerging, but that doesn’t mean a longshot can’t dash to the front of the pack. Here are the top three longshots to keep an eye on for Saturday night. 

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History of Longshots at the Preakness Stakes:
An interesting trend has developed at the Preakness Stakes over the last several decades. The outright favorites have been stumbling as of late, which has allowed the middle-of-the-pack horses to thrive. However, the biggest underdogs have still struggled, as it has been 50 consecutive years where the winner had odds of 15-1 or shorter. More than half the field is coming into the race with 15-1 odds or longer, meaning there could be value hidden at the bottom of the morning odds board. Looking for the right longshot can be an incredibly rewarding endeavor, and it is important to also sprinkle place and show bets. These payouts won’t be as long as their outright odds, but you will still make a pretty penny if your chosen horse finishes on the podium. 

Napoleon Solo: 8-1

Napoleon Solo is right on the edge of what we would consider a longshot, but since five other horses have shorter odds, I will sneak him in. This one is pretty straightforward. If Napoleon Solo can hold on to what will surely be an early lead, this is his race to lose. When looking for an underdog to take a shot with, finding a unique trait with a clear path to victory is the way to go. If your chosen horse is the third-fastest stalker in the race, even if things go to plan, they will still likely fall short. That is not the case for Napoleon Solo. No other horse can rival his early speed, and if this race gets choppy in the early stages, which is certainly possible, Napoleon Solo may just have enough energy to hold on for the win. He has two wins in four starts in his career, but the concerning thing is that both losses came in two-turn races. A crowded Preakness field may see the pace quicken in the early stages, which is why Napoleon Solo is where he is on the morning odds list, but there is still a very clear path to victory if things go his way. We saw during his Grade 1 win as a two-year-old what he can do. He won the Champagne Stakes not by a nose or a length, but by a full 6 1/2 lengths. This is the textbook example of a ‘boom or bust’ horse, which is exactly what you want with a longshot. For the other two horses, sprinkle on place and show bets too, but not here. Napoleon Solo will either storm to victory or finish off the podium, so swing for the fences with the outright win. 

The Hell We Did: 15-1

The Hell We Did currently has odds in the 15-1 range, but I could justify a bet on this horse at anything longer than 12-1 odds. First of all, this horse has never finished outside the top two places with two wins and two seconds in his four career starts. The straight-line speed he exhibits will allow him to be near the front of the pack in the early stages, as he cannot afford to fall behind early. Jockey Luis Saez prefers to race on horses that come out of the gates strong, and The Hell We Did may be the perfect match for his jockey style. His post position of 7 is also a favorable one, making these odds even harder to justify. In terms of straight-line speed, The Hell We Did has proven to be one of the fastest, and his deep pedigree of stamina-based horses could allow him to stay fast for longer at the Preakness Stakes. Trainer Todd Pletcher has a strong history in Triple Crown races, winning the Belmont Stakes on four occasions and the Kentucky Derby twice. He saved The Hell We Did for this race as he looks to complete a career Triple Crown.

However, the cons are just as obvious. While The Hell We Did’s strong career record is promising, he still only has four career races, and they weren’t against the strongest fields. Translating Grade 3 race wins to a Triple Crown race victory isn’t always straightforward. He also had his final work at Laurel interrupted by a riderless horse, but the team appears still confident he will stay focused and contend at the Preakness Stakes. Under other circumstances, The Hell We Did could be right up there with the 5/1 and 6/1 leading pack, making 15/1 odds a clear value play. 

Talkin: 20-1

We aren’t touching any of the horses in the 30-1 range, but we will take a small shot with Talkin to round out our longshot card. Talkin only has one win in his five career starts, but has routinely found himself right at the front of the pack in graded stakes. He finished second behind Napoleon Solo in the Champagne Stakes last year and finished third in the Blue Grass Stakes at Keeneland. He has been battle-tested, has a respectable record against other horses in this race, but hasn’t quite been able to get over the line. Talkin is a textbook stalker who doesn’t have the early or late speed needed to dash, but will always be right among the leaders. Additionally, scooping up jockey Irad Ortiz Jr. is a huge win, as Talkin is the type of horse who needs a steady approach to find himself with the leaders in the home stretch. He has the class and pedigree needed to compete with a solid jockey on his back, and is the perfect horse to add to your trifectas or superfectas. Talkin would need a miracle to win outright, but certainly has what it takes to finish just off the mark and still land on the podium. 

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