2026 Preakness Stakes Wagering Strategies and Expert Advice

by Spencer Toth - 5/14/2026

The 2026 Preakness Stakes is set to go down this weekend, and there are a wide variety of betting strategies you can deploy. A full 14-horse field is expected to run this weekend, for the first time since 2011. This gives us even more ways to attack the runners, and also makes following a concrete game plan all the more important. The pari-mutuel odds system means you are not just trying to beat the sportsbook. You are trying to be sharper than the rest of the betting public. Luckily for us, the Preakness Stakes will have no shortage of action two weeks after the Kentucky Derby, and I don’t mind sharing the tips and tricks that have kept me ahead of the chasing pack over the years. Just because Kentucky Derby winner Golden Tempo isn’t racing doesn’t mean there isn’t money to be made ahead of this race. Before making any picks, here are a few strategies to keep in mind.

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Keep it Simple:
Everyone loves the idea of nailing a trifecta or superfecta, but the reality is that these are nothing more than lottery tickets. If the Preakness field were smaller like in previous years, sprinkling on some exotic bets can be justified. However, a 14-horse field with more than half of the runners coming in with double-digit odds means that there is still plenty of money to be made elsewhere. It can be easy to get sucked into the potentially massive rewards, but more often than not, you will be left with empty pockets if you put the majority of your bankroll on what are essentially same game parlays.

Instead, look for bets not only to win, but to place or show as well. If you think a longshot will have a strong race, but may not pull off the outright upset, you can still get fantastic odds on them to finish in the top two or top three at the Preakness Stakes. By spreading your bets on a few horses to finish on the podium, it only takes one strong showing to get yourself in the green. If you want to punt away a dollar or two on a big box superfecta, be my guest, but make sure you fully understand that it will turn into a losing ticket a very high percentage of the time, and that a large majority of your bankroll should be placed on straight bets.

Avoid the Kentucky Derby:
It can be easy to think that whichever horses did well in the Kentucky Derby will automatically do well in the Preakness Stakes two weeks later. However, that is not the case. Journalism won the Preakness Stakes last year after coming second in the Derby, but he snapped a streak of five straight Preakness Stakes winners who sat out the big race. Chad Brown did not race the morning line favorite, Iron Honor, in the Kentucky Derby to prepare him for this race. Fatigue is a real concern for these horses, and they will need to be at their very best to win the Preakness Stakes. This year, Ocelli (3rd), Incredibolt (6th), and Robusta (14th) are the three horses racing this weekend who also raced in the Kentucky Derby. Ocelli especially needed to empty the gas tank to stay on the podium. The added bonus of avoiding these horses is that they are familiar names among the casual horse racing community. Many casual bettors only tune into the Triple Crown races and will automatically assume that a Kentucky Derby runner will thrive in the Preakness Stakes. The pari-mutuel odds system will allow us to take advantage of this.

Watch Weather and Track Conditions:
Weather and track conditions always play a huge role in horse racing, but even more so with a venue change for the 2026 Preakness Stakes. Instead of being at Pimlico Race Course in Baltimore, the race is at Laurel Park in Laurel, Maryland. The race track will be crowded with a full 14-horse field, which means early traffic, kickback, and positioning become even more important. If the track turns sloppy, that could be the chaos a live underdog needs to outrun their odds. As of now, the weather looks good in Laurel for Saturday, but it doesn’t take much rain to dramatically change the track conditions. The Laurel Park racetrack is known for its comebacks thanks to a hard surface, making the ground a critical factor to keep in mind when making bets.

Wait Until Race Day to Make Bets:
Due to the pari-mutuel odds system, there is no benefit in locking in your picks now compared to hours before the race. The numbers can shift dramatically as more money hits the table, potentially making a longshot you liked no longer worth the risk if their odds drop. Since we aren’t using a fixed odds system, you won’t lose any value, and your wager will follow the line movement right until the race begins. Weather, withdrawals, and dramatic action on any horse can all affect the odds, and you will be rewarded for your patience if you wait to see how the race develops.
Be Wary of Longshots:
There hasn’t been a horse with odds longer than 15-1 to win the Preakness Stakes in the last 50 years. End of story. The large field this year means there are a handful of horses with odds longer than that mark, so be very wary when taking any of them to win outright. Instead, taking the longshots you like to place or to show is a great way to minimize your risk while still locking in solid upside if an underdog has a strong race. It is unlikely that each of the contenders will stumble in the top-heavy field at the Preakness Stakes, and clean track conditions make it even harder for an underdog to burst through.

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Start:	May 14, 2026 @ 7:30 PM
Expert:	Tony George
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2026 Preakness Stakes Wagering Strategies and Expert Advice

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