Preakness Stakes 2026 Odds: How to Bet on the Preakness Stakes

Preakness Stakes 2026 Odds: How to Bet on the Preakness Stakes

The 2026 Preakness Stakes - the 151st running of the second jewel of the Triple Crown - takes place on Saturday, May 16, 2026, at Laurel Park, with post time scheduled for 6:50 p.m. ET.

The Preakness is one of the biggest betting events of the year, drawing massive handle and national attention just two weeks after the Kentucky Derby.

If you’re looking to bet on the Preakness Stakes, you’ll need to use a legal horse racing app, not a traditional sportsbook. Horse racing is regulated separately from sports betting, meaning platforms like DraftKings, FanDuel, and BetMGM require standalone racing apps for pari‑mutuel wagering.

Below, we break down the best legal racing apps, the top sportsbook bonuses you can claim alongside them, the latest Preakness odds, and a full guide on how to bet the Preakness Stakes.

Best Legal Horse Racing Apps for the 2026 Preakness Stakes

Below are the top racebooks available in legal states - plus the sportsbook promos you can claim alongside them.

1. DK Horse (DraftKings)

Where It’s Available

DK Horse is available in many racing‑legal states and will remain active until DraftKings Racing fully replaces it state‑by‑state.

What It Offers

• Full pari‑mutuel wagering
• Live odds, replays, and Preakness betting
• Standalone app (separate from DraftKings Sportsbook)

Better Value: DraftKings Sportsbook Promo

Even though it cannot be used on horse racing, the sportsbook offer is far stronger:

DraftKings Promo Code: Bet $5, Get $100 Instantly

How to claim:

1. CLICK HERE or visit DraftKings
2. Deposit $5+
3. Bet $5 on any sports market
4. Get $100 in Bonus Bets instantly

You’ll still need DK Horse to bet the Preakness Stakes.

Where Is DraftKings Racing Legal?

As of April 2026, DraftKings Racing is live in nine states. DraftKings Racing uses a shared wallet with DraftKings Sportsbook, meaning you can move between sports betting and horse racing seamlessly in these states.

• Delaware
• New Mexico
• Rhode Island
• Florida
• Louisiana
• Montana
• New Hampshire
• Ohio
• Oregon

In other states where horse racing is available, users will have to use the DK Horse platform.

2. FanDuel Racing

Where It’s Available

FanDuel Racing is live in 30+ states, including: Arizona, Colorado, Connecticut, Iowa, Illinois, Indiana, Kentucky, Louisiana, Massachusetts, Michigan, New York, Ohio, Pennsylvania, Virginia, West Virginia, Wyoming, and more.

What It Offers

• Full Preakness wagering
• Live streaming
• Shared wallet with FanDuel Sportsbook
• Beginner‑friendly interface

FanDuel Racing Welcome Offer

Bet $5, Get $25 Racing Bonus

Better Value: FanDuel Sportsbook Promo

Bet $5, Get $250 (If Your Bet Wins)

How to claim:

1. CLICK HERE or visit FanDuel
2. Deposit $5
3. Bet $5
4. If it wins → get $250 in Bonus Bets

Sportsbook Bonus Bets cannot be used on racing.

3. TwinSpires

TwinSpires is the official wagering platform of Churchill Downs and one of the most trusted places to bet the Preakness.

Where It’s Available

TwinSpires operates in most racing‑legal states.

TwinSpires Welcome Offer

• CLICK HERE to Earn $100 bonus for every $400 wagered
• Up to $200 total
• Must wager $800 within 30 days

2026 Preakness Stakes Odds

Here are the latest Preakness 151 odds:

• Incredibolt +500
• Iron Honor +500
• Taj Mahal +500
• Chip Honcho +600
• Ocelli +600
• Napoleon Solo +1000
• Talkin +1400
• Great White +2000
• The Hell We Did +2500
• Corona De Oro +2500
• Pretty Boy Miah +2500
• Robusta +4000
• Bull By The Horns +5000
• Crupper +5000

How to Bet on the Preakness Stakes (Win, Place, Show & Exotics)

All major racing apps offer the same bet types:

Win, Place, Show

• Win: Horse must finish 1st
• Place: 1st or 2nd
• Show: 1st, 2nd, or 3rd

Exotics

• Exacta: Top 2 in order
• Trifecta: Top 3 in order
• Superfecta: Top 4 in order (Boxed and keyed versions available)

Multi‑Race Bets

• Daily Double
• Pick 3
• Pick 4
• Pick 5
• Pick 6

These can produce massive Preakness Day payouts.

Where Is Online Horse Racing Betting Legal in the U.S.?

Online horse racing betting is legal in most states, but not all. Here is the full list:

• Alabama
• Arkansas
• Arizona
• California
• Colorado
• Connecticut
• Delaware
• Florida
• Idaho
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Louisiana
• Maryland
• Massachusetts
• Michigan
• Minnesota
• Missouri
• Montana
• Nebraska
• New Hampshire
• New Jersey
• New Mexico
• New York
• North Dakota
• Ohio
• Oklahoma
• Oregon
• Pennsylvania
• Rhode Island
• South Dakota
• Tennessee
• Vermont
• Virginia
• Washington
• West Virginia
• Wisconsin
• Wyoming

How to Watch the 2026 Preakness Stakes

You can watch the Preakness on:

• NBC
• Peacock

Post Time: 6:50 p.m. ET Date: Saturday, May 16, 2026 Location: Laurel Park

Best Way to Bet the Preakness Stakes 2026

If you want to bet the Preakness itself, you must use a horse racing app such as:

• DK Horse
• FanDuel Racing
• TwinSpires

However, if you want the best welcome bonuses, the sportsbook promos offer far more value:

• DraftKings: Bet $5, Get $100 Instantly
• FanDuel: Bet $5, Get $250 (If Your Bet Wins)

You can claim these bonuses while still using a racing app to place your Preakness wagers.