2024 Preakness Stakes Betting Preview: Live Odds and 3 Best Bets

It’s horse racing season, and we are here for it! The 2024 Kentucky Derby provided one of the most exciting finishes in horse racing history, and we certainly hope the Preakness is also an event to behold. The Triple Crown events continue to have a great fan turnout, but one thing that has especially emerged in recent years is the ability to bet on the races.

It doesn’t matter if people are at the racetrack itself, or thousands of miles from the event site, horse racing is still one of the most popular events to bet on of the year. With that in mind, we had to throw our favorite betting picks together, hoping to hit it big with the winning horse. Let’s get into it!

Kentucky Derby winner MYSTIK DAN heads to the Pimlico track this morning to prepare for the $2M Preakness Stakes (G1) on Saturday. pic.twitter.com/8wPdiDOXFd

— FanDuel Racing (Formerly TVG) (@FanDuel_Racing) May 15, 2024

Mystik Dan (Current Odds are 5-2)

We had to talk about the reigning Kentucky Derby winner here first. There have been seven Kentucky Derby winners to also take home the Preakness title in the past 25 years, so it wouldn’t make sense for us to not talk about Mystik Dan.

Many of the top experts are fading this horse/jockey combo, but with an opportunity to get Mystik Dan at these odds, it’s certainly worth a sprinkle, at least.

Catching Freedom (Current Odds are 6-1)

We are really high on Catching Freedom coming into this year’s Preakness. There’s a reason these odds are 6-1, and that’s mainly due to the fantastic performance that Catching Freedom put on at the Kentucky Derby.

This horse finished in fourth place during this photo-finish event, and we’re expecting big things out from them during this year’s Preakness.

Uncle Heavy (Current Odds are 20-1)

Now that we’ve covered some of the big dogs (well, horses, we guess), it’s time to talk about an underdog. It’s generally a good idea to bet on at least one underdog, as they can provide a great ROI if they surprise the world and win an event like Preakness or the Kentucky Derby.

We’re hitching our wagon to Uncle Heavy, and it’s not just because this horse has a cool name. Uncle Heavy has performed well in their last three races, taking 5th at the 2024 Wood Memorial, and winning the 2024 Withers and the 2023 Wait For It.

Uncle Heavy has proven to win some marquee races, and what better time than Preakness to pull off a huge victory?