Bet On The 2023 Preakness Stakes – Odds and Picks

The 2023 Preakness Stakes will take place this Saturday, May 20th at Pimlico Race Course.

Mage will enter the Preakness Stakes as the favorite after his win in the Kentucky Derby. Mage will look to get the win in this field of 8 horses and have a shot at the Triple Crown at the Belmont Stakes in June.

First, let’s take a look at Mage’s Kentucky Derby winning performance and then we will get into my Preakness picks.

In this article, I’ll look at the morning line odds for the Preakness Stakes and also give you a step by step guide to betting on the Preakness Stakes this year.

Where To Bet On Preakness Stakes

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2023 Preakness Stakes Odds

Here are the morning line odds and post positions for the Preakness Stakes.  These odds will change throughout race day depending on the amount of money wagered on each horse.

  1. National Treasure 4-1
  2. Chase The Chaos 50-1
  3. Mage 8-5
  4. Coffeewithchris 20-1
  5. Red Route One 10-1
  6. Perform 15-1
  7. Blazing Sevens 6-1
  8. First Mission 5-2

As you can see Mage is the significant favorite to win the race at odds of 8-5, while First Mission (5-2) and National Treasure (4-1) are the other two top contenders.

My Pick

I like Mage to win the Preakness at odds of 8-5. Mage flew under the radar leading into the Kentucky Derby because he didn’t win either of his tune up races in March or April. That said, Forte, who was the Derby favorite prior to being pulled from the Derby the morning of the race, won both of those races, and he just narrowly defeated Mage at the Florida Derby in April. Mage was trending in the right direction and he was only defeated by the horse who was the Derby favorite. When Forte was pulled from the race it was conceivable that Mage was actually the fastest remaining horse, and bettors who saw this possibility and bet Mage at 15-1 cashed in.

Mage will no longer be overlooked heading into the Preakness, but I still think his speed and experience should be enough to win this race and set up a fun Belmont Stakes with Mage having a shot at the Triple Crown.

Play: Mage 8-5

How To Bet On The 2023 Preakness in the USA

Here’s the step by step guide to betting on the Preakness Stakes if you’re an American resident.

1 Open a Account

The first thing you will need to do is open a sports betting account.  There aren’t a lot of betting sites that accept bets from Americans, but is one that is solely focused on the USA marketplace.  In fact, they only accept American bettors.  This is great for US residents because it means the entire sports betting experience is catered directly to Americans, including betting on the Preakness Stakes. is currently offering new sign ups a $250 bonus.

2. Add Funds

Next you’ll need to fund your account in order to have money to bet on the race.  Bovada accepts credit card and Bitcoin deposits.  Each of these options are very easy for Americans because as I said before, Bovada is solely focused on allowing Americans an easy betting experience at their site.  As for withdrawals, bitcoin and courier check withdrawals are offered.

And remember, Bovada offers a $250 sign up bonus, so if you deposit $500 or more you will get the entire bonus!

3. Place Your Preakness Bets

Now that you have funds online you’re ready to wager on this years Preakness Stakes.

Once at the Bovada website, click on ‘Horses’ from the top menu bar to head over to the Bovada Racebook.  From here you will be able to click on Pimlico Race Course from the ‘All Tracks’ drop down menu and find the Preakness Stakes race on Saturday.

If you want to place your wager before Saturday, you can also do so by clicking on ‘Horses Futures & Props’ under the ‘All Sports’ drop down menu in the Sportsbook.

For some more general information check out our Preakness Stakes betting tips page.

That should be it.  Are you ready to bet?  Click here to visit…

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