The 2026 Preakness Stakes will take place at Laurel Park in Maryland this Saturday, May 16th (the race was moved due to construction at its usual home of Pimlico Race Course). The race has a post time of 7:01pm ET and will be available to watch on NBC.
Golden Tempo, the Kentucky Derby winner, will not be in the field for the Preakness, instead choosing to focus on the Belmont Stakes in June. There are five horses with morning line odds between 9-2 and 6-1, which shows there are plenty of horses considered legitimate contenders in the field of 14 for this years Preakness.
I added this page to help Washington and Oregon residents understand where they can bet on the Preakness Stakes. Below I will look at the betting options in both states, outline the odds and provide a straight forward 3 step guide.
Where To Bet
Washington and Oregon residents can bet on the Preakness online through licensed advance deposit wagering (ADW) apps such as TwinSpires, FanDuel Racing and Xpressbet. Washington residents can also bet in person at Emerald Downs near Seattle, which takes simulcast bets on the race. Most racing apps require you to be at least 18, or 21 in some states, and they verify your identity and location when you sign up.
Other options include prediction markets such as Kalshi, which have listed winner markets on Triple Crown races, and offshore racebooks, which accept US customers but are not licensed or regulated by any state. Our horse racing betting guide explains how each option works.
Preakness Betting in Washington and Oregon
Sports betting is legal in Washington (since 2020), but it’s only allowed when on-location at a tribal casino. In Oregon, sports betting has been legal since 2019, and DraftKings is the only online sportsbook in the state through its partnership with the Oregon Lottery.
Horse racing is treated separately. Both states allow online horse betting through licensed racing apps, and several of the largest ADW operators are licensed through Oregon.
2026 Preakness Stakes Winner Odds
Here are the fixed race winner odds for the 2026 Preakness Stakes. The odds below are from May 13th, 2026, midway through race week.
Incredibolt (+400) is the favorite, while Iron Honor, Taj Mahal, Ocelli, and Chip Honcho are also right there as serious contenders in this 14 horse field.
Bet On The Preakness – 3 Step Guide
Follow this three step tutorial to bet on the Preakness Stakes from Washington or Oregon.
Step 1. Choose a Licensed Racing App
Pick a licensed ADW app that accepts your state, such as TwinSpires, FanDuel Racing or Xpressbet. All of them carry the full Preakness day card from Laurel Park. Washington residents can also bet in person at Emerald Downs.
Step 2. Open Your Account and Deposit
Sign up with your legal name, date of birth and address. Racing apps verify your identity and location before you can bet. Once you are verified, fund your account with a debit card, bank transfer or another listed payment method.
Step 3. Bet On The Preakness
There are two ways to bet on the Preakness: fixed-odds bets before race day, and the full menu of pari-mutuel bets once the race day card opens.
Before Race Day (Fixed Odds)
Before race day, fixed-odds bets on the Preakness winner are offered by prediction markets such as Kalshi and by offshore sportsbooks. With fixed odds, your price is locked in when you place the bet. Regulated US sportsbook apps generally do not take bets on horse racing, and there is no official future wager pool for the Preakness.
On Race Day (Pari-Mutuel Betting)
Racing apps and tracks open betting on the Preakness day card a few days before the race. Find Laurel Park in the track list and go to race #13 on May 16th, which has a post time of 7:01pm ET (4:01pm PT). Choose your horse and bet type, enter your stake, and confirm the bet on your bet slip. Popular Preakness bets include:
- Win, Place or Show – Your horse must finish first (win), first or second (place), or in the top three (show).
- Exacta – Pick the first and second place finishers in the exact order.
- Trifecta – Pick the top three finishers in the exact order.
- Superfecta – Pick the top four finishers in the exact order.
These are pari-mutuel bets, so your payout depends on the final pool at post time. Check out our horse race betting section for more information about this betting system and the various bets you can make on a horse race. Set a budget before you bet and stick to it. If gambling stops being fun, call 1-800-GAMBLER for free, confidential help.
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