The Preakness Stakes odds are now live at the top horse racing betting sites, highlighting a big favorite in Muth. The main challenged will have to beat the winner of the Derby in what is expected to be a 10-horse field at Pimlico Racecourse.
I go through all the major contenders in this article that also includes the latest Preakness odds, full analysis, and my Preakness Stakes predictions!
Preakness Stakes 2024 Betting Odds
The following Preakness odds are courtesy of Bovada:
| HORSE | ODDS |
|---|---|
| Muth | -175 |
| Mystik Dan | +300 |
| Imagination | +450 |
| Tuscan Gold | +450 |
| Just Steel | +700 |
| Seize The Grey | +800 |
| Copper Tax | +1600 |
| Informed Patriot | +1600 |
| Uncle Heavy | +1600 |
| Mugatu | +2500 |
Bob Baffert’s Muth (-175) is the odds-on favorite to win the 2024 Preakness Stakes. The iconic trainer missed his third consecutive Kentucky Derby due to a suspension, but his horse has the top odds to win the Preakness at Pimlico. Muth has an implied chance to win of 63.6%.
Currently, Mystik Dan (+300) has the second-shortest price of winning the Preakness. The Kentucky Derby has only a 25% probability of capturing the second leg of the Triple Crown according to the oddsmakers.
2024 Preakness Stakes Favorites
According to all sports betting sites, Muth and Mystik Dan are the most likely winners of the 2024 Preakness Stakes. Let’s delve into a deep analysis of each horse, and then finish with my Preakness best bets:
Muth (-175)
- Owner: Zedan Racing Stables
- Trainer: Bob Baffert
- Jockey: Juan Hernandez
- Stakes Wins: 3
After failing to overturn his Kentucky Derby suspension, the 71-year-old two-time Triple Crown-winning trainer Bob Baffert will enter Muth into the Preakness Stakes. The veteran has a strong colt running for him in this 9.5-furlong event on the dirt.
Muth debuted at Baffert’s home track of Santa Anita Park on June 18, 2023. Since blowing away the field for an 8 ¾ length win as a heavy favorite, Muth has started five consecutive graded stakes races.
The $2 million Saudi-backed colt has produced overwhelmingly positive results. Muth has won three of five events, including two tough Grade 1 races. On October 7, 2023, Muth cleared Wine Me Up by 3 ¾ lengths as the favorite in the American Pharoah Stakes (Gr. 1).
The horse saved the best effort for his latest performance in the $1.5 million Arkansas Derby (Gr. 1). He was in his best form for a 2-length win over Just Steel. Mystik Dan finished 3rd in the Kentucky Derby prep race.
Muth received full points and an automatic trip to the Derby for the win, but it didn’t matter with Baffert suspended.
The talented runner was recorded with a speed figure of 115! As a comparison, Mystik Dan and Sierra Leone hit a 109-speed figure in the Kentucky Derby.
If Muth has a repeat trip in the Preakness Stakes, it would likely result in an easy multi-length victory for Baffert’s trainee!
Mystik Dan (+300)
- Owner: Lance Gassaway
- Trainer: Kenny McPeek
- Jockey: Brian Joseph Hernandez Jr.
- Stakes Wins: 2
The unlikely Kentucky Derby winner nipped Sierra Leone and Forever Young at the wire by a nose. It was the closest three-horse finish in the Derby since Jet Pilot won in 1947!
Mystik Dan drew clear, but Sierra Leone and Forever Young reeled him in with a duel down the stretch. With Mystik Dan and jockey Brain Joseph Hernandez Jr. hugging the rail, they managed to outlast two surging horses.
WOW. 😱
Mystik Dan WINS the 150th Kentucky Derby in a PHOTO FINISH! pic.twitter.com/N2jfd2TsKe
— NBC Sports (@NBCSports) May 4, 2024
He went off as an 18-1 longshot and won without attracting nearly the most money at the window. After the Derby win, Mystik Dan now has the second-best 2024 Preakness Stakes odds.
It was the perfect trip for Mystik Dan; he may need another near-perfect trip at Pimlico. If Sierra Leone had drawn a more favorable post-position, it’s probable that he would have gotten a better trip and wouldn’t have had to fight from the outside.
Mystik Dan and Sierra Leone recorded the same speed figures in that race, so he wasn’t faster by any means. Before the Derby win, Mystik Dan wasn’t on many people’s radar. He finished 3rd in the Arkansas Derby (Gr. 1) — behind by more than 6 lengths.
Aside from the Derby win, Mystik Dan’s best victory was in the $800,000 Southwest Stakes (Gr. 2) on February 3. He drew away with ease for an 8-length win as a longshot!
Mystik Dan can win, but everything must come together on Saturday in Baltimore. The Preakness betting odds for this horse are way too short, all things considered.
2024 Preakness Stakes Sleepers
Will another longshot rise to the occasion and steal a win in the Triple Crown? It’s always wise to place a Preakness Stakes betting pick on a sleeper or two.
Below, I have two horses with strong odds with a decent chance to upset the favorites at the 149th Preakness Stakes:
-
I am looking at Gary Capuano’s horse for my first 2024 Preakness Stakes pick. Copper Tax is entering deeper waters in the Preakness Stakes, but his recent form suggests there is a lot to like here.
Copper Tax has won seven of his previous nine events. After failing to reach a 100-speed figure, Copper Tax has gotten there in his previous two races.
He won by a neck in the $100,000 Terms Stakes and followed up with a ¾ length victory in the $125,000 Federico Tesio Stakes. If Copper Tax continues trending up and showing improvement, there is a chance to get involved in the stretch run!
-
Uncle Heavy is three for five in his career and has experience in graded stakes races. In his Grade 3 debut, Robert Reid Jr.’s Uncle Heavy showed an excellent late kick to win the $250,000 Withers Stakes (Gr. 3) by a nose in February at Aqueduct Racetrack.
In his most recent start on April 6, Uncle Heavy finished 5th in the $750,000 Wood Memorial Stakes (Gr. 2). It wasn’t a win, but Uncle Heavy showed improvement. He was 10th at the ½ pole and fought back to 5th in the stretch.
Preakness Stakes 2024 Prediction and Best Bets
Hernandez Jr. and Mystik Dan had the perfect trip on the inside rail to nip their foes at the wire. However, in a race with 10 horses and less traffic at 9.5 furlongs, the competition will be wide open on the track.
Mystik Dan will have to depend on more than faster horses drawing a bad post position. And when I say faster horses, I should mention Muth. Baffert’s favorite is the class of the field and in top form entering the Preakness Stakes!
If he participated in the Kentucky Derby and ran as he did in the Arkansas Derby (Gr. 1), it likely wouldn’t have been competitive. The same applies to this race, even more so against a weaker field.
Favorites from the Derby, Sierra Leone and Fierceness are not running, nor is 3rd place finisher Forever Young. Mystik Dan will run but enters on a short two-week break.
Muth is in a class of his own at Pimlico, so consider a win bet on Baffert’s talented $2 million colt. Also, for your Preakness Stakes best bets, I suggest Muth and Uncle Heavy on an exacta for a lucrative payout!
Where To Bet On The Preakness Stakes?
Several online bookies offer horse racing betting on the Preakness. At the top of that list is Bovada, which provides a top-rated handicapping experience to make your Preakness picks.
Whether you want to bet in their state-of-the-art racebook, or fixed Preakness Stakes odds in the sportsbook, Bovada has you covered. You should take advantage of the bookie’s welcome bonus for fixed wagering.
Bovada offers a 50% match bonus of up to $250 for new customers on their first deposit. Also, betting with cryptocurrency has its perks, as Bovada has a 75% match bonus of up to $750 for new customers!
Welcome Bonus
75% up to $750
- Tiered Loyalty Rewards Program Redeemable for Cash Bonuses
- Great Mobile Live Betting Interface
- Excellent Prop Builder
