The 151st running of the Preakness Stakes takes place Saturday, May 16, 2026, at Laurel Park in Maryland, marking the first time the second jewel of the Triple Crown has been contested away from Pimlico Race Course since 1908. With Kentucky Derby winner Golden Tempo skipping the race, an unusually wide-open field, and the historic venue change, this year's Preakness is one of the most intriguing betting events on the spring sports calendar.
Quick Answer: The 2026 Preakness Stakes runs Saturday, May 16 at Laurel Park, post time 6:50 p.m. ET. Renegade is the 10-1 morning-line favorite. Crude Velocity (4-1 early favorite) and Golden Tempo will not run. The race is 1 3/16 miles on dirt with a $2 million purse.
Why the 2026 Preakness Is Being Held at Laurel Park
Pimlico Race Course, the traditional home of the Preakness since 1873, is undergoing a multi-year reconstruction project. Maryland authorities and the Stronach Group, which operates the track, agreed to relocate the 2026 edition to Laurel Park, also in Maryland and just under 30 minutes from Pimlico. The race is expected to return to a rebuilt Pimlico for the 2027 running.
For bettors, the venue change introduces meaningful handicapping wrinkles. Laurel Park's main track has subtly different surface characteristics than Pimlico, and the track's tendency to favor inside posts at certain distances may matter at the 1 3/16-mile Preakness distance. Public handicappers have been studying recent Laurel Park dirt routes for clues on bias.
The Field and Top Contenders
The most newsworthy storyline entering the race is the absence of Kentucky Derby winner Golden Tempo. His connections opted to point him toward the Belmont Stakes and a summer campaign rather than running back in two weeks, making him the third Derby winner in the past five years to skip the Preakness. Crude Velocity, who briefly opened as a 4-1 early Preakness favorite, will also bypass the race in favor of rest.
That leaves Renegade as the morning-line favorite at 10-1. Trained by Hall of Fame conditioner Todd Pletcher, the Into Mischief colt enters undefeated this year with wins in the Sam F. Davis Stakes at Tampa Bay Downs and the Grade 1 Arkansas Derby at Oaklawn Park. He skipped the Kentucky Derby specifically to be fresher for Baltimore, a strategy that has paid off for several recent Preakness winners.
Pricing the Rest of the Field
Behind Renegade, the field is unusually compressed. Iron Honor (19-1), Taj Mahal (20-1), and Cherokee Nation (22-1) are the next tier of betting interest. Each brings a credible case but also clear flaws that have kept their odds elevated.
For bettors looking for value, this is the kind of race where exotic wagers like exactas and trifectas frequently produce massive payouts when a mid-priced horse hits the board. With no clear standout, even the favorite at 10-1 offers more value than a typical Triple Crown race favorite. Reviewing the basics of betting fundamentals can help you build a structured approach to spreading risk across exotics.
How to Bet the Preakness
Most major US sportsbooks accept Preakness wagers either through dedicated horse racing platforms or through standard sports betting interfaces. The most popular bet types include:
- Win/Place/Show: Straight bets on a horse to finish first, in the top two, or in the top three. Lower variance, lower payouts.
- Exacta: Pick the first two finishers in exact order. A common boxed exacta covers all permutations of two or more horses.
- Trifecta: Pick the first three finishers in exact order. Massive payouts when a longshot hits.
- Daily Double: Pick the winners of two consecutive races. Often paired with the Preakness and the race that precedes it.
- Pick 4 / Pick 5: Pick the winners of four or five consecutive races. Rare to hit but life-changing payouts.
For US bettors, sportsbooks like DraftKings and FanDuel route horse racing wagers through their dedicated platforms (DK Horse and FanDuel Racing). Standard Preakness wagers are also available through TVG, TwinSpires, and 1/ST Bet.
Best Sportsbook Promos for the Preakness
Several sportsbooks run dedicated horse racing promos around the Triple Crown, including odds boosts on certain horses, deposit bonuses for new horse racing accounts, and rebates on losing exotic wagers. New customers should compare available offers via our best sportsbook promos page before placing their first bet of the day.
Common promo structures include: a 100% match on first horse racing deposit (capped at $250-$500), a 5-10% rebate on losing wagers placed on the Preakness card, and odds boosts on specific Preakness contenders. Always read the terms; most promotions exclude winning wagers from rebate calculations.
Track Bias and Pace Scenarios at Laurel Park
Recent dirt routes at Laurel Park have shown a slight inside-post bias and a moderate speed bias, meaning horses with early speed and inside post positions have outperformed expectations. Posts will be drawn earlier in the week, but bettors should adjust their handicapping accordingly when the field is set.
Pace scenario matters: with several closers in the field and only one or two confirmed pace setters, the race could set up well for a stalker who can save ground around the turns. Renegade fits that profile, which partially explains his morning-line favoritism even at 10-1.
Triple Crown Implications
Without Golden Tempo running, the 2026 Triple Crown is no longer in play. American Pharoah (2015) and Justify (2018) remain the only Triple Crown winners since the 1970s. The lack of a Triple Crown bid traditionally hurts Preakness handle slightly, but the venue change to Laurel Park has generated enough novelty to keep wagering volume strong.
For bettors who normally only watch the Kentucky Derby, the Preakness offers a chance to capitalize on softer fields with handicapping work that the casual public typically ignores. Many seasoned horse players consider it the most profitable race on the Triple Crown calendar precisely because public attention drops between the Derby and the Preakness.
Frequently Asked Questions
What time is the 2026 Preakness Stakes?
Post time is 6:50 p.m. ET on Saturday, May 16, 2026. The race is the 13th of 14 on the Laurel Park card.
Why is the Preakness at Laurel Park instead of Pimlico?
Pimlico Race Course is undergoing a multi-year reconstruction project. The 2026 Preakness was relocated to Laurel Park, also in Maryland, with a planned return to a rebuilt Pimlico in 2027.
Who is the favorite in the 2026 Preakness Stakes?
Renegade is the 10-1 morning-line favorite, trained by Todd Pletcher. The Into Mischief colt is undefeated this year with wins in the Sam F. Davis Stakes and Grade 1 Arkansas Derby.
Can I bet the Preakness on DraftKings or FanDuel?
Yes. Both sportsbooks route horse racing wagers through dedicated platforms (DK Horse, FanDuel Racing). Other major options include TVG, TwinSpires, and 1/ST Bet.
How much is the 2026 Preakness purse?
The total purse is $2 million, with the winner receiving a substantial majority of the share. Place, show, fourth, and fifth finishers also collect significant prize money.
Conclusion
The 2026 Preakness Stakes is one of the most unusual editions of the race in over a century, with the venue moved to Laurel Park, the Kentucky Derby winner skipping the race, and a wide-open field led by 10-1 favorite Renegade. For bettors, that combination creates real value in both straight wagers and exotics. Find the best Preakness odds and promos through our complete sports betting guide before post time.
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