Get Set for the 150th Running of the Preakness Stakes at Pimlico – Early Betting Odds
BALTIMORE, MD — The countdown is on for the 2025 Preakness Stakes, set to take place on Saturday, May 17 at the historic Pimlico Race Course in Baltimore. The second jewel in the Triple Crown, often dubbed “The Run for the Black-Eyed Susans”, is one of the marquee events of the spring racing calendar and a golden opportunity for sharp bettors to find value.
With futures odds already posted at select sportsbooks, let’s break down the current betting board, how the odds are made, and key tips for wagering on the Preakness.
📊 2025 Preakness Stakes Futures Odds (via Select Books)
| Horse | Odds |
|---|---|
| Journalism | 5-1 |
| Cornucopian | 7-1 |
| Baeza | 11-1 |
| Sovereignty | 15-1 |
| Sandman | 16-1 |
| Rodriguez | 19-1 |
| Clever Again | 20-1 |
| Citizen Bull | 20-1 |
| Caldera | 22-1 |
| Burnham Square | 23-1 |
| American Promise | 23-1 |
| River Thames | 27-1 |
| Luxor Cafe | 27-1 |
| All Other 3YO’s | 28-1 |
| Tiztastic | 31-1 |
| East Avenue | 33-1 |
| Coal Battle | 38-1 |
| Final Gambit | 38-1 |
Top Tip: Keep an eye on Sovereignty, the Derby winner who opened at 15-1 in early Preakness futures. After fading at Pimlico in 2024, he’s looking for redemption.
💡 How Are Preakness Odds Made?
Preakness odds are created by track linemakers — seasoned analysts who assess each horse’s chances of winning based on a wide range of factors:
- Recent performances
- Jockey/trainer combinations
- Track conditions
- Speed figures and workouts
- Breeding and distance suitability
These odds, called morning-line odds, reflect probability estimates and betting interest. They’re dynamic, meaning they can shift significantly based on public money leading up to post time.
🔍 Understanding American Odds
American betting odds are expressed in terms of how much you’d win on a $100 wager:
- +1500 (15-1) = $1500 profit on a $100 bet
- +250 (5-2) = $250 profit on a $100 bet
The implied probability gives you an idea of the horse’s chance to win:
- +1500 = 6.25% chance
- +250 = 28.57% chance
While longshots like Final Gambit at 38-1 offer huge payouts, they also carry high risk. Smart bettors balance risk and value.
🏇 Preakness Stakes Betting History: Post Position & Payouts
| Year | Winner | Post Position | Odds |
|---|---|---|---|
| 2024 | Seize the Grey | 6 | 15-1 |
| 2023 | National Treasure | 1 | 4-1 |
| 2022 | Early Voting | 5 | 5-1 |
| 2021 | Rombauer | 6 | 12-1 |
| 2020 | Swiss Skydiver | 4 | 11-1 |
| 2019 | War of Will | 1 | 4-1 |
🗓️ Preakness Stakes 2025 Event Info
- Date: Saturday, May 17, 2025
- Location: Pimlico Race Course, Baltimore, MD
- Distance: 1 3/16 miles
- Purse: TBD (was $2 million in 2024)
- Broadcast: NBC
Final Word:
With contenders like Journalism (5-1) and Cornucopian (7-1) heading the futures market, and the ever-dangerous Sovereignty (15-1) in the mix, bettors are in for a thrilling Preakness Stakes.
It is likely the odds will change a lot between now and race day. Keep up-to-date with our updates.
Whether you’re backing a favorite or taking a flier on a longshot like Luxor Cafe, make sure you understand the odds and shop around for the best value.
