Here you’ll find a general a Preakness Stakes betting guide to help you navigate the window at the track. Betting on horses uses different terminology than regular sports betting, so this will allow you to talk the talk while walking through the paddock. The 2015 Preakness Stakes will run on Saturday, May 16th just two weeks after the Kentucky derby. The following can be applied to all horse betting.


A straight bet is, as the name implies, extremely straightforward. You bet on a single horse generating a single outcome. Unlike other sports, you can bet on the top-3 finishers as opposed to just the winner. Here are the basic, straight bet types. 

Win – The horse must finish 1st. 

Place – The horse must finish 1st or 2nd. 

Show – The horse must finish 1st, 2nd or 3rd. 

Obviously, betting on a horse to show gives you reduced odds because of the reduced risk involved but it tends to be a much safer play. 


A parlay is a type of bet that requires two or more outcomes, and in the world of horse betting these take on different names. If you want to walk the walk, then you’ll have to talk the talk as well. Here’s what you need to know: 

Exacta – Your horses must finish 1st and 2nd in a specified order. This makes the bet much harder to win but also greatly increases the odds of your bet. 

Trifecta – Your horses must finish 1st, 2nd and 3rd in exact order. 

Superfecta – Your select four horses that must finish 1st, 2nd, 3rd and 4th in exact order. Of all the exotic bets on the table, this is by far the most difficult to win and usually costs the most. As they say – the higher the risk, the higher the reward. This is not for the faint of heart. 

These bets are generally more difficult to win than straight bets, especially with the specified outcomes. There is, however, a work around where you can group several horses in the Kentucky Derby and bet on them. This is known as a box

Now you’re armed with the general guidelines to bet on the Preakness Stakes! How you wager your wallet on race day is completely up to you as it always is. We’ll see you in the winner’s circle.