This years Preakness Stakes will take place this Saturday, May 18th at Pimlico Race Course in Baltimore, Maryland.
Mystik Dan, the Kentucky Derby winner, will enter the race as the favorite with morning line odds of 5-2. Muth was the original morning line favorite with odds of 8-5, but he was forced to withdraw earlier in th week after spiking a fever. The Muth withdrawal opens the door for Mystik Dan, with a win allowing him to head into the Belmont Stakes in June with a Triple Crown on the line.
The Preakness Stakes will be shown on NBC from 4:30pm to 7:30pm ET on race day. I’m expecting a lot of betting interest on this years race and for this reason I wanted to add this how to guide to betting on the Preakness in 2024.
Bet On 2024 Preakness Stakes in Canada – Step By Step Guide
#1. Open a Horse Race Betting Account
First you’ll need to open an online betting account at a site that accepts Canadian bettors and is taking bets on the Preakness Stakes. I will personally be betting on this race at Bodog.eu, our top rated sportsbook for Canadian residents. Here’s a full Bodog review if you want more information.
Bodog is entirely focused on the Canadian betting market and they are taking bets on the Preakness Stakes in both their Sportsbook (fixed odds bet on the race winner) and Racebook (full variety of horse racing bets available using the parimutuel betting system).
Click here to open an account at Bodog.eu.
| Sportsbook | Bonus | Visit |
|---|---|---|
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100% up to $400 | Visit |
#2. Fund Your Account
Next up, you need to make a deposit in order to have some funds with which to bet on the Preakness.
Log into your Bodog account and click the ‘Deposit’ button under your accounts drop down menu. Select your preferred deposit method, enter your deposit amount, and follow the instructions for the deposit option you’re using to fund your account.
Bodog accepts deposits through Interac e-Transfer, Visa, MasterCard, American Express, Bitcoin, Ethereum, and more.
#3. Place Your Preakness Stakes Bets
Now that you have money in your account you’re ready to bet.
Fixed Odds Winner Betting
Select ‘Sports’ from the top navigation on the Bodog.eu website. Open the ‘All Sports A-Z’ drop down menu and select ‘Horses Futures & Props’. Select the odds of the horse you are picking to win the race. Enter your risk amount on the Bet Slip and click ‘Place Bets’ to make your wager.
The odds in the Sportsbook are fixed so the odds for your bet are locked in when you place the wager.
Here is a screenshot of the odds for the Preakness Stakes winner from Bodog.eu (odds taken on May 17th):
Racebook Betting (Parimutuel Betting System)
Select ‘Horses’ from the top menu bar to navigate to the Bodog Racebook. Open the ‘All Tracks’ drop down menu and select ‘Pimlico’. Navigate to race #13 on May 18th (post time of 7:01pm EST) for the Preakness Stakes.
Select the type of bet you want to place (win/place/show, exacta, etc) and make your selections to add them to your Bet Slip. Enter your risk amounts on the Bet Slip and click ‘Place Bets’ to lock in the wagers.
The odds you see in the Racebook can change because the bets are placed used the parimutuel betting system, which means the odds change depending on how much money is wagered one each outcome relative to the total money in the betting pool. Learn all about parimutuel betting here.
You will also see that you have the option to place ‘Win, Place or Show‘ bets, as well as exotic bets such as ‘Exacta’, ‘Trifecta’, ‘Superfecta’, and more in the Racebook. I explain most of these different horse racing bets (with examples) on the horse racing betting page.
Ready to bet? Click here to visit Bodog.eu.
To learn more about the race check out our Preakness Stakes betting page.
Horse Racing • Horse Racing Betting • Preakness Stakes • Preakness Stakes betting