5 Things You Need To Consider When Betting the Preakness Stakes 2022

Published 8:42 am Wednesday, May 18, 2022

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The Preakness Stakes is one of the biggest and most awaited races in the horse betting industry. Winning this race is a requirement for a horse to win the Triple Crown Jewel. Aside from the horses who want to win the Triple Crown, bettors are also excited about this event as it is an excellent opportunity to win a bet in horse racing. 

Betting alone can already provide punters with the adrenaline rush they are craving. But with the Preakness Stakes, the rush doubles, knowing that it is one of the most significant horse race events of the year and the stakes are high. 

If you are betting on this year’s Preakness Stakes, here are the five things you must consider before placing your wager. These tips will increase your chance of winning a majority of your wagers for this year’s race. 

Contender’s Odds

The contender’s odds are the first thing you must consider when betting for the Preakness Stakes, like any other horse race event. Punters use this as a baseline when choosing a horse to bet on in a race. As the event gets closer, you should constantly check the odds for 2022 preakness stakes

Remember, odds can change, especially if the event gets nearer. The favorite horse to win the Preakness Stakes 2022 will hold the highest spot in the sportsbook. However, the more punters bet on the said horse, the lower the profit you can get. 

Moreover, based on horse racing history in general, the favorite horse doesn’t always conquer the race. Historically, favorites have a 37% chance of winning. This percentage can also change depending on the class, surface, distance, and other factors of race. 

Performance History

Since odds can only be used as a baseline for your wager and can’t provide a sure win, you can always look for other things to back up your choice. The best thing to look for is the contender’s race history. You will see many things that will help you pinpoint who will likely dominate the race. 

Check out how each contender performs under different circumstances like the weather, the track surface, and the distance of each race they won. Aside from their winning races, don’t forget to check their other races where they didn’t win. It will also provide great insights into how the horse acts in different settings. 

Overall Condition of the Horse

Handicapping is one of the proven ways to increase your chance of choosing the winning horse of the race. When handicapping, you will have to study the horse’s overall condition. It includes the horse’s form, ability, class, and breeding. 

Check out each Preakness Stakes contender’s form and eliminate all unfit ones. Next, consider the contender’s most recent race and see how their conditions are in those races. Again, you should look out for the horse’s competitiveness, especially during their recent races. 

You must also check out how fast each contender runs. What you should determine is the horse’s capability and what it wanted to accomplish. You should eliminate all horses who finished a race three or more behind the frontrunners. 

Betting Type

Aside from focusing on the horses, it is also best to check out all the betting types. After you familiarize each betting type, you can decide what to go for. There are various betting types you can choose from straight betting or across the board. 

Straight betting is categorized into three different bets: Win, Place, and Show. A win bet is the most commonly used by many punters. This is because you will only need to bet on the horse to win the race. Place bet is when you choose a horse to finish first or second. Meanwhile, show betting is betting on the horse that you think will finish first, second or third. 

You will need to bet for the horse to win, place, or show for across-the-board betting. This betting type is called across the board because you can bet various bets at the same time. When you win in this betting type, you can collect your money in three ways: win, place and show. This betting type is similar to parlay bets for other sports betting. So, if you love betting parlays, you can go across the board in the Preakness Stakes. 

Sportsbook You Will Use

Now that you are done examining the contenders and have already chosen the best betting type for you, it is time to complete your task and prepare for the betting itself. But, before that, you should first pick out what sportsbook to use for your betting journey. 

Choosing the right sportsbook for your Preakness betting is as vital as choosing the correct betting type. So, it would be best if you researched which sportsbook best fits your needs. Always consider what you are looking for when choosing a sportsbook. 

List down all the deal-breakers and eliminate sportsbooks out of your preference. It is also best to read reviews from the previous and current sportsbooks. 

Bet Wisely

Betting is done not only to increase the thrill of horse racing. However, the excitement it provides is only one part of it. The most significant part of betting is to gain profit. Therefore, you must bet wisely to increase your chance of profiting from the Preakness Stakes 2022.