Preakness Stakes Odds & Predictions 2023

Last Updated: May 20, 2023

The second stop of the race for the Triple Crown takes us to Pimlico. After a thrilling win at Kentucky Derby, Mage will attempt to win the second leg at the Preakness.

This time around, Mage’s challenge is much different. For starters, he’s now an 8/5 morning line favorite, taking on a field that is less than half the size of the one he just conquered.

Will Mage head into the Belmont with the Triple Crown still intact? Or are there other horses still worth betting?

Here are some of our best bets for the Preakness.

Preakness Stakes Odds & Position Draws

Before we get to the post positions, a note that Preakness odds are current as of Tuesday, May 16, at noon ET and were found at DRF Bets.

DRF Bets is offering new players a deposit match of up to $250 along with a $10 free bet — just in time for the second leg of the Triple Crown.

Click below for our top Preakness betting promo:

(Read Pat Pickens’ full DRF Bets Horse Racing App Review.)

Here are the position draws and horse odds for the 148th running of the Preakness Stakes:

POSHorse NameOdds To WinJockeyTrainer
1National Treasure4/1John R. VelazquezBob Baffert
2Chase the Chaos 50/1Sheldon RussellEd Moger, Jr.
3Mage*8/5Javier CastellanoGustavo Delgado
4Coffeewithchris20/1Jaime RodriguezJohn Salzman Jr.
5Red Route One10/1Joel RosarioSteve Asmussen
6Perform 15/1Feargal LynchClaude McGaughey III
7Blazing Sevens6/1Irad Ortiz, Jr.Chad C. Brown
8First Mission5/2Luis SaezBrad H. Cox

* 2023 Kentucky Derby winner

Mage is the only horse from the Kentucky Derby that will be racing in the Preakness. As such, we have only an eight-horse field for the second leg.

Given the field size, it’s not shocking to see Mage as an 8/5 morning line favorite. It also wouldn’t be shocking to see another horse push him for the victory.

Preakness Stakes Win/Place/Show Predictions

WIN Preakness: No. 8 First Mission (5/2)

Win Preakness: No. 3 Mage (8/5)

(Editor’s Note: First Mission was scratched from the 2023 Preakness Stakes on Friday. I would suggest No. 3 Mage as your best bet to WIN, with No. 1 National Treasure replacing Mage in second place. - Matt Williams)

The favorite certainly is in a fine position to win once again. Mage has the best Beyer Speed Figure by a significant margin. He’s also shown a knack for excelling at longer distances.

With a (slightly) shorter race on deck, I envision Mage making a push for the win at the end of the race. He has the talent to come up for the win.

🐎 Find more of the best Preakness betting apps and sites.

PLACE Preakness: No. 3 Mage (8/5)

PLACE Preakness: No. 1 National Treasure (4/1)

(Editor’s Note: First Mission was scratched from the 2023 Preakness Stakes on Friday. I would suggest No. 3 Mage as your best bet to WIN, with No. 1 National Treasure replacing Mage in second place. - Matt Williams)

Bob Baffert returns to the Preakness after being suspended for the 2023 Kentucky Derby. Baffert is tied for the most victories in the Preakness (7) and will look to claim the record by himself with National Treasure.

National Treasure missed some time with a minor foot injury, finishing in fourth place during the Santa Anita Derby. However, I expect jockey John Velasquez to turn in a brilliant ride after strong workouts leading into Saturday’s race.

Baffert decided to put the blinkers back on National Treasure following the Santa Anita, which should allow the horse to lead the pace in a race that is expected to lack some. - Matt Williams

SHOW Preakness: No. 5 Red Route One (10/1)

Red Route One has run in nine races, which is more than First Mission and Mage combined.

Results have been mixed, to say the least, although the horse is seasoned. It also loves to race from behind, which has been consistent since Red Route One began racing.

While I don’t expect the pace to be robust, I could see Red Route One making a push at the very end.

❓ Read our full guide to how to bet on horse racing.

Preakness Stakes Sleeper Horse Bet to Win

(5) Red Route One (10/1)

Will the pace be fast enough for Red Route One to make a move? If the fractions from the Derby are duplicated, the answer could be yes.

Finding good value in this race is not easy. There appear, at least on paper, only a handful of horses with long odds capable of competing for the win.

While the pace has to go his way, the value that comes along with it is worth taking a chance on.

Preakness Stakes Best Bets

(3) Mage Win/Place/Show

The reasons for the bet are well defined above. The true speed of this race has a chance to run a comfortable pace and deliver a wire-to-wire win.

$3 Trifecta Box: (3) Mage, (1) National Treasure, (5) Red Route One, (7) Blazing Sevens

(Editor’s Note: First Mission was removed after being scratched on Friday. I added Blazing Sevens to the trifecta box after posting a bullet five-furlong workout. Trainer Chad Brown has won the Preakness Stakes twice before with horses that skipped the Kentucky Derby, and he has a good shot to do it again. - Matt Williams)

There’s not an abundance of value here, although there could be if Mage misses the board or finishes in third. We’re boxing all four horses and trying to assemble a top three that leads to a modest profit.

Place these Preakness wagers at .

Preakness Stakes Pimlico Track Notes & Tips

Keep an Eye on the Weather

This is always a tip I must share when it comes to horse racing, although Baltimore is showing a chance of showers on Saturday. The breeding for the favorites lines up well for an off track, and it lines up particularly well for Red Route.

It’s something to monitor.

Bob Baffert is Back

The controversial trainer, who was not permitted to run horses at Churchill Downs, has a live horse in No. 1 National Treasure. While I don’t love this horse in this race, his presence will certainly be felt come Saturday.

History at Stake

A grand total of 13 horses have won the Triple Crown. After a long gap between winners, American Pharoah accomplished the feat in 2015, and Justified did the same in 2018.

Mage will attempt to keep the hopes alive, although he will do so having raced just two short weeks ago.


Adam Kramer

Adam Kramer is an NFL, college football, and gambling analyst for The Game Day. While college football has long been his calling, he’s also covered sports such as boxing, horse racing, and baseball at The Game Day and in other places. He’s also written for Bleacher Report, VSiN, and various other outlets over the past decade-plus.

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