The Preakness Stakes odds are now live at the top horse racing betting sites. The oddsmakers initially favored Muth before the horse was scratched because of a high temperature. As a result, Kentucky Derby winner Mystik Dan is now leading the way.
I go through all the major contenders in this article which also includes the latest Preakness odds, full analysis, and my Preakness Stakes predictions!
Preakness Stakes 2024 Betting Odds
The following Preakness odds are courtesy of Bovada:
| HORSE | ODDS |
|---|---|
| Mystik Dan | +190 |
| Imagination | +400 |
| Tuscan Gold | +400 |
| Just Steel | +1100 |
| Seize The Grey | +1200 |
| Uncle Heavy | +1600 |
| Mugatu | +3500 |
There has been a shake-up in the Preakness Stakes odds after Muth was scratched with a fever. Mystik Dan (+190) is now the favorite to win the $2 million Preakness Stakes (Gr. 1).
As a +190 favorite, the Kentucky Derby winner has a 34.5% implied chance to win the Preakness Stakes. Imagination, Tuscan Gold, and Catching Freedom are tied for the second-shortest odds at +400, for an implied probability of 20%.
2024 Preakness Stakes Favorites
According to the latest Preakness 2024 odds at sports betting sites, four horses have a legitimate shot of winning the Preakness Stakes.
It would be a huge upset if any other horse reaches the wire first at Pimlico on Saturday. Let’s delve into two favorites I have shortlisted on my Preakness card:
Mystik Dan (+190)
- Owner: Lance Gassaway
- Trainer: Kenny McPeek
- Jockey: Brian Joseph Hernandez Jr.
- Stakes Wins: 2
Due to Muth’s fever, Kenny McPeek’s Mystik Dan moves into the favorite’s seat. After winning the Kentucky Derby, the No. 5 horse has a much clearer path to winning the Triple Crown. Muth was the fastest horse on paper in the Preakness Stakes, but that all changes now.
The unlikely Kentucky Derby winner nipped Sierra Leone and Forever Young at the wire by a nose. It was the closest three-horse finish in the Derby since Jet Pilot won in 1947!
Mystik Dan drew clear, but Sierra Leone and Forever Young reeled him in with a duel down the stretch. With Mystik Dan and jockey Brian Joseph Hernandez Jr. hugging the rail, they managed to outlast two surging horses.
WOW. 😱
Mystik Dan WINS the 150th Kentucky Derby in a PHOTO FINISH! pic.twitter.com/N2jfd2TsKe
— NBC Sports (@NBCSports) May 4, 2024
He went off as an 18-1 longshot and won without attracting nearly the most money at the window. After the Derby win, Mystik Dan now has the second-best 2024 Preakness Stakes odds.
It was the perfect trip for Mystik Dan; he may need another near-perfect trip at Pimlico. If Sierra Leone had drawn a more favorable post-position, it’s probable that he would have gotten a better trip and wouldn’t have had to fight from the outside.
Mystik Dan and Sierra Leone recorded the same speed figures in that race, so he wasn’t faster by any means. Before the Derby win, Mystik Dan wasn’t on many people’s radar. He finished 3rd in the Arkansas Derby (Gr. 1) — behind by more than 6 lengths.
Aside from the Derby win, Mystik Dan’s best victory was in the $800,000 Southwest Stakes (Gr. 2) on February 3. He drew away with ease for an 8-length win as a longshot!
Mystik Dan can win, but everything must come together on Saturday in Baltimore. The Preakness betting odds for this horse are way too short, all things considered.
Imagination (+400)
- Owner: SF Racing LLC, Starlight Racing, Madaket Stables LLC, Stonestreet Stables LLC, Waves Edge Capital LLC
- Trainer: Bob Baffert
- Jockey: Lanfranco Dettori
- Stakes Wins: 1
Bob Baffert will be without Muth, but he still has a contender in the race. Imagination’s odds to win the Preakness Stakes improved from +450 to +400 after the initial favorite was scratched.
The price didn’t shorten enough, though. Imagination continues to go under the radar as the Preakness approaches this weekend. The three-year-old $1,050,000 colt is one of the most consistent horses in this field.
Imagination is one constant in a field of inconsistent runners. He has placed 2nd or won in each of his six entries. Baffert entered his first graded stakes race on March 3. It was a strong start, with Imagination defeating Wine Me Up by a head in the DK Horse San Felipe Stakes (Gr. 2).
Imagination wins the DK Horse San Felipe Stakes G2. pic.twitter.com/qwCYz8bTsZ
— Santa Anita Park (@santaanitapark) March 4, 2024
Baffert’s trainee took on the toughest start of his career in the $750,000 Santa Anita Derby (Gr. 1). Imagination came short, but it was a close loss by a neck to Stronghold on April 6. The horse also posted the fastest speed figure of his career at 104.
Since then, Imagination has continued to show improvement in workouts. On April 28, he was timed at 59.80 seconds in 5 furlongs. In two May workouts, he recorded a strong 1:11.40 and 1:11.80 in 6 furlongs at Santa Anita.
Many horse racing fans were happy to see a Baffert horse out of the Preakness Stakes. However, the trainer has a strong chance to win his second consecutive Preakness with Imagination.
2024 Preakness Stakes Sleepers
Will another longshot rise to the occasion and steal a win in the Triple Crown? It’s always wise to place a Preakness Stakes betting pick on a sleeper or two.
With only an eight-horse field scheduled for the Preakness, there aren’t any huge long shots. Nevertheless, it’s still expected to be a wide-open race at Pimlico Racecourse.
Below, I have two horses with strong odds with a decent chance to upset the favorites at the 149th Preakness Stakes:
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Seize the Grey provides veteran trainer D. Wayne Lucas a puncher’s chance of landing in the winner’s circle. His colt is coming off a strong performance in the $600,000 Pat Day Mile Stakes (Gr. 2) on May 4.
Despite getting bumped, Seize the Grey overcame the contact to split two horses in the stretch to win by 1 ¼ lengths. It was the fourth graded stakes entry of his career and best result. He also posted his quickest speed reading in the Pat Day Mile.
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Uncle Heavy is three for five in his career and has experience in graded stakes races. In his Grade 3 debut, Robert Reid Jr.’s Uncle Heavy showed an excellent late kick to win the $250,000 Withers Stakes (Gr. 3) by a nose in February at Aqueduct Racetrack.
In his most recent start on April 6, Uncle Heavy finished 5th in the $750,000 Wood Memorial Stakes (Gr. 2). It wasn’t a win, but Uncle Heavy showed improvement. He was 10th at the ½ pole and fought back to 5th in the stretch.
Preakness Stakes 2024 Prediction and Best Bets
Baffert had the class of the field in the Preakness Stakes. Muth was prepared to draw clear at the Preakness Stakes in the stretch before getting scratched. The trainer still has a strong contender entering Race 13 at Pimlico Racecourse.
The $1 million colt continues to showcase better form in each passing workout. He is trending up and is on pace to reach the peak of his career in the $2 million Preakness Stakes (Gr. 1).
Against a stacked Preakness field, this would have been a tough assignment. However, it’s a weak field with a win there for the taking. If Imagination runs how he did in his previous two starts and maintains his workout form, he and rider Frankie Dettori will be contending for the win in the stretch.
Mystik Dan needed the perfect race to win the Kentucky Derby, but he will need pure speed to win in an eight-horse event. There isn’t any value on Mystik Dan as the favorite in the Preakness Stakes odds. Imagination is the much better pick at +400.
Also, Seize the Grey should have an opportunity to get involved, so consider an exacta bet for your Preakness Stakes 2024 predictions. Imagination and Seize the Grey to go 1-2 has the potential for a massive payoff at the window.
Where To Bet On The Preakness Stakes?
Several online bookies offer horse racing betting on the Preakness. At the top of that list is Bovada, which provides a top-rated handicapping experience to make your Preakness picks.
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