The second leg of the American horse racing event, the Triple Crown, will run on May 21, 2022. After the first leg, Kentucky Derby, on May 7, 2022. Many anticipate which horse entry will win in the first leg and succeed in the Preakness Stakes. Will there be another Justify? You can find out by watching the Preakness Stakes this May!
Horse races are also famous amongst bettors, especially the Triple Crown races. Continue reading to find out why you should open a bankroll, the bets you can play (familiar and exotic), and where you can place them!
Open a Bankroll
Before placing your bets, ensure that you have opened a bankroll to pay off your wagers. Avoid using the bank account that you use for necessities. It can be hazardous if you use the money for your essential needs for betting.
Almost everyone in the horse race betting community has a bankroll. But not everyone, even veterans, knows how to manage it. Some may bet on too many races, chasing after losses, and fail to bet on the robust options. Your hard-earned money can be put to waste if not handled properly.
To successfully manage your bankroll, kindly ensure the following:
- Don’t bet on everything.
- Look for value amongst the bets, horses, and odds.
- Strictly stick to your budget!
- Do your research first, and then form an opinion when betting.
What Bets Can You Place?
If you’re just a novice bettor, you can start from the basic bets. These are the common wagers you can see in the Preakness Stakes betting table:
- Win. The horse you choose finishes first. Win bets give you a high chance of winning modest payoffs
- Place. The horse must either finish first or second place. Place bets have a better profit than show bets.
- Show. You’ll bet on a horse, and they must finish either first, second, or third to win your pay.
The harder it is to pick a horse, the bigger the payoffs would be. These are the top exotic horse race bets you can place this 2022 Preakness Stakes:
- Exacta. Depending on the horses’ odds, the payoffs in exacta bets can be a little or a lot. Here, you would bet on two horses to finish first and second place in the exact order.
- Trifecta. It is selecting three horses to win in the exact order of first, second, and third. If you use a lot of horses, it can be a pretty expensive bet.
- Superfecta. It is where bettors will select four horses to win first, second, third, and fourth place. You have to choose horses that will win that exact order. It’s a hard-level bet, but the expected payoff is enormous.
- Daily Double. The horses you pick should win two consecutive races.
- Pick 3. The horses you choose must win three consecutive races. It’s a complex bet, but the payoff is also promising.
- Pick 4. Like pick 3 and daily double, you are choosing a horse that has to win races consecutively. The only difference is the number of races; for pick 4, the horse has to win four races consecutively.
- Pick 6. It offers a huge payoff, and you have to choose a horse that will win six consecutive races. Although, it can be pretty expensive to play.
Where Can You Place Your Bets?
Now that you know the types of bets, you can now place them! Let’s discuss how and where you can bet on the Preakness Stakes this May.
At the Pimlico Racecourse
You can buy tickets to watch at the Pimlico Racecourse this May? Then you can place your wagers at the venue itself in their betting windows or kiosks! Here, they have tellers to explain the available options and how much you can bet on them. Placing your wagers in these windows or booths is exceptionally seamless.
You Can Bet Online!
Don’t want to travel to Maryland? No worries! You can place your bets anywhere in the world with the help of the Internet. Today, there are numerous betting websites that you can trust to handle your money. Look for a website that suits your needs; it can be fast and straightforward deposits and easy to navigate.
You can easily download an application in your App Store or Play Store to download betting applications. If you prefer to use your phone for betting websites, you may find mobile options much easier to handle. This option is highly functional, and you can bet on the Preakness Stakes without much hassle.
Now that you know the critical information there is to know about the Preakness Stakes betting, you can now easily place your bets. If you’re still unsure how to bet on the race, you can continue doing your research. It’s beneficial for bettors to do their research before placing bets. Doing otherwise can just put your money down the drain.