Preakness Stakes 2025 Betting Odds and Predictions

The Triple Crown chase took a hard left when Sovereignty’s team pulled the plug on Pimlico running. The Derby winner is resting his hooves for Belmont, which makes the 2025 Preakness Stakes any horse’s race, and bettors are freaking out trying to rework their strategies. The second jewel of the Triple Crown might not have a shot at history, but it’s still a race worth watching—and betting on!

There’s a slim but really interesting field of nine horses running, and they include a couple of Derby runners that are looking for redemption, some new faces with promise, and an overwhelming favorite who still has something to prove. We are gonna break down everything that you need to know before Saturday’s race, like who’s in, who’s out, what the betting market looks like, and where the sharp money is beginning to land.

2025 Preakness Stakes Overview

• Date & Time: Saturday, May 17. The main race is scheduled for 7:01 pm ET.
• Location: MadPimlico Race Course, Baltimore, Maryland
• Broadcast: Pre-Race Coverage starts at 2:00 pm ET on CNBC and Peacock, and NBC and Peacock will have live coverage starting at 4:00 pm ET.
• Distance: 1 3/16 miles (9.5 furlongs)
• Purse: $2 million

Who’s in the Stable and Not on the Track

Sovereignty, the Kentucky Derby winner, will not be running in the Preakness. Trainer Bill Mott confirmed they’re bypassing Baltimore to give the colt more time to rest before Belmont. That takes the Triple Crown storyline off the table, but it also turns Pimlico into a tactical track. Since there is no clear frontrunner, value plays become much more interesting, and, TBH, a little more dangerous.

The Field: 2025 Preakness Horses and Odds

Below is a look at the nine contenders that will break from the gate at Pimlico, the morning-line odds, and the trainer/jockey info!

The Contenders

There are three horses from the Kentucky Derby competing in the Preakness, but are any of them worth backing? The following is where FanDuel currently has the odds going into the race.

Journalism (8-5)

• Post Position: 2
• Trainer: Michael McCarthy
• Jockey: Umberto Rispoli
• Notable Stat: Finished 2nd in the Kentucky Derby

With Sovereignty out, Journalism becomes the de facto headliner. He nearly pulled it off at Churchill and has the stamina to thrive over 1 3/16 miles. The biggest question? How he handles the quick turnaround. He’s never run two tough races this close together. But if you’re betting on talent alone? Journalism checks every single box.

Sandman (4-1)

• Post Position: 7
• Trainer: TBD
• Jockey: TBD
• Notable Stat: Finished 7th in the Kentucky Derby

Sandman didn’t wow anyone in Louisville, but he didn’t eat dust, either. He’s got a strong stride and better tactical speed than most in this field. If the pace is honest and the trip is clean, he’s got a path to the podium.

Clever Again (5-1)

• Post Position: 8
• Trainer: Steve Asmussen
• Jockey: Jose Ortiz
• Notable Stat: Son of American Pharoah

Bettors are circling Clever Again as a classic “lightbulb horse,” aka the kind who breaks out at just the right moment. His workouts have been good, and being on the outside might give Ortiz room to maneuver. He hasn’t faced Derby-caliber competition, but the pedigree and form are both there.

River Thames (9-2)

• Post Position: 6
• Trainer: Todd Pletcher
• Jockey: TBD

River Thames skipped the Derby but is trained by a guy who knows how to prep horses for Triple Crown moments. His win in the Blue Grass was solid but not explosive. That being said, his tactical speed and closing gallop could be dangerous if things get close up front.

Goal Oriented (6-1)

• Post Position: 1
• Trainer: Bob Baffert
• Jockey: TBD

Baffert’s back in the Preakness, and that alone makes people sit up and take notice. Goal Oriented hasn’t turned heads with any big finishes so far, but if the rail holds and he breaks well, he could be right in the mix. He’s a wild card with one of the sport’s top minds in his corner.

Gosger (20-1)

• Post Position: 9
• Trainer: Brendan Walsh
• Jockey: Luis Saez

The Lexington Stakes winner will have fans looking for a big payout. He’s game, and he knows how to run through traffic. Expect Gosger to sit mid-pack and then make one strong push. He’ll need things to break right, but he’s not a throwaway in exotics.

Long Shots: Heart of Honor, Pay Billy, and American Promise

They’re all long shots for a reason. American Promise did run in the Derby but was never a threat. Heart of Honor and Pay Billy have fresh legs, but not much form to suggest that they’re ready to take on Journalism, Sandman, or Clever Again.

Prop Bets & Exotic Wagers: Where the Real Preakness Payouts Live

The Preakness is pretty light on field size this year, but that doesn’t mean the betting menu is a boring one. With a smaller pack and no Triple Crown pressure? The exotic bets and prop options are where things will get really interesting.

Exotic Bets and Where They Could Pay Off

Exotic wagers are bets involving multiple horses, and the payout can be huge, but only if you nail it.

Prop Bets Worth a Look

Not every sportsbook posts prop bets for the Preakness, but when they do, they usually include the following:

• Winning Time Over/Under: Usually set around 1:54.00
• Winning Margin: Bettors can pick whether the race will be won by a nose, neck, length, or more
• Head-to-Head Matchups: Like Journalism vs. Sandman—who finishes ahead?
• Top Finishing Trainer or Jockey: Especially if you’re backing a big name like Baffert, Pletcher, or Asmussen
  

FYI: Props and exotics are where the books try to balance recreational money and sharp action. If Journalism gets hammered in the win pool, the smart angle could be finding a way to beat him in one of the above formats.

Odds Comparison: Where to Bet for the Best Value

Here’s how the top contenders are currently priced across FanDuel, DraftKings, and BetMGM, but this could change, so check the sportsbooks for the latest numbers:

Best Price Tips:

– Want to back Journalism? FanDuel has the best payout at +160.
– Betting Gosger? BetMGM is giving the most value at +2200.
– DraftKings seems to be a little tighter on top-tier odds, so it might not be ideal unless you’re parlaying props.

If you’re betting online, it’s always worth shopping around. Even a small difference like +150 vs +160 can change your payout if you’re building exactas or trifectas.

The Horse Experts: Who’s Backing Whom?

There are a few experts whom we trust, and their opinions on the horses to back are worth listening to!

Jody Demling (CBS Sports)

Demling, who’s hit 10 of the last 20 Preakness winners, likes Journalism but isn’t locking him in as a solo play. He’s floating a trifecta box that includes Clever Again and Gosger, pointing to value in exotics rather than betting chalk.

Michelle Yu (Racing Analyst)

Yu isn’t sold on Journalism handling the turnaround. She’s backing a “heavy on the gas” long shot, though she hasn’t publicly revealed her final ticket. She tends to fade the favorites in races when there isn’t a clear pace setup, and that makes River Thames and Gosger potential targets.

Final Thoughts: Betting Angles & Strategy

Before we finish up, here are a few things you need to know before you place a bet:

• Sovereignty is out, so no Triple Crown shot.
• Journalism is the early favorite, but others like Sandman, River Thames, and Clever Again are gaining steam.
• The field includes three Derby runners: Journalism (2nd), Sandman (7th), and American Promise (16th).
• Baffert’s Goal Oriented could be a sleeper from the rail.
• Long shots like Gosger are worth considering for value bets.

Without a Triple Crown on the line, the Preakness is a bettor’s race. The field is smaller, but the unpredictability will be higher than usual.

• Favorites to Watch: Journalism (if you trust the bounce isn’t coming), Sandman (sneaky strong in the Derby), and Clever Again (late bloomer with strong connections).
• Live Long Shots: Gosger for your trifecta box, or maybe even a small across-the-board play.
• Fades: Pay Billy and Heart of Honor don’t have the resume or backstory to make much noise—unless you’re throwing darts in a superfecta.

If you are looking to place some bets on this year’s Preakness, be sure to check out our list of the most trusted horse racing betting apps to ensure you get the best odds and quick payouts.