How to bet the Preakness Stakes: Late odds, contenders, posts, horse racing gambling terms explained

Who wins the Preakness Stakes? And what huge long shot hits the board hard? Visit SportsLine now to get Jody Demling's Preakness winner, see which huge long shot contends, and get the finish positions for every single horse, all from the man who's nailed 8 recent Preakness winners.  

Want to get in on the action at the Preakness Stakes but you aren't exactly sure how it all works? Well, you've come to the right place. The Preakness is the second and shortest leg of the Triple Crown events and, while it may not have the same level of glamour and pageantry of the Kentucky Derby, it's still one of the biggest and more lucrative events on the horse racing calendar. 

If you're looking to get in on the betting action this year, the process and the terminology can be a bit confusing to the less experienced bettors, so we're here to give you the information you need to know to have yourself a good ol' day of betting on the ponies.

For the novice, there are pretty simple wagers. But, with the second leg of the Triple Crown being one of the biggest racing events on the calendar, there's also more opportunity to divulge in more exotic bets, in which the payouts can be huge. 

An important disclaimer, though: Knowing the terminology doesn't guarantee you success in your wagers. Sometimes, ignorance is bliss ... and profitable.

Anyway, here's a rundown of the terms you'll want to be familiar with.

BET TO WIN: Well, this one is pretty self-explanatory. You're betting on a horse to win the race.
BET TO PLACE: You're betting on a horse to finish either 1st or 2nd in the race.
BET TO SHOW: You're betting on a horse to finish either 1st, 2nd or 3rd in the race.
EXACTA: You're betting on both the 1st and 2nd place finishers in a race.
TRIFECTA: You're betting on the 1st, 2nd and 3rd place finishers in a race.
SUPERFECTA: You're betting on the 1st, 2nd, 3rd, and 4th place finishers in a race.
DAILY DOUBLE: You're betting on the winners of two separate races.
PICK 3: You're betting on the winners of three consecutive races.
PICK 4: You're betting on the winners of four consecutive races.
PICK 5: You're betting on the winners of five consecutive races.
PICK 6: You're betting on the winners of six consecutive races.

Obviously, some of those are more challenging endeavors than others so, as is always the case with gambling, play the odds at your own peril. 

Now that you've got an understanding of the terminology, you're going to want to brush up on the odds and which horses are considered favorites. Here's a complete look at the 2018 Preakness Stakes post positions and morning-line odds:

Post draw, odds

POSTHORSEODDS

1

Quip

12-1

2

Lone Sailor

15-1

3

Sporting Chance

30-1

Diamond King

30-1

5

Good Magic

3-1

6

Tenfold

20-1

7

Justify

1-2

8

Bravazo

20-1

Pete Blackburn is from Boston, so there's a good chance you don't like him already. He has been a writer at CBS Sports since 2017 and usually aims to take a humorous and light-hearted approach to the often... Full Bio

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