Here’s How to Bet the Preakness Stakes in Colorado

how to bet the preakness in colorado
Photo Credit: Craig Dudek

The Preakness is finally here this weekend and there is a little bit of drama following the controversial Kentucky Derby outcome. Colorado bettors can wager on “The Middle Jewel of the Triple Crown” this weekend.

Colorado is one of 31 states where online horse racing betting is legal. TVG is among the best of the best when it comes to horse racing and it is the top option for bettors in Colorado who want to bet on the Preakness.

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Whether you are a seasoned horse racing bettor or brand new to the sport, TVG is the best place to go for your Preakness betting needs. After a thrilling finish in the Kentucky Derby, there is plenty of juice surrounding this next Triple Crown race.

Click here to grab a risk-free bet of up to $300 to use on the Preakness at TVG.

You Can Bet on the Preakness Stakes in Colorado

Residents of Colorado know that sports betting is nothing new in the state. Lawmakers legalized online sports betting in 2019 and sportsbooks like DraftKings, FanDuel, BetMGM, and FOX Bet, among others, launched in May of 2020.

With all that said, online horse racing betting has been going on in states for much longer. TVG is the premier destination for horse racing and users in Colorado can get in on the action via the app or desktop website. Colorado is one of 31 states that allow for online wagers on horse racing.

How To Bet the Preakness Online in Colorado

The Preakness is set to take place at the historic Pimlico Race Course in Baltimore, Maryland. However, bettors don’t need to be at a betting window in Baltimore to win big on this race. All it takes is an internet connection and access to TVG to get in on the action.

Plenty of Colorado bettors are already familiar with the process for online sports betting. Downloading the TVG app and creating an account is similar to the process that users would undergo to sign up with DraftKings, FanDuel, PointsBet, etc. In fact, TVG is FanDuel’s sister app. Follow these simple steps to create an account and place a wager on the Preakness today:

  1. Sign up with the TVG app by clicking here.
  2. Make an initial deposit using any of the available banking methods (bank transfer, debit/credit cards, PayPal, etc.).
  3. Place your first bet risk-free up to $300.

Betting On Horse Racing

Betting on horse racing is much different from major sports like football, baseball, or basketball. However, it shouldn’t take long to get the hang of it. TVG is accessible for experienced horse racing bettors and complete novices alike.

There are no spreads, moneylines, or over-unders here. Let’s take a look at some of the most popular ways to bet on horse racing:

Win, Place, Show

Betting on horses to win, place, or show is probably the most basic way to bet on the horses. Win, place, and show denote first, second, and third place in the race.

  • Win: You win if the horse you pick finishes first.
  • Place: This bet hits if the horse you pick finishes in first or second place.
  • Show: Show bets hit on horses that finish in first, second, or third place.

Again, this is the easiest and most straightforward way to bet on the Preakness.

Exotic Bets

Win, place, or show is easy to understand. If your horse finishes first, second, or third, you win. However, there are “exotic” bets that can spice things up. Exotic bets are horse racing parlays that have the potential to turn into massive payments.

There are two kinds of exotic bets in horse racing — horizontal and vertical. Horizontal betting is when a user parlays multiple horses to win across multiple races. This is very popular for players who are at the racetrack.

However, for a big race like the Preakness, vertical betting is going to be the more popular choice. Vertical bets are when a user picks multiple horses to win, place, or show in the race.

Let’s take a look at exactas, trifectas, and superfectas:

  • Exacta: This bet wins when the bettor accurately predicts the win and place in a race.
  • Trifecta: Surprise, surprise. Trifectas hit when a bettor accurately calls the win, place, and show.
  • Superfecta: The superfecta hits when a bettor hits on the first four horses to finish a race.

The payouts can vary because it all depends on how much total money is on each horse. Players won’t know the potential payouts on horses until all bets are in.

Players also have the option to “box” their exactas, trifectas, and superfectas. This just means that the horses you pick can finish in any order. For example, if you choose Horse A to win and Horse B to place in a boxed exacta, you win as long as those horses finish 1-2 in either order.

Preakness Odds

There has been plenty of drama surrounding this race after Kentucky Derby winner Medina Spirit tested positive for a banned substance, jeopardizing the victory and the legacy of trainer Bob Baffert.

Still, Medina Spirt enters as the favorite to win the 2021 Preakness Stakes.

Here are the current Preakness odds:

Horse Odds Trainer / Jockey
Ram 30-1 D. Wayne Lukas / Ricardo Santana
Keepmeinmind 15-1 Robertino Diodoro / David Cohen
Medina Spirit 9-5 Bob Baffert / John Velazquez
Crowded Trade 10-1 Chad C. Brown / Javier Castellano
Midnight Bourbon 5-1 Steven M. Asmussen / Irad Ortiz Jr.
Rombauer 12-1 Michael W. McCarthy / Flavien Prat
France Go de Ina 20-1 Hideyuki Mori / Joel Rosario
Unbridled Honor 15-1 Todd A. Pletcher / Luis Saez
Risk Taking 15-1 Chad C. Brown / Jose Ortiz
Concert Tour 5-2 Bob Baffert / Mike Smith

 

Preakness Favorites

Despite the anti-inflammatory controversy surrounding Bob Baffert and Medina Spirit, the Kentucky Derby winner is still the favorite (9-5) entering the Preakness. Johnny Velazquez will be the jockey for Medina Spirit once again. Velazquez is one of the most accomplished jockeys in horse racing history, but he is still searching for his first Preakness win.

Another Baffert horse, Concert Tour (5-2), is another one of the favorites to win this weekend. The rich get richer it seems.

Longshots

At 30-1, Ram is the longest shot to win the Preakness this weekend, but with such a small field, anything can happen. France Go de Ina (20-1) is another horse that could bring a massive payout for bettors if it shocks the world.

Click here to grab a risk-free bet of up to $300 to use on the Preakness at TVG.

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