The 2014 Preakness is on the horizon, and those looking to make the race interesting by placing a wager can bet online and get some tips from the racing experts.
The 139th Preakness Stakes will take place Saturday at Pimlico in Baltimore, with nine challengers looking to take on California Chrome. Post time for the race is 6:18 pm.
Like the Kentucky Derby, the second leg of the Triple Crown has a clear-cut favorite. California Chrome was picked by most experts to win the Derby— and delivered with a victory several lengths ahead of the pack — and is again a favorite in the Preakness.
Those looking to bet on the 2014 Preakness online have some options, but may be worried whether online betting is legal.
While online betting is still a gray area, most experts agree that horse racing appears to be the exception. The United States has been cracking down on other forms of online gambling, but authorities seem to have carved out a place for horse racing.
“It’s certainly closer to legal. Anything associated with horse racing tends to be legal,” said Joseph Kelly, professor of business law at SUNY College at Buffalo and co-editor of the Gaming Law Review, in an interview before the Kentucky Derby.
Kelly said the biggest concern for online bettors is whether a site is legitimate and will be able to pay off. Luckily, the Preakness Stakes itself takes out some of the guess work of betting on the race, offering a link on its website to XPressbet, an officially sanctioned site to bet on the race.
Those interested in betting on the Preakness may be able to follow the same formula used in the Kentucky Derby. The frontrunner as of the day before the race is California Chrome, who comes in at 3-5 odds to win the second leg of the Triple Crown.
Another favorite is Social Inclusion at 5-1 odds. No other horse has better than 10-1 odds.
Experts say people looking to make some money will have a better chance in the Preakness, which has a smaller field of competitors than the Kentucky Derby.
Jon Fauber of PennLive.com wrote that the horses running in the Kentucky Derby may have an advantage.
“History will be on the side of the three Derby runners, California Chrome, Ride On Curlin, and General A Rod,” he wrote. “California Chrome may have a lot going for him, but there is one statistic that may bode well for his opponents. Since 1984, 17 of the 30 winners of the Preakness Stakes have been losers from the Kentucky Derby. Fortunately for California Chrome, eight of the last 17 Preakness winners have been Derby champions.”
A detailed guide to betting the Preakness Stakes can be found here. Those looking to bet on the race online can click here.