Preakness Betting Guide: California Chrome Rolls Into Baltimore (También en Español)

The Preakness is a great chance to make some winning wagers. (Photos by Eclipse Sportswire)

California Chrome is who we thought he was. Now our 2014 Kentucky Derby winner is in position to make history. 

Leg two of the Triple Crown is the Preakness Stakes, run two weeks after the Kentucky Derby on the third Saturday in May at Pimlico Race Course in Baltimore, Maryland. 

The Preakness purse is $1.5 million. The distance of 1 3/16 miles is slightly shorter than that of the Kentucky Derby and the turns at Pimlico are tighter than the ones at Churchill. 

In a way, the Preakness is the most important of the Triple Crown races. 

If California Chrome wins the Preakness, in three weeks the eyes of the world will be on Elmont, N.Y, where, in the Belmont Stakes, he would attempt to become the first Triple Crown winner since Affirmed way back in 1978. 

If California Chrome fails in his run for the Black-Eyed Susans, the Belmont will still be a fantastic race, but the historical significance will be lacking.

Half of the last 16 Kentucky Derby winners have gone on to win the Preakness, too, but not one of those completed the Triple Crown mission by capturing the Belmont. 

Unlike the Kentucky Derby, which allows up to 20 starters, Pimlico limits the Preakness field to 14 and many years the gate isn’t completely full. Just ten horses are on the “probable” list this year. 

Favorites often win the Preakness and longshots rarely do. Ten of the last 13 Preakness winners closed at odds of 3-to-1 or less and seven of those were the post-time favorite.

Last year, Oxbow’s score at odds of 15-to-1 was somewhat of an exception. To put it into context, he was just the fifth Preakness winner since 1911 to win at 15-to-1 or higher. 

Shackleford won at 12-to-1 in 2011, and Bernardini was the same price when he scored in 2006, but that was the year the heavily favored Kentucky Derby winner Barbaro was tragically injured. 

Despite the short two-week turnaround, the Kentucky Derby is still the main steppingstone to the Preakness. Eight of the last 10 Preakness winners exited the Kentucky Derby, and remember in 2009, the filly Rachel Alexandra, similarly had a quick turnaround off her romp in the Kentucky Oaks against fellow females. 

Rachel Alexandra became the first filly since 1924 (Nellie Morse) to win the Preakness. This year Breeders’ Cup Juvenile Fillies champ Ria Antonia, who was last seen finishing a distant sixth in the Kentucky Oaks, throws her hat into the ring. 

In the last 32 years, only three Preakness champs did not exit the Derby, or the Oaks, in the case of Rachel Alexandra - Bernardini in 2006, Red Bullet in 2000 and Deputed Testamony in 1983. 

Now that we have a little Preakness history, let’s turn our attention to social enjoyment. 

The Kentucky Derby is much more of a national event, but locally the Preakness is every bit the party. 

The dress: Big hats and dresses for the ladies, fedoras and colorful sport coat/dress slacks ensembles for the gentlemen.  

The food: Crab cakes! 

The drink: Black-Eyed Susan served in a traditional Preakness glass
1 1/2 ounces of Finlandia Vodka
1/2 ounce of St. Germain
2 ounces of pineapple juice
1/4 ounce of lime juice
3/4 ounce of orange juice
Garnish with fresh orange slice

The song: Soon after the call to post, the United States Naval Academy Glee Club will perform the official state song “Maryland, My Maryland”.

The fun: There is no question the Preakness is an event worth attending in person. There is something for everyone, from the InfieldFest complete with a “mug club” and concerts - Lorde and Counting Crows, among others, Friday and Saturday - to fine dining in the Hall of Fame Room, Sports Palace or Terrace. 
If you’re a baseball fan, Oriole Park at Camden Yards is 20 minutes away and Nationals Park is less than an hour. 

Cool bets to consider: 
Friday, May 16 - Black-Eyed Susan day 

Late All-Stakes Pick 4 (races 9-12) guaranteed pool of $250,000
Stakes Double - Pimlico Special (Friday)/Preakness (Saturday)
Preakness Pick 3 – Pimlico Special (Friday), Dixie and Preakness (Saturday)

Saturday, May 17 – Preakness day 

Early Pick 4 (races 5-8) guaranteed pool $350,000
Late Pick 4 (races 9-12) guaranteed pool $1.5 million
Jackpot Pick 5 will have a MANDATORY payout on Preakness Day. The pool stands at $118,637 entering Thursday’s racing program.

The broadcasts

Friday, May 16, 2014 
3 p.m. ET: Preakness Classics, NBC Sports  
4 p.m. ET: The Black-Eyed Susan Stakes, NBC Sports Network and Live Extra 

Saturday, May 17, 2014 
1 p.m. ET: Preakness Saturday, NBC Sports Network and Live Extra
4:30 p.m. ET: Preakness Stakes, NBC and Live Extra
6:30 p.m. ET: Preakness Post-Race Show, NBC Sports Network and Live Extra

If you’re throwing a Preakness party, print out horse profiles and/or past performances for your guests. Throw all the names in a hat and run a pool.  

Making a bet on the Preakness but don’t want to deal with long lines and mayhem? 

Wager a day in advance! The pools will open on Friday, so you can wager at your local track, OTB or even online by opening an advance-deposit-wagering account (it’s free and easy!). 

You can even calculate your bets before you step up to the window here.

If you’re wagering on the Preakness, there is one simple question you must ask yourself.

Are you rooting for and/or betting on California Chrome because you love him and want to see him head to New York with a Triple Crown on the line or are you seeking out value and playing against him?

BEGINNER
On-track advice 

If you're hanging out in the infield and need some guidance, visit the Wagering 101 tent. Industry experts are on hand to answer any question that you might have, from simple to complex, and also help maximize your betting dollar. 

It’s all in the name!

If you cashed a ticket on California Chrome in the Kentucky Derby, chances are you have a sentimental attachment and are going to stick with him.

If not, perhaps you prefer a hunch play.

Did you or someone who know recently get engaged? Perhaps Ring Weekend is your horse. 

Is your name Paul and do you love fruit snacks? Maybe you should go with Pablo Del Monte. 

You get the picture!

Bet the connections! 

A female rider has never won the Preakness Stakes. Rosie Napravnik began her career in Maryland and, because of her local connection, she has stated publically that winning the Preakness would be every bit as exciting to her as capturing the Kentucky Derby. She’s slated to ride Bayern for trainer Bob Baffert, who has already won the Preakness five times! 

Local horses don’t often win the Preakness, but they do sometimes sneak into the gimmicks at a big price. Horses like Scrappy T (2005), Magic Weisner (2002) and Oliver’s Twist (1995) were local horses who all ran second at big odds. 

This year Kid Cruz is the only horse to have previously run at Pimlico, winning the Federico Tesio Stakes, the local prep for the Preakness, on April 19. Ring Weekend is based in Maryland at Fair Hill Training Center.

Maximize your money – budget $35! 

Are you for or against California Chrome? 

Because of his high profile for winning the Kentucky Derby, his odds in the win pool are going to be even lower than they should be.

If you like California Chrome and want to bet on him, diving into the win, place and show pools is probably not the way to go. 

Pick two other horses you like and prioritize them. Bet two exactas with Chrome on top, one for $25, the other for $10. 

If you’re against the favorite and think there’s a chance he might not even finish in the top three (last year’s Kentucky Derby winner Orb finished fourth), play the horse you like best $5 to win, $10 to place and $20 to show. 

If you’re playing with a smaller budget but are a bit more of a risk taker, take your best three horses and play a $5 exacta box = $30. Take the other $5 and bet a cold combination with your favorite duo. 

INTERMEDIATE

Preakness week buzz!

With only two weeks between the Kentucky Derby and the Preakness, don’t be alarmed if the horses that ran in Louisville don’t log a published work between races. That being said, pay attention to horse experts who are on the grounds in Baltimore. How do they assess the physical condition of the contenders? Do they remain bright-eyed or have they lost a little weight? 

Beauty contest! 

Not only did California Chrome look the best on paper in the Kentucky Derby, he also made the best appearance in the post parade. Look for the horse, or horses, who project controlled energy. 

Maximize your money – budget $60!

If you’re FOR California Chrome, key him on top of the exactas, or perhaps dive into the trifecta or even the superfecta pools. 

You can play a trifecta for as little as 50 cents, and unlike the Kentucky Derby where the minimum superfecta bet is $1, it’s only a dime for the Preakness. 

If you’re FOR Chrome, key him on top of the trifecta and/or superfecta with multiple horses underneath. If you like Chrome but aren’t convinced he’ll win, perhaps keying him in SECOND is the way to go. 

If you’re against the Derby winner, use your favorite horses in first and second and perhaps relegate the favorite to only the third and fourth (if you’re playing a superfecta) spots. 

Learn more about intra-race wagering here.

EXPERT

Do your homework!

Analyze the Kentucky Derby replay. Ride On Curlin and General a Rod both had road trouble and that’s a big part of the reason they’re in Baltimore. With half the number of horses targeting the Preakness, traffic won’t be nearly as prevalent.

If you’re a true horse racing fanatic, print the past performances in advance, watch the prep races of the new shooters, research the pedigrees, read the workout reports and what the experts have to say, and try to create a pace scenario and visualize how it will all play out in your head.
Maximize your budget – budget $100 and up!

If you’re on the California Chrome bandwagon, hammer the exactas with your next two choices, or play multiple trifecta or superfecta tickets keying him on top and perhaps second with the other horses you like.

Always wager in the smallest increment possible.

If you want to play a trifecta combination for $2, bet it for 50 cents four times.

If you want to play a superfecta combination for $1, bet it for 10 cents ten times.

You can calculate a ticket here.

Final Thought

As horse racing fans, most of us would love to see California Chrome win the Preakness and head to the Belmont with immortality in his cross hairs.

If you’d rather cash a big ticket than root for history, keep in mind that following his scintillating Kentucky Derby win last year, Orb was hailed as racing’s messiah.

Obviously, that didn’t work out so well.