As we approach the weekend, horse racing fans will be asking themselves – which horse will win the 2023 Preakness Stakes – the second leg of the US Triple Crown – this Saturday at Pimlico? We’ve got the latest betting odds and have converted these prices into the win percentage chance for each horse.
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Which Horse Will Win The 2023 Preakness Stakes According To The Betting?
With that in mind, we take a look at the latest betting as we now know there are 8 Preakness Stakes runners declared to run.
The best US sportsbooks have priced up the big “The Run for the Black-Eyed Susans” too and we can use these Preakness Stakes odds to work out the percentage chance of each one actually winning Saturday’s second US Triple Crown race.
US Sportsbooks Give Mage a 57.9% Of Winning The Preakness Stakes
This year’s Kentucky Derby winner Mage will be the headline act on the Pimlico Preakness Stakes card this Saturday as the improving 3 year-old looks to continue his Triple Crown quest.
Mage will be looking to become the 24th horse to win just the Kentucky Derby and the Preakness Stakes, plus also dream alive of being the 14th US Triple Crown winner as the bandwagon after Pimlico heads to the Belmont Stakes on June 10.
When he won the Kentucky Derby he returned 152/10 in the betting, but the best horse racing betting sites are taking no chances this time as he’s around the 8/11 mark (with First Mission now scratched) which would mean he’s got a 57.9% chance of winning the Preakness Stakes on Saturday.
RELATED: 2023 Preakness Stakes Trends: Key Stats To Help Find The Pimlico Winner
When is the Preakness Stakes 2023?
The 2023 Preakness Stakes will be run on Saturday May 20 at Pimlico racetrack.
📅Time/Date: 7:01pm (ET), Saturday May 20, 2023
🏇Racecourse: Pimlico, Baltimore, Maryland
💰 Purse/Winner: $1.5m / $900,000
📺 TV: NBC and Peacock
🎲 Preakness Stakes Odds: Mage 8/11 | National Treasure 9/4 | Blazing Sevens 7/1
Does The Preakness Stakes Favorite Have a Good Record?
With Mage set to go off as the Preakness Stakes favorite let’s look at the record of the market leaders in the Pimlico race.
82% of the last 11 market leaders in the race were placed – including last year’s favorite Epicenter, who was 2nd.
Of those 82% (9 horses) placed, we’ve seen three winning Preakness Stakes favorites, with California Chrome (2014), American Pharoah (2015) and Justify (2018) the three horses in question.
2023 Preakness Stakes Betting and Bookmaker Winning Percentage Chance
See below the latest Preakness Stakes odds and the calculated winning percentage based on these prices.
| Horse | Odds | % Winning Chance |
| Mage | 8/11 | 57.9% |
| National Treasure | 9/4 | 30.8% |
| Blazing Sevens | 7/1 | 12.5% |
| Red Route One | 20/1 | 4.8% |
| Perform | 20/1 | 4.8% |
| Coffeewithchris | 50/1 | 2% |
| Chase The Chaos | 80/1 | 1.25% |
Note: Odds are subject to change
RELATED: 2023 Preakness Stakes Colors and Jockey Silks: What Color Is My Preakness Stakes Horse?
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