The second leg of the Triple Crown ran at Pimlico Race Course in Baltimore on May 20. That was the good news for the Preakness Stakes. But there’s bad news too. Total betting fell 16.4 percent compared to last year. Part of the blame fell on a shortened field.
The Preakness drew seven horses this year, compared to nine in 2021, leading to a decline in all pools. In addition, almost all multi-race bets linked to the Preakness experienced double-digit drops. Traditional pick 5 linking the Preakness to the four preceding races declined 75.4 percent, according to the Daily Racing Form.
- Betting in the straight pools: declined 4.7 percent.
- Betting in the exacta pool: dropped 12.7 percent.
- Betting in the trifecta pool: dropped 20.0 percent,
- The superfecta pool: dropped 36.7 percent
- Super Hi-5: dropped 27.0 percent.
On the plus side, betting on the races preceding the Preakness rose 13.7 percent ahead of last year’s card going into the race, in part because the track added three pick-5 bets to the menu and linked another two pick-5 bets from Friday’s card into Saturday’s card.
Wagers rose double-digits for the James W. Murphy Stakes, held just before the Preakness. Handle on the last race for Arabian horses rose 9.8 percent.
The three pick-5 bets ending in the Preakness handled $1.3 million, way less than the $3.3 million in the single pick-5 ending in the Preakness a year ago.
Adding up all the pools, Preakness wagers fell from $65.3 million to $54.6 million. The record Preakness handle was set in 2021, when the total amount bet was $68.7 million, meaning the two-year decline was 20.5 percent.
