2021 Preakness Stakes Odds: Medina Spirit, Midnight Bourbon Lead Way

Preakness Stakes odds are up for the second leg of the 2021 Triple Crown season. Here are current Preakness Stakes odds for Saturday, May 15.

Last Updated: May 15, 2021 5:10 PM ET
Midnight Bourbon Preakness Stakes
Photo By - USA TODAY Sports

The Triple Crown run continues for 2021, with Preakness Stakes odds on the board ahead of the May 15 running. The morning-line favorite to win the Preakness Stakes was no surprise, after Bob Baffert's Medina Spirit took home the Kentucky Derby, but Friday afternoon brought significant change to the Preakness odds board. 

With the full field set and the post-position draw finished, here are the current odds to win the Preakness Stakes. 

Preakness Stakes 2021 odds


Horse Odds to win  Post Position
Midnight Bourbon 5/2 5
Medina Spirit 3/1 3
Concert Tour 4/1 10
Crowded Trade 8/1 4
Unbridled Honor 11/1 8
Keepmeinmind 12/1 2
Ram 12/1 1
Rombauer 12/1 6
Risk Taking 12/1 9
Franco Go de Ina 21/1 7
Preakness Stakes sharp money and line movement report
By Patrick Everson

Latest Preakness Stakes betting action

UPDATE 5:15 P.M. ET SATURDAY: About 90 minutes before Preakness post time, parimutuel odds continue to have Midnight Bourbon the 5/2 favorite, Kentucky Derby winner Medina Spirit the 3/1 second choice and Concert Tour the 4/1 third choice. But Ed DeRosa, director of marketing for TwinSpires Racing, thinks a significant odds shift will come shortly, particularly for horses a little further down the odds board that he believes are priced well too short, such as Ram at 12/1.

"I think we're gonna see a big correction after Race 12 at Pimlico," DeRosa said, alluding to the race just prior to the Preakness. And the reason he feels a correction coming is because he believes the reporting of parimutuel betting is lagging well behind. "Think of it as early returns on election night. Votes haven't been turned in yet. I can't believe Ram is 12/1 this late in the game. There's no zest to bet that horse."

Should that correction come, he thinks there will be much more separation between the top three choices and the other seven in the 10-horse field. And he's still baffled by Midnight Bourbon being the chalk.

"Midnight Bourbon being the favorite blows me away. The thought that the public thinks he's the most-likely winner just astounds me," DeRosa said, who said he still rates Medina Spirit first, Concert Tour second and Midnight Bourbon third. "If Midnight Bourbon goes off the favorite, that'd be the worst favorite in a Triple Crown race that I've ever seen."

Favorite to win the 2021 Preakness Stakes 

Medina Spirit, with jockey John Velazquez, won the Kentucky Derby to begin the month, and as a result, was the morning-line betting favorite to win the 2021 Preakness Stakes at 9/5. Concert Tour was the No. 2 choice in parimutuel wagering at 5/2, followed by Midnight Bourbon at 5/1.

However, by Friday afternoon at Pimlico, Midnight Bourbon took over as the 5/2 favorite, where he remains Saturday afternoon. Medina Spirit is the 3/1 second choice and Concert Tour the 9/2 third choice.

Odds of past Preakness Stakes winners

Here are the winners of the Preakness Stakes since 2002, their post positions, and their morning line odds.   

Year Preakness Stakes Winner Post Position Morning line odds
2020 Swiss Skydiver 4 11/1
2019 War of Will 1 4/1
2018 Justify 7 1/2
2017 Cloud Computing 2 12/1
2016 Exaggerator 5 3/1
2015 American Pharoah 1 4/5
2014 California Chrome 3 3/5
2013 Oxbow 6 15/1
2012 I'll Have Another 9 5/2
2011 Shackleford 5 12/1
2010 Lookin At Lucky 7 3/1
2009 Rachel Alexandra 13 8/5
2008 Big Brown 6 1/5
2007 Curlin 4 7/2
2006 Bernardini 8 8/1
2005 Afleet Alex 12 6/5
2004 Smarty Jones 7 2/5
2003 Funny Cide 9 1/1
2002 War Emblem 8 3/1

Where can I bet on the Preakness Stakes?

This all depends on where you live. If you’re in the USA, betting on the Preakness Stakes online isn’t as simple as simply launching your favorite sportsbook app. Instead, you’ll have to use a specialist-pooled horse racing betting site such as TwinSpires.

Those in Canada or the UK have it much easier as most sports betting sites offer horse racing markets. Take a look at the top horse racing betting sites available in your area.  

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