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On Saturday, the Preakness Stakes will be held, marking the second leg of the renowned Triple Crown.
Many Michigan online sports bettors, myself included, will be venturing into horse racing betting for the second time.
I am currently exploring three options to utilize my $10 TVG site credit for placing bets on the upcoming race this weekend.
Please note that the following suggestions are not expert advice, but rather a way to provide you with some options if you choose to participate in the weekend’s activities.
TVG Michigan Preakness Stakes Promo Offer
I did not win any of the bets I placed on the Kentucky Derby. Although I could attribute this to the winner not being among the contenders when I made those bets, I choose not to do so. This is primarily because I am aware that it was my own mistake to place those bets before the field was confirmed.
Thanks to TVG’s sign-up offer, my initial bet of $10 as a win bet was completely reimbursed with $10 in site credit, regardless of the outcome.
The TVG offer is still available for the Preakness, allowing new customers to take advantage of it.
To get started, simply click the button below to register your account using the promo code RISKFREE. Once registered, make a deposit and proceed to place your first bet, up to $200, on a single horse in any race at any track. If luck isn’t on your side and you don’t win, don’t worry! You’ll receive your wagering credit back within 24 hours.
The promotion will only consider the win portion of a win/place, win/show, or win/place/show wager.
Just a friendly reminder, Michigan’s 15 online sportsbooks do not offer horse racing markets. However, Michigan bettors can still access TVG, the largest online operator, as well as TwinSpires and Xpressbet.
You can legally place bets on horse racing at Michigan racetracks, with Northville Downs being the sole remaining one. Located at 301 S. Center St. in Northville, you can make a reservation for the Preakness by calling 248-349-1000.
How to watch the Preakness
- What: 2022 Preakness Stakes
- When: Saturday, May 21
- The event will take place at Pimlico Race Track located in Baltimore, Md.
- Race Surface: Dirt
- The race distance is 1 and 3/16 miles, which is equivalent to 9.5 furlongs.
- Time of post: 7:01 p.m. Eastern Time (ET)
- Broadcast: NBC
- Online viewing: Peacock
- Pre-Race coverage will be broadcasted on CNBC from 2-4 p.m., followed by NBC at 4 p.m.
- The weather forecast predicts temperatures in the low 90s with a slight possibility of showers during the evening.
Placing a Win bet on the Preakness Stakes
The easiest option I have with my spare $10 is to bet it on the person I think will emerge as the victor.
In my previous article about the Kentucky Derby, I emphasized my lack of expertise in horse racing. However, it is evident that many individuals are putting their bets on Epicenter for the victory in this race.
Epicenter was the top pick when the Derby started, and is now a massive favorite with odds of 6-5 for the upcoming Preakness. Assuming the odds remain unchanged, a $10 bet on Epicenter to win would yield a payout of $22, resulting in a $12 profit on top of my initial $10 wager.
While doubling your money is always a good thing, this may seem unexciting but it remains a profitable choice. However, it cannot be compared to the thrill of placing a $10 bet on the underdog Fenwick and winning $500. Naturally, after witnessing Rich Strike’s unexpected victory in the Derby, people will be enticed to take the same gamble.
To make the most of your bet, it is crucial to monitor the odds movement before placing it, regardless of the horse you choose. This will help ensure that the winner is not a late entrant.
Placing a Superfecta Box bet on the Preakness
On the morning line, there are four prominent favorites in this race, namely Epicenter, Early Voting (7-2), Secret Oath (9-2), and Simplification (6-1). These four horses stand out as the sole contenders with odds in the single digits.
If you concur with the oddsmakers’ predictions, you have the option to wager $10 on a Superfecta bet, anticipating the correct order of placement. Despite selecting the favorites, this could result in a substantial payout.
However, if you prefer a smaller potential payout with a more secure wager, you have the option to box the four of them. This means that you will win as long as they finish in the top four, regardless of their specific order.
To accomplish this, you will need to place a $0.40 wager for a combined total of $9.60. This accounts for the 24 potential successful outcomes, with a cost of $0.40 per outcome.
Ideally, I would prefer to include an additional horse in the selection to increase the chances of a safety net or a longshot victory. However, this would result in a total of 120 possible winning scenarios. Given the budget of $10, it is not feasible to cover all these scenarios, even with a minimum bet of $0.10.
Placing a Win/Place bet on the Preakness Stakes
Imagine this scenario: You have a strong desire to place a bet on the underdog, but you find yourself hesitating due to Epicenter’s remarkable speed in a race that is shorter than the Kentucky Derby.
By placing a win/place bet, you essentially put two separate bets on a single horse. For instance, if you wager $5 on Fenwick to win/place, you would be required to pay $10. However, you will emerge victorious if the horse secures either the first or second position.
In the event that your horse emerges victorious in the win/place bet, you will be triumphant in both wagers. However, if it secures the second position, you will forfeit the “win” portion but still emerge victorious in the “place” portion.
The amount you receive from this won’t be as high as a straight-up win bet on the horse since your win bet is reduced by half. However, it still provides you with an opportunity to bet on a longshot and a slight advantage.
Preakness Stakes odds
On Monday afternoon, the post-position draw for the 2022 Preakness Stakes was finalized. Below are the positions and morning line odds for the nine participating horses.
| Post Position | Horse | Jockey | Morning Line Odds |
|---|---|---|---|
| 1. | Simplification | John Velazquez | 6-1 |
| 2. | Creative Minister | Brian Hernandez Jr. | 10-1 |
| 3. | Fenwick | Florent Geroux | 50-1 |
| 4. | Secret Oath | Luis Saez | 9-2 |
| 5. | Early Voting | Jose Ortiz | 7-2 |
| 6. | Happy Jack | Tyler Gaffalione | 30-1 |
| 7. | Armagnac | Irad Ortiz Jr. | 12-1 |
| 8. | Epicenter | Joel Rosario | 6-5 |
| 9. | Skippylongstocking | Junior Alvarado | 20-1 |
