How to bet Preakness Stakes 2024: Horses, odds, favorites, tips

Kentucky Derby Mystik Dan was the second-choice to win the 149th Preakness Stakes before Bob Baffert-trained Muth was scratched Wednesday morning. Photo by Rob Carr/Getty Images

The second leg of the Triple Crown begins Saturday night at Pimlico Race Track in Baltimore with the 149th running of the Preakness Stakes. The Preakness is the shortest distance of the three Triple Crown races at 10 furlongs (3¹⁄₁₆ miles), meaning speed plays a huge factor in handicapping.

The eight-horse field is much smaller than the Kentucky Derby (20) and the weather report will also be important to monitor, with a 60% chance of rain on Saturday afternoon, according to the National Weather Service. Kentucky Derby winner Mystik Dan will look to become the first horse since Justify in 2018 to win both the Derby and the Preakness in the same year.

Bob Baffert-trained Muth opened as the 8-5 morning-line favorite to win the Preakness but was scratched early Wednesday because of a fever. Mystik Dan opened as the second choice (5-2) and there are plenty of other horses set to contend in Baltimore.

Here is everything you need to know to bet on the 149th Preakness Stakes.