Yes, Betting on the Preakness Stakes Is Legal in Illinois

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Yes, Betting on the Preakness Stakes Is Legal in Illinois

Sports Betting

Unfortunately, Illinois online sports betting is keeping its in-person registration requirement in place for the time being, but the good news is that it is completely legal (and easy) to bet on the Preakness online.

Despite new restrictions in Illinois online sports betting, the state’s bettors can sign up and fully register online to bet on the Preakness Stakes. That’s because the rules and guidelines for betting horses online differs from those of other sports.

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Below, we will detail all of the need-to-know online betting information for the Preakness Stakes, including a closer look at the current race odds, available bet types, and best promo for the second leg of the Triple Crown.

Click here to get a $300 risk-free first bet ahead of the Preakness with TVG. 

Betting on the Preakness is Legal in Illinois

Certainly, the Illinois online sports betting market has undergone a number of changes since first going live last year. At its start, state lawmakers mandated online bettors to finish an in-person registration process at physical casino locations before placing online wagers. Due to the COVID-19 pandemic, the rule was quickly lifted in order to keep the market functioning while social distancing guidelines remained in place. It briefly returned last summer before being lifted a second time; however, for those looking for a quick and easy sign up process, it went back into place again last month.

Quite a roller coaster.

The good news is that back-and-forth does not impact Illinois residents from signing up and fully completing the online registration process for horse racing. It remains legal and easy to do with the TVG app. In short, the state’s rules on betting other sports do not apply to horse racing, so betting on the Preakness falls under a different procedure.

In fact, bettors located in 31 different states will be able to bet on this year’s Preakness.

How to Bet the Preakness in Illinois

To be direct, TVG is the best app to bet on the Preakness online. Owned by the same parent company as FanDuel Sportsbook, TVG offers a similarly clean, crisp, and easy-to-use wagering experience that both experienced and novice horse racing bettors will appreciate.

Unlike other sports, bettors cannot use other popular Illinois online sportsbooks like DraftKings or William Hill, so TVG is the way to go.

Notably, TVG does offer all new Illinois users a stellar $300 risk-free bet, meaning they can jump into the action and wager on this Triple Crown race.

To bet on the Preakness Stakes in Illinois risk-free, complete these steps:

  1. Click here to sign up and get the TVG app by using promo code RISKFREE300.
  2. Make a first deposit. There are several safe and secure options available.
  3. Place a risk-free bet of up to $300.

Simply choose a horse (or a number of horses), confirm the bet type, and enjoy the race.

How to Wager on Horse Racing

Other sports use terms such as moneyline, totals, and spreads, but horse racing has its own set of need-to-know bet types. Lets’ quickly run through some of the most popular options for betting the Preakness in Illinois (and elsewhere).

Win, Place, Show Bets

Win, place, and show wagers are known as straight wagers, relying directly on a horse’s range of finish.

  • Win: A win bet pays if the horse picked finishes first.
  • Place: A horse that finishes in first or second place will pay this wager.
  • Show: A top three-finish will pay out this wager.

Horizontal Exotic Bets

Horizontal exotic bets ask a bettor to correctly forecast the finishes of multiple races (a multi-race parlay). In this case, hitting on a daily double (two races), pick three (three races), pick four (four races), pick five (five races) and pick six (six races) will skyrocket the overall payouts of a winning bet. These wagers must be placed before the first race runs, just like it would with a regular sports parlay.

Given the Preakness States is likely to draw many one-race wagers, many new players won’t be placing horizontal exotic bets.

Vertical Exotic Bets

This is the more relevant bet type for those signing up in Illinois.

If you’re looking to cash in on the race, these single-race bets are the ones to dial in on, ones that require bettors to nail down the correct finish for multiple horses in a single race.

  • Exacta: A bettor wins by correctly picking the two horses that finish in first and second place.
  • Trifecta: This one requires bettors to correctly pick the first, second and third place finish in ordeer.
  • Superfecta: You guessed it, this one requires bettors to correctly select the first, second, third and fourth-place finishers.

2021 Preakness Stakes Odds

Here are the current odds for the 2021 Preakness.

Horse Odds Trainer / Jockey
Ram 30-1 D. Wayne Lukas / Ricardo Santana
Keepmeinmind 15-1 Robertino Diodoro / David Cohen
Medina Spirit 9-5 Bob Baffert / John Velazquez
Crowded Trade 10-1 Chad C. Brown / Javier Castellano
Midnight Bourbon 5-1 Steven M. Asmussen / Irad Ortiz Jr.
Rombauer 12-1 Michael W. McCarthy / Flavien Prat
France Go de Ina 20-1 Hideyuki Mori / Joel Rosario
Unbridled Honor 15-1 Todd A. Pletcher / Luis Saez
Risk Taking 15-1 Chad C. Brown / Jose Ortiz
Concert Tour 5-2 Bob Baffert / Mike Smith

Favorites

Despite the controversy swirling around Medina Spirt, Bob Baffert’s Kentucky Derby winner (for the time being) leads the odds board ahead of the race. Concert Tour, another Baffert horse, is also in the mix with Steven Asmussen’s Midnight Bourbon.

Longshots

The field for the Preakness has been shortened to just 10 entrants, which both helps and hurts long shot plays. There’s less competition, but a lighter field also weeds out many potential unexpected twists and turns out of the gate. Currently, France Go de Ina and Ram have the longest odds to win.

Click here to get a $300 risk-free first bet ahead of the Preakness with TVG. 

TVG

BET ON THE PREAKNESS

GET THE APP
SIGNUP BONUS$300
RISK-FREE
BET NOW


Author: BN Staff

From the collective mind of the Bleacher Nation staff.