It’s Preakness week! The Preakness Stakes is the second leg of the U.S. Triple Crown and one of the most-watched horse races on the North American calendar. Run two weeks after the Kentucky Derby, the Preakness draws major attention from casual and seasoned bettors alike, including plenty here in Canada.
This page is a simple guide for Canadians who want to place a Preakness Stakes wager online, including where to bet, a look at the 2026 odds, and a step-by-step guide to placing your bets.
Bet365 is our top-rated sportsbook for Canadians looking to bet on the Preakness Stakes.
For bettors outside Ontario, Bet365.com offers fixed-odds wagering on the Preakness winner, as well as each-way betting and a full range of horse racing markets. Fixed odds mean you lock in your price at the moment you place your bet, with no fluctuation from the pari-mutuel pool.
For Ontario bettors, Bet365.ca is the only regulated Ontario sportsbook offering Preakness Stakes betting, thanks to their partnership with Woodbine Entertainment. Bets placed in Ontario are routed through Woodbine’s pari-mutuel tote system (the same system used at the racetrack) and processed under Woodbine’s federal pari-mutuel licence. You’ll see a note in the horse racing section indicating it’s “Operated by Woodbine Entertainment Group,” which means your wagers are fully legal and regulated. No other Ontario-regulated sportsbook app currently offers Preakness betting.
Across Canada, Bet365 offers the full range of horse racing bet types for the Preakness including win, place, show, exacta, trifecta, and more, plus live streaming of the race directly in the app.
2026 Preakness Stakes Odds
The 2026 Preakness Stakes goes this Saturday, May 16th with post time set for 7:01pm ET. For the first time in the race’s history, the Preakness is being run at Laurel Park rather than Pimlico, which is closed for a $400 million renovation and expected to reopen in 2027.
Here are the morning line odds and post positions for the 2026 Preakness Stakes. These odds were set on Monday of race week, but they will change on race day depending on the amount of money wagered on each horse:
Taj Mahal 5-1
Ocelli 6-1
Crupper 30-1
Robusta 30-1
Talkin 20-1
Chip Honcho 5-1
The Hell We Did 15-1
Bull by the Horns 30-1
Iron Honor 9-2
Napoleon Solo 8-1
Corona de Oro 30-1
Incredibolt 5-1
Great White 15-1
Pretty Boy Miah 15-1
I will add a screenshot of the 2026 Preakness Stakes odds from Bet365 on race day (when they become available). The odds will shift right up until post time, so head to Bet365 and select Horse Racing for the live lines.
**To find the current odds for yourself select ‘Meetings’ from the top menu bar on the Horse Racing page at Bet365.com, and then select Race #13 at Laurel Park under the ‘North America’ header. You can also select ‘Preakness Stakes’ under the Top Races menu to quickly navigate to the race. Screenshot will be added on May 16th, 2026.
Iron Honor is the 9-2 morning line favourite. He’s coming off a 7th place finish at the Wood Memorial where he didn’t have his best race, but he won the other two races in his career. Ocelli figures to be right there too. He finished third in the Kentucky Derby just a length behind the top two and is by far the leading money winner in the field. Taj Mahal is undefeated in three starts at Laurel and locked up his Preakness spot with a runaway win in the Federico Tesio, while Incredibolt and Chip Honcho round out the top of the board. Kentucky Derby winner Golden Tempo is skipping the race, so there’s no Triple Crown on the line in 2026.
The Preakness is a great betting race because the field is smaller than the Derby and most of these horses are coming in with more form to go on. That said, this year’s edition is wide open with no clear standout, a brand new venue at Laurel Park, and plenty of horses who prefer to be on or near the early lead. Expect a fast pace and a setup that favours the closers.
How to Bet on the Preakness Stakes From Canada – 3 Step Guide
Follow these three steps to place your Preakness Stakes bets online in minutes.
Head to Bet365 via the link above, click ‘Join’ and complete the registration form. The process takes just a few minutes.
Step 2. Deposit
Bet365 accepts Interac (recommended for Canadians), Visa, Mastercard, and several other deposit methods. Select ‘Deposit’ after logging in, choose your method, enter your amount, and follow the instructions to fund your account.
Step 3. Place Your Preakness Stakes Bets
To place a bet on the Preakness Stakes winner navigate to Laurel Park race #13 with a 7:01pm ET post time under the North America header in the ‘Meetings’ section of the Horse Racing page.
Select the type of bet you want to place (Win/Each Way), Position, Top Finishes, etc. Then select the odds of the horse you want to bet on. Enter your risk amount on the Bet Slip and click ‘Place Bet’ to lock in your wager.
