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2008 Preakness Stakes Betting Guide

With the second leg of horse racing's Triple Crown running this Saturday at Pimlico race course, it's time to start thinking about making your 2008 Preakness Stakes predictions. The big question weighing on the mind of many is if Big Brown can win again this week to set up a Triple Crown showdown at the Belmont Stakes. For those of you new to horse racing or need a refresher course, Jimmy will get you up to speed with the types of bets that can be made in this 2008 Preakness Stakes betting guide.

If you go to any racebook which offers advice about horse betting, they'll tell you first and foremost to put your money on the favorite. They'll tell you that the favorite wins 33% of the time and hope that that is a good enough number to get you to fall into the same trap of so many other horse racing bettors. The thing that you must look at is that the favorite doesn't win about 66% of the time. Also, if the favorite does win, oddsmakers aren't paying out nearly as much as if a horse showing more value wins. In other words, don't place your win bet on Big Brown this week just because he is the favorite. Make sure you weigh the field and make an educated bet.

The horse that won the Kentucky Derby is always the one you have to be wary of as the public almost always blindly piles on this pony because this horse gets so much media attention that they start to believe it's the only one that can win. It's normally always a better idea to do a little value hunting. You cannot forget for a second that all the horses in this race come from the genes of championship horses of the past and that none are pushovers.

In case you hadn't already figured it out, a win bet is simply a bet placed on which horse you like to win the race. There are two more forms of straight bets that can be made which are place and show bets. A place bet is made on a horse that you feel will finish first or second and a show bet is made on a horse you think will come in first, second, or third. You receive a larger payout for the higher your horse finishes with these wagers which allow for a larger margin of error for horse racing novices. However, the payouts aren't nearly good on the latter two straight bets so if you're interesting in betting the Preakness Stakes, it's best to put your trust in an experienced handicapper who can deliver you a winner.

For your novices to get some more bang for you buck, we recommend small wagers on some exotic bets, specifically the Exacta and Trifecta. If you can pick the top two finishing horses in the exact order for the Exacta or the top three in the exact order for the Trifecta, you can multiply your winnings by significant amounts with little risk.

Make sure you check out Jimmy Boyd's Preakness Stakes picks to make sure you're money is on the right horse come raceday.

May 12, 2008