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2023 Preakness Stakes: Payouts, Ponies & An Unmatched Fan Experience

Last Updated: July 1, 2023
It’s the second jewel of the Triple Crown series and there’s quite the payday on the line at Pimlico. Boardroom has all the details on the Preakness prize money and odds in 2023.

Eight of the world’s finest thoroughbreds, millions in Preakness payouts, a pop sensation, and so much more.

It’s the 148th running of the Preakness Stakes and needless to say, Pimlico Race Course will be popping off this weekend.

We’re talking not one, but two historic horse races (The Black-Eyed Susan is on Friday), a newly reimagined fan experience, and a live concert featuring 14-time Grammy Award winner Bruno Mars.

If you’re here solely for horse racing, however, post time for the Preakness is at 7:01 pm ET, so you’ll want to be prompt.

You won’t want to miss the minutes-long race and potentially witness Mage make a run at history — or watch as seven other foals attempt to spoil his day and earn a major payday in the process.

Before we prognosticate which pony will perform best, let’s first look at just how much prize money is on the line at the 2023 Preakness.

2023 Preakness Stakes Payouts

There’s a total of $2.6 million in purse winnings up for grabs throughout the weekend at Pimlico, but the Preakness promises a total pool of $1.5 million — a far cry from the first-ever purse of $2,050 in 1837.

The winning horse at this year’s race will once again earn his owners and jockey approximately 60% of the purse, which equates to roughly $900,000.

If past prize payout portions hold true, here’s what the top finishers can expect to win:

  • First Place: $900,000
  • Second Place: $300,000
  • Third Place: $165,000
  • Fourth Place: $90,000
  • Fifth Place: $45,000

There’s also the elegant Woodlawn Vase, also known as the “most valuable trophy in American Sports.” Created by Tiffany and Company in 1860 as a trophy for the now-defunct Woodlawn Racing Association in Louisville, the vase is reportedly worth $1 million or more.

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Preakness Stakes Favorites

As the odds-on favorite, Mage (8-5) will look to become the first thoroughbred to win the Preakness and Kentucky Derby in the same year since Justify’s Triple Crown in 2018.

Not far behind is First Mission (5-2), National Treasure (4-1), and Blazing Sevens (6-1).

And of course, you can never count out the dark horse. Keep an eye on Chase The Chaos (50-1) to shock the world.

Here’s a look at the entire slate of opening odds, as well as Preakness poll positions and jockeys.

Preakness Odds 2023

Numbers via FanDuel Sportsbook reflect the official line for the 2023 Preakness Stakes as of May 17, 2023.

1National Treasure John Velázquez4-1
2Chase the ChaosSheldon Russell50-1
3MageJavier Castellano8/5
4CoffeewithchrisJaime Rodriguez20-1
5Red Route OneJoel Rosario10-1
6PerformFeargal Lynch15-1
7Blazing SevensIrad Ortiz Jr.6-1
8First MissionLuis Saez5-2

The Preakness Experience

Organizers are describing this year’s event as an “entirely re-imagined entertainment and curated hospitality experience,” called Preakness LIVE.

Similar to last year, expect Baltimore to be bumping with plenty of live music, entertainment, arts, and culture.

Bruno Mars is returning to the infield, 11 years after his first performance at the Preakness. Other performances include Grammy-nominated musical duo SOFI TUKKER, DJ Chantel Jeffries, Martin 2 Smoove, and many more. 

Baltimore’s culinary culture will also be on display. Not only will the infield feature pop-ups by local restaurants, but many of the culinary offerings will spotlight Maryland-based businesses or brands.

Preakness LIVE will also shine a spotlight on Baltimore’s vibrant art scene with the return of the infield art garden featuring unique works by local artists.

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