2026 Preakness Stakes Early Betting Guide: Golden Tempo Out, Crude Velocity the Morning-Line Favorite at Laurel Park

The 2026 Preakness Stakes is shaping up to be one of the most unusual editions of the race in decades. Kentucky Derby winner Golden Tempo has officially been declared out, the race runs at Laurel Park for the first time due to a $400 million renovation of Pimlico Race Course, and the morning-line favorite is Bob Baffert’s lightly raced Crude Velocity, coming off a dominant Pat Day Mile victory on Derby Day. The post draw is Monday, May 11, and the race runs Saturday, May 16.

Golden Tempo Is Out — What That Means for the Field

Trainer Cherie DeVaux announced on May 6 that Golden Tempo would bypass the Preakness Stakes and point instead toward the Belmont Stakes. The team cited the two-week turnaround following the Derby effort as the primary reason, with the colt’s long-term health and happiness taking priority. Golden Tempo’s bypass makes this the second consecutive year a Kentucky Derby winner has skipped the Preakness — Sovereignty did the same in 2025 before going on to win Horse of the Year honors.

With Golden Tempo out, the Preakness lacks a Triple Crown contender for the second straight year. That changes the betting dynamic entirely. There is no dominant Derby horse to handicap against; instead, bettors are evaluating a field of horses that either bypassed Churchill Downs entirely or made only modest impressions there.

Laurel Park: A New Venue, A New Track Bias to Assess

Pimlico Race Course is closed for a $400 million redevelopment project and is expected to reopen as the Preakness venue in 2027. This year, the 151st Preakness Stakes moves to Laurel Park in Laurel, Maryland — the first time in the modern era the race has been held anywhere other than Pimlico.

The move to Laurel matters for handicapping purposes. Two horses — Taj Mahal and The Hell We Did — were already on-site at Laurel in early May and have worked over the main track. Taj Mahal, trained by Brittany Russell, is undefeated in three starts, all at Laurel, and won the Federico Tesio Stakes at the track in April to earn an automatic Preakness berth. That familiarity with the surface is a tangible edge in a field of horses breaking in new surroundings.

The field is capped at 14 starters. The post draw on May 11 at 5 p.m. ET will set positions. Rail draws have historically held some advantage at one-turn routes like the Preakness distance of 1 3/16 miles.

Key Contenders and Their Angles

Several horses stand out in the pre-entry picture heading into the draw. Here is an assessment of the most relevant contenders based on available information before the official field is set.

Crude Velocity (+400 in early FanDuel Future Pool) is the clear morning-line favorite. Trained by Bob Baffert, this undefeated son of Beau Liam won the Pat Day Mile (G2) on Kentucky Derby Day at Churchill Downs, posting a 129 Beyer Speed Figure — a number 14 points higher than any other likely entrant’s most recent effort. Baffert has won the Preakness eight times. Crude Velocity is fresh, fast, and lightly raced. The concerns are the step up in class to Grade 1 competition and the new venue. At 4/1 in Future Wagering, the price reflects his status as the standout speed figure in the field.

Silent Tactic bypassed the Derby entirely to point to Laurel, arriving with maximum freshness. Trainer Mark Casse’s colt posted a 115 Beyer in the Arkansas Derby — a Preakness-winning figure in most years. Fresh horses that skip the Derby and target the Preakness have a meaningful historical record, and Silent Tactic represents the most compelling value angle in the early market.

Ottinho, trained by Chad Brown, finished second in the Blue Grass Stakes and also bypassed Churchill Downs. Brown’s horses that arrive fresh at the Preakness have historically outperformed expectations. Ottinho should draw strong support from the sharp money.

Taj Mahal carries the advantage of having already worked over the Laurel surface multiple times. The Federico Tesio winner is undefeated and comfortable at the venue. The class question is significant — the Federico Tesio is not a Grade 1 — but the track familiarity is a real edge in what is effectively a one-off venue.

Chip Honcho, trained by Steve Asmussen, is confirmed for the Preakness after a bullet five-furlong workout on Derby Day. The son of Connect makes his first start since a fifth-place finish in the Louisiana Derby, where he also finished second in the Risen Star.

Betting Strategy

With the post draw still to come, the most important step before committing any significant money is to see where Crude Velocity draws in the gate. A clean outside post does him no favors at a one-turn route. If he draws inside, the morning line will likely shorten further.

For exotic players, Silent Tactic and Ottinho are the most important horses to use in the second and third slots of any vertical exotic. Fresh horses at the Preakness — particularly those trained by top barns who specifically pointed here instead of the Derby — have delivered outsized ROI historically. At the current prices, both represent strong value in win-place combinations and are mandatory in exacta and trifecta keys underneath Crude Velocity.

The 2026 Preakness Stakes carries a $2 million purse. With no Triple Crown narrative driving the handle and a new venue adding uncertainty to track biases, this is a year where preparation and an open mind toward overlooked freshness angles will be rewarded.