Preakness Stakes, the second jewel in the horse racing Triple Crown, takes place May 18, and we've got some excellent prop odds and picks for you. 

From Black-eyed Susan cocktails to winning margins and jockey props, there's no shortage of ways to win a buck at the Preakness.

Here are our best prop picks for this horse racing event.

Preakness Stakes Prop Bets

Check out the following 2024 Preakness Stakes prop bets, with much more selection available on race day.

Winning Margin

We're counting on this being a fiercely competitive event at Preakness Stakes this weekend. There's not much separating the top four in the market, so this is a juicy prop odds board to attack.

Just Steel has already finished ahead of Mystik Dan, second on the odds board, this season. Catching Freedom is also another key horse in the mix. All told, it's best to bet the UNDER 1.5 lengths, as this race could come down to the wire.

Best Finishing Position

This prop market removes chalk horses Mystik Dan and Muth, leaving us to bet the next highest finisher. Tuscan Gold is a sneaky bet, though I've got my eye on Catching Freedom. He's looked sharp through workouts, and, in a smaller field, he's a great bet at +175. You may not find a better prop on the market. 

Other Preakness Stakes Prop Bets

Let's take a look further at some of the prop bets you can expect to see before the day of the Preakness Stakes.

1. Winning Margin

You could bet on the winning horse's margin of victory, such as "Under 1 length" or "Over 1 length". Many sportsbooks will offer this type of prop bet for the Preakness Stakes

2. Winning Time

You could bet on the winning horse's finishing time, such as "Under 1:54.00" or "Over 1:54.00". The last four years have seen each of these hit twice.

3. Head-to-Head Matchups

You could bet on which horse will finish ahead of the other in a head-to-head matchup, such as "Horse A vs. Horse B".

4. Jockey Props

You could bet on various jockey-related outcomes, such as Luiz Saez to win the Preakness Stakes and have more than one winner on Preakness Stakes Day?".

This will be a simple YES or NO prop bet.

5. Weather Props

You could bet on various weather-related outcomes, such as "Will rain occur before during, or within a certain period after the race?" or "Will the race be run on a fast or sloppy surface?".

6. Winning Horse's Saddlecloth Number

You could bet on the winning horse's saddlecloth number, such as an "Odd number" or "Even number".

Another bet could be on if the winner will be saddle cloth 1-5 or 6-10. This bet is usually based on the number of runners split in half

7. What will the highest finishing longshot be?

Here the sportsbooks will take the three biggest longshots and give odds on which one will gain the best finishing position.

8. Who will finish last?

So as an example, Muth is favored to finish first, so to finish last the sportsbooks might offer him at 50/1 to be last as it is very unlikely this will happen.

9. Will Mystik Dan win the Triple Crown?

Of course, Mystik Dan owns +250 odds to win the Preakness Stakes, and the sportsbooks on the East and West Coast have him as a +1600 shot to win both the Preakness and Belmont Stakes to become the 14th winner of the Triple Crown.

Will Bob Baffert become the most winning trainer in Preakness Stakes history?

Baffert has one dart to throw at the Preakness Stakes this year with National Treasure and it is very possible he could win and bring up a record-breaking eighth win for his trainer in the Preakness Stakes.

As we get close to the race, we are sure to see some sportsbook put up odds on this prop bet.

Fun Preakness Stakes Prop Bets

We’ve explained some of the more standard prop bets above but the sportsbooks love to come up with some weird and wonderful ideas for prop bets and we have picked out our favorite one for this year's race

How many Black-Eyed Susans will be drunk on Preakness Stakes Day?

The signature drink of the Preakness Stakes is the “Black Eyed Susan” named after the famous Maryland plant.

The drink is made in the modern style of a cocktail and features vodka and bourbon shaken with peach schnapps, orange juice, and sour mix. It's a nice fruity mix that is enjoyable any day of the year.

So we might see a prop bet that features the drink and if there will be over or under 50,000 drinks sold.

Final Thoughts

Prop bets are really good fun as they involve a quick answer to a yes or no question and are easier to understand for novice players.

Whatever bet you place on the big race, make sure to have fun and enjoy the big day on May 18th, 2024.