Learn me The Preakness

So I guess I'm going to the Preakness this year. It's the bachelor party for the wedding I'm officiating. Here's the thing though, I don't know anything about it.

I guess this is a historic final year in Maryland, I didn't even know they raced horses in Maryland.

So I guess what should I expect? Kentucky Derby levels of stupid hats and rich old people? Throngs of hipsters making secretariat references?

How do I bet on the horses?

What should I look out for and avoid?

Never been to the Preakness, but I have been to a handful of others. First, check the weather. Wear the correct gear. 

Check out the building. I'd assume that it has a bunch of cool historical stuff. Be ready for lines. Go to the bathroom when it is convenient, because there definitely could be a time where you're doing a dance and it is out the door. 

As for betting, I go to OTB (off track betting) at least once a week. I was a math major. I understand odds. My FIL probably nets about $4k a year on this, and has taught me a lot. I do not understand handicapping enough to make a go of it. I do not bet often, and I do not bet much. I'll put in some more comments later in teh year as I can see how individual horses are running and in what races, but you'll basically want to just bet $2 bets for Win, Place, and Show on some of the favorites. Bet a cool name here or there, because it is fun, but do not get carried away. I typically will make about 5-10 bets, and rarely will I spend more than $10 on those bets. I bet the minimum bet allowed on most bets. 

The machines are going to be a lot faster than going to the tellers; if you do go to the tellers, tell them Track, Race #, Bet, Number. So if Secretariat is number 3, running at Pimlico in the 4th race, you'd say "Pimlico race 4; $2 on #3 to win". Don't use the names of the horses, it slows everything down. 

Common bets: 

Win - bet on the horse coming in first

Place - bet on the horse coming in first or second

Show - bet on the horse coming in first, second, or third

Exacta - Bet on the first and second place horses (in order)

Trifecta - First, second, and third (in order)

Superfecta - First, second, third, and fourth (in order)

Box - any order on any of the "acta's". - so say you know that the top 3 horses in a race are going to be 2, 4, and 5, but you don't know what order, you would do a Trifecta Box with 2,4,5. 

Oh, one other thing -- sometimes betting parlors at the tracks themselves will raise the minimum bet of certain bets. So a superfecta is typically $0.10, but it may be $1.00 on that particular day. Figure that stuff out ahead of time--and sometimes it is a $1.00 minimum for a superfecta, but the super-box is still at $0.10 minimum ($2.40 total bet, since there are 24 potential outcomes that you're betting).

A fun thing that I like to do every once in a while is to throw a longshot into a superfecta box, with the 4 favorites. So your bet will be $12 (120 bets), and chances are it doesn't pay off much even if you hit it (assume around $30-$80), but if you hit it with the longshot it could be huge--that $12 bet at the 2017 Kentucky Derby would have paid over $7,500--if you had all the horses in it.  Maybe a bad example, as the 2 and 3 horses were 20-1 and 30-1, so they'd be in just about nobodys superfecta, but still... You get the idea. It can be fun, just don't get carried away.

I grew up down there, but I know nothing useful except that a friend who lived near the track, had drunk people pissing in her front yard every year.  So don't do that?

Horses run around an oval with little people on their back. People with mental disabilities bet on the finishing order of the horses...no bonuses for losing the mini passengers! 

So I should scatter the $100 I'm planning on wasting on all the long shots as boxes?

On the one hand the math fascinates me. On the other, I know how easily I could start chasing that golden ticket, so trying to avoid that.

It doesn't sound like this will be a fun drunken weekend. I don't drink anymore, but wet going with both the bride and grooms father, and the grooms cop brother. I don't think they could have picked a worse idea for a bachelor party, personally.

RevRico said:

So I should scatter the $100 I'm planning on wasting on all the long shots as boxes?

On the one hand the math fascinates me. On the other, I know how easily I could start chasing that golden ticket, so trying to avoid that.

It doesn't sound like this will be a fun drunken weekend. I don't drink anymore, but wet going with both the bride and grooms father, and the grooms cop brother. I don't think they could have picked a worse idea for a bachelor party, personally.

I'm drinking less and less these days, to the point that I'm considering giving it up for good, but to me this sounds like an awesome day. Think of it like a drag race day. You're going to see a ton of races, it is a lot of fun--try to get into it. 

One thing that is kind of fun to do is to look for value bets. There is a website that does them, I think predictform or something. It basically looks at the horses running and says "this horse is one that has a shot at coming in the money, and has long odds". Throw that one in. 

If you're going in with $100 and are planning on losing it all, it isn't a bad way to do it--you could play the favorites and come out +-50, or play the long shots and come out with a lot more.... or nothing. 

I didn’t know The Preakness was something other than a band.

So what exactly are you saying. Are you doing the infield or general admission or what? Private party? I doubt it for the Preakness. Dinner in the restaurant? That will control a lot of what you're expected to do, ie., dress code etcetera. Essentially nice casual attire if you're going to any of the events. But no cut-offs tank tops etcetera. It really would help to know where the Gathering is going to be for your group. Not nearly as stuffy as Louisville downs and the Kentucky Derby

There are two events that happen on the track grounds that day.

The Preakness is the horse race on the track.

The Freakness is the party in the infield.

If you're going for a bachelor party, I'd expect more time in attendance at the latter, but judge for yourself based on the group.

I've never been, but heard stories. As an example, in past years the Freakness included the porta-potty run. It's basically a gauntlet where you run across the tops of the row of portapoopers while people huck cans of beers at you. I think that's been discouraged as much as possible, but be ready for that level of, um, revelry. 

In reply to Ovid_and_Flem :

We have a box I believe in the opening straight to sit at for the actual race. 90% certain someone is cashing in a bunch of Hilton hotel points for the rooms, but not sure where we'll actually be staying. Details have been scattered to say the least. 

I was told that last year someone named Post Malone was the musical guest for the Freakness, unanimous decision after checking on YouTube, we're all too old for anything like that. 

So it's likely we'll see more than one race? That should help. Cause right now it feels like we're driving 6 hours each way to watch one pass around a track. Working in the restaurants I have, we usually had parties for the big races, but it sounded like they only watched one at each event.

We've all known each other a pretty long time. Last year when the groom took his dad to the Kentucky Derby was the first any of us ever knew of them being interested in horses. We were all expecting a fishing/camping trip, then someone  who is no longer going on the bachelor party  suggested the race, so it's the race. 

As someone who's been arrested at Preakness I'll chime in. If you're over 26, you're too old for the infield and will have a terrible time. Portajohn Olympics are still a thing, sadly baby pools full of crappy beer is not. Try not to burn to death in a portajohn. There are two potentials for weather, insanely hot or mud pit. Get an afternoon thunderstorm and you can get both in the same package. You'll see boobs, but unfortunately they're not the type of boobs that'll make a man rethink marriage.  For the last decade it's been "the last Preakness to be held in Baltimore" and it should've moved years ago, Pimilico is a dump and the space can be better used redeveloped. An MLS stadium that doubles as a concert venue would be better use of the property. I'll believe that the race is gone though when it's gone. 

No...there will be 8 to 12 or so races leading up to preakness.  Races are 20 to 30 minutes apart.  Lots of time to hang out, people watch, socialize.  If youre in a box might consider a sport jack but not really required.  Just kinda depends on wedding party.  Races are played on monitors all the way around track...and replayed until next race.  You likely can access public areas where theyre preparing for call to post.  I havent been to preakness since late 80s.  Youll enjoy walking about and taking it all in.

That being said it is kinda run down compared to louisville downs or Belmont...but fun for something different.

captdownshift said:

As someone who's been arrested at Preakness I'll chime in. 

And we have our resident expert!

secretariata said:

Horses run around an oval with little people on their back. People with mental disabilities bet on the finishing order of the horses...no bonuses for losing the mini passengers! 

When I am entertainment director of Earth, somewhere between adding landmines to the outfield of baseball stadiums and converting the NASCAR oval into a figure 8, I will add bonus bets for tossing the jocky. Maybe even add hoops around the track that are worth triple if the jockey flies through them. 

Daylan caught me mid edit

In reply to RevRico :

I think the last 5 cars running backwards is uncalled for, just turn Daytona into the worlds biggest figure 8 with ramps in the middle.

Nothing like getting a text at 11pm the night before to say it's still on. 

I've not been paying much attention to horses, and searching for odds gets me a bunch of "buy my system" bullE36 M3. Someone got suspended post derby, and a few bigger names are skipping? 

Any favorites going into the weekend or long shots to keep an eye on? Is there a preferred OTB in the area or legitimate website to place bets on?

Hell, any suggestions for things to do Friday? 

Only suggestion I have is that the odds on a horse have nothing to with how likely they are to win (sort of).  They are base on betting on the horse, so they reflect which horse the betters thinks will win.  E.g. if there was a GRM event at a track and a horse was name Miata Hammer, it would likely be running at much lower odds than expected because so many people where betting on it.

What does this mean?  Well, theoretically, you can get a better value of bet by going against any emotional style betting, e.g. horses with good names, horse people would like to see win etc. 

Why do they do this?  It assures the track (or whomever takes the bets) will always make money on the betting no matter which way it goes.  The money is made by building a slight edge into the odds.

I got nothin useful except to point out it's "Churchill Downs" in Louisville.  Not Louisville Downs.

Grew up on Kentucky thoroughbred farms.  Family are all very involved in the industry.  I live within a 3 minute drive of Keeneland.   I'm literally surrounded by the prettiest and most expensive horses and farms on earth.  And I can't get interested in any of it.  The money poured into the horse industry would make you weep if you knew the scope of it.  Stud fees that are more than double what I paid for my house.  Horses at auction selling for multiple times what I'll earn in my lifetime.  Absurdity.

I haven't been watching as close as I should have, but I think I'll be making the following bets: 

$2, Win/Place/Show on 4 ($6 total bet)

$0.10 Superfecta Box with 1,4,12,2 ($2.40 total bet, $24 if they make the minimum bet $1)

$0.10 Superfecta Box with 1,4,7,12 ($2.40 total bet, $24 if they make the minimum bet $1)

$1 exacta box with 1,4 ($2 total bet)

I'll probably also have some trifectas with 1,4, and then a few longshots,  but I'll need to do more studying on the horses. I really have to figure that 4 (Improbable) will end up being everyones favorite, including mine, but I want to bet 2 just for its name: Bourbon War. I like Bourbon.

Took about an hour last night looking at the past races of the horses. I think I'll have what I said above, but I'll also throw Laughing Fox in as my long-shot pick, probably in some Trifectas, maybe add on to the supers and make them a $12 bet. 

mtn said:

I haven't been watching as close as I should have, but I think I'll be making the following bets: 

$2, Win/Place/Show on 4 ($6 total bet)

$0.10 Superfecta Box with 1,4,12,2 ($2.40 total bet, $24 if they make the minimum bet $1)

$0.10 Superfecta Box with 1,4,7,12 ($2.40 total bet, $24 if they make the minimum bet $1)

$1 exacta box with 1,4 ($2 total bet)

Well, hope you picked well, just put my $56 down on this setup. Now to wait around all day in the sun on asphalt until it runs. Yippee.

Only thing I know about pimlico is the big car show, now I see that it wasn’t the type of race track I had expected.

Yeah the Preakness is definitely best experienced on TV in a bar from what I've gathered from Rico's posts and me looking up and noticing the Preakness is on tv.

With an hour between races at this point, I wish there was a car show. We got here at 1030, the preakness itself doesn't run until 645. It's race 13, we just finished 11...

Horse racing is definitely better experienced either on the horse or drunk in an air conditioned location. 

I'm considering spending my last $20 on whiskey and stealing a tractor to drag race just to curb the boredom.