Preakness Stakes 2017: What is a Trifecta?

Everything you need to know about placing a Trifecta bet on the 2017 Preakness Stakes this Saturday.

Triple Crown season is the most exciting time of the year for all horse racing fans while providing an opportunity to win some money through betting.

After an impressive victory in the Kentucky Derby two weeks ago, Always Dreaming will try to capture the second leg of the Triple Crown with a win in the 2017 Preakness Stakes on Saturday evening at Pimlico Race Track. The Run for the Black-Eyed Susans dates back to 1873 and is one of the most prestigious annual events in horse racing, with a purse totaling $1.5 million.

However, the chance to win some money on Saturday isn’t just reserved for jockeys and trainers. Fans around the country will place wagers on their favorite horses, as the 2017 Kentucky Derby brought in a record betting amount of $139.2 million at North American race tracks.

As expected, Always Dreaming enters Preakness weekend as a huge favorite at 4-5 after drawing the No. 4 post position on Wednesday morning. With such short odds, bettors will only win $1.60 on a minimum $2 wager on Always Dreaming to win should the Derby champion repeat on Saturday.

In order to win some real cash at the track, bettors will instead turn to a number of different exotic bets. One of the most popular exotic bets is the Trifecta, which is achieved by successfully picking the correct order of the top three finishers in any given race.

Always Dreaming had slightly better odds in the Kentucky Derby at 5/1, but the Run for the Roses still didn’t offer a huge payout for correctly picking the winner. Still, correctly hitting a $1 Trifecta at the Kentucky Derby paid out $8,297.20 thanks to late surges from Lookin at Lee (33/1) and Battle of Midway (40/1), who passed other favorites down the stretch.

As the Preakness odds quickly get longer after Always Dreaming and Classic Empire at 3/1, Saturday’s Trifecta could again feature a massive payout.