Preakness purse, payout, finishing positions 2024: Prize money at Pimlico

The excitement entering the Preakness Stakes every year at Pimlico Race Course in Maryland is always palpable as the second leg of the Triple Crown in horse racing. There is the chance for history still alive if the Kentucky Derby winner can take the crown again at this race, which is what Mystik Dan is aiming to do after his win at Churchill Downs just a few weeks ago.

While Mystik Dan wasn't the favorite, the horse won a thrilling three-horse photo finish to get the victory by quite literally the hair on its nose. Now at the 2024 Preakness Stakes, though, that thoroughbred is the favorite in the field at 5/2 odds with Catching Freedom and Imagination both right behind at 6/1 odds.

However, while some might be looking out for the odds, the owners, trainers, and jockeys of the horses running at the Pimlico care about the purse and prize money on the line. So what does the 2024 Preakness Stakes purse and payout breakdown look like? We have all the information you need.

Preakness purse 2024: Winner's prize money, total purse

The winner of the 2024 Preakness Stakes will take home a monster $1.2 million, a huge portion and more than 50% of the total $2 million purse hanging in the balance for this race. This is a record-setting purse at $2 million for Pimlico Race Track. The previous record was set in 2019 at $1.65 million, which fell to just $1 million in 2021 after returning following the COVID-19 pandemic and then moved up slightly in 2022 before sitting at $1.5 million last year. It's a 33% increase in purse size in 2024 from the 2023 race.

Preakness prize money breakdown: Payout by finishing position

Here's a look at the payout distribution and breakdown for the Top 5 finishers at the Preakness:

It should be noted that the $1.2 million to the winner has not been fully confirmed but it is 60% of the total purse, which is the standard payout for the winner of a Triple Crown race. There is a steep drop-off thereafter with the runner-up only getting one-third of the winner's share of the purse at $400K.

One thing to always remember is that the payouts aren't going to one person. The trainers and jockeys normally receiver a standard 10% apiece from the prize money while the owner of the horse will still receive the majority of the payout.

How does the Preakness purse compare to other Triple Crown races?

The 2024 Preakness Stakes purse of $2 million is equal to that of the forthcoming Belmont Stakes in a couple of weeks. That prize money on the line is set at the same mark for the last two legs of the Triple Crown. However, the Kentucky Derby offers more than those two races combined as the purse was set at $5 million for the 2024 Run for the Roses at Churchill Downs.