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The morning-line odds for the Preakness, traditionally held on the third Saturday in May, are typically released at the conclusion of the post-position draw, which is held on Wednesday of Preakness week. In recent years, the draw has been conducted during a late-afternoon ceremony in the Pimlico infield.

The current Preakness oddsmaker is Keith Fuestle, who succeeded the popular, long-time Pimlico oddsmaker Frank Carulli following the 2013 Preakness.

Various television and online outlets offer coverage of the post draw and release of morning line odds.

Preakness odds are widely available online prior to the start of early Preakness betting on Friday and throughout the day on Saturday. Among the best places to find that information are at Brisnet.com and TwinSpires.com.

Unlike the Kentucky Derby, where as many as 20 horses are allowed to compete, the Preakness field is limited to a maximum of 14 starters. However, only rarely has the Preakness field attracted that many individual wagering interests. The only years the Preakness starting gate was filled to capacity was in 2011, 2005, and 1992.

The perceived quality of the Kentucky Derby winner is a major factor in the number of horses the Preakness attracts.