Sure there sill still be people betting on this year's Preakness Stakes, but news that the Kentucky Derby winner Sovereignty won't be racing at Pimlico means no Triple Crown and fewer wagers.  This translates into few less casual fans taking an interest in the race and placing their bets.

On Tuesday, it was announced that Sovereignty would be skipping the second leg of the Triple Crown.  That means Kentucky Derby favorite and second place finisher at Churchill Downs, Journalism, becomes the odds-on favorite at 4/5.  He's separated by nearly five points from the next horse, Goal Oriented, at 5-1.

Trainer William Mott just didn't think the Preakness was the best race for his horse.

“It is not a simple decision. Not at all,” says trainer Michael McCarthy, who has so far opted to enter his horse Journalism. “It’s easy to say the sporting thing is to run in the Preakness and go to try and win the Triple Crown, but there’s a lot more to it. The Triple Crown is very demanding. It’s not meant to be easy, which is why only a few elite horses have done it in modern times. I don’t know the reasons behind this decision, but I can tell you no one questions Bill Mott. It’s his horse and his decision.”

While this year's Kentucky Derby did post some of the best traffic numbers for Gambling911 in years, the industry is trying desperately to get more people interested in it.  The triple crown presents an excellent opportunity to drive more casual fans to horse racing.  The Preakness Stakes is typically Gambling911's second most trafficked horse racing event of the year, better than the Breeders Cup.

Oddsmakers realize it's a long shot to get anywhere close to the Kentucky Derby numbers based on recent history of the winner at Churchill Downs passing on Pimlico.

From The Athletic:

An estimated 17 million people watched the Saturday broadcast as Sovereignty ran through the slop to victory. History says those numbers won’t stack up on May 17 when the Preakness is run. Three years ago, when longshot Derby winner Rich Strike bowed out of the Preakness, only 5.2 million watched the Preakness broadcast compared to 16 million for the Derby that year.

2025 Preakness Stakes Odds

Journalism    4-5   
Goal Oriented     5-1   
Clever Again    6-1   
River Thames    6-1   
American Promise    8-1   
Gosger    15-1   
Heart of Honor    20-1   
Pay Billy    20-1