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Horse racing fans remain in the middle of one of the most exciting times of the year, with the second leg of the Triple Crown set for Saturday, May 16, with the 2026 Preakness Stakes. The 2026 Preakness Stakes field is filled with viable candidates for Preakness Stakes betting, which can be done by taking advantage of the 1/ST BET promo code 500BET, which offers new users up to $500 in wagering credits. The 14-horse Preakness Stakes 2026 has a post time set for 7:01 p.m. ET, and Iron Honor is the 9-2 favorite in the latest 2026 Preakness Stakes odds, followed by the trio of Taj Mahal, Chip Honcho and Incredibolt, all at 5-1 odds. Claim up to $500 in wagering credits at 1/ST BET here and make sure to use the promo code 500BET to get a bonus that's more than double what's available to the general public:

For complete information, including terms and conditions of the promo, check out our 1/ST BET promo code review page.

1/ST BET promo code breakdown: Use 500BET

With the 1/ST BET promo code 500BET, new users receive $20 in wagering credits for every $100 wagered on the app. The maximum total for this offer is $500 in wagering credits, which would require a new user to wager $2,500. 

New users to 1/ST BET have 60 days to obtain wagering credits through this 1/ST BET promo, and these bonuses are credited within 72 hours of $100 worth of wagers settling. Wagering credits expire after 14 days. It's also important to note that if you win a bet using wagering credits, you receive the winnings and not the stake. For example, if you wagered $10 in wagering credits on a horse at 5/1 odds and it won, you'd receive $50, but you would not get that $10 stake back. 

This offer is only available to new 1/ST BET users who are of legal age in a state where 1/ST BET is available. Get started here:

How to sign up for the 1/ST BET promo code

If you qualify for the 1/ST BET promo code 500BET and wish to claim it, follow these steps.

  1. Click "CLAIM BONUS" on this page, which will take you to 1/ST BET, or click here.
  2. Enter all required information to create a 1/ST BET account.
  3. Enter the 1/ST BET promo code 500BET.
  4. Deposit at least $10 into your 1/ST BET account.

Once you have made your account and have deposited funds, you can choose any race and horse(s) to wager on. Use 1/ST BET promo code 500BET to claim up to $500 in wagering credits now:

2026 Preakness Stakes betting preview

This year's Preakness Stakes has a location change for the first time in more than a century, with the 151st Preakness running from Laurel Park for the first time. The race's traditional home, Pimlico Race Course, is undergoing significant construction and won't host the Preakness Stakes for the first time since 1908. The second leg of the Triple Crown remains in Maryland, though, and runs at the traditional 1 3/16 miles (9.5 furlongs) length, the shortest of the three Triple Crown races.

Iron Honor, trained by Chad Brown, is the 9-2 favorite in the latest  2026 Preakness Stakes odds, as one of the most respected horse racing trainers goes for his third Preakness Stakes victory. Brown trained horses to Preakness wins in 2017 and 2022. Iron Honor didn't run in the Kentucky Derby after a disappointing seventh-place finish at the Wood Memorial (G2) on April 4 despite taking off as the favorite, but that has allowed Brown more time to have Iron Honor in ideal condition for the Preakness.

Iron Honor is the favorite, but by a slim margin with Taj Mahal, Chip Honcho and Incredibolt all at 5-1 odds. Incredibolt finished sixth at the Kentucky Derby, as his odds have drastically shrunk from 20-1 at Churchill Downs to 5-1 for the Preakness Stakes. Incredibolt has three wins in six career races. Those more interested in longshots for Preakness Stakes betting could be intrigued by The Hell We Did, sired by Authentic, who finished second in the 2020 Preakness Stakes. The Hell We Did has 15-1 odds to win the Preakness. No horse with odds longer than 23-1 has ever won the Preakness Stakes, excluding The Hell We Did from being on the wrong side of history there. Claim up to $500 in wagering credits at 1/ST BET here, and make sure to use the promo code 500BET:

Rules and responsible gaming

Responsible gaming is taken very seriously across all racebooks, including 1/ST BET. Responsible gambling resources include the National Council for Problem Gambling (NCPG) and Gamblers Anonymous. Be smart. Bet smart. Wager responsibly. Those in need of help can also call or text 1-800-MY-RESET (1-800-697-3738).  Help is available 24 hours per day and seven days per week.