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The second leg of the Triple Crown takes place on Saturday, May 16, and the 2026 Preakness Stakes is the ideal time to take advantage of the 1/ST BET promo code 500BET, which offers new users up to $500 in wagering credits. For the first time since 1908, the Preakness Stakes won't run at the legendary Pimlico Race Course; it will instead take place at Laurel Park due to construction. The Preakness Stakes 2026 will still run at the traditional 1 3/16 miles (9.5 furlongs) length with a post time of 6:50 p.m. ET. Iron Honor is the 9-2 favorite in the latest 2026 Preakness Stakes 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 1/ST BET members 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 $20 in wagering credits on a horse at 5/1 odds and it won, you'd receive $100, but you would not get that $20 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

Iron Honor is the 9-2 favorite in the latest 2026 Preakness Stakes odds, closely followed by three horses at 5-1 odds in a wide-open top of the field for 2026 Preakness Stakes betting. Taj Mahal (5-1), Chip Honcho (5-1) and Incredibolt (5-1) are near co-favorite status with Iron Honor, as the 2026 Preakness Stakes field is missing the Kentucky Derby winner. Golden Tempo, the Derby champion, is not running Saturday. 

Legendary trainer Bob Baffert doesn't have a horse racing in the 2026 Preakness Stakes either, but top trainers such as Chad Brown and Steve Asmussen do. Brown, who has won the Preakness Stakes in 2017 and 2022, trains Iron Honor, the favorite. Iron Honor won his first two career races before finishing in seventh despite being the favorite at the Wood Memorial (G2) on April 4.

Post position can make a significant difference in Triple Crown races, and Asmussen's horse has drawn what is traditionally the best place to start. Chip Honcho will start from post position No. 6, which has homed a Preakness-record 17 winners, and Asmussen is also chasing his third Preakness victory. The 60-year-old trainer hasn't had a Preakness winner since 2009, though. Taj Mahal may have some home-field advantage on Saturday, winning all three of his career races with each of them also coming at Laurel Park. 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.