YouBet Alternatives for the Preakness

For a lot of people, there is something missing with this year's Preakness.  That something may be YouBet.com, the popular US-based horse racing website that allows individuals to place Preakness bets online....just not this year.

TVG and Youbet.com will be prohibited from taking bets on the Preakness this year.  

The horse racing and wagering network is prohibited from taking bets for Pimlico because of a dispute over exclusivity. And it will prove costly according to a report in the LA Times.

For the Kentucky Derby, where the same thing happened to TVG, the results were stark.

Last year, $2,937,067 was bet on the Derby through TVG's website, leading to a one-day handle of more $7.5 million, a record for the network. Without races from Churchill Downs, this year its handle on Derby Day was $2.1 million.

Online gambling websites like betED.com and BetUS.com are taking full advantage with odds that in some cases are off from each other by double digits, thus increasing value for savvy horse bettors.

"C P West odds were 12 to 1 at betED.com and 18 to 1 at BetUS.com at one point," explains Sports911.com's Don Shapiro.  That gap has closed somewhat during the afternoon.

Both betED.com and BetUS.com accept credit cards online for opening up an account almost instantaneously to ensure action gets in before the start of the Preakness. 

Television coverage begins at 5 pm ET

Saturday proved somewhat brisk in terms of Preakness traffic though traditionally, The Preakness doesn't come anywhere near the Kentucky Derby in terms of popularity.

For horse bettors, The Preakness offers some excellent opportunities, however, in that there are fewer horses and we already have some familiarity with how each horse has performed in bigger races like the Kentucky Derby.

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Tyrone Black, Sports911.com

Originally published May 20, 2007 3:46 pm ET