The Preakness Stakes isn’t as big and fancied as the Kentucky Derby, but that doesn’t mean it’s not lucrative. It’s a high-stakes event anticipated by millions of sports and horse racing fans, and, of course, bettors. But like most other events of this scale and magnitude, the Preakness Stakes had humble beginnings. When it started in 1873, the event had a value of just $1,000. The first significant leap in value came several decades later when, in 1919, it soared to $25,000. The value crossed through the $100,000, $200,000, $500,000, and $1 million barriers overtime. These days, the value is at $1.5 million, which was established back in 2014.
The winner of the upcoming 2019 Preakness Stakes at Pimlico Park in Baltimore will take home 60 percent share of the purse, valued at $900,000. Prizes are only given to the top five finishers, so expect the jockeys to give it their all in trying to will their horses into placing in the money.
In 2018, Justify took home the biggest slice of the purse by winning the race. Justify, who also won the 2018 Kentucky Derby, would go on to sweep all three legs of the Triple Crown to become one of only 13 horses in history to pull off the rare feat.
Apart from the top prize money, the winner of the Preakness Stakes also gets the rights to bring home the replica of reportedly the most expensive trophy in sports in the United States – the Woodlawn Vase, which was produced by Tiffany and Co. way back in 1860. The value of the original Woodlawn Vase is said to be worth $1 million.
