5 Preakness 2023 promo offers & horse racing site sign-up bonuses

The Preakness is the second leg in the prestigious Triple Crown. While it doesn’t have the same prestige as the Kentucky Derby, it is still one of the premier horse racing events of the year and draws millions of spectators and viewers.

If you’re looking to bet on the Preakness for the first time or just want some bonus money to play around with, we’ve compiled five betting sites you can use on Saturday and beyond. The first three -- TwinSpires, DRF Bets and FanDuel Racing -- are available to Illinois users.

Twinspires Preakness promo

Twinspires is one of the biggest sites in horse racing and the structure of this offer will likely be familiar to horse racing bettors. New users can claim their offer by using the Twinspires promo code CTRACING at sign up.

New players at Twinspires can get up to $400 in bonus cash when they wager a total of $1,600 over their first 30 days. So, for a user to get the complete amount in bonus cash, they need to wager $1,600 within the first 30 days of registering their account.

Users will get the bonus cash credited to their account only after they’ve reached the wagering threshold within the first 30 days.

As is the case with all bonus bets or bonus cash, users can deploy the cash for additional wagers but cannot withdraw them. Similarly, any bonus cash earned from this promotion is only eligible for one wager and thus will not be returned to a user in the event of a successful wager.

The user’s wager must be complete, or finalized, for it to count towards the promotion. Only official results will count towards this offer as unofficial results will not trigger this offer.

DRF Preakness offer

DRF has become one of the sportsbooks synonymous with horse racing. Their current offer for the Preakness gives new users a deposit match of $250 and another $10 bonus bet.

There is a small rollover with this promotion so users need to wager a total of $200 before they can withdraw their cash.

Claiming this offer is straightforward though. All users need to do is sign up for a DRF Sportsbook account. After that, new users will get a $10 bonus bet. As is the case with all bonus bet promotions, they cannot be withdrawn or cashed out and are only good for one wager.

For the deposit bonus, users need to make their initial deposit within 14 days and it will be matched by the sportbook. For example, if a user makes a deposit of $200 within the first two weeks of creating an account, they’ll get $200 in bonus bets. After that, the player has another 14 days to wager the deposit match bonus, after which point it will be void.

Critically, only the first deposit applies to this promotion and only a cash deposit will qualify for this offer.

FanDuel Sportsbook and FD Racing Preakness offers

FanDuel’s promotional situation is a bit different from other books. It’s essentially broken down by state, based on the legality of sports betting in each jurisdiction. For states where sports betting isn’t legal, users need to register with the FanDuel Racing app and place their wagers there.

However, in many states where sports betting is legal, users can simply bet through the traditional sportsbook app. New Jersey is one of the exceptions, as it has a standalone horse racing platform, 4NJBets.

The top module displayed below is for bettors in legal sports betting states, and will direct players to the promotion on the FanDuel Sportsbook app. The bottom module displays a promotion from the FanDuel Racing app.

Both promotions offer users the same value for their promotion, so there’s no discrepancy for players in nonlegal states.

This promotion gives new users up to $20 back in bonus bets if their first wager doesn’t hit. Critically, this promotion is only available for users who place a straight win bet on one horse as any exotic bets will not qualify.

Similar to other new customer offers, any wagers placed with bonus cash or other credits will not qualify, as only cash wagers will trigger this offer.

Similar to the original FanDuel Sportsbook offer, the FanDuel Racing offer — which, as noted above, is exclusively for customers in non-legal sports betting states — gives new users up to $20 in bonus bets if their first wager goes south.

As is the case with the other FanDuel Sportsbook offer, this promotion is restricted to new customers who are at least 21 years old.

AmWager Preakness promotion

The AmWager Preakness promotion gives new users a 100 percent deposit match, with up to $150 in bonus bets.

Users can easily sign up on AmWager to initiate this promotion. From there, new bettors need to make their first deposit of $150 and place a total of $150 in bets over the ensuing 30 days after signing up.

Finally, users will get $150 in bonus bets, or wagering credits to use for whatever wager they choose.

Critically, to qualify for the full $150, users need to wager $150 first. Only cash wagers will apply for this promotion as any initial bets placed with credits will not trigger this offer. This promotion is currently available in 30 states.

TVG Preakness offer

This promotion will be familiar to most experienced sports bettors. New users to TVG can get up to $200 back in bonus bets if their first single-horse wager loses.

Once new users sign up for a TVG account, they need to place a real-money wager within 15 days of signing up. If that first wager loses, new users will get a bonus bet credit equal to their original stake, with a maximum potential value of $200.

Once that first wager settles as a loss, new users will get their bonus bet payout within five days.