The Preakness Stakes is a Grade I American horse race held annually in the middle of May at Pimlico Race Course in Baltimore, Maryland. It is the second leg of the Triple Crown series of horse races, followed by the Belmont Stakes and preceded by the Kentucky Derby. The Preakness Stakes is the second-oldest of the Triple Crown races, having been founded in 1873, only four years after the Kentucky Derby.
The race is just over one and a half miles long, and is open to three-year-old Thoroughbred horses. The race usually attracts the same horses that ran in the Kentucky Derby, along with some horses that skipped the first race of the Triple Crown.
What Did The Preakness Pay 2020?
The 2020 Preakness Stakes purse was $1.5 million, with the winner receiving $900,000. The second-place finisher earned $250,000, and the third-place finisher received $150,000. The fourth-place finisher earned $100,000 and the fifth-place finisher received $60,000. The full breakdown of the 2020 Preakness Stakes purse is as follows:
- Winner: $900,000
- Second Place: $250,000
- Third Place: $150,000
- Fourth Place: $100,000
- Fifth Place: $60,000
History of The Preakness Stakes Purse
The Preakness Stakes purse has grown significantly since its inception in 1873. The first Preakness Stakes was run for a purse of just $2,050, with the winner taking home $1,830. By the early 20th century, the purse had grown to $25,000, and by 1975, it had grown to $250,000.
The Preakness Stakes purse has grown steadily over the years, reaching a peak of $2 million in 2015. In recent years, the purse has fluctuated between $1.5 and $2 million, with the 2020 purse of $1.5 million being the lowest since 2014.
Other Purse Money at The Preakness Stakes
In addition to the purse money awarded to the five finishers of the Preakness Stakes, there is also a bonus of up to $1 million allocated to the winner of the race if they have also won the Kentucky Derby. This bonus is known as the Preakness Stakes/Kentucky Derby Double Bonus. If the winner of the Preakness Stakes has not won the Kentucky Derby, the bonus is not awarded.
What Happens to the Preakness Stakes Purse Money?
The Preakness Stakes purse money is split between the owners of the horses that finish in the top five places. The owners of the winning horse take home the lion’s share of the purse money, with the second-place finisher receiving a smaller fraction, and the remaining finishers receiving progressively smaller amounts.
The owners of the horses that finish in the top five are also eligible for a share of the Preakness Stakes/Kentucky Derby Double Bonus, if the winner of the Preakness Stakes has also won the Kentucky Derby. The bonus is split between the owners of the winning horse and the owners of the other four finishers, with the winner receiving the largest share.
What Happens to the Preakness Stakes Purse Money After the Race?
The owners of the horses that finish in the top five at the Preakness Stakes are eligible to receive additional money in the form of awards and bonuses. These awards and bonuses are typically funded by the Maryland Jockey Club, the Preakness Stakes sponsor, and are intended to further reward the horses and their owners for their success.
These awards and bonuses can take many forms, and typically include cash prizes, trophies, and other awards. The total amount of awards and bonuses awarded to the top five finishers of the Preakness Stakes can range from several thousand dollars to several hundred thousand dollars, depending on the size of the purse and the sponsors of the race.
What Are The Benefits of The Preakness Stakes Purse Money?
The Preakness Stakes purse money is a major benefit to the owners of the horses that finish in the top five places. The money can be used to help cover the costs of training and caring for the horses, as well as to help further their racing careers. It can also be used to help the horse owners build or expand their stables, or to purchase new horses.
The Preakness Stakes purse money is also a major benefit to the Maryland Jockey Club, as it helps to cover the costs of running the race and maintaining the track. The money from the purse also helps to attract more horses to the race, which helps to create a more competitive field and a more exciting race for the spectators.
Conclusion
The 2020 Preakness Stakes purse was $1.5 million, with the winner receiving $900,000, the second-place finisher earning $250,000, the third-place finisher receiving $150,000, the fourth-place finisher earning $100,000, and the fifth-place finisher receiving $60,000. The Preakness Stakes purse has grown significantly since its inception in 1873, and the winner of the race is also eligible to receive a bonus of up to $1 million if they have also won the Kentucky Derby. The Preakness Stakes purse money is a major benefit to the owners of the horses that finish in the top five places, and it also helps to cover the costs of running the race and maintaining the track.