Preakness 2012: Smart Money Bets from Pimlico

The middle leg of horse racing's Triple Crown will take place Saturday, with the 137th running of the Preakness Stakes from Pimlico Race Track in Baltimore.

Of course, that means the floods of betting on the race will come to a conclusion. Below, we quickly break down some of the smart money bets against the odds that are available for you Saturday. 

All odds are courtesy of AllHorseRacing.com.

Bodemeister (7/5 odds) and I'll Have Another (5/2)

Betting on the favorites—which is exactly what these two horses are—is almost always a risky endeavor, if only because the payout for actually getting the pick right is far less than the risk that's associated with a potentially getting the horse wrong.

But considering how strong both Bodemeister and I'll Have Another looked at the Kentucky Derby, and how each of the horses translate to the smaller, faster track at Pimlico, it may be difficult for the winner to come from outside this duo. 

The current odds don't allow for much in terms of winnings, but you're looking at two heavy favorites for the Preakness Stakes in Bodemeister and I'll Have Another.

Creative Cause (6/1)

Creative Cause finished in fifth at Churchill Downs, but this three-year-old colt ran a surprisingly efficient race. Within a shot of the lead during the middle legs, Creative Cause simply couldn't muster the stamina to make a late charge. 

However, Creative Cause has had plenty of success at stakes races in the past, and the shorter track should benefit him at the Preakness. Given the 6/1 odds, Creative Cause could easily crack the top three Saturday.

Went the Day Well (6/1)

Went the Day Well, who finished fourth at the Kentucky Derby, is another horse that could challenge both Bodemeister and I'll Have Another for the win at Pimlico.

While early struggles at the Derby eventually cost the colt a chance at the win in Kentucky, Went the Day Well did manage to rally from 17th place to just two-and-a-half lengths behind I'll Have Another. 

If Went the Day Well can manage to stay more competitive early in the race, a late charge may be enough to steal a win, not just fourth place. 

Daddy Nose Best (15/1)

If you're looking for your next coming of I'll Have Another, who rallied from 15/1 odds and the No. 19 starting position to win the Kentucky Derby, look no further than Daddy Nose Best. 

While Steven Asmussen's horse tailed off to end the Derby—eventually finishing in 10th—Daddy Nose Best has four career wins and is excellent at shorter tracks like Pimlico. Long shots are still long shots, but few horses at the back of the odds have a better chance at exceeding expectations than Daddy Nose Best.