Preakness 2012 Odds: Long Shots Worth Wagering On

With Bodemeister and I'll Have Another at the top of the Preakness field, it seems like there's little room for any underdog horse to come from behind and shock them.

However, with four of the top five Kentucky Derby finishers making a run at the Preakness, the competition will be stiff. Furthermore, some of the contenders who had trouble with the sloppy conditions at Churchill Downs on May 5 will perhaps fare better at Pimlico in (hopefully) drier weather.

Without a doubt, most people will be placing their bets on Bodemeister (8-5) and I'll Have Another (5-2). Even so, here's a look at some of the long shots who could shock the world, just like the Derby winner did a couple of weeks ago.

Creative Cause (6-1)

Heading into the Derby, this horse was an excellent sleeper pick. He had 12-1 odds, excellent post position at No. 8 and a decorated trainer in Mike Harrington. Prior to the Derby, he'd never failed to finish off the board in eight races.

However, the Derby competition proved to be too much for him. He finished fifth and couldn't keep up with Bodemeister, like many hoped. He arrived in Baltimore for the Preakness after a long trip back to California from the Derby, so there's no telling how the extended travel will affect him.

Still, this horse has speed, even if it wasn't on display in his last race. At the Santa Anita Derby in April, he lost by a mere nose to Derby victor I'll Have Another. Somewhere deep inside, he obviously has what it takes to compete; he just needs to use it when the pressure's on. Perhaps at the shorter track at Pimlico, he'll fare better than he did in the Derby.

Went the Day Well (6-1)

After a fourth-place finish at the Derby, Went the Day Well earned third co-favorite honors, neck-and-neck with Creative Cause. This is another horse expected to get a lot of underdog support. Even after a very tough start at Churchill Downs, he managed to close the gap to just 2.5 lengths at the finish line.

Plus, he's owned by Team Valor International, which housed 2011 Derby winner Animal Kingdom—so these people are used to pulling off an upset. Went the Day Well drew post No. 5, which owner Barry Irwin sees as a blessing. He told ESPN.com's Jack Shinar, "[The] onus is on [I'll Have Another] to go after Bodemeister. If both of those things happen and my horse breaks cleanly, hopefully we will be the beneficiary."

Optimizer (30-1)

D. Wayne Lukas has made more headlines over the past weeks for criticizing Doug O'Neill's checkered past than for his chances at the Preakness, but he does indeed have a horse running in the race. Optimizer, who drew the unenviable 10th post position, will attempt to compensate for a rough 11th-place finish at Churchill Downs a couple of weeks ago.

Lukas, a Hall of Famer who's won the Triple Crown with two different horses, is confident in Optimizer's abilities. He told the Associated Press that his decision to enter into the Preakness was a very simple one.

However, is that confidence a bit unfounded? Optimizer has only won a single race in 10 attempts, and he's failed to prove he can show up against top competition like Bodemeister and I'll Have Another. Lukas told the AP he's hoping that a new jockey—Corey Nakatani—will give Optimizer the boost he needs to show his best stuff.

Though Lukas said he's seen "brilliance" in Optimizer and just needs to find a way to draw it out of him, it's a long shot that Optimizer will be able to overcome the top competition in this field, given his post position and his history. That being said, a Hall of Fame trainer does know a good horse when he sees one.