Preakness 2012: Horses You Are Better Off Avoiding

The 2012 Preakness Stakes will be held for the 137th time on Saturday and those two minutes are sure to be just as exciting as the Kentucky Derby was.

Seeing as only one can win, there's plenty of horses that you need to stay away from if you're betting this weekend. Some should be avoided because they have no shot at victory and others because the payout simply isn't worth it.

Here are three horses you need to keep your money away from in this year's Preakness Stakes.

I'll Have Another

If history is any indication, I'll Have Another is not going to win both of these next two races. That means he has an equal chance at losing at the Preakness and the Belmont.

Who's to say he won't come away the victor on Saturday?

The chestnut colt is looking for his fourth win in four races and is listed at 5-2 odds. Jockey Mario Gutierrez rode the horse to victory down the stretch at Churchill Downs, running down Bodemeister six strides from the wire in an improbably victory.

It's hard to see something like that happening again. Not to say that I'll Have Another's victory was a fluke, but a win on Saturday would be improbable.

Bodemeister

I would be a bad idea to bet on Bodemeister Saturday. Not because he's not a great horse, but because he's been listed at 8-5 odds. The risk-reward factor behind those odds is too much to justify a bet.

The payout won't be that substantial unless you throw down a pretty penny on Bob Baffert's pony. And if you feel like a high-roller and decide to lay down the cash, you could lose a lot of money if Bodemeister and jockey Mike Smith choke during the last six strides of the race.

Smith definitely ran the race he wanted with Bodemeister at Churchill Downs—the horse simply wasn't good enough to finish strong and win the race. He set blazing fractions at the beginning of the race, but seriously slowed down before he was caught by I'll Have Another. That's a cause for concern.

Went the Day Well

People have been talking about Went the Day Well because of his connection to 2011 Kentucky Derby winner Animal Kingdom. Went the Day Well got off to an abysmal start in the Kentucky Derby, but rallied to finish in fourth place.

He lost the Kentucky Derby by just two-and-a-half lengths, a testament to his jockey John Velazquez for being able to get him that close to the front of the pack.

Don't buy it though. If they split the race into two parts and awarded one winner for the first part and one winner for the second, this horse would be a good pick. Seeing as how that's not the way this works, you should stay away from Went the Day Well, despite his inviting 6-1 odds.