Preakness 2015 Contenders: Compelling Odds for Favorites in This Year's Field

American Pharoah continues his quest for the elusive Triple Crown at Pimlico Race Course in Baltimore, Maryland, as he sets out to conquer the 140th Preakness Stakes.

Following his dramatic Kentucky Derby victory, Pharoah has remained the big favorite for the Preakness; however, he must contend with another highly talented field of horses, including Derby top-three finishers Firing Line and Dortmund, as well as intriguing newcomers such as Competitive Edge.

Wagering on the Preakness comes with new challenges for bettors. Will the top Derby horses continue to shine despite a chance of fatigue from a recent grueling race, or will a slightly unknown contender take the race due to fresher legs?

Let's take a look at the most recent odds for this year's Preakness Stakes and analyze some of the most compelling lines.

2015 Preakness Stakes Odds

Horse	Odds
American Pharoah	5-6
Firing Line	5-1
Dortmund	11-2
Carpe Diem	12-1
Competitive Edge	14-1
Materiality	16-1
Danzig Moon	20-1
Divining Rod	22-1
Mr. Z	33-1
Bodhisattva	40-1
Stanford	40-1
Grand Bili	50-1
Tale of Verve	66-1

All race odds courtesy of Odds Shark.

Analyzing Compelling Odds

American Pharoah (5-6 Odds)

With 5-6 odds, the payout for Pharoah to win the Preakness won't be huge, but that shouldn't deter you from taking the odds-on favorite into consideration.

Pharoah has been unstoppable in 2015, winning both the Rebel Stakes and Arkansas Derby by huge margins before showing a great deal of resilience in the Kentucky Derby. The colt's race at Churchill Downs was immensely impressive due to his ability to retain enough stamina to finish strong despite running a much longer race than his competition.

After starting out wide due to a poor post position draw, Pharoah made up plenty of ground early in the race to put himself in position near the front of the pack. However, he was forced to run most of the race three wide or risk running into traffic. As we know, that didn't stop this impressive colt from taking the garland of roses. Here's a look back at his sparkling showing:

Can Pharoah continue his winning ways despite the quick turnaround? Based on his run at Churchill Downs, the colt's chances appear rather favorable in a smaller Preakness field.

Firing Line (5-1 Odds)

While Dortmund garnered most of the attention as Pharoah's biggest competition in the Kentucky Derby, Firing Line proved to be the eventual winner's biggest threat.

Firing Line wasn't exactly an unknown heading into the Kentucky Derby after winning the Sunland Derby earlier this year. However, his odds weren't overwhelming due to a couple of earlier second-place finishes—both to Dortmund.

In February's Robert B. Lewis Stakes, Firing Line proved he had what it takes to stick with the top Derby contenders, running alongside Dortmund for the entire 1 1/16-mile race only to lose by a neck. The longer distance of the Kentucky Derby was a benefit to the colt, as his great endurance allowed him to best Dortmund.

Trainer Simon Callaghan doesn't think the two-week turnaround will hurt his horse, either, according to an interview with Jeremy Balan of BloodHorse.com:

"It's probably not ideal for any horse, but if any horse can do it, it's this horse. He's got great constitution, a great mind, and he seems to have even come out of that race really good. Even that night, he ate everything up. He has the qualities that suggest he can handle the turn-back pretty quick."

Expect Firing Line to remain the biggest Triple Crown-ending threat to Pharoah.

Competitive Edge (14-1 Odds)

A newcomer to this year's Triple Crown races, Competitive Edge will be hoping his somewhat fresher legs will propel him to overtake some of the top Derby horses in the Preakness.

Undefeated in four career races, the three-year-old colt most recently emerged victorious in the Pat Day Mile—a prestigious undercard race for the Kentucky Derby. In fact, not only did the impressive Competitive Edge win the race, but he set a new record of 1:34.18, besting the previous record of 1:34.40 set by Ack Ack back in 1969.

Following a clean start, Competitive Edge found himself in second place and allowed Hillbilly Royalty to set the pace early. Once at the top of the stretch, the colt began to run, quickly pulling away from the field to win by a comfortable 4 1/2 lengths. Here's a look at his brilliant run:

This wasn't the only time Competitive Edge romped the field, as he won his two juvenile races by a combined 16 lengths before an impressive 8 1/4-length victory in the seven-furlong Tamarac Stakes. If this colt can handle the extra distance of the Preakness—he still has yet to enter a race longer than one mile—he'll be a severe threat to Pharoah.