The second stop on the Triple Crown tour is here, as the 2024 Preakness Stakes has arrived. 

Horse racing is all about making money if you’re a fan. The two-minute races can change drastically alter a person’s finances, provided they are willing to put the money where their mouth is and throw down a wager. 

Gamblers aren’t the only ones going home with cash in hand. In addition to bragging rights and a big, shiny trophy, the team of the winning horse also receives a nice payday for its victory. 

The focus of the Preakness will be on Mystik Dan, who won the Kentucky Derby two weeks earlier and is looking to move one step closer to the Triple Crown. 

Here’s what you need to know about the Preakness Stakes prize money in 2024. 

MORE: Who will win 2024 Preakness Stakes? Horses, odds, expert picks & more

What is the Preakness Stakes purse in 2024?

This year’s Preakness Stakes purse is $2 million. It marks a 33-percent increase from last year, where it was set at $1.5 million in 2023.

It marks the highest purse to date in Preakness history. In 2019, the last running of the Preakness before the COVID-19 pandemic, the Preakness Stake purse was a record total of $1.65 million. It dropped to $1 million in 2021 before the slight bump in 2022. 

How much money does the Preakness Stakes winner get?

The winner of the 2024 Preakness Stakes is expected to receive around $1.2 million, which is approximately 60% percent of the total purse.

That number has not been confirmed, but it goes along with the 60% payout that has been the trend in recent years. 

Prize money breakdown for Preakness Stakes 2024

The official prize money breakdown for the 2024 Preakness has not officially been revealed, however these are the expected payouts, based on how much the purse increased from 2023 to 2024. 

Here is the full breakdown of the expected prize money for the 2024 Preakness Stakes.

Preakness Stakes prize money compared to other Triple Crown races

All three Triple Crown races are seeing an increase in prize money this year. 

The Preakness Stakes’ purse is less than half the size of the Kentucky Derby’s $5 million purse.  However, it’s equal to the Belmont Stakes’ purse, with both coming in at $2 million.