Unlike the Kentucky Derby, which can be bet on at various times during the winter and spring leading up to the race in the form of the Kentucky Derby Future Wager (KDFW), pari-mutuel betting on the Belmont Stakes, like the Preakness, is restricted to just two days.
After the Belmont field is drawn on the Tuesday or Wednesday preceding the race, fans will have to wait before wagering on the race is available at racetracks, simulcast centers, and on Advance Deposit Wagering (ADW) platforms, including TwinSpires.com until about 24 hours prior to race time. The first opportunity to wager on the Belmont is on the day before the race.
Belmont Park has joined Churchill Downs and Pimlico by carding a stakes-laden, marathon program on its biggest day. In recent years, the Belmont Stakes Day program has commenced at 11 a.m. (ET).
The Kentucky Derby is far and away the most wagered-on horse race in the country, but the Belmont often attracts enough handle to make it the second, or third, most wagered-on race in the country each year. It is usually the second-most watched and wagered on race if the field includes a Kentucky Derby-Preakness winner attempting a Triple Crown sweep.
The Belmont field is limited to a maximum of 16 horses, and longshot winners have been prominent in recent years. In addition to the traditional “straight” wagers (Win, Place, Show), fans can also attempt to cash big in the various “exotic” pools. Exacta (first two), Trifecta (first three), and Superfecta (first four) wagering are all offered.
Belmont Stakes trends to consider when betting:
- In the last 30 years (2026) 69% of Belmont Stakes winners had already run in the Kentucky Derby, while 73% of winners had skipped the Preakness S.
- 69% of winners had run in at least one of the other Triple Crown races
- No horse in the last 30 years (2030) has finished outside of the money in the Preakness S. and the Derby, and then gone onto win the Belmont S.
- 23% of Belmont Stakes winners had finished inside the money in the Derby, but 42% of winners had finished outside the money
- The strongest trend is that 42% of Belmont Stakes winners in the last 30 years (2026) ran in the Derby finishing outside of the money AND either didn’t run in the Preakness, or if they did, finished in the money
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Belmont Stakes Betting Strategies
Betting the Belmont Stakes has Fewer Horses Capable of Winning the ‘Test of the Champion’
Can the Belmont pay out for bettors?
In 2014 and 2015, when race fans and bettors watched and placed bets in record numbers as California Chrome made a bid for the 2014 Triple Crown, but came up short at the Belmont. A total handle of $90.8 million was bet on the Belmont Stakes in 2014.
Then in 2015, American Pharoah became the first horse in 37 years to complete the Triple Crown by winning the Belmont Stakes. A total handle of $82.4 million was bet on the 2015 Belmont Stakes at Belmont Park and by fans watching and wagering at other tracks simulcasting the race.
In 2016 when Creator won the Belmont Stakes, but there was no Triple Crown possibility, the betting handle for the Belmont Stakes was $52,188,416. The total handle for Tapwrit’s victory in 2017 was $47,163,773.
The most recent Belmont Stakes with a Triple Crown on the line was in 2018, when Justify raced into the record books. That year, the all-source handle for the Belmont Stakes was an impressive $72,702,815. However the total still compared somewhat poorly with the Triple Crown bids of California Chrome and American Pharoah in 2014 & 2015 respectively.
In 2019, the Belmont Stakes handle was $53.2 million. Due to the COVID-19 pandemic, the 2020 handle was significantly lower than in previous years, coming in at just $34.1 million. Neither race enjoyed the presence of a Triple Crown contender.
The increased participation of horse racing bettors was evident by the impressive total handle on the race's first year of re-establishment outside of the Triple Crown.
In 2021 Essential Quality won the Belmont Stakes, and all-dashboard handle was $60,459,330 at the event. Additionally, Belmont Stakes Day and total all-sources handle from the event was $112,725,278, at that time the highest amount generated outside of the Triple Crown.
In the second year of the new format (2022) Mo Donegal won the Belmont Stakes with all-sources handle on the race being $50,248,624 and with total all-sources handle on Belmont Stakes Day being $98,766,906.
Year three (2023), Arcangelo won the Belmont Stakes with an increase in interest again. All-sources handle on the race was $56,533,820 and on Belmont Stakes Day was $118,283,455 - again at that time a new NYRA record of all-sources handle generated for a non-Triple Crown year.
The 2024 Belmont Stakes was unique in that it was held at Saratoga Race Course for the first time as a result of construction at Belmont Park. Dornoch won the Belmont in 2024, and the race generated a solid handle of $60,904,557 while the overall handle for the day exceeded $125,748,941. Once again setting at that time a new record for a non-Triple Crown year.
In 2025, Sovereignty captured the Belmont Stakes at Saratoga Race Course. Weather and changes to the number of races on the card presented a challenge to Belmont Stakes Day, but it nonetheless produced all-sources handle of $101,861,883, and all-sources handle on the Belmont Stakes race would reach $55,456,793.
Recent Changes to the Belmont Stakes
The most significant update for today’s Belmont Stakes is a temporary move from Belmont Park to Saratoga Race Course. The 2024 and 2025 editions will take place at Saratoga, as will the 2026 Belmont Stakes, while Belmont Park is being rebuilt.
The race distance is also affected by the location. The Belmont Stakes is referred to as the “Test of the Champion” because of the distance of 1 ½ miles. However, the Belmont Stakes races at Saratoga will only be run at a distance of 1 ¼ miles due to the layout of Saratoga's racetrack. The Belmont Stakes is expected to return to Belmont Park in 2027.
Betting the Belmont
Pari-mutuel wagering determines the payouts for bettors on horse races. That means bettors are placing their bets into a pool which is divided up between all winners. The amount paid out to each winner depends on how much has been wagered on the different possible outcomes of that race. This is why most winning combinations typically pay less than you might expect, especially when there is a large volume of money wagered on just one or two horses. When more people wager on one particular horse, their winning payout is low compared to a long shot being in the race.
For example, in 2014 when California Chrome entered the Belmont Stakes as the heavy favorite while trying to complete the Triple Crown and lost, and Tonalist won with the 9 to 1 odds. However, there were many other long shots in the race, including two of the first three places. The result was that the $2 win wager returned $20.40, the $2 exacta returned $348, and the $2 trifecta returned a whopping $6,781.
When Sir Winston upset Tacitus in the 2019 Belmont Stakes, there was a great opportunity for the right combination of horses to return large payouts to the winning bettors. Sir Winston returned a relatively small payout. However, included in those winning payouts was long shot Joevia who finished third at the 22 to 1 odds. The winning $2 trifecta among the three horses in the Belmont Stakes paid a tremendous amount of $2,488.
Belmont Betting Notes
In previous years, when conducting research on the Belmont Stakes, athletes have been given specific insight based on the field size, pace, form and race conditions.
Historically, the Belmont Stakes has been a race where the favorites have been put to the test at various distances (years with no clear cut favorite). On the other hand, recent races at Saratoga have different field sizes (1-1/4 miles versus 1-1/2 miles), meaning that they will develop differently than what is typically expected of a Belmont Stakes.
While older Belmont results are still valuable history, and therefore worthwhile for analysis of today's events, those same results may not provide an accurate guide for betting today. Various factors (weather, race length, quality of race field, etc.) will significantly impact how the race develops and how odds are adjusted post-race.
No matter the way you chose to wager on the Belmont Stakes, the race has proven to be one of the most historically renowned horse racing events in North America. Historically, the highest betting years come when a Triple Crown is possible; however, even when there is no Triple Crown possible, the race itself is an attractive wagering opportunity. As always, please continue to responsibly wager and remain within your personal wagering limit.