2025 Belmont Stakes odds: 'I don’t think it’ll be a two-horse race'

Sovereignty won the Kentucky Derby, edging out Journalism. Then in the Preakness Stakes, which Sovereignty skipped, Journalism rolled to victory.

The two will do battle once more on Saturday in the Belmont Stakes on FOX, to cap the 2025 Triple Crown.

So, Belmont Stakes odds come down to a two-horse race, right?

Well, maybe not.

"I don’t think it’ll be a two-horse race. I don’t see it that way. There are other horses who could surprise," said Johnny Avello, director of race and sportsbook operations for DraftKings.

Avello, who’s been around horse racing much of his life and is one of the keenest betting minds in the sport, serves up his insights on 2025 Belmont Stakes odds.

Battle of Saratoga

For the second straight year, the Belmont Stakes is at Saratoga, while Belmont Park undergoes renovations. Monday’s post-position draw saw Journalism land the No. 7 gate in an eight-horse field, while Sovereignty will break from the No. 2 gate.

Morning Line odds then went up, with Journalism an 8/5 favorite, narrowly ahead of Sovereignty at 2/1 for Saturday’s 7:07 p.m. ET post time on FOX. There’s plenty to like about both horses, most notably that each already has a Triple Crown win this year.

"I think Journalism and Sovereignty will both be bet pretty heavily. They’re both gonna take their share of money," Avello said. "But Baeza was a really close third in the Kentucky Derby. He’s getting better. He’ll take some money."

As the 4/1 third choice, Baeza isn’t too far behind Journalism and Sovereignty.

Rain and Rest

Saratoga could see rain Saturday, though Avello notes that’s not necessarily a disadvantage for the top two horses.

But another factor could be part of the equation: Like Sovereignty, Baeza is well-rested after