Yes, you can bet on more than one horse in the Preakness Stakes (or any horse race) by placing multiple bets. If you bet on two or more horses to win, then your potential payouts will decrease because your total bet is being spread out among multiple horses. However, if you bet on two or more horses to place (meaning they only need to finish in the top two instead of first), then your potential payouts may actually increase because the odds of multiple horses finishing in the top two are higher than the odds of a single horse winning the race. As with any betting strategy, it's important to assess your risk tolerance and carefully consider your odds and potential payouts before placing multiple bets.