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Watch The Preakness Stakes Online: Streaming Coverage Of Preakness Stakes Begins At 4:30 EDT

The 137th Preakness Stakes takes place Saturday afternoon, and NBC Sports will be streaming the race online. Kentucky Derby winner I'll Have Another will be looking to take one step closer to the first Triple Crown victory since 1978, but in order to do that he'll have to face down Bodemeister, the Derby favorite who came in second in Kentucky.'

Bodemeister is again the favorite, going in to the Preakness with odds at 7/4 versus 5/2 for I'll Have Another. Both horses have drawn post positions towards the outside, which should benefit them. Union Rags, a Kentucky Derby contender who is skipping the Preakness, was caught in traffic near the rail and was not a factor in the finish of hte race. Went The Day Well and Creative Cause are also strong contenders, with odds of 6/1 and 7/1 respectively.

Online coverage starts at 4:30pm EDT (1:30pm PDT) courtesy of NBC Sports.

Stick with SB Nation Los Angeles for updates and results from the 2012 Preakness Stakes. SB Nation's horse racing blog And Down The Stretch They Come is your source for all your horse racing news and analysis.