2024 Cy Young Odds: Betting Lines, Favorites for AL & NL Awards

There's starting to be some clarity in the MLB Cy Young odds at our best MLB betting sites one month into the season.

The MLB Cy Young odds at our best sports betting sites continue to reflect the growing and concerning pitcher injury list, one that now includes Blake Snell.

That list of sadness also features Shane Bieber and Spencer Strider being lost for the season, and Gerrit Cole is likely still a few weeks away from throwing his first pitch during a 2024 regular-season game.

So there's an early opportunity for others to rise, and many are taking advantage. The Baltimore Orioles' Corbin Burnes has won the NL award before and sits atop the American League odds. However, standout Detroit Tigers youngster Tarik Skubal is only a stride or two behind him. Similarly, Zack Wheeler and Freddy Peralta are in a tier alone atop the NL.

Here's our look at the best 2024 Cy Young odds in the American and National League, along with some potential MLB picks, via our best sportsbooks.

Odds to win American League Cy Young 2024

(Odds updated April 25)

AL Cy Young odds analysis

April 25, 2024: If you gaze for a while off into the distance you'll see two tiny figures. That's Burnes and Skubal, who sauntered far off and away from the rest of the pack. But Burnes once held a more comfortable lead over Skubal. Now he maintains only the smallest edge over the impressive Tigers ace, and the two are even tied at BetMGM.

With the value on those two gone at least temporarily, it's an ideal time to look toward the middle to lower tiers of the top 10 for a sleeper.

Jose Berrios is a fine candidate down at the bottom while listed around +2000. The Toronto Blue Jays hurler has produced three straight shutouts and a run of 21 2/3 consecutive scoreless innings. Logan Gilbert is around the same price and has been similarly impressive while allowing one earned run or fewer in four of his first five outings.

DraftKings is far off the rest of our best live betting sites in some areas, and especially with its poor prices on Reid Detmers and Joe Ryan. However, that book is posting a rogue price in the other direction on Pablo Lopez.

Odds to win National League Cy Young 2024

(Odds updated April 25)

NL Cy Young odds analysis

April 25, 2024: There's still similarly a breakaway pair in the NL, with Wheeler and Freddy Peralta sprinting off. Wheeler is now the only ace listed shorter than +400 at any book while getting +375 odds from Caesars.

The NL is muddled in the middle, but there are still rogue prices that raise eyebrows. That's the case with the +2500 odds on Dylan Cease from Caesars. The San Diego Padres right-hander notched a shutout and didn't allow over two earned runs during his first five starts.

Caesars is also posting an appetizing number on the fast-rising Ranger Suarez, offering him at +2500 when he's generally around +1800 elsewhere. The Philadelphia Phillies hurler reeled off three straight shutouts to begin his season.

Previous AL Cy Young winners

Previous NL Cy Young winners

MLB Cy Young odds explained

One of the benefits of betting on the MLB Cy Young - as is the case with most player award futures markets - is that the odds on every option are relatively long to start the season. Therefore, by betting on MLB Cy Young, you can make your money go further by placing a smaller wager and winning more than you would with most daily markets.

The odds will shift throughout the season as pitchers separate themselves with their performances. It's just as important to track the progression of the league's best pitchers as it is to monitor the odds.

MLB Cy Young FAQs

Who are the Cy Young award favorites?

Baltimore Orioles ace Corbin Burnes is the AL Cy Young favorite, and Philadelphia Phillies righty Zack Wheeler is the NL favorite.

When will the Cy Young winners be announced?

The 2023 Cy Young award winners were announced on Wednesday, Nov. 15. The 2024 awards should be announced around the same time, depending on when the World Series concludes.

How does Cy Young voting work?

The Cy Young awards are given out based on the voting from members of the Baseball Writers' Association of America. Writers from NL cities vote for the NL Cy Young, and the same is true for AL writers. In total, there are 30 votes tied to each award, with one representative from each team.

Writers submit their ballots before the beginning of the posteason. They rank their top-five selections, and points are given in descending order (first place gets seven points, second place gets four, third place gets three, fourth place gets two, and fifth place gets one). The player with the most points wins. In the event of a tie, the award is shared. 

Who won the Cy Young awards in 2023?

Gerrit Cole of the New York Yankees won the American League Cy Young award in 2023.

San Diego Padres lefty Blake Snell took home the National League honors. In doing so, Snell became the seventh pitcher to win the Cy Young in both the AL and NL.

MLB betting odds pages

Here are our best MLB betting sites:

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• DraftKings Promo Code | Read our DraftKings Review

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