MLB Cy Young Odds 2024: Skubal is Favorite in AL, Handful of Pitchers Battle it Out in NL

There's both clarity and confusion in the MLB Cy Young odds at our best MLB betting sites as June begins.

The MLB Cy Young odds at our best sports betting sites continue to shift. There's a noticeable favorite in the AL, and a wildly scattered NL field beyond favorite Zack Wheeler.

Detroit Tigers hurler Tarik Skubal is still pulling away in the AL. He bounced back from a rare poor showing to record his fifth scoreless start over the southpaw's first 11 starts. Baltimore Orioles ace Corbin Burnes lurks as a challenger behind him, and a trio of Seattle Mariners pitchers aren't far off, either.

Meanwhile, the NL Cy Young oddsboard is getting messy.

The World Series odds-contender Philadelphia Phillies roster two of the favorites in Zack Wheeler and Ranger Suarez. And Wheeler is generally starting to create some distance for himself. But the prices for the contenders after him are all over the map, including the odds for Suarez and Los Angeles Dodgers offseason addition Tyler Glasnow.

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 June 6)

AL Cy Young odds analysis

June 3, 2024: Skubal keeps inching away as the calendar flips to June and over a third of the 2024 MLB schedule is in the books. He's even now listed well below +200 at two of our best sports betting apps. Pounce on the +250 from BetMGM while it's still around.

Corbin Burnes remains a strong contender too, but he's now well behind Skubal and as long as +500.

There's a canyon between those two and the rest of the field, with Cole Ragans, Tanner Houck, and Luis Castillo serving as the closest competition.

Ragans has endured a few bumps in the road that have led to him falling out of the top tier. However, his two outings with seven earned runs have been the exception and far from the norm, as he's posted 10 outings with two or fewer earned runs as of June 3. That includes one with 12 strikeouts. He's an intriguing contender at +1600 through bet365.

Odds to win National League Cy Young 2024

(Odds updated June 6)

NL Cy Young odds analysis

June 3, 2024: There's confusion atop the NL oddsboard.

The only source of agreement is that Zack Wheeler deserves to be the favorite. Much like Skubal on the AL, Wheeler is generally starting to create a gap, though the oddsmakers at DraftKings won't stand for that while listing Sota Imanaga only slightly below Wheeler.

The wild times begin with Imanaga, who's listed at +500 or shorter through three of our best live betting sites, but FanDuel and bet365 sit at +1200. Similarly, Suarez is getting around +500 from DraftKings and Caesars, but +1000 or above from FanDuel, BetMGM, and bet365. And in the middle tier, Yoshinobu Yamamoto is being featured at +1500 through DraftKings, but as long as +3000 at FanDuel and Caesars.

Oddsmakers are therefore struggling to get a good read on this race. However, the NL market is still broadly more jammed than the AL, with five pitchers listed at or below +1000, whereas the junior circuit features only two.

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?

Tarik Skubal is the AL Cy Young favorite (+250), and Zack Wheeler is the NL favorite (+300).

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

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