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

There's starting to be a sprinkle of clarity in the MLB Cy Young odds at our best MLB betting sites after many early-season injuries.

The MLB Cy Young odds at our best sports betting sites are beginning to be reshaped following several crushing early-season injuries.

The season must go on without the likes of Shane Bieber and Spencer Strider, or so we're told. And it'll also still be a while until Gerrit Cole takes to the mound for the New York Yankees.

But there's no shortage of talented replacements in the Cy Young odds. The Baltimore Orioles' Corbin Burnes has won the award before and sits atop the American League right now, with impressive Detroit Tigers youngster Tarik Skubal not far behind.

It's a little more muddled in the National League, with Zack Wheeler, Zac Gallen, and Freddy Peralta all in a logjam at the top. Wheeler narrowly gets the edge as the only one listed as the favorite at multiple books.

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 19)

AL Cy Young odds analysis

April 19, 2024: There's only been minor shuffling atop the AL oddsboard recently at our best live betting sites, with Burnes still leading the pack and the rising Skubal trailing closely. The notable difference though is that there was previously a small gap between the two across the board, and now FanDuel is listing them at an even +550.

The Kansas City Royals' Cole Ragans is part of the breakaway pack too, and another youngster in Grayson Rodriguez keeps rising. He's moved from as long as +1600 to around +1000 while pitching impressively for the Baltimore Orioles.

There are opportunities for value lower as well, with Caesars offering a rogue +1500 price on Joe Ryan, and FanDuel doing the same for George Kirby at +3000.

Odds to win National League Cy Young 2024

(Odds updated April 19)

NL Cy Young odds analysis

April 19, 2024: There's a clear breakaway group in the NL too, and it consists of two guys who share the same name, but one is much more concise while using only three letters. And among Zac and Zack is the Milwaukee Brewers' shining ace Freddy Peralta.

But there's little consensus about the order of those three among our best sports betting apps. BetMGM lists Gallen first and Peralta third. But Caesars is featuring Peralta in first, where FanDuel and bet365 are slotting Wheeler. There will be clarity soon enough, but we're not quite there yet.

There's generally a steep drop beyond those three, though Caesars is posting a curiously shorter +650 price on Tyler Glasnow.

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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• BetMGM Bonus Code: SBRBONUS | Read our BetMGM Review
• bet365 Bonus Code: SBRBONUS | Read our bet365 Review
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• FanDuel Promo Code | Read our FanDuel Review
• DraftKings Promo Code | Read our DraftKings Review

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Related pages

• Best Sports Betting Sites | Best Sportsbook Promos (U.S. only)