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Chad Kelly #12 of the Toronto Argonauts throws a pass in the second half as we look at the best Grey Cup.
Chad Kelly #12 of the Toronto Argonauts throws a pass in the second half of the 109th Grey Cup game between the Toronto Argonauts and Winnipeg Blue Bombers at Mosaic Stadium on November 20, 2022 in Regina, Canada. Photo by Brent Just/Getty Images via AFP.

We're into the second half of the 2023 CFL season and the Toronto Argonauts maintain a narrow lead over the Winnipeg Blue Bombers as the favorites by the Grey Cup odds from our best sportsbooks in Canada.

The Winnipeg Blue Bombers were finally able to enjoy a comfortable win with a 47-17 destruction of the Montreal Alouettes on their home field in Week 12. That has them nipping at the heels of the reigning champion Toronto Argonauts via the 2023 Grey Cup odds from our best sports betting apps.

The main story of Week 12 in the CFL was the Edmonton Elks ending their home losing skid with a win over the Ottawa Redblacks. That seems to say more about the Redblacks than it does about the Elks.

Here is our breakdown of the best 2023 Grey Cup odds (odds via our best betting sites in Canada).

Grey Cup odds 2023

(Grey Cup odds last updated Aug. 28).

TeamDraftKingsFanDuelCaesarsbet365
Argonauts+160+160+180 ðŸ”¥+145 â„️
Blue Bombers+170 +170+160 +150 â„️
Lions+475+470+500 ðŸ”¥+460 â„️
Alouettes+1400 ðŸ”¥+1300+800+800
Roughriders+2000+1800+1200 â„️+2000
Redblacks+2500 â„️+3400+4000+4500 ðŸ”¥
Tiger-Cats+2500 ðŸ”¥+2200+1750 â„️+2200
Stampeders+3500+3400+4000 ðŸ”¥+3300 â„️
Elks+10000+8500 â„️+25000 ðŸ”¥+15000

Grey Cup betting analysis

As the Grey Cup oddsboard continues to shuffle on a weekly basis, Caesars now stands out by offering the Blue Bombers as the favorites in this futures market, meaning its offering market-high odds on the Argos as the team the rest of our best sports betting sites have pegged as the team to beat in the CFL. 

Caesars low price on the Bombers means it's also offering higher odds on the B.C. Lions as the No. 2 team in the West Division. Use our Caesars promo codeSBRBONUS1000 to get the best odds on the Lions.

Grey Cup odds movement

The odds for the Argos and Bombers continue to shorten on a near-weekly basis. That's expected as the each continue to pile up wins and sit safely atop the standings in the East and West Divisions, respectively.

The odds for the Redblacks likely didn't lengthen enough across our best sportsbooks as they fell to 3-8 and remain last in the East Division following an embarrassing loss to the lowly Elks.

Grey Cup odds 2023: Favorite

Argonauts (+180 via Caesars)

The Argos are safely atop the East Division standings and play their next four games against divisional opponents before a much more meaningful test against the Bombers in Winnipeg in Week 17. A loss in that road game may be the next best opportunity to bet on the Argos to win the Grey Cup.

Grey Cup odds 2023: Contender

Blue Bombers (+170 via DraftKings, FanDuel)

Zach Collaros returned to the field in Week 12 and threw for 240 yards and four touchdowns against three interceptions against the Alouettes before being pulled in garbage time of the blowout win.

Winnipeg will play back-to-back games against the rival Saskatchewan Roughriders. Falling to three losses before its next matchup with the Argos will keep its Grey Cup odds elevated despite closing in on a guaranteed playoff berth.

Use our Canada sportsbook promos to make sure you're getting the best possible price on the Blue Bombers.

Kentucky bettors: Sports betting is here!

Kentucky sports betting launched on Sept. 28 - so sign up with the best Kentucky sportsbook promos now! And check out our list of the best Kentucky sports betting apps!

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CFL betting odds pages

Grey Cup FAQs

Who is the Grep Cup favorite?

The Toronto Argonauts are favorites for the Grey Cup with odds as low as +175.

Who won the Grey Cup last year?

The Toronto Argonauts defeated the Winnipeg Blue Bombers 24-23 in the 109th Grey Cup at Mosaic Stadium in Regina, SK. 

It was Toronto’s first Grey Cup victory since the 2017 season.

When will the 2023 Grey Cup be played?

The 110th Grey Cup will be played Sunday, Nov. 19.

Where will the 2023 Grey Cup be played?

The 110th Grey Cup will be played at Tim Hortons Field in Hamilton, ON. It will be the 12th time Hamilton hosted the championship game and first since 2021.

How to watch the 2023 Grey Cup

RDS and TSN will broadcast the 110th Grey Cup, respectively, in French and English.

Here are our best sports betting apps:

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* Bonuses not applicable in Ontario.

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