2024 Grey Cup Odds: Lions Overtake Alouettes Following Montreal's Week 6 Loss

There's a new Grey Cup odds favorite in the CFL following an explosive Week 6 in the CFL.

The BC Lions crushed the Saskatchewan Roughriders, the final undefeated team in the West, by 15 points and now sit atop the oddsboard at our best sportsbooks in Canada. With Vernon Adams Jr. leading the way as the favorite by the CFL Most Outstanding Player odds, BC hung 35 points on the Riders and confirmed the team boasts the league's best offense.

The rise of the Lions coincided with the Montreal Alouettes finally looking susceptible. Montreal fell to the Toronto Argonauts at home 37-18. But the loss of star QB Cody Fajardo to a hamstring injury was far more concerning than the defeat itself.

The Argos' win helped propel them past the Roughriders across our best sports betting apps in Canada. Toronto now holds the third-shortest Grey Cup odds.

Grey Cup odds 2024

Grey Cup odds from our best sports betting apps as of July 17 | 🔥 = best odds | ❄️ = worst odds

Favorites to win 2024 Grey Cup

Lions (+230)

The season-opening loss to the Argos must have been a fluke because the Lions have ripped off five straight wins and look like the team to beat in the CFL. With Adams putting together a truly special campaign, can any defense stop BC?

Saskatchewan certainly couldn't in Week 6, giving up 35 points and well over 400 yards. While Adams did turn the ball over twice, he still managed to throw for a jaw-dropping 451 yards while leading the team in rushing with 39 on the ground.

Justin McInnis was even more impressive, and he deserves to be mentioned as being among the best wide receivers in the league following one of the most impressive two-game stretches in CFL history. After catching 10 passes for 144 yards and two scores in Week 5 against the Hamilton Tiger-Cats, he tallied 243 yards on 14 receptions against the Riders.

With All-Star receiver Keon Hatcher nearing his return, the Lions will only get scarier. Adams leads the league in passing yards (2,203) and touchdowns (12) while McInnis (725) and Alexander Hollins (656) are the top two in receiving yards.

The defense has been playing better in recent weeks, too. After holding Saskatchewan to just 20 points, the Lions are allowing the third-fewest points per game (24.2).

Until a team proves it can slow this offense, nobody will overtake the Lions atop the board. A $10 winning bet on these odds would pay a $23 profit. 

Best odds: +230 via DraftKings | Implied probability: 30.30%

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Alouettes (+250)

The Alouettes lost for the first time since September of last year. It's hard to blame them though, as Fajardo went down with a hamstring injury early and Montreal fell apart.

Fajardo was 5-for-6 passing with 62 yards prior to the injury, and the Alouettes were looking good. When he left, Caleb Evans came in and pretty much immediately threw a pick-6 on an ugly screen. The offense looked discombobulated with Evans under center. He kept his team alive during the first half, but Montreal could only generate three second-half points.

We know Montreal's offense can get the job done under Fajardo, and the defense remains the CFL's best even if it struggled to stop the run in this one. However, until we know the status of Fajardo, it's hard to hold confidence in Jason Maas' squad winning the Grey Cup.

Assuming Fajardo isn't out long though, this could be the best price for Montreal for the rest of the season. A $10 winning bet on these odds pays $25.

Best odds: +250 via BetMGM | Implied probability: 28.57%

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Argonauts (+500)

Toronto finally beat Montreal, but I'm not putting much stock in the win. The Argos took advantage of an Alouettes team that was without the CFL's second-best QB and benefitted from a brutally thrown pick-6.

Cameron Dukes still showed very little at quarterback for Toronto. He did go 16-for-20 and didn't turn the ball over, but he threw for just 131 yards. Dinking and dunking with your quarterback doesn't win Grey Cups. But Toronto did win and he didn't make mistakes, which was promising.

Toronto clearly wants to run the ball, and Ka'Deem Carey looked spry against the CFL's best defense in the CFL. If Carey can keep it up, and Dukes doesn't make many mistakes, the Argos could be in really good shape once suspended QB Chad Kelly returns.

I don't expect much movement on this price until the return of Kelly, but it'll surely get shorter when he's back under center. For now, a $10 winning bet pays a $50 profit. 

Best odds: +500 via DraftKings | Implied probability: 16.67%

My Grey Cup team to watch

Roughriders (+650)

Like with Toronto, and Montreal while Fajardo is out, it's hard to assess the Roughriders. They managed to start the season 4-0 under new head coach Corey Mace, but then Saskatchewan lost starting QB Trevor Harris to a knee injury in Week 3.

With Harris out for the next few weeks, Shea Patterson has been serviceable. But similar to Dukes, he's not going to win contests when the passing game is leaned on often. The Roughriders were playing behind all game against BC, and Patterson wasn't able come through in the end.

While he did help cut the lead to two in the fourth quarter, Patterson was never going to win a duel with Adams. But both A.J. Ouellette and Samuel Emilus played their best football of the season, and Patterson wasn't awful by any stretch. Even with Harris out, the Riders look more competent than the rest of the teams outside of the top three.

Saskatchewan's real test comes in Week 7 against the Winnipeg Blue Bombers, the other team I'd say holds a chance outside of the top three. The outcome of that game should really impact this price. But for now a $10 winning bet pays a $65 profit. 

Best odds: +650 via FanDuel | Implied probability: 13.33%

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Past Grey Cup winners

How to bet on the Grey Cup

Betting on Grey Cup odds is straightforward. First, choose a reputable sportsbook offering CFL futures. Check the odds for each team; for example, if the Toronto Argonauts are +400 and the Calgary Stampeders are +600, a $100 bet on the Argonauts would win you $400 if they win the Grey Cup. Place your bet by deciding how much to wager. If you bet $100 on the Argonauts at +400 and they win, you’ll get $500 back ($400 profit + $100 stake). Keep an eye on the teams' performances throughout the season to see how your bet is shaping up.

Future markets are mainly about performance and perception. If a team performs better or worse than expected, their odds will change. Injuries to key players can significantly impact a team's chances and thus their odds. Trades and new player acquisitions can also affect a team's Grey Cup odds. Public betting trends play a role; if many people are betting on one team, sportsbooks might adjust the odds to balance their risk. Expert analysis and predictions can influence how people bet, which in turn affects the odds. Understanding these factors helps you make more informed bets and potentially take advantage of favorable odds movements.

How to read Grey Cup odds

Odds are typically presented in a format like +400 or -150. Positive odds (e.g., +400) show how much profit you’d make on a $100 bet. For example, a $100 bet at +400 odds would win you $400, plus your original $100 stake, totaling $500. Negative odds (e.g., -150) indicate how much you need to bet to win $100. So, a $150 bet at -150 odds would win you $100, plus your $150 stake, totaling $250.

These odds also reflect the implied probability of a team winning the Grey Cup. Lower odds (e.g., +200) suggest a higher probability of winning, while higher odds (e.g., +800) indicate a lower probability. Sportsbooks adjust these odds based on factors like team performance, injuries, trades, and betting patterns.

For example, if the Toronto Argonauts have +400 odds and the Calgary Stampeders have +600 odds, the Argonauts are considered more likely to win. If you bet $100 on the Argonauts and they win, you’d get $500 back ($400 profit + $100 stake). Understanding these odds helps you make informed betting decisions and assess potential returns.

Grey Cup FAQs

Who are the Grep Cup favorites?

The BC Lions are the Grey Cup favorites with odds as short as +210, which implies a 32.26% probability they'll win the Grey Cup, according to our odds calculator. 

Who won the Grey Cup last year?

The Montreal Alouettes defeated the Winnipeg Blue Bombers, 28-24, in the 110th Grey Cup at Tim Hortons Field in Hamilton, Ont. It was Montreal's first Grey Cup victory since the 2010 season.

When will the 2024 Grey Cup be played?

The 111th Grey Cup will be played Sunday, Nov. 17.

Where will the 2024 Grey Cup be played?

The 111th Grey Cup will be played at BC Place in Vancouver, B.C. It will be the 17th time Vancouver has the championship game and first since 2014.

How to watch the 2024 Grey Cup

RDS and TSN will broadcast the 111th Grey Cup, respectively, in French and English.

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