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 Grayson Rodriguez, who just replaced Blake Snell as the most recently injured pitcher, who hit the IL last week. Did you get all that?

It also features Shane Bieber and Spencer Strider, who are sidelined for the season, and Gerrit Cole is likely still a few weeks away from throwing his first pitch during a 2024 regular-season game.

As a result, there's an early opportunity for others to rise, and many are taking advantage. Baltimore Orioles ace Corbin Burnes has won the NL award before and sits near the top of the American League odds, but Detroit Tigers southpaw Tarik Skubal has surpassed him as the favorite.

In the NL, Zack Wheeler of the Philadelphia Phillies and Tyler Glasnow of the World Series odds-favorite Los Angeles Dodgers have separated themselves from the pack.

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 May 1)

AL Cy Young odds analysis

May 1, 2024: The biggest news on May 1 is that Baltimore Orioles youngster Grayson Rodriguez was placed on the injured list with a shoulder injury. It's unknown for how long he'll be sidelined, but it will surely hurt his chances to win this award. Only FanDuel has appropriately adjusted his odds, so our advice is to not bet on him until we know more.

Skubal and Burnes are the clear favorites in this market, as even the likes of Cole Ragans and Pablo Lopez - who have odds shorter than +1000 at one of our best sports betting apps - are trading at prices far longer than any available for the front-runners.

The Seattle Mariners feature three starters in the top 10 on our oddsboard, with Logan Gilbert slightly ahead of teammates Luis Castillo and George Kirby. Additionally, fellow Mariner Bryce Miller is close to entering the fold, too.

All three of Gilbert, Castillo, and Kirby are providing bettors with plenty of value as they rank fourth, fifth, and third, respectively, by FanGraphs' Cy Young Award projections.

Odds to win National League Cy Young 2024

(Odds updated May 1)

NL Cy Young odds analysis

May 1, 2024: As is the case in the AL, two pitchers are beginning to separate themselves from the pack in the NL, though they face stiffer competition from a number of starters right on the edge of that "favorite" status.

Wheeler is the standout in this market with odds as short as +300, and Glasnow is as short as +475.

One of the best value bets right now is Logan Webb at his +1000 odds via FanDuel. He ranks second by FanGraphs' Cy Young projections and has been one of the most consistent pitchers in the majors during the last three seasons. The fact that his name is almost always involved in the Cy Young conversation could prove valuable with voters when the campaign ends.

Additionally, Zac Gallen is trading at +2400 via FanDuel, while he's as short as +900 at DraftKings. The former could be a result of his recent hamstring injury, but he's been cleared to make his next scheduled start. Therefore, if you're looking to back Gallen, now is the time to pounce.

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, and 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

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