MLB Cy Young Odds 2024: Now is the Time to Bet on Zack Wheeler

• Corbin Burnes has retaken the lead as the favorite to win the AL Cy Young award

• Freddy Peralta continues to climb and is the favorite in some books for the NL Cy Young award

• Zack Wheeler is still the favorite to win the NL in some books, but has seen his odds drop elsewhere

Amidst injuries and a couple of games played for each team’s ace pitcher, the Cy Young award markets have seen plenty of changes just a few weeks into the season. The AL Cy Young award has been a two horse race with Tarik Skubal and Corbin Burnes swapping places for first while the NL Cy Young award has seen a cluster of names all grouped together. There is still plenty of season left for someone to pull away from the rest of the pack, bringing value to the top of the board before their odds steadily drop. Zack Wheeler is one of the elite pitchers with value still on his number as a market leader, making him worth a wager now before the Phillies defense rounds back into form.

MLB Cy Young Award Odds

Odds courtesy of Caesars Sportsbook. Click on the odds in the table below to head to Caesars Sportsbook and place your bets. Claim up to $1,000 in bonus bets* should you lose your first wager with the Caesars sportsbook.

AL Cy Young Award Odds

NL Cy Young Award Odds

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MLB Cy Young Award Predictions and Favorites to Win

AL - Corbin Burnes +550 at FanDuel

Corbin Burnes dropped down to second place for the AL Cy Young award in the last installment of this piece, now trickling back up to first in some sportsbooks after a few more appearances. Burnes has been consistent since the start of the regular season, possessing an ERA of 2.28, a WHIP of 0.930, 25 strikeouts, 18 hits allowed, four batters walked, and six earned runs against. While those numbers are very impressive, it’s befuddling as to why he has gained traction back to first as his opponent Tarik Skubal has paced him in nearly every previously mentioned metric. Pass on Burnes for now as we may see his number drop again.

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AL - Tarik Skubal +600 at Caesars

Like Corbin Burnes, Tarik Skubal has found himself at the top of the board for the AL Cy Young award in what is shaping up to be a two horse race. The only lingering downside to Skubal over the course of his career has been his history of injuries, potentially knocking him out for a prolonged period of time and burying his chances of winning the award. When healthy, Skubal is as dominant as it gets as he has an ERA of 2.08, a WHIP of 0.750, 20 strikeouts, an astonishing nine hits allowed, four batters walked, and four earned runs against. He has played one less game than Burnes, potentially moving back up to first in the market with another successful outing.

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NL - Zac Gallen +600 at FanDuel

While the Diamondbacks have gotten off to a slow start to start their 2024 campaign, Zac Gallen has not been to blame as he continues to dominate as their ace pitcher. Gallen has the lowest ERA of this crop of elite pitchers, standing at 1.64 in four games played. It is worth noting that his contact rate has been trickling up as his WHIP is currently 1.136 and has 18 hits allowed while walking seven batters. Luckily opposing teams have yet to punish him with runners on base, only giving up four earned runs against him. Still, if his lack of command continues to persist, negative regression looms and may hamper his chances of winning the Cy Young award.

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NL - Freddy Peralta +800 at DraftKings

The Milwaukee Brewers were wildly expected to regress back towards the middle of the NL Central this season, yet have managed to get off to a hot start even amidst injuries. They currently sit at first in the division with Freddy Peralta playing a major part towards their success as an elite ace pitcher. While his ERA is around the middle of the pack for pitchers jockeying at the top of the award market, his WHIP is the lowest as it is currently at 0.679. Peralta has done an excellent job at punching out opposing batters, keeping scoring at a minimum and giving their offense a chance to apply pressure against their opponents with a lead.

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NL - Tyler Glasnow +1300 at FanDuel

Tyler Glasnow was last week's pick to win the NL award and he rewarded us with an excellent performance the following night. Glasnow then jumped up the board as a potential contender, giving us excellent CLV. That was until his latest performance against the lowly Washington Nationals, getting rocked early and dropping his ERA down to 3.72. His WHIP is still competitively low and an indicator for success over the long run, but his high number of earned runs against have bumped him back down the board. Sitting back at last week's number, Glasnow is potentially worth a wager should you believe that his performance against the Nationals was a blurb.

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MLB Cy Young Award Winner - My Pick

NL - Zack Wheeler +700 at Caesars Sportsbook

The more things change, the more they stay the same as Zack Wheeler has been the consistent leader at the top of the NL Cy Young award market. While he is still the favorite in some sportsbooks, Caesars has actually dropped his odds a decent amount as he is currently +700. That makes him worth a wager in a clustered race for the NL Cy Young award, getting more cushion on his number for potential hedge targets later in the year. He may be 0-3 as a starter, but his defense is largely to blame as his individual performance has rivaled that of other elite pitchers. Expect positive regression to swing back towards the mean, turning the Phillies back into a contender and boosting Wheeler’s chances to win the award.

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Cy Young Award History 

With Gerrit Cole out for a majority of the year with an injury, a new face will join the long list of elite pitchers as a AL Cy Young award. As for the NL, reigning champ Blake Snell has stumbled out of the gate in his new home with the San Francisco Giants, opening the door for a new winner as well. We have not seen a repeat winner for either award since Jacob deGrom won the NL Cy Young award back to back in 2018 and 2019. In the last five years alone, Corbin Burnes is currently the only one with a chance to win the award twice in that span.

AL Cy Young Award Winners

NL Cy Young Award Winners

How to Read MLB Cy Young Award Odds 

Like in every bet you make, it’s vital to understand how the listed odds work. While there are no players currently in this market with a negative sign in front of their odds (-130 for ex.), you may see that later on. Should Zack Wheeler’s odds say that he is a -130 favorite, then you would have to wager $130 to profit $100. At his current listed odds of +700, then a $100 wager profits you $700.

How to Choose the Best Sportsbook for Betting on the Cy Young Award

Multiple factors play into what makes the best sportsbooks for betting on the Cy Young. For starters, odds vary between sportsbooks which makes it vital to have as many as you can get in order to line shop. When looking to wager on Zack Wheeler, you can see that his odds are as high as +700 and as low as +500. That is a difference of $200 in lost profit for a $100 bettor should you take his lowest listed odds. Be sure to always line shop in order to maximize your potential for profits.

Each sportsbook also has a unique new user sign up offer that you can read in the table below. With the Caesars sportsbook, you can claim up to $1,000 in bonus bets should you lose your first wager after creating an account. Be sure to collect all the mobile sportsbooks that your state has available for you, taking advantage of as many new user promotions as you can to boost your bankroll for the MLB season.

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