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Image for Jay Sanin Jay Sanin - Updated September 26, 2023

MLB Cy Young Odds: Cole and Snell Look to Hold as Huge Favorites

The 2023 MLB season has arrived, which means that a new race to win the Cy Young award has started in both the American and National Leagues. Here, we will analyze the current MLB Cy Young odds at various MLB betting sites, with our MLB experts regularly making their predictions throughout the season. 

With our MLB Cy Young predictions, we will show you value betting opportunities in each league’s betting markets throughout the season. Instead of going with the conventional wisdom for this award, our analysis will maximize the chances of turning a profit betting on the awards for the best pitcher in each league.

MLB Cy Young Odds

AL Cy Young Odds

Odds courtesy of bet365, correct as of 9/26/23

PlayerOddsTeam

Gerrit Cole

-5000
BET HERE

New York Yankees

Luis Castillo

+1400
BET HERE 

Seattle Mariners

Sonny Gray

+3500
BET HERE 

Minnesota Twins

Framber Valdez

+15000
BET HERE 

Houston Astros

Kevin Gausman

+25000
BET HERE 

Toronto Blue Jays

George Kirby

+25000
BET HERE 

Seattle Mariners

Pablo Lopez

+25000
BET HERE 

Minnesota Twins

NL Cy Young Odds

Odds courtesy of bet365, correct as of 9/26/23

PlayerOddsTeam

Blake Snell

-5000
BET HERE 

San Diego Padres

Justin Steele

+2000
BET HERE 

Chicago Cubs

Spencer Strider

+5000
BET HERE 

Atlanta Braves

Zac Gallen

+10000
BET HERE 

Arizona Diamondbacks

Logan Webb

+10000
BET HERE 

San Francisco Giants

Kodai Senga

+10000
BET HERE 

New York Mets

Zack Wheeler

+30000
BET HERE 

Philadelphia Phillies

Clayton Kershaw

+30000
BET HERE 

Los Angeles Dodgers

Corbin Burnes

+30000
BET HERE 

Milwaukee Brewers

Best MLB Betting Promotions

When betting on your MLB Cy Young predictions throughout the 2023 season, bettors will want to take advantage of the many MLB sportsbook promotions that are up for grabs. This includes the 20% deposit bonus worth up to $1,000 at DraftKings Sportsbook. Those bonus funds can be used to wager on this award at a nice plus price before having to risk any money of your own.

Also worth taking advantage of when betting on Cy Young futures is the $1,000 no-sweat first bet promotion from FanDuel Sportsbook. That offer lets bettors place their first wager on Cy Young futures, with the ability to receive $1,000 in site credit back if that first wager does not win. That peace of mind can really come in handy given the unpredictability of a full MLB season.

AL Cy Young Odds Analysis & Predictions

The AL Cy Young race is just about over at this point in time, as Gerrit Cole has run away with the competition. He is a -5000 favorite to come away with the award, as the regular season nears its end in 2023. Based on his body of work this season, it would take an immense upset in the voting for this award for anyone else to come away with it.

This year, Cole has lost just four times and has one of the best ERAs in the league. While none of that was enough to propel the New York Yankees into the postseason, Cole certainly did his part for a franchise that did not live up to the hype around him. Cole is likely to be rewarded individually for his efforts, though, in a silver lining for what has been a disappointing all-around campaign in the Bronx.

There are only two other pitchers inside of +5000 odds to win this honor, with those being Luis Castillo of the Seattle Mariners and Sonny Gray of the Minnesota Twins. Both of those men have had excellent seasons of their own. However, they have not quite had the same season that Cole has had in terms of sheer quality, as they will not be making a late charge to steal this hardware from the Yankees ace.

While his odds don’t carry a ton of value at this juncture, Gerrit Cole is still the right choice to win the AL Cy Young award. He has been the best thing about a Yankees team that has been a huge disappointment all season long. Barring a late-season meltdown, it should be Cole who claims this award and brings at least one trophy back to New York for the year.

NL Cy Young Odds Analysis & Predictions

The National League Cy Young award odds have completely shifted from where they were at the start of the 2023 MLB season. Last year’s unanimous Cy Young award winner, Sandy Alcantara, had a disastrous season, paving the way for several new contenders to have a chance to win this award. But this race is also all but over, thanks to the incredible pitching of Blake Snell.

Snell has taken back the honor of leading the league in ERA from Justin Steele of the Chicago Cubs. Despite being a .500 pitcher for the first half of the season, Snell has managed to win 14 games this year for a disappointing Padres team overall. Just like with Cole, Snell should be honored individually despite the shortcomings of his team.

The aforementioned Steele is the only other pitcher being given much of a chance to win this award in the National League in 2023. He has almost singlehandedly kept the starting rotation of the Cubs afloat this season, even after Marcus Stroman went down with an injury. While Steele may end up falling just short in the race for this award, he has nothing to be ashamed of this year.

After Snell and Steele, nobody is close to remaining in the race for the NL Cy Young. Pitchers like Zac Gallen and Spencer Strider were favorites to win the award earlier in the season, but they have completely fizzled out in their attempts to win it. Instead, it looks like Snell and Steele are the only two pitchers with a reasonable shot to get it done still.

For now, it feels like this award is Blake Snell’s to lose in the National League. The fact that he has led the league in ERA for much of the second half of the season and that he is doing his best pitching late in the season should impress plenty of voters for this award.

How To Read MLB Cy Young Odds

To read MLB Cy Young odds is easy to get used to, even for new sports bettors. The first thing to remember is that Cy Young odds are broken up by league, meaning there are AL Cy Young odds and NL Cy Young odds kept separate from one another.

In terms of understanding what the numbers next to each pitcher’s name mean, the first thing a bettor should look for is whether those numbers start with a plus sign or a minus sign. With plus prices, the numbers next to the plus sign represent the amount a bettor will win if they wager $100 on that pitcher and they claim the Cy Young for their league. Conversely, odds that begin with a minus sign signify the amount a bettor needs to risk in order to win $100.

For example, odds of +1000 indicate that a $100 wager on that pitcher would yield a $1,000 payout if that pitcher won this award. Or, if a pitcher has odds of -200, they would need to wager $200 in order to win a profit of $100 if that pitcher got the job done. For an easy way to calculate potential payouts, bettors can use our odds calculator.

It is worth noting that MLB Cy Young odds change constantly throughout the season based on how each pitcher is performing. Bettors should keep an eye on these odds regularly to look for the best prices they can find on each option.

Previous MLB Cy Young Winners

Previous AL Cy Young Winners

YearPlayerTeam
2022Justin VerlanderHouston Astros
2021Robbie RayToronto Blue Jays
2020Shane BieberCleveland Indians
2019Justin VerlanderHouston Astros
2018Blake SnellTampa Bay Rays
2017Corey KluberCleveland Indians
2016Rick PorcelloBoston Red Sox
2015Dallas KeuchelHouston Astros
2014Corey KluberCleveland Indians
2013Max ScherzerDetroit Tigers

Previous NL Cy Young Winners

Year

Player

Team

2022

Sandy Alcantara

Miami Marlins

2021

Corbin Burnes

Milwaukee Brewers

2020

Trevor Bauer

Cincinnati Reds

2019

Jacob deGrom

New York Mets

2018

Jacob deGrom

New York Mets

2017

Max Scherzer

Washington Nationals

2016

Max Scherzer

Washington Nationals

2015

Jake Arrieta

Chicago Cubs

2014

Clayton Kershaw

Los Angeles Dodgers

2013

Clayton Kershaw

Los Angeles Dodgers

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MLB Cy Young FAQs

Who won the AL Cy Young last year?

The 2022 AL Cy Young award was won by Justin Verlander, who won the award unanimously.

Who won the NL Cy Young last year?

Sandy Alcantara of the Miami Marlins won the 2022 NL Cy Young, and also did so in unanimous fashion.

Who was the opening favorite to win the 2023 AL Cy Young?

The opening favorite to win the 2023 AL Cy Young was Gerrit Cole of the New York Yankees.

Who was the opening favorite to win the 2023 NL Cy Young?

Reigning NL Cy Young winner Sandy Alcantara was the opening favorite to win the award in 2023.

How are the MLB Cy Young winners chosen?

MLB Cy Young award winners are chosen by the Baseball Writers' Association of America balloting at the conclusion of the regular season.

Where can I bet on the MLB Cy Young winners?

Every major online sportsbook, such as DraftKings Sportsbook and FanDuel Sportsbook, offers Cy Young award betting.

When are the MLB Cy Young winners announced?

The two Cy Young winners in Major League Baseball are announced after the completion of the postseason, even though the voting takes place before the postseason begins.

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AUTHOR

Jay Sanin

190 Articles

Jay Sanin is a sports bettor and writer from New York. He has been handicapping since the moment he was old enough to gamble legally, with his specialties being niche sports like the WNBA and XFL. He’s been told he has a voice for radio. He also has a face for radio.

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