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MLB Cy Young Odds 2024: Yamamoto to Dazzle as a Rookie

Written by: Kody Malstrom
Updated March 5, 2024
8 min read
  • Gerrit Cole won the AL Cy Young in 2023

  • Blake Snell made a comeback and won the NL Cy Young in 2023

  • Spencer Strider and Gerrit Cole are the favorites to win the Cy Young in their respective leagues

While Gerrit Cole paced the AL, Blake Snell made a heroic comeback per the betting markets to capture the NL Cy Young after a dominant second-half stretch. Cole finds himself on top of the board to potentially repeat while Blake Snell is still a free agent looking for a home, making the NL Cy Young more intriguing than ever, especially with the emergence of rookie sensation Yoshinobu Yamamoto, potentially making an instant impact in his debut year.

MLB Cy Young Odds

MLB Cy Young Award Odds

Odds courtesy of FanDuel Sportsbook. Click on the odds in the table below to head to FanDuel sportsbook and place your bets. Get a $150 bonus when you sign up at FanDuel sportsbook and win your initial wager of $5 or more. 

AL Cy Young Award Odds

Player Odds
Gerrit Cole +500
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Kevin Gausman +750
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Pablo Lopez +1000
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Framber Valdez +1000
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Corbin Burnes +1000
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NL Cy Young Award Odds

Player Odds
Spencer Strider +500
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Zack Wheeler +850
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Logan Webb +1000
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Zac Gallen +1200
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Max Fried +1200
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MLB Cy Young Award Predictions and Favorites to Win

AL - Gerrit Cole +500 at FanDuel

It was a dominant year for the 2023 AL Cy Young winner as Gerrit Cole blitzed through opposing batters with ease. He comfortably led the league in WAR while finishing second in ERA to the NL Cy Young winner Blake Snell. Cole was a lone bright spot for an underwhelming Yankees season, now having the ability to play a major part in a bounce-back year. An argument can be made to bet on him now as his odds will not be this high should he get out to a hot start, but I’ll pass for now and use him as a hedge piece.

NL - Spencer Strider +500 at FanDuel

Spencer Strider is the epitome of the saying all gas no brakes as he paced the league in total strikeouts for the year. Strider finished his 2023 campaign with 281 total strikeouts, 44 more strikeouts than second-place finisher Kevin Gausman. Offseason reports are saying he has added more pitches to his arsenal to make him an even more dangerous pitcher as if he wasn’t already elite. Like Cole, Strider serves as more of a hedge piece with someone more valuable down the board worth a wager.

AL - Kevin Gausman +750 at FanDuel

If it wasn’t for Gerrit Cole having a miraculous year, then Kevin Gausman would have garnered some attention for the AL Cy Young. The issue is that his ERA didn’t quite match his strikeout dominance, finishing seventh in ERA at 3.16. To make matters even worse, Gausman is already dealing with an injury before the season even started. While nothing structural, it was reported that Gausman is dealing with a shoulder injury correlated with fatigue. Not exactly a great sign for a season-long outlook.

NL - Zack Wheeler +850 at FanDuel

It was a tale of two halves for Zack Wheeler as he put together a monster second half of the season after underwhelming in the first half. Granted not all the blame should have been put on his shoulders in the first half as the Phillies struggled with their defense, but that’s how voters saw it per the betting markets. Fresh off of a new three-year contract with the Philadelphia Phillies, Wheeler will look to start the same way he ended 2023 but is a pass until we see how the Phillies back end shapes out.

MLB Cy Young Award Winner - My Pick

NL - Yoshinobu Yamamoto +1300 at FanDuel Sportsbook

The Dodgers had one glaring issue in their 2023 campaign and that was with their pitching depth. They made sure to plug that hole heading into 2024 as they brought in major names like Tyler Glasnow and most notably Yoshinobu Yamamoto. Yamamoto was heralded as the next big thing as a dominant overseas pitcher and has immediately dazzled in the spring league so far. He is a multi-tool pitcher who can burn opposing batters with elite command and speed. Should he maintain a modest workload as the Dodgers ace, then Yamamoto will find himself firmly in the race for the Cy Young in his rookie year.

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Cy Young Award History 

With the MLB seemingly shifting towards a pitchers league, the Cy Young race has become more exciting than ever as plenty of big names are capable of making their case to win the prestigious award. Gerrit Cole and Blake Snell set the standard last season, yet have their hands full heading into 2024 against a stacked pitching class. No one has repeated as a Cy Young winner since Jacob deGrom in 2018-2019. 

AL Cy Young Award Winners

YearWinner
2023Gerrit Cole
2022Justin Verlander
2021Robbie Ray
2020Shane Bieber
2019Justin Verlander

NL Cy Young Award Winners

YearWinner
2023Blake Snell
2022Sandy Alcantara
2021Corbin Burnes
2020Trevor Bauer
2019Jacob deGrom

How to Read MLB Cy Young Award Odds 

When looking to make a wager in the Cy Young Awards market, it’s worth knowing how the odds work before placing that bet. Should a player’s odds have a negative sign in front of their listed odds (-125 for example), then that means you need to wager $125 to win $100. If they have a plus sign (+150) then that means a $100 wager will win $150 in profit should that player win. 

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

It’s critical as a sports bettor to have as many sportsbooks available as you can get in order to line shop. Especially when placing a wager in the futures market like the Cy Young as odds can drastically differ between each sportsbook as shown below. In Yamamoto’s case, FanDuel offers his odds at +1300 while Caesars has him listed at +1000. That is a $300 difference in profit should Yamamoto win the award.

BetMGMCaesarsFanDuel
Yoshinobu Yamamoto Cy Young Odds+1300+1000+1300
Welcome BonusBet $5, Get $158 in Bonus Bets!*Up to a $1,000 First Bet on CaesarsBet $5, Get $150 in Bonus Bets 
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MLB Cy Young FAQs

Who Won the AL and NL Cy Young Awards in 2023?

Who Is the Favorite to Win the Cy Young Awards in 2024?

Who Was the Last to Repeat as a Cy Young Winner?

Who Has the Most Cy Young Awards?

Has a Rookie Ever Won the Cy Young?

When Will the MLB Cy Young Award Be Announced?

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AUTHOR

Kody Malstrom

13 Articles

Kody Malstrom is a sports betting journalist with six years of writing experience in the industry. He covers an abundance of sports, including College Football, NFL, College Basketball, NBA, and more. Born and raised in Michigan, Kody is a devoted Detroit Sports fan and spends his Sundays rooting for the Detroit Lions while telling himself this year is the year they win it all. When not staring at betting markets, Kody spends his free time at the beach in the summer or snowboarding in the winter.

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