Cy Young Odds 2024: Cole, Strider Enter Spring Training As Early Favorites

Gerrit Cole and Spencer Strider enter MLB's spring training as the favorites to win the 2024 Cy Young awards for the AL and NL, according to the latest MLB odds from our best MLB betting sites.

We haven't seen a repeat winner for AL Cy Young since Pedro Martinez pulled it off in 1999-2000, but oddsmakers are already preparing for an epic encore from New York Yankees ace Gerrit Cole in 2024.

The six-time All-Star ran away with this award in 2023, claiming all 30 first-place votes after pacing the American League in ERA (2.63), WHIP (0.981), and innings pitched (209). He enters spring training as the consensus favorite over Toronto's Kevin Gausman, though this year's field is as a crowded as ever.

In the National League, two Atlanta Braves pitchers are near the top, including the favorite in Spencer Strider. He finished fourth in voting last year despite leading the field in strikeouts (281) and wins (20), and he'll surely be in the mix by the end of the 2024 season, too.

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 sports betting apps.

American League Cy Young odds 2024

(Odds updated March 5)

AL Cy Young 2024 favorite

Gerrit Cole (+590 via Caesars)

After years of finishing in the top five in Cy Young voting, Cole finally broke through in 2023 to win the award for the first time in his 11-year career.

As mentioned above, Cole paced the AL in a cadre of key stats - including ERA, WHIP, IP, H/9, and W-L record - all while making 33 starts for the second consecutive season. That's a feat in and of itself in today's MLB, when nearly half of all starters hit the injured list at one point or another.

That's the main concern with betting on a repeat performance from Cole, who has somehow avoided the dreaded injury bug as he enters his age-33 season. Can he stay healthy for another full season? And if he does, can anyone outpace his otherworldy production?

AL Cy Young odds 2024: Contender

Corbin Burnes (+1000 via Caesars)

We had Kevin Gausman in this spot before the Burnes trade, and he remains a worthy contender after producing a career-best and AL-leading 11.5 K/9 in 2023, all while incredibly tallying 14 outings with one run or fewer allowed. He deservedly finished third in Cy Young voting and remains the master of deception with that filthy splitter.

Even so, Burnes immediately becomes the most interesting challenger in this market as one of the only former Cy Young winners in the field. He won the NL Cy Young award with the Brewers in 2021 but will compete on the AL side for the first time in his career after joining the Orioles - who saw their World Series odds move after the trade, too.

Burnes didn't seem himself last year by posting a 3.39 ERA, but he led the NL with a 1.07 WHIP and still finished eighth in the final ballot. He feels due for positive regression in 2024, especially with the move to the pitcher-friendly Camden Yards.

AL Cy Young odds 2024: Long shot

Dylan Cease (+3000 via FanDuel)

I just can't seem to quit the idea of Cease eventually breaking through and winning the first Cy Young award of his career. And now, after a down season in 2023, we're catching odds that are simply too long for one of MLB's most talented arms.

Let's not forget that Cease finished second in Cy Young voting in 2022, when he spun a sterling 2.20 ERA over 184 innings while striking out more than 30% of the batters he faced. The White Sox ace regressed in 2023 with a 27.3% strikeout rate - which still ranked fourth in the AL - as the team collapsed around him.

Cease has been the subject of trade rumors for weeks, with the Yankees entering the scene as of late. If the flamethrowing righty can "get right" in a better environment in 2024, he has the profile to make noise in this market.

Recent AL Cy Young winners

AL Cy Young betting analysis

After winning his first Cy Young award in 2023, Gerrit Cole is the opening favorite to win again this season. He and Kevin Gausman are the only pitchers with consensus odds shorter than 10/1, while AL newcomer Corbin Burnes joins Framber Valdez in the clear next tier across our best sportsbooks.

Detroit Tigers ace Tarik Skubal has been a popular name in this market, and he's shot up the oddsboard. His longest odds are now +1400.

Dylan Cease (+3000) is a name to watch among the dark-horse contenders with the pure stuff to contend in a loaded field in 2024.

National League Cy Young odds 2024

(Odds updated March 5)

NL Cy Young Odds 2024: Favorite

Spencer Strider (+550 via DraftKings)

Even after Blake Snell took home NL Cy Young honors in 2023, there's little question about the best pitcher in the majors entering the 2024 season.

Strider burst onto the scene in 2022 with a 2.67 ERA and 1.83 FIP while punching out a ridiculous 38.3% of the batters he faced. He took a step back in efficiency in 2023 but still paced MLB in strikeouts (281) and K/9 (13.5) with an NL-best 2.85 FIP to finish fourth in Cy Young voting.

Can he take another step forward and claim this award in 2024? Strider struggled at times to avoid a spiraling performance on the mound last season, but if he can develop a better plan for the second and third time through the order, he clearly has the blistering fastball to carry him to a Cy Young award.

NL Cy Young odds 2024: Contender

Zac Gallen (+1400 via BetMGM)

Gallen has been in the mix for this award for much of his five-year career, finishing in the top 10 on three separate occasions after a third-place finish in 2023. So why is he catching +1400 odds via BetMGM to finally break through in 2024?

The Arizona Diamondbacks ace saw a slight dip in his fastball velocity last season, but he compensated for it with four secondary offerings that featured a 20% whiff rate or better, including a nasty curveball (40.6% whiff rate) and changeup (31.4%) that he threw a combined 36.6% of the time.

Gallen has been the model of consistency in recent years, and his 210 innings last season were the second-most in baseball. This isn't a sexy bet, but there's value at this price on one of the most dependable arms in the NL.

NL Cy Young odds 2024: Long shot

Tyler Glasnow (+2000 via BetMGM)

I'm tempted to focus this section on Hunter Greene, who is dealing as high as +4200 at FanDuel, but that's more of a pure upside play than a true value bet. This, on the other hand, is the ideal mix of both.

By this point, we all know the deal with Glasnow, whose 120 innings last season served as the high-water mark of his career. In today's game, though, it's a minor miracle any time a pitcher reaches 30 starts, and it feels like Glasnow's price is being inflated even as he continues to post elite numbers under the hood.

Over the second half of the 2023 season, Glasnow finished second in MLB in fWAR (2.4) and FIP (2.55) and fourth in SIERA (3.07) and strikeout rate (31.7%), all while leading the majors in first-strike rate (71.5%) and called strike + whiff rate (CSW) (33.1%). That sounds like a bona fide ace to me, injury issues aside.

Now Glasnow heads to the NL with a chance to post eye-popping numbers for the Los Angeles Dodgers, who should be relevant through the final day of the MLB season. There's risk here, but that's true of every pitcher on the board, and few possess the pure upside of Glasnow at such a compelling price.

Recent NL Cy Young winners

NL Cy Young betting analysis

Atlanta occupies two of the top six spots in the opening odds, with Strider as the favorite and Max Fried dealing among the second or third tier of pitchers.

Zack Wheeler owns the second spot on the board after an electric season with the Philadelphia Phillies, though he's followed closely by Logan Webb and Zac Gallen. All three of those pitchers have been reliable in recent years but haven't quite broken through to earn their first Cy Young award.

If you're looking for a long shot in this market, consider those with elite strike-throwing potential whom the market is discounting for one reason or another. Tyler Glasnow has elite upside with injury concerns pushing him down the market, while Yoshinobu Yamamoto checks all the boxes but hasn't proven it in the majors.

How to bet on the Cy Young award

Betting on the Cy Young Award in baseball involves predicting which pitchers, one from each league (American League and National League), will receive the award for being the best pitcher in their respective league. Here are steps to consider if you're interested in betting on the Cy Young Award:

1. Understand the award: The Cy Young Award is given annually to the best pitchers in Major League Baseball, one for each league. Voters, which include sportswriters and broadcasters, consider several factors like a pitcher's wins, ERA, strikeouts, WHIP, innings pitched, and overall performance throughout the season.
2. Research pitcher performances: Analyze the statistics and performances of pitchers in both leagues. Look for pitchers who consistently have strong performances, low ERAs, high strikeout rates, and a significant number of wins.
3. Consider historical trends: Look at past winners and trends. Certain teams, ballparks, or leagues might favor certain types of pitchers. Consider how previous winners' stats compared to the current season's top performers.
4. Evaluate current season stats: Review the current season's statistics and compare them with previous years. This will help in determining which pitchers have a strong chance of winning the award based on their performance this season.
5. Check multiple sportsbooks: Once you've identified potential candidates, visit sports multiple sportsbooks to ensure you get the best price. They offer betting lines and odds on the Cy Young Award winners. You can place bets on the pitchers you believe have the best chance of winning.

Remember, betting on awards involves an element of prediction and risk. It's essential to stay informed about the season's developments, injuries, and performances to make informed betting decisions. Additionally, odds and betting options may vary among sportsbooks, so it's advisable to compare and find the best odds before placing your bet.

MLB Cy Young FAQs

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 the 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 Blane Snell took home the National League honors. In doing so, Snell became the seventh pitcher to win the a Cy Young in both the AL and NL.

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