2024 Cy Young Odds: Betting Lines, Favorites for AL & NL Awards

There's some clarity and separation in the MLB Cy Young odds at our best MLB betting sites as we drift further into May.

The MLB Cy Young odds at our best sports betting sites still reflect the concerning pitcher injury list, which now includes Grayson Rodriguez and Blake Snell, with Shane Bieber and Spencer Strider done for the season, and Gerrit Cole still sidelined.

As a result, there's an 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. However, Detroit Tigers southpaw Tarik Skubal has surpassed him as the favorite at nearly all of our best live betting sites.

In the NL, Zack Wheeler of the Philadelphia Phillies and Tyler Glasnow of the World Series odds-favorite Los Angeles Dodgers were separating themselves, but now Shota Imanaga and Dylan Cease lurk not far behind. 

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 9)

AL Cy Young odds analysis

May 9, 2024: Burnes and Skubal are still close at the top, though the latter has been creating some distance lately.

As recently as a few days ago there was a split among our best sports betting apps regarding who should be the AL favorite, with Burnes the front-runner through FanDuel and bet365. FanDuel still hasn't budged, but now bet365 has shifted while moving Skubal from +350 to +300, and shifting Burnes from +320 to +350. Combine that with the more sizable advantages Skubal holds at Caesars and DraftKings, and a consensus is forming, at least for now.

There's a significant gap after those two, with George Kirby of the Seattle Mariners falling notably. He was listed at or close to +1600 almost across the board not long ago, but now the right-hander is up to +3000 through FanDuel, an outlier price you should pounce on now while the value lasts.

Elsewhere in rogue prices, hop on the +4000 for Kevin Gausman through Caesars if you believe in his continued turnaround after dealing with a spring training injury. He's listed at +2500 through DraftKings.

Odds to win National League Cy Young 2024

(Odds updated May 9)

NL Cy Young odds analysis

May 9, 2024: There's still plenty of space between the top two and the rest of the field in the NL. But ever so slowly several others are creeping up to threaten that lead pack.

Rising Chicago Cubs hurler Imanaga is the most significant mover recently. He was around +1500 a few days ago and is now down to +650 through DraftKings, only just outside of Glasnow territory.

Similarly, San Diego Padres ace Dylan Cease has climbed from around +1200 to as short as +850. He's taken advantage of Freddy Peralta's mild struggles and suspension, with the Milwaukee Brewers' hurler going from being among the favorites to now a mid-pack contender.

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

Here are our best MLB betting sites:

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• FanDuel Promo Code | Read our FanDuel Review
• DraftKings Promo Code | Read our DraftKings Review

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Related pages

• Best Sports Betting Sites | Best Sportsbook Promos (U.S. only)