2024 Cy Young Odds: Peralta Coming Into His Own as Brewers' New Ace

Freddy Peralta has taken over the role of Milwaukee Brewers ace admirably. He's the betting favorite at several books while trailing only Zack Wheeler at others.

Apr 22, 2024 • 13:45 ET • 7 min read
Freddy Peralta Milwaukee Brewers MLB
Photo By - USA TODAY Sports

For the first time in a couple of weeks, there hasn't been a major shakeup in the Cy Young odds, which can largely be chalked up to a slowing of injuries.

MLB odds are constantly reacting to all of this news, though some books are slower than others.

Let's see how the Cy Young odds are shaking out in both leagues.

Odds to win AL Cy Young award 2024

Player DraftKings FanDuel bet365 Caesars
Orioles Corbin Burnes +550 +470 +450 +400
Tigers Tarik Skubal +600 +600 +600 +525
Royals Cole Ragans +1,000 +1,400 +700 +1,100
Orioles Grayson Rodriguez +1,000 +1,400 +1,000 +1,200
Twins Pablo Lopez +1,200 +750 +750 +700
Twins Joe Ryan +1,500 +1,700 +1,600 +1,500
Angels Reid Detmers +1,800 +2,700 +2,500 +1,750
Mariners Logan Gilbert +2,000 +1,700 +1,800 +2,000
Blue Jays Jose Berrios +2,500 +2,100 +1,600 +2,200
Mariners George Kirby +2,800 +2,300 +2,500 +2,500
Mariners Luis Castillo +3,000 +1,800 +1,800 +2,000
Blue Jays Kevin Gausman +3,000 +3,500 +4,000 +4,000
Yankees Gerrit Cole +3,000 OTB +6,500 +3,000
Mariners Bryce Miller +3,000 +5,500 +6,000 +4,500
Yankees Carlos Rodon +3,000 +5,000 +3,000 +3,000
Rays Zach Eflin +4,000 +4,600 +5,000 +5,500
Rangers Nathan Eovaldi +4,000 +4,000 +3,000 +3,500
Astros Framber Valdez +4,000 +5,500 +5,000 +4,000
Astros Cristian Javier +4,000 +8,000 +4,000 +6,000

Odds as of 4-22-24.

AL Cy Young odds analysis

4/15/2024: Reid Detmers was trading as high as 40/1 at our last update. Those lines are long gone, and he's shorter than 20/1 at some books. He owns a 1.19 ERA through 22 2/3 innings across four starts. The lefty still isn't the most efficient, requiring 90 pitches to get through 5 1/3 against the Rays in his last outing, but he's done a wonderful job of preventing runs. He allowed seven hits in that Tampa start but only two runs plated and only one was earned.

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Odds to win NL Cy Young award 2024

Player DraftKings FanDuel bet365 Caesars
Brewers Freddy Peralta +450 +500 +450 +450
Phillies Zack Wheeler +500 +420 +450 +375
Dodgers Tyler Glasnow +700 +800 +800 +900
Diamondbacks Zac Gallen +800 +1,200 +900 +850
Giants Logan Webb +1,000 +1,000 +1,000 +1,000
Dodgers Yoshinobu Yamamoto +1,200 +2,500 +1,300 +1,800
Phillies Aaron Nola +1,500 +2,000 +1,600 +2,500
Padres Dylan Cease +1,800 +1,600 +1,800 +1,600
Cardinals Sonny Gray  +2,000 +1,600 +1,800 +1,600
Cubs Shota Imanaga +2,000 +2,500 +2,200 +1,500
Phillies Ranger Suarez +2,500 +3,500 +2,800 +2,500
Braves Chris Sale +2,500 +3,000 +3,000 +2,800
Giants Jordan Hicks +3,000 +5,500 +5,000 +4,500
Giants Blake Snell +3,500 +5,000 +3,500 +5,000
Braves Max Fried +3,500 +5,000 +5,000 +4,500
Padres Yu Darvish +4,000 +7,500 +5,000 +6,000
Pirates Mitch Keller +4,000 +9,000 +5,000 +5,000
 Reds Hunter Greene +4,000 +7,500 +5,000 +5,000

Odds as of 4-22-24.

NL Cy Young analysis

4/22/24: Zack Wheeler, and Freddy Peralta are listed in the top two spots at all books with some variance regarding who's the ultimate favorite. Wheeler is in the more favorable position, pitching for the team with better World Series odds, but Peralta has made the most of his opportunities as the Milwaukee Brewers ace in the wake of the Corbin Burnes trade and injury to Brandon Woodruff. Fastball Freddy is 2-0 with a 1.90 ERA, 0.76 WHIP, and 33 strikeouts over 23 2/3 innings to open the season.

Zac Gallen was the biggest mover on the week but in the wrong direction. He allowed five runs on nine hits against the San Francisco Giants in his last start, surrendering his first two long balls of the season in the process. With how tight these odds are, one bad start can derail a pitcher's progress.

Oh, and remember how Tyler Glasnow was in a position to make a huge jump with a looming start against the Nationals? Well, Washington tagged him for six runs on eight hits (two homers) over five rocky innings. He made up for that, however, by blanking the Mets over eight innings in his most recent outing, striking out 10, and more or less balancing his odds in the process.

Previous Cy Young Award winners

Here are the last 10 winners of the AL and NL Cy Young Award, with Cleveland and the New York Mets each leading the way with three. Overall, the Brooklyn/Los Angeles Dodgers have the most Cy Youngs all time (12), followed by the Milwaukee/Atlanta Braves, Philadelphia Phillies, Boston Red Sox, and Mets with seven.

Previous AL Cy Young winners

Year American League Winner
2023 Yankees Gerrit Cole
2022 Astros Justin Verlander
2021 Blue Jays Robbie Ray
2020 Guardians Shane Bieber
2019 Astros Justin Verlander
2018 Rays Blake Snell
2017 Guardians Corey Kluber
2016 Red Sox Rick Porcello
2015 Astros Dallas Keuchel
2014 Guardians Corey Kluber
2013 Tigers Max Scherzer

Previous NL Cy Young winners

Year National League Winner
2023 Padres Blake Snell
2022 MarlinsSandy Alcantara
2021 Brewers Corbin Burnes
2020 Reds Trevor Bauer
2019 Mets Jacob deGrom
2018 Mets Jacob deGrom 
2017 Nationals Max Scherzer
2016 Nationals Max Scherzer
2015 Cubs Jake Arrieta
2014 Dodgers Clayton Kershaw
2013 Dodgers Clayton Kershaw

Pitchers with multiple Cy Young awards

There are 22 pitchers who have won multiple Cy Young Awards, led by Roger Clemens' seven trophies. Of those 22 winners, six are still currently active in the Majors.

Pitcher Number of Cy Young Awards (Years)
Roger Clemens 7 (1986, 1987, 1991, 1997, 1998, 2001, 2004)
Randy Johnson 5 (1995, 1999, 2000, 2001, 2002)
Steve Carlton 4 (1972, 1977, 1980, 1982
Greg Maddux 4 (1992, 1993, 1994, 1995)
Seven different pitchers 3
11 different pitchers 2

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MLB Cy Young odds explained

Most sportsbooks will display odds in the American format as listed above. When Shane Bieber looked to have the AL Cy Young locked up in 2020, his odds had a minus (-) sign ahead of the number.

  • Shane Bieber -300

That means that a bettor in September had to wager $300 to win $100 by betting on Bieber. Before this year's race even began, every candidate had a (+) sign in front of their number.

  • Jacob deGrom +550

With deGrom's preseason odds, a bettor stands to profit $550 for every $100 wagered on him.

If American odds aren't your thing, simply use a tool like our odds converter to switch the odds to decimal or fractional format. Most online sportsbooks also give you the option to change the odds format that you see.

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MLB Cy Young Odds

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