AL & NL Cy Young Odds 2023: Shane McClanahan, Zac Gallen among favorites to win award

The 2023 Cy Young award races in the American and National Leagues are starting to heat up as teams battle for playoff positioning and try to distinguish themselves as contenders. Unlike the MVP race, the Cy Young race isn't always easy to handicap this early, as the odds are constantly moving based on a pitcher's last one or two starts. 

Last season, we saw Justin Verlander win the AL Cy Young after posting an 18-4 record with a 1.75 ERA and 185 strikeouts in 175 innings. For Verlander, it was his second Cy Young award in his illustrious 18-year career. As for the National League, Sandy Alcantara was tremendous for the Marlins. Alcantara had a 14-9 record with a 2.28 ERA and career-high 207 strikeouts in 228.2 innings. He also had six complete games and a 7.8 bWAR, most among pitchers.

Looking at this season's top candidates, Rays ace Shane McClanahan and Diamondbacks ace Zac Gallen are the current favorites to win the AL and NL Cy Young awards, according to BetMGM. McClanahan is receiving 9.3 percent of the tickets and 13 percent of the handle, while Gallen is receiving an overwhelming 20.7 percent of the tickets and 23.7 percent of the handle, per BetMGM Insights.

However, with three-plus months left in the 2023 regular season, the AL and NL Cy Young races are not over yet. Bettors should watch out for Kevin Gausman, Shohei Ohtani, Gerrit Cole, Clayton Kershaw, Zack Wheeler, and Spencer Strider, among others. All provide decent betting value right now at their current prices. Below, we’ll break down the top contenders and some of our favorite sleepers to win the AL and NL Cy Young.

AL Cy Young Odds 2023: Top 10

Odds courtesy of BetMGM. Click here for more odds and sign up for BetMGM today!

AL Cy Young Favorite

Shane McClanahan, Rays (+240). McClanahan has been arguably the best pitcher in baseball this season and plays on the best team in the majors. The 26-year-old right-handed pitcher has an 11-1 record, 2.12 ERA, 1.10 WHIP, and 97 strikeouts in 89.1 innings (15 starts). 

McClanahan currently leads the majors in wins (11) and ERA (2.12), and he's tied for fourth in quality starts (11) with Gerrit Cole. He's continued pitching well in June despite allowing a home run in each of his past three starts. McClanahan2.29 ERA and is holding opponents to a .176 batting average and producing a 27.3-percent strikeout percentage. If Tampa Bay finishes with the best record in the majors and wins the AL East, McClanahan has an excellent AL Cy Young award. It's a bit concerning that he has a 3.67 FIP and a relatively mediocre 1.6 fWAR (just 13th among qualified AL pitchers), but at +240 odds, there's still value in bettors jumping on his odds. If he continues to pitch well heading into the All-Star break, his odds will only shorten.

AL Cy Young Sleeper

Nathan Eovaldi, Rangers (+1200). With Jacob deGrom out for the rest of this season due to Tommy John surgery, Eovaldi will have to lead the Rangers' starting staff and try to keep Texas in first place in the AL West. The veteran righty has surpassed his win total from last season with the Red Sox (6) in his first year with the Rangers (9), and he's tied for third in fWAR (2.5) among qualified AL pitchers. Framber Valdez (3.0), Kevin Gausman (2.9), and Sonny Gray (2.5) are the only other AL hurlers as good or better. All are also worthwhile betting options, but Eovaldi stands out as a value bet because of his role as Texas' ace in their dominant season. 

Additionally, Eovaldi has a 2.80 ERA, 0.99 WHIP, and 96 strikeouts in 99.7 innings (first in the American League) through 15 starts. The 33-year-old won AL Pitcher of the Month in May after he posted a pristine 4-0 record with a 0.96 ERA and 31 strikeouts (five games). This month, Eovaldi has struggled a bit on the mound with a 3.91 ERA and five home runs allowed in his past three starts. If the veteran starter can finish the month strong and keep the Rangers in the thick of the AL West race, he's worth sprinkling a few dollars on.

More AL sleepers to keep an eye on: Joe Ryan, Twins (+3500); Cristian Javier, Astros (+6600)

NL Cy Young Odds 2023: Top 10

NL Cy Young Favorite

Zac Gallen, Diamondbacks (+170). Gallen is the current betting favorite to take home the Cy Young award despite not leading the majors in wins, ERA, and quality starts. The 27-year-old righty has an 8-2 record, 2.96 ERA, 1.13 WHIP, 2.46 FIP (first in the majors), and 100 strikeouts in 91.1 innings pitched. 

Gallen has played a significant role in the success of the Diamondbacks, who are currently 14 games above .500 and in first place in the NL West. He had a dominant April, producing a stellar 1.09 ERA, four wins, and 44 strikeouts in 32 innings. Gallen hasn't been able to duplicate those stats in May (3.34 ERA) and June (3.86 ERA), but he's been good enough to stay atop the odds board and lead the league in fWAR among pitchers (3.3). At +170 odds, bettors would be better off waiting and seeing if another pitcher tightens the gap and overtakes Gallen. If that scenario happens, his odds will drop to +200-300, giving us a ton of value on the young righthander.

NL Cy Young Sleeper

Marcus Stroman, Cubs (+1000). Stroman is flying the under as a Cy Young candidate despite the Cubs only being 3.5 games out of first place in the NL Central. The 32-year-old righty has quietly been one of the better starters in the NL this season, posting a 9-4 record, 2.28 ERA, 1.02 WHIP, and 83 strikeouts in 98.2 innings. His 2.28 ERA is the third best in the majors behind the two AL Cy Young frontrunners (Shane McClanahan and Framber Valdez).

The one-time All-Star also leads the majors in quality starts (14), which has helped the Cubs stay in striking distance in the NL Central. Stroman has posted a sub-3.00 ERA in four-straight months and is having an excellent June (1.40 ERA, 4-0). He should be in the running for NL Pitcher of the Month for June, which will bolster his resume to be a contender for the NL Cy Young award. At 10/1 odds, bettors have more to gain than lose, especially if Stroman has a strong finish before the All-Star break.

More NL sleepers to keep an eye on: Mitch Keller, Pirates (+1200); Merrill Kelly, Diamondbacks (+3000)