Odds to win the AL Cy Young Award: Luis Castillo rockets up the leaderboard
Luis Castillo has moved from 14-to-1 odds up to +230 in less than two weeks. Photo by Nam Y. Huh/AP.

The shortest odds on the AL Cy Young leaderboard belong to Gerrit Cole, who is now the odds-on favourite for the first time this season.

The latest: Only three pitchers sit inside of 10-to-1 odds as we reach the midpoint of August, and Cole is still well ahead of the closest competitors. We still view Kevin Gausman as having the best value, while Luis Castillo could make an interesting case down the stretch.

Here are the latest AL Cy Young odds for the 2023 season.

AL Cy Young odds

Check out the latest odds to win the AL Cy Young. Click linked odds to add selection to your betslip.

PlayerOdds (Aug. 24)Odds (Aug. 12)Odds (preseason)
Gerrit Cole-141-286+800
Luis Castillo+230+1,400+1,600
Kevin Gausman+400+400+2,200
George Kirby+2,000+10,000N/A
Pablo Lopez+4,000+10,000N/A
Framber Valdez+6,000+900+1,500
Sonny Gray+7,500+7,500N/A

Best AL Cy Young odds

The favourite: Gerrit Cole (-141)

Cole carried 8-to-1 odds to win Cy Young in the preseason, but he's been the odds-on favourite for a couple of weeks now.

Still, his odds took a hit since our last check-in, as he's allowed eight runs over 10.0 innings since then.

Cole still leads the AL in ERA (3.03), but the margin is tighter than it was before. He's also first in innings (160.1), and that combo of volume and effectiveness should play well with voters.

It's been a down year for Cole in terms of strikeouts, as he's posting a 9.5 K/9. He paced the majors in strikeouts last year and put up a dazzling 12.4 K/9 over his previous five seasons.

The 11-year veteran has been a great pitcher from the jump, so it's a bit difficult to believe he's never won a Cy Young award. A win this year would go a long way in boosting his prospects of someday getting a bust in Cooperstown.

Other AL Cy Young choices

Best value: Kevin Gausman (+400)

Based on the current odds, Gausman would likely fall short of winning the AL Cy Young if the award was issued today. But he actually has a really solid case for the hardware.

The AL leader in strikeouts (195), K/9 (11.7) and fWAR (4.5) has pitched into the sixth inning or later in 15 of his past 18 starts. He owns a 2.99 ERA in that span.

Leading in FIP and K/BB ratio last year only landed Gausman ninth in the final AL Cy Young voting, but he's assuredly in for a better showing this year. The only question is whether or not he'll have what it takes to finish at the top.

If Gausman holds the overall strikeout lead and the K/9 lead through to the end of the season, that could provide some cachet with voters.

Player to watch: Luis Castillo (+230)

Look out, everybody. Here comes Castillo.

The Mariners ace was 14-to-1 in this market the last time we checked in. If you were paying attention then, good on you.

If not, well, he doesn't carry nearly the same value as before. Coming off seven innings of one-run ball, Castillo has a 3.15 ERA and a 10.0 K/9. He doesn't issue many free passes, either, evidenced by his 5.8% walk rate (87th percentile, per Baseball Savant).

Somehow, he's never appeared on a Cy Young ballot, but this is the year for that to change.

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