Despite falling short in the past two Grey Cup games, the Winnipeg Blue Bombers enter the 2024 CFL season as the odds-on favorites to win it all at the 111th Grey Cup in Vancouver this November.
Stud QB Zach Collaros — a third-time Grey Cup winner and PFF's top-ranked signal-caller in the CFL — will be looking to lead Winnipeg to a fifth consecutive title game and its first championship since 2021.
Although listed on Sports Interaction as the +200 favorite, the odds suggest the Blue Bombers will once again have a difficult path to a title. The British Columbia Lions (+500), Montreal Alouettes (+500) and Toronto Argonauts (+550) all have better than 6-to-1 odds to win it all.
Let's take a look at the full odds board for the 2024 Grey Cup, and break down which teams represent the best bet and top value plays for the 2024 CFL season.
Grey Cup 2024 futures odds
All odds courtesy of Sports Interaction.
| Team | Odds |
| Winnipeg Blue Bombers | +200 |
| British Columbia Lions | +500 |
| Montreal Alouettes | +500 |
| Toronto Argonauts | +550 |
| Hamilton Tiger-Cats | +800 |
| Saskatchewan Roughriders | +1200 |
| Calgary Stampeders | +1600 |
| Edmonton Elks | +1600 |
| Ottawa Redblacks | +2000 |
Grey Cup 2024 betting favorite: Winnipeg Blue Bombers (+200)
It's no secret to anyone familiar with the CFL that Winnipeg is the odds-on favorite to be crowned 2024 Grey Cup champion. The Blue Bombers have the winner of two of the past three Most Outstanding Player awards in Zach Collaros, and they have arguably carried over more talent between 2023 and '24 than any other team in the league.
The Bombers have far more than just Collaros's arm. They also have Brady Oliveira, the reigning rushing leader and 2023 Most Outstanding Canadian, and a talented quartet of wide receivers including All-Stars Nic Desmski and Dalton Schoen. Winnipeg finished the '23 season ranked first in per-game yards (431.4) and points (33).
Head coach Mike O'Shea's squad plays defense, too. Three-time Most Outstanding Defensive Player Adam Bighill anchors the linebacking corps while defensive end Willie Jefferson relentlessly attacks opponents' pockets. Jefferson tallied 11 total sacks last season, while the Bombers surrendered the fewest per-game yards (319.6) and points (20.9) in the league.
Still, heartbreaking losses in consecutive Grey Cup appearances suggest that getting just two-to-one odds on Winnipeg is the definition of poor value. Let's take a look at a team more worthy of a preseason or early-season wager.
Grey Cup 2024 best bet: B.C. Lions (+500)
It almost feels like destiny for the B.C. Lions to finally take a big step forward and win it all this November. They would have the advantage of playing the Grey Cup in their home stadium if they were able to make it to the championship, as BC Place will be the host venue of the 111th iteration of the event.
Vernon Adams Jr. and the Lions' offense took off last season, and its defense often seemed impenetrable. If B.C. can take another big step forward in 2024, they should be able to end Winnipeg's dominant run and put a stop to a 12-year drought with a Grey Cup championship at home.
Grey Cup 2024 top value pick: Saskatchewan Roughriders (+1200)
The Roughriders have loads of talent, and if it all comes together this season we might look back at these futures odds with hearty chuckles come November.
Head coach Corey Mace and GM Jeremy O'Day have assembled a complete team from top to bottom, with a dependable QB in Trevor Harris, a solid defense, and arguably the best special teams unit in the CFL. Don't sleep on Saskatchewan.
Who has won the most Grey Cups in CFL history?
Out of all active teams, the Argos have earned the most CFL titles. Toronto has won the Grey Cup 18 times, four more than the next-closest franchise, Edmonton.
All nine of the active clubs have won at least one Grey Cup, with every team owning multiple championships with the exception of Ottawa.
Ottawa's old team, the Rough Riders, ironically have the most Grey Cups out of any of the defunct/amateur teams from the CFL's history.
| Team | Games | W | L | W-L% | Last Win |
|---|---|---|---|---|---|
| Toronto Argonauts | 24 | 18 | 6 | .750 | 2022 |
| Edmonton Elks/Eskimos | 23 | 14 | 9 | .609 | 2015 |
| Winnipeg Blue Bombers | 28 | 12 | 16 | .428 | 2021 |
| Hamilton Tiger-Cats | 22 | 8 | 14 | .364 | 1999 |
| Calgary Stampeders | 17 | 8 | 9 | .471 | 2018 |
| Montreal Alouettes | 19 | 8 | 11 | .421 | 2023 |
| BC Lions | 10 | 6 | 4 | .600 | 2011 |
| Saskatchewan Roughriders | 19 | 4 | 15 | .211 | 2013 |
| Ottawa Redblacks | 3 | 1 | 2 | .333 | 2016 |
| Team | Games | W | L | W-L% |
|---|---|---|---|---|
| Ottawa Rough Riders | 15 | 9 | 6 | .600 |
| Hamilton Tigers | 8 | 5 | 3 | .625 |
| Univ. of Toronto Varsity Blues | 6 | 4 | 2 | .667 |
| Toronto Balmy Beach | 4 | 2 | 2 | .500 |
| Queen's University | 3 | 3 | 0 | 1.000 |
| Sarnia Imperials | 3 | 2 | 1 | .667 |
| Baltimore Stallions | 2 | 1 | 1 | .500 |
| Hamilton Flying Wildcats | 2 | 1 | 1 | .500 |
| Edmonton Rugby Football Club | 2 | 1 | 1 | .500 |
| Toronto Parkdale Canoe Club | 2 | 0 | 2 | .000 |
| Winnipeg RACF Bombers | 2 | 0 | 2 | .000 |
| Hamilton Alerts | 1 | 1 | 0 | 1.000 |
| Montreal AA Winged Wheelers | 1 | 1 | 0 | 1.000 |
| St. Hyacinthe-Donnacona Navy | 1 | 1 | 0 | 1.000 |
| Toronto RCAF Hurricanes | 1 | 1 | 0 | 1.000 |
| Toronto Rowing Association | 1 | 0 | 1 | .000 |
| Winnipeg Tammany Tigers | 1 | 0 | 1 | .000 |
(Data via Canadian Football Hall of Fame)
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