MLB Cy Young 2022 odds update: Sandy Alcantara remains NL favorite, Dylan Cease among AL sleepers

As we approach the halfway point of the 2022 MLB season, the Cy Young betting odds markets continue to fluctuate. In our last MLB CY Young odds update, Miami’s Sandy Alcantara and Tampa Bay’s Shane McClanahan were the odds-on favorites in their respective leagues. Since then, both players' odds to win the Cy Young have decreased, as each pitcher continues to stifle their opposition every fifth day, but just because they're bolstering their cases doesn't mean other NL and AL sleepers should be ignored by bettors.

Below, we’ll break down the latest odds for both AL and Cy Young favorites while also discussing some of our favorite sleepers and long shots.

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Who's the 2022 NL Cy Young favorite?

All odds courtesy of Vegas Insider

Sandy Alcantara, Marlins (+150). Alcantara is an innings machine, most recently limiting the Angels to one run over eight innings on July 5. Prior to that, he pitched a complete game in a 4-3 win against the Cardinals on June 29.

The 26-year-old flamethrower has had a league-leading eight outings of eight-plus innings. Alcantara’s making a legit case to start the 2022 All-Star game and is starting to separate himself as the man to beat in the Cy Young race.

It might be too late to get involved with Alcantara, as it’s probably best to hold off and hope he has a rough outing or two leading into the All-Star break for his odds to increase a bit.

Who's the 2022 AL Cy Young favorite?

Shane McClanahan, Rays (+250). In our last Cy Young odds update, McClanahan was tied atop the odds board with Astros vet Justin Verlander at +350. As things currently stand, McClanahan has a 10-cent lead over Verlander (+260) and is coming off a dominant outing against an above-average Blue Jays offense (7.0 IP, 3 H, 1 ER, 10 K, 1 BB).

On the season, McClanahan sports a 9-3 record with a 1.74 ERA and 0.81 WHIP. What’s even more impressive is that he’s doing it in the most complete division in baseball. It might be worthwhile to get involved with McClanahan right now because a couple more consecutive quality outings will decrease his odds even more.

NL Cy Young 2022 sleepers

Zach Wheeler, Phillies (+1800). Wheeler (7-4, 2.66 ERA, 1.07 WHIP) hasn’t exactly had the season he’d hope for, but his most recent outing against the Cardinals on Sunday Night Baseball (7 IP, 0 ER, 5 K, 1 BB) has to infuse confidence back into the Phillies co-ace.

The Phillies have been on a tear since letting go of former manager Joe Girardi, going 21-9 under interim manager Rob Thomson. They'll need Wheeler to continue to provide quality starts each time he toes the rubber. Wheeler is certainly capable of getting back to his 2021 form with an efficient second half.

Betting Wheeler at this current number is a projection that he’ll build off his most recent start, keeping the Phillies in the NL wild-card race.

More NL Cy Young sleepers to consider: Carlos Rodon, Giants (+1800); Aaron Nola, Phillies (+2500)

AL Cy Young 2022 sleepers

Dylan Cease, White Sox (+1700). Cease has been one of the bright spots for an underwhelming White Sox team that entered the 2022 season as hefty favorites to win the AL Central. Despite the Sox inconsistent play, Cease has been consistent every time he gets the ball.

The 26-year-old righthander sports a 7-3 record with a 2.51 ERA with 125 strikeouts over 86 innings. His swing-and-miss stuff ranks in the 96th percentile in whiff rate and 95th percentile in strikeout rate. Cease is a true threat to eclipse double-digit strikeouts each start.

Chicago has won its past four games Cease has started, as his ability to limit his opponents’ offensive output gives the White Sox their best chance to win relative to the other starters in their rotation. If Cease continues his reliable pitching, he might sneak into the top five for the lowest odds to win the AL Cy Young.

More AL Cy Young sleepers to consider: Shane Bieber, Guardians (+2500); Logan Gilbert, Mariners (+3500)

NL Cy Young 2022 long shots

Max Scherzer, Mets (+4000). Scherzer made his return from a month and a half absence and dazzled over six full innings (0 ER, 2 H, 11K, 0 BB) on July 5. Missing a handful of starts makes Scherzer’s chances to win the Cy Young an uphill battle, especially with Alcantara’s season-long domination.

Even still, at 40-1, there’s a good chance Mad Max’s odds decrease during the stretch run of the regular season. It’s not often you find a starter with this sort of upside sitting at this price, and now’s the time to buy low on what could be an impressive second-half output from the three-time Cy Young award winner.

More NL Cy Young long shots to consider: Kyle Wright, Braves (+6600); Miles Mikolas, Cardinals (+8000)

AL Cy Young 2022 long shots

Framber Valdez, Astros (+6600). Valdez has played second-fiddle to Justin Verlander, but there’s no denying his importance to the AL West-leading Astros’ rotation. Valdez was our favorite long shot in our last Cy Young odds update, and with his odds climbing from 50-1 to 66-1, he’s still a valuable long shot to consider.

Valdez has posted a 4-1 record with a 2.49 ERA and 1.02 WHIP over his past seven starts, sporting an effective 50:19 K-to-BB rate over that span. Valdez also ranks in the 87th percentile in xSLG and 88th percentile in barrel rate, as his opposition is consistently unable to generate big innings off him. If Valdez continues pitching at this pace, his odds may climb back down to the 30-1 mark.

More AL Cy Young long shots to consider: Jameson Taillon, Yankees (+8000); Frankie Montas, Athletics (+10000)

NL Cy Young 2022 odds: Top 30

Odds courtesy of Vegas Insider

AL Cy Young 2022 odds: Top 30