The New York Yankees once again flexed their financial muscle in the offseason.
On top of adding the top free agent left-handed pitcher Carlos Rodon, New York also retained two of its marquee bats by re-signing first baseman Anthony Rizzo and right fielder and reigning AL MVP Aaron Judge.
The Yankees are hoping that trio plus their emerging, young stars will lead to their first AL pennant and World Series title since 2009. New York has reached the playoffs six straight seasons, five of which came under manager Aaron Boone, and advanced to the ALCS three times since 2017, but haven’t gotten over the hump.
Here’s a look at the Yankees’ 2023 outlook.
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Yankees Top Betting Odds 2023
Yankees MLB betting odds are current as of March 6, 2023, from Caesars Sportsbook.
- Win World Series: (+750)
- Win American League pennant: (+350)
- Win AL East title: (+115)
- Over/Under Win Total: Over 94.5 (-110) / Under 94.5 (-110)
Not surprisingly, given the roster and the fact the Yankees were the AL runner-up to the Houston Astros in 2022, they are among the favorites yet again. New York won 99 games and claimed the AL East over the Toronto Blue Jays by seven games, then defeated the Cleveland Guardians in the ALDS before being swept out of the ALCS by Houston.
Rodon, who won 14 games for the San Francisco Giants in 2022, expects to provide length to the Yankees’ starting pitching staff and replace Jameson Taillon, who signed with the Cubs. Unfortunately, Rodon will start the season on the injured list with an arm injury, joining 2022 acquisition Frankie Montas, who will also start the season out with shoulder inflammation.
When he makes his first start, Rodon will join Gerrit Cole, Luis Severino, and 2022 All-Star Nestor Cortes, Jr. to give New York arguably the deepest starting staff in the AL.
2023 MLB Futures Odds
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Yankees Futures Bets 2023
Yankees To Win World Series (+750) at Caesars Sportsbook
WAGER: 1 Unit
The Yankees’ motto is World Series or bust, and that should be the goal again in 2023. By retaining Judge, who hit an AL-record 62 home runs in 2022, and Rizzo, who protects Judge in the lineup and hit 32 homers of his own last season, New York’s offense should again be strong.
But the Yankees’ pitching should go toe-to-toe with anyone in the majors, including the Dodgers, Mets or Braves in the NL. If the Yankees get to the World Series, they might be the underdog if they face either of those three teams, but if chaos ensues as it did last season, there’d be no excuse for New York not to bring home the suddenly elusive World Series No. 28.
Yankees To Win AL Pennant (+350) at Caesars Sportsbook
WAGER: 1 Unit
New York looks like a good bet to reach the Fall Classic because its primary AL competition got weaker. Houston, which won the World Series, watched ace starter Justin Verlander depart to the Mets, and New York’s primary divisional competition, the Toronto Blue Jays, parted ways with middle-of-the-order masher Teoscar Hernandez.
New foils will avail themselves, especially since the Tampa Bay Rays shouldn’t have the same volume of injuries in 2023. But if you’re betting on an AL team to win the pennant, the Yankees are as good a pick as any.
Yankees To Win AL East (+115) at Caesars Sportsbook
WAGER: 1 Unit
The Blue Jays may have a say in this, but they also are propping up the Yankees’ odds to plus-money since the likes of Houston (-215), St. Louis (-130), and the Dodgers (-125) all open the season as minus-money favorites to win their divisions.
The Yankees have won the East in three of the past six seasons under Boone. The Blue Jays should be improved, but there’s no reason to think the Yankees won’t finish atop the standings again barring a catastrophic injury.
Yankees Over 94.5 Wins (-110) at Caesars Sportsbook
WAGER: 1 Unit
New York has won at least 99 games in three of Boone’s five seasons at the helm and won the division twice in that span. To finish in the top two in the AL East race, the Yankees will likely need to win 95 again.
There are some candidates for regression, notably Judge and Cortes, who won 12 games and pitched like an ace at times. But given the starters’ talent plus the volume of bullpen arms, they should get back, mainly Michael King, and Ron Marinaccio, who each was sidelined in the ALCS due to injury, plus free agent signing Tommy Kahnle. The Yankees should pitch and hit well enough to win 95-plus.
Yankees Player Prop Bets 2023
Aaron Judge AL MVP (+400) at Caesars Sportsbook
WAGER: 1 Unit
It’s been exactly a decade since Miguel Cabrera went back-to-back as AL MVP, and Shohei Ohtani will undoubtedly have a say in whether Judge repeats, barring a trade that sends Ohtani to the NL. But Judge enters the season with the second-shortest odds and has finished in the top-four in voting three times over his seven-season career.
The Yankees didn’t make any significant additions, only retentions, to their lineup. Judge, who starts his nine-year contract this season, will likely need to both stay healthy and have another MVP-caliber season for the Yankees to be in the mix for the AL pennant.
Gerrit Cole Major League Strikeout Leader (+500) at Caesars Sportsbook
WAGER: 1 Unit
Cole led the league and set a Yankees franchise record with 257 strikeouts in 2022. He has not yet pitched to Cy Young form in a Yankees uniform, though he did finish second in voting in 2021, but has finished atop the strikeout leaderboard twice in the past four seasons.
Cole winning the AL Cy Young, especially with reigning winner Verlander out of the picture, is another solid wager at +600. But him striking out the most players in the league feels more likely.
How to Bet Yankees Moneylines
Moneyline wagers are the easiest way of wagering MLB games. Simply, pick which team you believe will win a game and you’ll win your bet.
Odds may look tricky but shouldn’t be too hard to understand. For instance, if the Yankees are a -200 moneyline favorite to defeat the Boston Red Sox, bettors would need to wager $200 to win $100 in profit or win $0.50 profit per dollar wagered. If New York was a +120 moneyline underdog against the Blue Jays, it winning would pay users $12 profit in a $10 bet or $1.20 per dollar wagered.
These odds will change every day depending upon the Yankees’ pitching matchup and opponent, so there’s always an opportunity for value every step of the way.
- Yankees 2022 Moneyline Record: 99-63
How to Bet Yankees Run Line
Run Line betting is another common way to bet on MLB games, and it is the MLB version of spread betting. The typical spread listed is 1.5 runs, meaning a favorite would need to win by two-or-more runs or an underdog would need to win or lose by only a single run.
Odds can vary depending on the likelihood of the favorite covering. The run line would look like this: Yankees -1.5 (-170) vs Tigers (+140) or Yankees +1.5 (-140) vs Astros -1.5 (+120).
If the Yankees were a -1.5 favorite, they’d need to win by two-or-more. If they were a +1.5 underdog, they’d need to win or lose by only a run.
- Yankees 2022 Run Line Record: 76-95
How to Bet Yankees Over/Unders
If the odds aren’t lucrative enough to bet the Yankees on the moneyline, but you’re not sure they can cover the run line, bettors could also wager on MLB totals. In MLB totals betting, gamblers are invited to determine whether there will be over or under a predetermined number of runs, usually about 8.
Given the Yankees’ power-laden offense, wagering on them to hit the over in the regular season is usually a good wager, especially at homer-friendly Yankee Stadium. But if Cole, Rodon or Cortes are facing a rival’s ace, the under is a good play.
Usually the over/under odds will be between -120 to +100, which gives bettors a more consistent payout than wagering the wild swings of moneyline and run-line betting.
- Yankees 2022 Over/Under record: 79-87-5