Pictured: Blake Snell while with the San Diego Padres Photo by Matt Thomas/San Diego Padres/Getty Images

MLB futures: How Blake Snell’s signing impacts Giants odds, Cy Young race

Originally posted on Action Network | By Ricky Henne | Last updated 3/18/24

The reigning NL Cy Young Award winner finally has a home.

Blake Snell is reportedly signing a two-year, $62 million deal with the San Francisco Giants. Snell won his second Cy Young Award last year with the San Diego Padres, going 14-9 while leading MLB with a 2.25 ERA. Snell garnered 28 of 30 first-place votes, and now joins a rotation featuring last year’s Cy Young runner-up in Logan Webb.

2x Cy Young Award winner Blake Snell is reportedly heading to the Giants on a 2-year deal with an opt out after 2024. pic.twitter.com/OYvxrAqqVX
— MLB (@MLB) March 19, 2024

FanDuel listed Snell at +2200 to repeat as the Cy Young winner once news of his signing broke. It moved to +1800 within minutes, which slots in as the eight-best odds behind Spencer Strider (+400), Zach Wheeler (+900), Webb (+1100), Max Fried (+1200), Zac Gallen (+1300), Tyler Glasnow (+1400) and Yoshinobu Yamamoto (+1400).

The Giants are +1300 to win the NL West, +2300 to win the NL pennant and +5000 to win the World Series as of Monday night. They’re also +140 to make the playoffs. However, Action Network’s Senior Writer Sean Zerillo doesn’t see value in any number lower than +200. Here’s what he had to say about San Francisco prior to news of Snell’s signing:

“Public projections think that the Giants can snag a wild-card spot this season between 33% (+203 implied odds) and 41% (+143 implied odds) of the time, leaving enough of an edge at +230 (30.3% implied) to take a tiny stab in that market.”

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