2024 Grey Cup Odds: Winnipeg Favored to Earn Redemption

The Winnipeg Blue Bombers were stunned by the Montreal Alouettes in the 2023 Grey Cup, but they are favored in the very early betting as we look at the latest 2024 Grey Cup odds.

Feb 27, 2024 • 13:44 ET • 3 min read
Collaros Winnipeg Blue Bombers CFL
Photo By - USA TODAY Sports

There was a CFL odds shocker in the 2023 Grey Cup final when the heavily favored Winnipeg Blue Bombers were picked apart in the second half by Cody Fajardo and the Montreal Alouettes, en route to a 27-24 defeat. It was their second straight loss in the final after faltering vs. the Toronto Argonauts in 2022.

Despite these shortcomings, Zach Collaros and the Blue Bombers are the favorites in the early wagering to earn their second Grey Cup since 2021. With free agency having kicked off, let's take a look at the latest Grey Cup odds for 2024.

2024 Grey Cup odds

Team Caesars
Blue Bombers Winnipeg Blue Bombers +200
Argonauts Toronto Argonauts +225
Alouettes Montreal Alouettes +600
Lions BC Lions +600
Stampeders Calgary Stampeders +1,000
Tiger Cats Hamilton Tiger-Cats +1,200
Roughriders Saskatchewan Roughriders +1,200
Elks Edmonton Elks +2,500
RedBlacks Ottawa Redblacks +2,800

Odds as of February 27, 2024.

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Favorites to win the 2024 Grey Cup

Winnipeg Blue Bombers (+200)

Mike O'Shea's club fell just short of reaching CFL immortality in 2022, as they could've been the first team to three-peat since Edmonton did so in the 1980s. The Blue Bombers brought much of the same roster back in 2023, including two-time MOP quarterback Zach Collaros, but they came up just short in a thrilling season finale.

Nevertheless, the Blue Bombers remain a dynasty of sorts and should be in the running next season.

Toronto Argonauts (+225)

The Argonauts' stunning exit in the 2023 divisional round was one for the ages as they committed nine turnovers vs. the eventual Grey Cup champions. However, led by Chad Kelly, the betting favorite for much of 2023 has a solid chance to rebound and make it two championships in three seasons in 2024.

Montreal Alouettes (+600)

Nobody gave Montreal much of a chance vs. the mighty Argonauts in the divisional round, especially after Toronto swept the three-game season series, but a 106-yard Pick 6 early in the first quarter had the Argos playing catch-up for most of that tilt. Then came the Grey Cup final and Cody Fajardo's unforgettable performance. 

Did Montreal simply get hot at the right time, or is this something they can build on going into a fresh campaign? 

• Edmonton has won the most Grey Cup titles (11) during the league’s post-merger era.

• The CFL’s Most Outstanding Player has been a member of the Grey Cup-winning team just four times since 2010.

• There have been just 10 instances of a Grey Cup-winning team repeating as champions the following season.

Past Grey Cup winners

As noted above, having such a small league and lots of player movement promotes a lot of parity among the teams. Seven of the nine current CFL clubs have won a Grey Cup over the last 10 seasons.

The Toronto Argonauts have the most Grey Cup titles in league history with 17, while the Winnipeg Blue Bombers lead the CFL with 27 Grey Cup appearances.

Season Grey Cup Champion Runner-up
2023 Montreal Alouettes Winnipeg Blue Bombers
2022 Toronto Argonauts Winnipeg Blue Bombers
2021 Winnipeg Blue Bombers Hamilton Tiger-Cats
2020 No season: COVID-19 related. N/A
2019 Winnipeg Blue Bombers Hamilton Tiger-Cats
2018 Calgary Stampeders Ottawa Redblacks
2017 Toronto Argonauts Calgary Stampeders
2016 Ottawa Redblacks Calgary Stampeders
2015 Edmonton Eskimos Ottawa Redblacks
2014 Calgary Stampeders Hamilton Tiger-Cats
2013 Saskatchewan Roughriders Hamilton Tiger-Cats

Understanding CFL futures

Sportsbooks release CFL futures odds shortly after the end of the previous football season. Picking the outright winner of the Grey Cup is one of the only other ways to wager on CFL futures. During the offseason and preseason, you'll be able to get a nice plus-money price on basically any team in the CFL as there is so much uncertainty around what will happen next year, particularly in a league with only nine teams.

CFL futures odds will usually look like this:

  • Hamilton Tiger-Cats +285

This means that on a $100 bet, you'll stand to profit $285 should Jeremiah Masoli & Co. capture their first Grey Cup title since 1999. If it's close to the end of the season or one team is simply that dominant, you might see a minus sign (-) ahead of their odds.

  • Saskatchewan Roughriders -175

This means that you would need to bet $175 to win $100 if Saskatchewan wins the Grey Cup.

Of course, futures odds are a fluid market. They can change every day based on news, injuries, suspensions, etc. And they will certainly change based around big CFL events, such as free agency or the draft.

All the odds seen above are in American format. If you find decimal format or fractional format easier to read, simply convert the odds using our simple odds converter tool.

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