Yankees' World Series odds see major shift following Juan Soto report

The New York Yankees' odds to win the World Series have seen a massive shift following a report that they are "close" on a Juan Soto deal.
San Diego Padres left fielder Juan Soto.
San Diego Padres left fielder Juan Soto. / Kamil Krzaczynski-USA TODAY Sports
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The New York Yankees reportedly are "close" on a deal for star outfielder Juan Soto, and that has caused a major shift in the team's World Series odds for the 2024 season.

MLB Network's Jon Morosi revealed that the Soto deal is "close to being finalized" and that Michael King and Drew Thorpe are likely the main pieces that New York would move for Soto. The 25-year-old oufielder hit 35 home runs for the San Diegoe Padres last season while driving in 109 runs.

DraftKings Sportsbook has made an immediate move to the Yankees ' odds, bumping them from +1300 to +800. This is is a sign that sportsbooks expect New York to land Soto this offseason.

If the team doesn't land Soto, these odds would likely move back closer to the +1300 number.

Morosi also reported that newly-acquired outfielder Alex Verdugo would not be heading to San Diego in a deal for Soto.

This means the Yankees could be bringing in multiple left-handed outfield bats to take advantage of the short porch in right field.

New York missed the playoffs last season, and it appears the team is back to big-game hunting in the offseason. Soto, a three-time All-Star, is an MVP-caliber player that would give Aaron Judge some protection in the New York lineup.

Yankees latest World Series odds

A movement like this in the odds is a signal from Vegas that the Soto deal is nearly done for New York.

While bettors and fans shouldn't believe that the deal is done until that is announced, the market is reacting in a way that we'd expect if Soto was already dealt to New York.

It's interesting to see the Yankees at this short of a number since they still have other holes on the roster to fill -- especially in the pitching staff -- but adding a player of Soto's caliber is certainly a huge boost to an offense that struggled for most of the 2023 season.

If you're looking to bet on the Yankees, consider doing so at DraftKings Sportsbook before the odds move even more! For a limited time, DraftKings is offering a great deal for new users that sign up with the link below. All you need to do is place a $5 wager to receive $150 in bonus bets!

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Game odds refresh periodically and are subject to change.

Find Peter Dewey's betting record here.