2024 Home Run Derby Odds: Ramirez Is A Sweet Value Bet

The 2024 Home Run Derby odds are out with with New York Mets slugger, and two-time champ, Pete Alonso favored this year when the event begins Monday, July 15 at Globe Life Field in Arlington, Texas. While Alonso is top of the oddsboard, I'm betting on a Cleveland Guardian that is providing odds of 10:1 for my HR Derby pick.

2024 Home Run Derby Odds

Odds as of July 15

2024 Home Run Derby Favorites

Pete Alonso (+300)

The odds would suggest you should bet on Pete Alonso to win the 2024 MLB Home Run Derby. The slugging New York Mets first baseman has won two of the last four events and is back for another crown this year.

It doesn’t really matter what Alonso is doing during regular MLB games, because he brings a separate mentality to the homer derby. His aggressive attitude makes him the fiercest Derby competitor of all time, and he'll be seeking revenge on July 15.

Adolis Garcia (+400)

While Garcia has crazy raw power, I'm surprised he's so high up on the HR Derby odds board. The Rangers slugger raced out to a crazy start this year, smashing eight homers alongside a .925 OPS in April. Since then, it's been a disaster. Garcia owns an awful .581 OPS in his last 59 games, homering just nine times during that span.

The Home Run Derby is about rhythm, an element Garcia lacks right now. Do not bet him on Monday.

2024 Home Run Derby Pick: Jose Ramirez (+1000)

He calls himself Barry Bonds, and I believe Ramirez is ripe for a big underdog win at the Derby Monday. Firstly, Ramirez is a switch hitter, meaning he can switch sides whenever he feels tired. That's a big advantage.

Beyond that, Ramirez arguably has more rhythm at the dish than ever before, crushing 23 homers (and 77 RBIs) through 89 games. That puts him on pace for a career-high 42 bombs. There's also the underrated "vet factor" Ramirez possesses. He's a mean S.O.B. at the plate, and the Derby can get extremely competitive.

At +1,000, Ramirez is one of the best value plays of the year, in my opinion. 

2024 Home Run Derby New Format

The 2024 Home Run Derby will feature all eight hitters competing in the first round, with the top four advancing to the semifinals, where seeds are determined by first-round performance.

There is now a pitch limit of 40 pitches in the first two rounds and 27 in the finals.

Bonus time is replaced by a bonus pitch period where hitters continue until they make three outs, with an extra out granted for home runs over 425 feet during the bonus period.

Recent Home Run Derby Winners