It's time to start locking in to the races for the playoffs and season-long awards with the MLB campaign heading into the homestretch.

Unlike the MVP awards in both leagues, the Cy Young awards have been competitive markets and seemingly will be until the final out is made in the regular season. It's looking more like a two-pitcher race in the American League, but seeing where we were a month ago -- when Framber Valdez, who is now +1500 to win it, was in the lead -- things have been shaken up a bit, so we could still see some chaos from here on out.

Let's see where current things stand according to the Cy Young odds at FanDuel Sportsbook.

AL Cy Young Odds

1. Gerrit Cole, New York Yankess

FanDuel Sportsbook Odds: -260

Gerrit Cole has taken over as the favorite for the AL Cy Young, which would be the first such award of his career.

While the New York Yankees are struggling, there's no doubt that Cole has held up his end of the bargain. The Yanks' ace has a 2.76 ERA and 166 strikeouts so far this season, but when you pop the hood, he hasn't been the best in the league.

While the Yankees ace does have an impressive ERA, his 3.74 skill-interactive ERA (SIERA) actually ranks 17th in the majors. He also has a 3.33 FIP, which ranks 13th. His 26.6% strikeout rate is nearly six percentage points lower than it was last year.

Cole has been good, and if the Yankees end up making the playoffs, it'll be on his back. But that doesn't mean it should be a foregone conclusion -- especially with a month and a half to go -- that the AL Cy Young is his. There's room for others to jump in.

2. Kevin Gausman, Toronto Blue Jays

FanDuel Sportsbook Odds: +400

If you're looking for an advanced stats darling who could take the AL Cy Young, Kevin Gausman is your guy.

Gausman has been sensational this season as he's in the midst of his best year. He has a career-high strikeout rate at 32.5%, trailing only Spencer Strider (among all pitchers) in that respect. The righty has a 3.05 SIERA (also only trailing Strider) and a league-best 2.72 FIP.

Out of all pitchers, he has the highest WAR -- per FanGraphs -- at 4.4, so there's no doubt that Gausman should be in heavy consideration come the end-of-the-year Cy Young voting.

Between the two, ERA is the only surface-level mark that actually favors Cole, so Gausman looks like an appealing option at +400.

3. Luis Castillo, Seattle Mariners

FanDuel Sportsbook Odds: +1000

The Seattle Mariners are surging, and Luis Castillo is one of the reasons why.

Castillo has been Seattle's ace since they acquired him at the 2022 deadline, and he hasn't let them down. His 3.52 SIERA ranks ninth in the league. However, he does have a rather high 3.92 FIP.

The hurler is averaging 10.2 strikeouts per nine innings (K/9) and could have narratives going in his favor if he pushes Seattle into a playoff spot.

4. Framber Valdez, Houston Astros

FanDuel Sportsbook Odds: +1500

A month ago, Framber Valdez was the odds-on favorite to walk away with the AL Cy Young, but he has since fallen on some hard times.

In four of his last five starts, Valdez has allowed four or more runs. In the one start that he didn't, Valdez threw a no-hitter. It's been a pretty crazy handful of starts, but he still has respectable numbers that keep him in the conversation.

The ERA is up to 3.30, and his SIERA sits at 3.51. His overall numbers are still solid, and if he's able to match more of what he was doing in the first half of the season, Valdez can get back in the fight. But his recent poor run has put his odds way behind Gausman's and Cole's.

5. Shohei Ohtani, Los Angeles Angels

FanDuel Sportsbook Odds: +3500

At this stage in the season, Shohei Ohtani should be seen as the AL MVP.

That's what happens when you're able to strike out 165 batters while hitting 41 home runs in the same season. But when it comes to winning the AL Cy Young, Ohtani feels pretty out of the race despite his historic overall season.

Through 130 2/3 innings, Ohtani has a 3.64 SIERA, 31.4% strikeout rate, and a 4.03 FIP.

All good-to-great marks as the strikeout rate is a top-three clip in the majors, but they're probably not going to be enough to push him into legit Cy Young contention unless Ohtani goes on a lights-out run to end the year.

Ohtani will likely be fine taking home the MVP hardware he pretty much locked up long ago.

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The above author is a FanDuel employee and is not eligible to compete in public daily fantasy contests or place sports betting wagers on FanDuel. The advice provided by the author does not necessarily represent the views of FanDuel. Taking the author's advice will not guarantee a successful outcome. You should use your own judgment when participating in daily fantasy contests or placing sports wagers.