The Rangers made the first blockbuster move of the offseason ahead of the winter meetings, signing two-time NL Cy Young winner Jacob deGrom to a five-year, $185 million contract, according to ESPN's Jeff Passan. With deGrom heading to the American League, we saw some movement in the Rangers' 2023 World Series odds.
After finishing fourth in the AL West last season, the Rangers are still long-shots to take the division crown from the Astros, but with the addition of an extra wild card team, a playoff berth and deep postseason run can never be completely ruled out.
Below, we’ll look at how BetMGM's World Series odds changed after the Rangers acquired deGrom.
2023 Rangers World Series odds: Before signing Jacob deGrom
| Rangers odds to win 2023 World Series: 11/29/22 | +5000 |
Heading into the offseason, the Rangers were considered a significant long shot to win the World Series next season at +5000 (50/1). In the first half of last season, Texas had a record of 41-49. However, things took a tumble after the All-Star break, with the Rangers posting a 27-45 mark. One of the main reasons for their struggles was their lack of high-quality starting pitching.
Last season, Rangers' starting pitchers had an ERA of 4.63 and WHIP of 1.41, which was good for 25th and 26th, respectively, in the majors. They also had issues keeping guys off the basepaths (3.60 BB/K9 -- 29th in MLB) and produced a quality-start percentage of 31, which is lower than the league average of 37 percent. Texas' best starting pitcher last season was Martin Perez, who led the staff with a 12-8 record and 2.89 ERA in 32 starts. Perez accepted his one-year, $19.65 million qualifying offer from the Rangers earlier this offseason and will be their No. 2 starter behind deGrom.
2023 Rangers World Series odds: After signing Jacob deGrom
| Rangers odds to win 2023 World Series: 12/3/22 | +3000 |
To no one's surprise, the Rangers saw their World series quickly improve with the signing of deGrom, as they are now 30/1 (+3000) to win it all.
The Rangers still have a lot of things to figure out this offseason before they think about competing for a World Series crown. However, adding deGrom was a good first step for a struggling rotation and a team that has not been to the playoffs since 2016. When healthy, deGrom is one of the best pitchers in baseball and is always a candidate to win the Cy Young. The key with the 34-year-old righty is the "when healthy" part. Since the start of 2020, he's missed starts due to right elbow, right forearm, right side, neck, back, and right shoulder issues. All told, he's made just 38 starts in that span, including a career-low 11 starts last season.
A stress reaction in his right shoulder cost deGrom four months last year, but he still had a 5-4 record and a 3.08 ERA in his 11 outings with the Mets. The 34-year-old also recorded 102 strikeouts in 64.1 innings pitched and had a FIP of 2.13, so the talent is clearly still there. During his last full season in 2019, deGrom went 11-8 with an ERA of 2.34 and had a career-high 254 strikeouts in 204 innings pitched.
With deGrom not having a no-trade clause, he's there for the long haul as the Rangers try to build a winning core around Marcus Semien and Corey Seager, who were signed to massive long-term contracts last season. For Texas to compete in the AL West, the Rangers need deGrom and Perez to lead the rotation and Semien to have a bounce-back year at the plate.
Betting advice: As of right now, it's way too early to bet on the Rangers' odds to win the World Series or American League until we see how things shake out during the winter meetings. While Rangers might have picked up one of the best pitchers in baseball, they are banking on deGrom staying healthy and hoping the rest of the starting staff can figure itself out. If the Rangers weren't in the AL West, which figures to once again be dominated by the Astros and Mariners, their chances to make the playoffs would be significantly better. However, the Rangers are in the AL West, so bettors should not invest too heavily in them unless they make another notable acquisition or two.