2024 NASCAR Championship Odds and Predictions

As the 2024 NASCAR Cup Series season opener quickly approaches, we are analyzing the current 2024 NASCAR Championship odds. Following Ryan Blaney’s first Cup Series title in November 2023, the odds to win the NASCAR Championship have reset for the 2024 season at sports betting sites.

Can Blaney win consecutive championships and deliver a three-peat for Team Penske? Let’s dive into the latest NASCAR odds and make our NASCAR Championship predictions.

NASCAR Championship Odds

The following NASCAR Championship betting odds are courtesy of Bovada:

Hendrick Motorsports has the odds-on favorites to win the 2024 NASCAR Cup Series title. Kyle Larson is the betting favorite to win the championship at +500 odds.

Teammate William Byron, who had a breakout campaign in 2023, has the second-best NASCAR Championship odds. Another Hendrick driver, Chase Elliott, is tied with defending champ Ryan Blaney for the third-best Cup Series Championship odds at +700.

Where To Bet On The NASCAR Championship?

Motorsports wagering has boomed in popularity over the last few years. The interest is expected to grow even more at NASCAR betting sites in 2024. With that in mind, it’s important to make the right choice for NASCAR betting and that starts by selecting the best online sportsbook.  

For our top recommendation, we suggest checking out Bovada. This online betting site is an exemplary NASCAR betting platform. In addition to betting on the NASCAR Championship, Bovada will have odds for every race throughout the Cup Series season.

The NASCAR odds at Bovada include a variety of prop bets that you can’t find anywhere else. If you are looking to bet on head-to-head matchups, or even Top 5 or Top 10 finishers, then Bovada is the choice for you. Additionally, Bovada has manufacturers betting for wagering on Ford, Chevrolet, or Toyota winning the race.

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Favorites To Win NASCAR Championship

Before getting into our NASCAR Championship predictions, let’s evaluate the Top 3 favorites to win the Cup Series in 2024:

Kyle Larson (+500)

Larson was in prime position to win the 2023 NASCAR Championship. Heading into the Championship 4 in Phoenix, Larson was a +170 favorite to win the title. Unfortunately, he would come up short, as 30-year-old Ryan Blaney captured his first Cup Series championship.

The 2021 NASCAR Cup Series champion started slowly last year, with a P18 finish at Daytona, and then P29 at Fontana. Struggling at a superspeedway isn’t new for Larson, but Fontana was a disappointing result.

Seven races into the season, Larson won his first race at Richmond Speedway. He won two weeks later at Martinsville on the short track before faltering in P33 at Talladega and P32 at Dover Motor Speedway.

It was that kind of season for Larson. He had 11 finishes outside the Top 25, but also 15 performances in the Top 5¹. Two years after a record-breaking 10-win, championship campaign, it was feast or famine for Larson this past season.

The native of Elk Grove, California, should be expected to be a top contender for the 2024 NASCAR crown. Hendrick Motorsports will have another fast car for him this season.

Aside from a disastrous 2020 season, Larson has finished in the Top 10 in four out of the last five seasons. That includes the Cup Series title in 2021². 

For a driver of his skill level, Larson just needs a reliable car to be back in the running for the title in November. There haven’t been any discerning reports out of the Hendrick garage, so we expect more of the same from the No. 5 Chevy.

William Byron (+650)

Byron couldn’t outlast Larson and Blaney to win the Championship 4 race at Phoenix. Nevertheless, there wasn’t another Cup Series driver who was more consistent than Byron in 2023.

Last season, Byron finished with many of the best metrics in NASCAR. He certainly would have been a deserving champion.

Byron led all drivers with six wins and tied with Larson for the most Top 5 finishes. Additionally, there wasn’t another driver that had as many Top 10 performances as Byron in 2023.

The 26-year-old notched 21 Top 10 finishes. He was the only driver to finish the season with at least 20 Top 10s. In addition to the six victories, Byron led NASCAR with nine stage wins. And, only Larson led more laps than Byron last season³.

Byron was also fast in qualifying sessions. He started in the Top 5 on the grid in 15 events⁴. After tasting a bit of success last season, expect Byron to continue to ride that momentum into 2024.

Despite Team Penske dominating over the last three years, Hendrick Motorsports is in a good position to steal back some of that thunder. If Elliott can bounce back, they should have the three best drivers for the 2024 season.

As it stands now, Byron has taken over as the No. 2 driver for Hendrick Motorsports. This year, it wouldn’t be surprising if he overtakes Larson in the Cup Series standings.

Ryan Blaney (+700)

Despite not having the best numbers entering the Championship 4, Blaney finished P2 at Phoenix Speedway to capture his first NASCAR Cup Series Championship. He ran the best when it mattered the most in the NASCAR Playoffs.

Under the current points format, peaking at the right time is crucially important. It’s exactly what Blaney managed to pull off for Team Penske. In the last six races, Blaney finished P1, P12, P6, P2, P1, P2.

After finishing P22 at Bristol and P28 at Texas Motor Speedway, Blaney caught fire after a win at Talladega. The championship moment for Blaney was the win at Martinsville before heading to Phoenix to clinch the Cup Series title.

In just his second season at the NASCAR Cup Series level, crew chief Jonathan Hassler was celebrating a championship alongside Blaney. Look for Blaney and Hassler to generate even more chemistry working together.

Fresh off a championship season, Blaney could be even better this season. We should see Blaney be more consistent, with more Top 5 finishes for the No. 12 Ford Mustang. Also, his average finishing position should bump up from 14.083 to roughly 12 or 11.

Hendrick Motorsports is stacked, but Team Penske and Blaney could spoil the party with another championship in 2024.

Best NASCAR Championship Betting Value

Tyler Reddick (+1400) is our choice for the best betting value on the board in regards to the 2024 NASCAR Championship odds.

Tyler Reddick is coming off the best season of his Cup Series career and is looking for more in 2024. Since the transition to the Next Gen Cup cars, Reddick has been one of the best drivers on the grid in NASCAR.

In the Next Gen era, Reddick is tied with Joey Logano, Denny Hamlin, and Christopher Bell for the third-most wins. Larson is second with seven wins, while Byron leads NASCAR with eight wins in a Next Gen car.

Only Larson has a better average starting position than Reddick in the Next Gen era⁵. In addition to having a fast car, Reddick has run well in road courses. Last season, one of Reddick’s two wins came at Circuit of The Americas.

NASCAR continues to embrace road course circuits, so it bodes well for Reddick this season. He also finished P6 at the Charlotte Road Course and P2 at the Indianapolis Road Course⁶.

In Reddick’s second win, he won at Kansas Speedway, a week after finishing P2 at Darlington. As the Cup Series implements a more diverse schedule, Reddick is well-equipped to win at short tracks, road courses, superspeedways, 2 miles, and even on the dirt.

Reddick, at +1400 odds, is the best value bet on the board to win the NASCAR Cup Series Championship.

Best NASCAR Championship Longshot Pick

Ty Gibbs at +3300 odds is our choice for the best longshot driver to win the 2024 NASCAR Championship.

The 2022 NASCAR Xfinity Series champion, and 2023 NASCAR Cup Series Rookie of the Year, is poised to take a big leap forward in 2024. After riding for Joe Gibbs Racing full-time in the Toyota Camry, Gibbs had some ups and downs, but impressed as a rookie.

Gibbs’ 10 finishes in the Top 10 is about as good as anyone expected out of the 21-year-old Monster Energy driver. This past season was more about getting Gibbs acclimated and comfortable in the NASCAR Cup Series. Expectations were kept relatively low.

At times, Gibbs certainly exceeded what people predicted. Toward the end of the 2023 season, Gibbs was starting to show a glimpse of the future. He finished P5 at Bristol, P4 at the Charlotte Road Course, and P7 at Homestead, in the final two months of the season⁷.

With a year of NASCAR Cup Series racing under his belt, look for Gibbs to be more assertive this season. He should gradually turn more of those Top 10 finishes into Top 5 results in 2024.

If Gibbs can qualify for the NASCAR Playoffs, which is entirely likely, you aren’t going to find +3300 NASCAR Championship odds on Gibbs any longer. Among the longshot Cup Series betting odds, Gibbs is the best driver with the greatest upside at Bovada.

NASCAR Championship Prediction

In 2023, Byron set the standard in NASCAR. He didn’t win, but still fought to the end with a P4 finish at Phoenix. If he catches a break in the final laps in the Championship 4, we are talking about how Byron dominated in all aspects of the season and having a title to show for it.

Despite failing to finish the job in Phoenix, Hendrick Motorsports was thrilled with his work last season. Byron doesn’t have to change much to have the same level of success in 2024.

After gaining valuable experience in the 2023 NASCAR Playoffs, we are confident that he’ll go back prepared to win it all this time.

With +650 odds to win the NASCAR Championship, Byron is a top play to break up Team Penske’s dominance and deliver Hendrick Motorsports’ 15th Cup Series title.

Who Won Last Year’s NASCAR Cup Series Championship?

Team Penske’s Ryan Blaney won the 2023 NASCAR Cup Series Championship. Blaney went P2, P1, and P2 in the final three postseason races to clinch his first driver’s title in the Cup Series.

Who Won The Most NASCAR Cup Series Championships?

Jimmie Johnson, Dale Earndhardt, and Richard Petty are tied for the most NASCAR Championships of all time. The NASCAR legends all have seven championships. Among active Cup Series drivers, Kyle Busch and Joey Logano both have two championship titles on their resumes.