The CFL odds were flipped on their head during Grey Cup 111, as the Toronto Argonauts knocked off the Winnipeg Blue Bombers as 9.5-point underdogs.
Prevailing 41-24 at BC Place, the Argos are favored to repeat as champs come next November, as 2025 Grey Cup odds have already been released for next season.
The 112th Grey Cup is set to take place on November 16, 2025, at Princess Auto Stadium in Winnipeg, Manitoba.
Despite being listed at +340 for Grey Cup 111 with star quarterback Chad Kelly sidelined, Toronto's defense stood tall, forcing four interceptions and limiting the Blue Bombers to just seven first downs.
With Kelly expected to be 100% come next July, look out for the Argos to continue to do serious damage under head coach Ryan Dinwiddie.
Montreal Alouettes (+340)
Jason Maas' club spearheaded the Grey Cup odds for the majority of 2024, led by a defense that allowed a league-best 6.23 yards per play.
After falling short at home to Toronto in the Eastern Final, the 2023 Grey Cup champs will look to re-take the throne in 2025.
Winnipeg Blue Bombers (+600)
Having lost three consecutive Grey Cups as the favorites, Mike O'Shea's squad finds themselves in a similar predicament as the San Francisco 49ers.
Although much of the Blue Bombers core is expected back next season, will playoff fatigue finally catch up to Winnipeg?
Grey Cup trends
• Edmonton has won the most Grey Cup titles (11) during the league’s post-merger era.
• The CFL’s Most Outstanding Player has been a member of the Grey Cup-winning team just four times since 2010.
• There have been just 10 instances of a Grey Cup-winning team repeating as champions the following season.
Past Grey Cup winners
As noted above, having such a small league and lots of player movement promotes a lot of parity among the teams. Seven of the nine current CFL clubs have won a Grey Cup over the last 10 seasons.
The Toronto Argonauts have the most Grey Cup titles in league history with 17, while the Winnipeg Blue Bombers lead the CFL with 27 Grey Cup appearances.
Season
Grey Cup Champion
Runner-up
2024
Toronto Argonauts
Winnipeg Blue Bombers
2023
Montreal Alouettes
Winnipeg Blue Bombers
2022
Toronto Argonauts
Winnipeg Blue Bombers
2021
Winnipeg Blue Bombers
Hamilton Tiger-Cats
2020
No season: COVID-19 related.
N/A
2019
Winnipeg Blue Bombers
Hamilton Tiger-Cats
2018
Calgary Stampeders
Ottawa Redblacks
2017
Toronto Argonauts
Calgary Stampeders
2016
Ottawa Redblacks
Calgary Stampeders
2015
Edmonton Eskimos
Ottawa Redblacks
2014
Calgary Stampeders
Hamilton Tiger-Cats
2013
Saskatchewan Roughriders
Hamilton Tiger-Cats
Understanding CFL futures
Sportsbooks release CFL futures odds shortly after the end of the previous football season. Picking the outright winner of the Grey Cup is one of the only other ways to wager on CFL futures. During the offseason and preseason, you'll be able to get a nice plus-money price on basically any team in the CFL as there is so much uncertainty around what will happen next year, particularly in a league with only nine teams.
CFL futures odds will usually look like this:
Hamilton Tiger-Cats +285
This means that on a $100 bet, you'll stand to profit $285 should Jeremiah Masoli & Co. capture their first Grey Cup title since 1999. If it's close to the end of the season or one team is simply that dominant, you might see a minus sign (-) ahead of their odds.
Saskatchewan Roughriders -175
This means that you would need to bet $175 to win $100 if Saskatchewan wins the Grey Cup.
Of course, futures odds are a fluid market. They can change every day based on news, injuries, suspensions, etc. And they will certainly change based around big CFL events, such as free agency or the draft.
All the odds seen above are in American format. If you find decimal format or fractional format easier to read, simply convert the odds using our simple odds converter tool.
Grey Cup Title Odds FAQs
The Toronto Argonauts are the Grey Cup favorites at +280.
Trevor joined the Covers content team as a publishing editor in early 2022. Growing up in Vancouver, he studied Broadcast and Online Journalism at the British Columbia Institute of Technology (BCIT), and interned with TSN and Sportsnet Radio while also writing for the Daily Hive.
An avid bettor of the MLB, NFL, and CFL, Trevor advises his fellow sports bettors to leave their hearts at the door and not hesitate to fade their favorite team. It's a strategy he follows regularly as an apathetic Toronto Blue Jays and Indianapolis Colts fan.
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Toronto Argonauts
Montreal Alouettes
Winnipeg Blue Bombers
BC Lions
Saskatchewan Roughriders
Ottawa Redblacks
Hamilton Tiger-Cats
Edmonton Elks
Calgary Stampeders
