World Series Odds: Which Teams Have Value after Shohei Ohtani Signing?

The Los Angeles Dodgers are the winner of the Shohei Ohtani lottery, perhaps the biggest free agent decision in Major League Baseball history, and one that could have ramifications in the sport for at least the next decade.

While the Dodgers are now at the top of the odds to win the 2024 World Series, there's a simple truth that outside of the pandemic-shortened 2020 season, the team hasn't won it all since Bobby McFerrin was telling us all to "Don't Worry, Be Happy," and other teams have made moves that benefited their odds in pursuit of the Commissioner's Trophy.

The majority of free agents are still looking for homes and things will change between now and Opening Day, but here are five teams with value at their current World Series odds.

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Baltimore Orioles (+1500)

It won't be easy in the American League East and that's reflected in the Baltimore Orioles odds, but they've added Craig Kimbrel to the bullpen that blew 29 saves last season and is dealing with the Felix Bautista injury.

The young Orioles overperformed in 2023, but they don't necessarily need to repeat as division champions to have a chance to win it all, as the Texas Rangers and Arizona Diamondbacks proved.

Texas Rangers +900

It's always tough to repeat and the Rangers could potentially lose a slew of free agents, including Jordan Montgomery and Aroldis Chapman.

Who they aren't losing are any of the bats that made this lineup feared throughout the league. Those bats decimated the Houston Astros in the American League Championship Series and dominated the Diamondbacks in the World Series.

Texas may have to outscore its opposition, but it has the lineup to do just that.

Houston Astros +850

The 2024 season is likely the last hurrah for the Astros, at least for the foreseeable future, as free agency and age begin to set in without minor league prospects to replace them.

Still, this is a dangerous team as proven by it winning the season series against the Rangers and then taking Texas to Game 7 of the ALCS.

There are questions, of course, with a patchwork pitching staff and aging veterans dotting the lineup, along with an untested manager.

Yet, the core of a team that missed the World Series by a game remains in Jose Altuve, Yordan Alvarez, Kyle Tucker and Alex Bregman, mixed with the young talent of Jeremy Pena and Yainer Diaz.

This team was closer than most realize to being repeat champions and is a bargain at this number.

Philadelphia Phillies +1000

Beating the Miami Marlins and eliminating the Atlanta Braves in the playoffs before inexplicably dropping the final two games of the NL Championship Series to the upstart Diamondbacks at home was a hard way to go out for Philadelphia.

The Kimbrel loss is not ideal, but the Phillies re-signed Aaron Nola, and if the last two seasons proved anything, it's that this a team built for the playoffs, coming within a game of the World Series last season and taking the Astros to six games in the Fall Classic in 2022, both out of the Wild Card spot.

The Braves might rack up regular season wins, but the Phillies are a tough out in the postseason, making them a value at this number.

Atlanta Braves +600

Not willing to rest on their 104-win laurels, the Braves have been wheeling and dealing this offseason after a disappointing postseason in 2023 saw them fall short of the NL Championship Series.

The way the Braves front office is working, this team could look different by opening day and I mean different in a good way. One that will strike fear in opponents, not just from their record-smashing lineup, but also from their pitching staff.

That staff is no slouch with Spencer Strider, Max Fried and Charlie Morton on the front end, but the team is still looking to fill it out the rotation and make it the team to beat.

Given their failure last postseason, they'll be doubted until they prove it, but much like the Rangers, the Braves could bomb their way to the title.

Odds refresh periodically and are subject to change.