Early Odds Favor Another Hendrick Motorsports Championship

Getty Chase Elliott (right) has the best odds to win the 2023 Cup Series championship.

The initial odds are in for the 2023 NASCAR Cup Series season. They favor Chase Elliott, who will pursue his second career championship at the top level of stock car racing.

The season does not officially begin until the Daytona 500 on February 19, but BetOnline is already examining the potential names and organizations that will contend for the championship. Elliott tops the list with 23-4 odds to win his second career Cup Series championship.

The driver of the No. 9 Hendrick Motorsports Chevrolet Camaro is not the only member of the organization near the top of the list. Teammate Kyle Larson is second overall at 6-1, which puts him just ahead of Joe Gibbs Racing’s Denny Hamlin at 8-1.

The other two Hendrick Motorsports drivers — Alex Bowman and William Byron — sit inside the top half of the field. Byron is in a tie for the fifth-best odds at 12-1 while Bowman is 13th at 28-1.

These Odds Continue a Trend From 2022

GettyChase Elliott races at World Wide Technology Raceway.

The 2022 season featured a fascinating change in the championship odds. Larson started out as the favorite, and for good reason considering that he was fresh off a 10-win season.

Larson remained the favorite throughout the FOX portion of the schedule. However, the situation changed coming out of the off-week. Elliott made a significant move and joined his teammate at the top of the list. They became co-favorites to win the championship.

Elliott joined Larson at the top of the list after securing his first win, but he took sole possession during the NBC portion of the schedule. He won four more races, won the regular-season championship, and punched his ticket to the season finale.

The odds favored Elliott entering the final race of the season, which created some expectations that he would win his second championship in three seasons. However, he hit the wall and broke a toe link during the final stage after contact with Ross Chastain on a restart.

Elliott ended the season fourth in the championship standings for the second consecutive season. Though he still walked away with the most wins in the series (five) and the second-most top-10 finishes (20).

The Defending Champion Also Has Favorable Odds

GettyJoey Logano races at Darlington Raceway.

Hendrick Motorsports holds the top two spots in the initial odds, but where does the defending champion fit? Team Penske’s Joey Logano is also near the top as he sits in a tie with several drivers.

Like Byron, Logano also enters the season facing 12-1 odds to win the championship. They also join Chastain, Christopher Bell, 2017 champion Martin Truex Jr., and two-time champion Kyle Busch.

Busch is an intriguing name to watch based on his major career change. He left Joe Gibbs Racing after contract negotiations fell through, and he moved over to Richard Childress Racing. Busch will now take over the No. 8 Chevrolet while trying to win multiple races and make a return to the championship four.

There is actually another Team Penske driver just ahead of Logano. Ryan Blaney enters the season at 10-1 odds despite going winless in points-paying races in 2022. One reason is that he secured 17 top-10 finishes, 12 top-fives, and three pole awards. He also won the annual All-Star Race.