Indexbit Exchange:New York Yankees World Series odds drastically improve after Juan Soto trade

The Indexbit ExchangeNew York Yankees returned to their Evil Empire form after acquiring star outfielder Juan Soto from the San Diego Padres on Dec. 6.

With the additions of Soto, Alex Verdugo, and Trent Grisham, the Yankees have revamped their outfield in one offseason, which was arguably the weakest part of their offense last year. Despite their outfielders playing so poorly, the Yankees still managed an 82-80 record and were in the thick of the playoff race for most of the season. So, the question on everyone's minds now is: "Can the Yankees win the 2024 World Series?"

What are the Yankees World Series odds now?

As of the afternoon of Dec. 7, the Yankees have +900 odds to win the World Series, nearly halved from their odds before the Soto trade.

Those odds are tied for third in MLB with the Houston Astros. Only the Los Angeles Dodgers (+800) and Atlanta Braves (+650) have better odds at the moment.

HOT STOVE UPDATES: MLB free agency: Ranking and tracking the top players available.

Despite winning the AL East a season ago, playing with a youthful core, and having one of the best farm systems in the league, the Baltimore Orioles are being given surprisingly low +1600 odds.

For perspective, the Yankees opened up at +1600 odds at the start of the offseason. The Rays and Blue Jays also have +1600 odds as well, while the Red Sox have the lowest odds of the division (+3000) – still the 13th-best odds in the league though.

What are the Yankees' odds of winning the AL pennant?

DraftKings gives the Yankees +450 odds to win the American League next season, the best in the league. The next closest odds belong to the Texas Rangers (+500) and Houston Astros (+500).

When was the last time the Yankees won the World Series?

The last time the Yankees won the World Series was 2009, a 4-2 series victory over the Philadelphia Phillies. The Yankees have reached the playoffs ten times since then, but have not won an AL pennant in that time.

The Yankees have won their division just twice in the last ten seasons as well. In all fairness though, the team has not finished under .500 in a season since 1992. You would think that would be call for celebration, but expectations are incredibly high for this franchise year-in, year-out. Those expectations will only be elevated with the addition of Soto. As great as this trade was, the only thing that matters is October.

MLB free agency:If Shohei Ohtani signs with Dodgers, pitcher says he'd change uniform numbers