WWE Royal Rumble 2024 Odds: CM Punk, The Rock, Bayley Among Favorites

WWE Royal Rumble 2024 Odds: CM Punk, The Rock, Bayley Among Favorites article feature image

Chris Ryan/Corbis via Getty Images. Pictured: Dwayne “The Rock” Johnson

WWE Royal Rumble odds are out for the event that takes place on Saturday, January 27th at 8 p.m. ET from Tropicana Field in St. Petersburg, Fla.

While professional wrestling doesn't often conjure up a lot of interest in the legalized gambling world, the Royal Rumble is an exception. A quick reminder on how it works:

  • The Royal Rumble includes 30 participants all vying for a shot to compete for a world championship at WrestleMania.
  • Participants enter the match in timed intervals until 30 have entered the match.
  • Participants are eliminated if they are thrown or fall over the top rope and have both feet touch the floor.
  • The last participant left in the ring after all 30 come out is declared the winner.

There are two Royal Rumbles this year, as there has been since 2018, when the WWE held its first women's Royal Rumble match in addition to the men's match, which has been around since 1988.

Below, you'll find full WWE Royal Rumble odds for both the men's and women's matches.

Below odds via BetMGM and as of Saturday, January 27. You can use our BetMGM bonus code for bonus bets before making your WWE Royal Rumble picks.

Royal Rumble Odds

Implied probability is "fair" implied probability, without the vigorish.

CM Punk, who returned to WWE in November following his firing from rival company AEW, is the current betting favorite to win the men's Royal Rumble at -182 at BetMGM.

The odds mean a $100 wager on Punk to win the Royal Rumble would pay out $54.95 if he emerges victorious.

The winner of the Royal Rumble will have the right to face either of the company's world champions at WrestleMania in April. Currently, Roman Reigns is the Universal Champion, a title he's held since August 2020, while Seth Rollins is World Heavyweight Champion, a title he's held since May 2023.

Punk's odds likely stem from a report by Dave Meltzer of the Wrestling Observer that WWE has targeted Punk vs. Rollins for WrestleMania. So, a likely outcome would be for Punk to win the Royal Rumble and challenge for Rollins' belt instead of Reigns'.

The company has its eyes on an even bigger potential matchup for Reigns, however.

It's no secret that WWE has been teasing a potential return of Dwayne "The Rock" Johnson for several years, with a potential Reigns vs. The Rock matchup at WrestleMania in 2023 falling apart after The Rock said he didn't have time to get in ring shape for the match.

The two have long been portrayed by WWE as cousins (in actuality, they are not blood related, but their grandfathers were close friends and referred to each other as "blood brothers"), and a matchup between the company's longest-ever champion and arguably its most famous and popular alumnus (and an A-list celebrity to boot) would be a ratings darling.

That's why you see The Rock currently listed at +700 odds to win the Royal Rumble, which means a $100 wager would pay out $700 if he emerged victorious.

Cody Rhodes, who won last year's Royal Rumble and faced Reigns at WrestleMania, is reportedly the backup plan should plans with The Rock fall through again. His odds of +300 means a $100 wager would net $300.

It's also worth noting that Reigns is currently scheduled to put his title on the line on the Royal Rumble card in a fatal four-way match against Randy Orton, AJ Styles and LA Knight.

Implied probability is "fair" implied probability, without the vigorish.

The current betting favorite on the women's side is Bayley at -125. That means a $100 wager on Bayley to win the women's Royal Rumble would pay out $80.

The rationale behind Bayley as the favorite is simple: she's one of the most accomplished wrestlers in the organization's history but has yet to win the Royal Rumble.

Bayley leads a stable of wrestlers called Damage CTRL, of which she is the leader alongside members Dakota Kai, Iyo Sky, Kairi Sane and Asuka.

Like on the men's side, there are two WWE women's championships the winner of the Royal Rumble could vie for. Rhea Ripley is the current Women's World Champion, a title she has held since defeating Charlotte Flair at WrestleMania in April 2023. The current WWE Women's Champion is Iyo Sky, which she won by defeating Bianca Belair at SummerSlam in August 2023.

Given the fact that Sky currently holds a title, much of the speculation regarding the women's Royal Rumble and the lead-up to WrestleMania revolves around a potential split of Damage CTRL. A win by the popular Bayley (who works as a heel currently) would allow her to split from the group to challenge Sky for the belt at WrestleMania.

How to Watch the 2024 WWE Royal Rumble

The 2024 WWE Royal Rumble will be live on Peacock in the United States and on WWE Network in the rest of the world. You can also order the WWE Royal Rumble on pay-per-view through your cable or satellite provider.

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