The 2025 Grey Cup is in the books, and the champion of the CFL is the Saskatchewan Roughriders. They took down the Montreal Alouettes 25-17 after picking off three passes from Alouettes signal-caller Davis Alexander.
With the 2025 season concluding, the Grey Cup odds for 2026 are now live.
These football odds are available at the BetMGM online sportsbook.
Below, I’ll look back at each team in 2025 and look ahead to what things could look like in 2026.
2026 Grey Cup Odds
| Team | Opening Odds |
| Montreal Alouettes | +275 |
| Toronto Argonauts | +500 |
| BC Lions | +600 |
| Saskatchewan Roughriders | +600 |
| Calgary Stampeders | +650 |
| Winnipeg Blue Bombers | +750 |
| Hamilton Tiger-Cats | +1000 |
| Ottawa Redblacks | +1400 |
| Edmonton Elks | +2000 |
Prediction: Who Will Win the 2026 CFL Grey Cup?
I predict the Argonauts will win the 2026 Grey Cup.
They were my pick this year, but Chad Kelly never got back into the lineup. With this season behind them and Kelly getting more time to get healthy, they should be back and ready to be a top CFL team next season.
2025 Grey Cup Favourites & Best Bets
Montreal Alouettes Odds to Win 2025 Grey Cup +275
For the second time in three years, the Alouettes fell short of a Grey Cup win. Heading into this game, quarterback Davis Alexander had been playing well, but hamstring issues had sidelined him for significant portions of this season.
Next season, he should be back and fully healthy, but they’ll want to address their free agents as key contributors like wide receivers Tyson Philpot, Alexander Hollins, Cole Spieker, and Charleston Rambo could hit the open market.
Toronto Argonauts Odds to Win 2025 Grey Cup +500
The Argonauts had a rough 5-13 season, dealing with numerous injuries. Now, head coach Ryan Dinwiddie has left for the Redblacks, and the Argonauts are in the market for a new one.
Mike O’Shea was a leading candidate, but he signed an extension with Winnipeg.
Either way, whoever the head coach is, they’ll have a quarterback room of Chad Kelly and possibly former Detroit Lions third-round pick Hendon Hooker, who the Argonauts have added to their negotiation list.
BC Lions Odds to Win 2025 Grey Cup +600
Lions quarterback Nathan Rourke won his second Most Outstanding Player award and will continue to be the leader for this team.
Looking over their free agency list, the player they absolutely need to prioritize is linebacker Josh Woods, who, across 14 games and 10 starts after returning from an ACL injury, recorded 61 solo tackles and a sack.
Saskatchewan Roughriders Odds to Win 2025 Grey Cup +600
The 2025 champs, the Roughriders, head into the offseason with one big question: Will quarterback Trevor Harris be back?
This season, he threw for 4,549 yards, 24 touchdowns, and 11 interceptions. However, he’ll be 40 to start next season, so he may retire, considering the Grey Cup win.
Calgary Stampeders Odds to Win 2025 Grey Cup +650
The Stampeders suffered a brutal 33-30 loss in the Western Semi-Final to the Lions. Now, they head into the offseason with several notable free agents, such as Jacob Roberts, Damien Alford, and Jaylon Hutchings, who are potential candidates to leave for the NFL.
Alford was the Stampeders’ No. 1 overall pick in the 2025 CFL Draft, but he’ll surely get some attention after catching 20 passes for 407 yards and five touchdowns (20.4 yards per catch) this season.
As for the other two, Hutchings had eight sacks, and Roberts recorded 93 solo tackles and four sacks.
Winnipeg Blue Bombers Odds to Win 2025 Grey Cup +750
The Blue Bombers have retained general manager Kyle Waters and O’Shea as their head coach after signing them to extensions.
Some notable possible free agents include running back Brady Oliveira and kicker Sergio Castillo.
While Castillo is an aging kicker, he went 48 of 56 this season. As for Oliveira, he’s been a staple of the offence, rushing for 1,000 yards or more for now four straight seasons.
Hamilton Tiger-Cats Odds to Win 2025 Grey Cup +1000
The Tiger-Cats had a great offence this past season, but their defence allowed the second-most yards per game at 376.
Now, quarterback Bo Levi Mitchell could hit the market, though head coach Scott Milanovich wants him back.
Ottawa Redblacks Odds to Win 2025 Grey Cup +1400
The owners of the worst regular-season record at 4-14 have brought in Dinwiddie as their new head coach and general manager. So far, he’s said he’s “comfortable” with Dru Brown as the starting quarterback, but Dinwiddie has his work cut out for him as the list of potential free agents includes well over 30 players.
Edmonton Elks Odds to Win 2025 Grey Cup +2000
The 2025 Elks allowed the most yards per game (390.4) and averaged the fewest yards per game on offence (318.6).
Across 18 games, quarterback Cody Fajardo, who’s a possible free agent, threw for 3,408 yards, 14 touchdowns, seven interceptions, and ran for 319 yards and seven more scores.
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