CFL training camps are set to open across the country in May, so let’s take a look at how each team’s Grey Cup odds have changed over the course of the offseason.
Toronto Argonauts
The reigning Grey Cup champions lost oodles of talent in free agency but oddsmakers still seem confident in their chances of going back-to-back. Chad Kelly is arguably the league’s best passer and he’s still got plenty of weapons available to him behind a strong offensive line. Janarion Grant is also the CFL’s best returner, while Lirim Hajrullahu is as consistent as any kicker in Canada. The question marks for the Argonauts are all on defence where seven — over half — of the team’s Grey Cup starters left via free agency.
Winnipeg Blue Bombers
The Blue Bombers have been to five straight Grey Cups, so it doesn’t seem far-fetched to imagine them getting back to another one. Brady Oliveira remains arguably the CFL’s best player, while Dalton Schoen will help provide some much-needed firepower to the receiving corps in his return from a torn ACL. James Vaughters should help provide some pass rush help opposite Willie Jefferson, while Jonathan Jones seems like an upgrade at weak-side linebacker.
B.C. LionsÂ
Last year’s salary cap splurge might have cost B.C. their top two picks in the 2025 CFL Draft but oddsmakers still like their chances of making noise in the West Division. The last time Nathan Rourke had a full offseason to prepare for a starting role in the CFL, he had arguably the best 10-game stretch by any quarterback this century. If he manages to find that level again this year, Rourke might just will the Lions to a Grey Cup appearance at Princess Auto Stadium all on his own.
Saskatchewan Roughriders
The Roughriders may have topped 3DownNation’s most recent power rankings, but oddsmakers seem less convinced of their potential. Jake Maier is an upgrade behind Trevor Harris, while a freshly shredded A.J. Ouellette appears primed for a bounce-back year. Shane Ray and Mike Rose could help take an already talented defensive line to new heights, while Tevaughn Campbell looks to be a ratio-breaker at boundary cornerback following his return from the NFL.
Ottawa Redblacks
Dru Brown threw for almost 4,000 yards last season and now has Eugene Lewis at his disposal, who many in CFL circles — but not all, apparently — consider a superstar. Ottawa’s run game should be improved following the additions of William Stanback and Peter Godber, while a healthy Adarius Pickett and a revamped secondary should lift the Redblacks defence under new coordinator William Fields.
Hamilton Tiger-Cats
The addition of Kenny Lawler has given the Tiger-Cats arguably the CFL’s best receiving corps, which means Bo Levi Mitchell might top last year’s 5,500 yards and 32 touchdowns. Three-time Grey Cup champion DaShaun Amos should help secure a secondary that was suspect at times last season, while a deep defensive line class in the 2025 CFL Draft could help provide some pass rush help up front. Hamilton is currently set to pick twice in the first nine selections.
Edmonton Elks
The Elks spent more money than any other team in free agency, though that doesn’t appear to have impressed oddsmakers. Tre Ford will enter training camp as Edmonton’s starting quarterback for the first time in his career, though Cody Fajardo was brought over from Montreal to provide depth behind him. The team’s receiving corps is unproven but its all-new defensive line — most of which was imported from Toronto in free agency — is arguably the best in the league.
Calgary Stampeders
Vernon Adams Jr. is the new face of the franchise in Cowtown but oddsmakers don’t seem terribly impressed with the work that’s been done around him. Dominique Rhymes and Tevin Jones were brought in to upgrade the receiving corps, while Miles Brown and Folarin Orimolade were acquired to boost the defensive line. The team has questions in the linebacking corps but Adrian Greene and Damon Webb should help secure a secondary that was exposed at times in 2024.
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