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Pittsburgh Pirates pitcher Paul Skenes throws during the fourth inning of a baseball game against the Milwaukee Brewers, Thursday, July 11, 2024, in Milwaukee. (AP Photo/Kayla Wolf)

Paul Skenes continued to make history on Thursday during his latest start. The odds-on favorite to win the National Rookie of the Year award tossed seven innings of no-hit baseball, punching out 11 in the process. It's the second time this season he's been pulled in the middle of a potential no-hitter.

While many knew the talent that the former LSU standout possessed, few believed he'd find immediate success in his professional career. However, after already being named an MLB All-Star, there is little doubt he's one of the best that the game has to offer. What are Skenes' chances of taking home some individual silverware during his rookie campaign?

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Paul Skenes odds to win Cy Young, Rookie of the Year awards

Skenes has enjoyed a sensational first half of the season. He's posted a 6-0 record with a 1.90 ERA, 0.92 WHIP and 89 strikeouts in just 66.1 innings of work. This has him in the conversation for some of the most prestigious awards in the game — he's even gaining traction to be the National League starter for the upcoming 2024 MLB All-Star Game.

The Pittsburgh Pirates ace has built a sizable gap between himself and the second-favorite player to win the NL Rookie of the Year award, San Diego's Jackson Merrill.

Skenes' odds are heavily juiced now at -550, meaning interested bettors would have to wager $550 to earn $100 if he takes home the award. Merrill (+340) is the only other player with shorter than 15/1 odds. Shota Imanaga — who was the favorite to win in the days leading up to Skenes' debut — is now +1700 and sits third on oddsboards.

All of this is to say that barring a disastrous second half to his rookie season, the Fullerton, California native will take home an individual trophy during his debut campaign. Although a Cy Young run is a tall task, Skenes has wasted no time inserting himself into the conversation, and an All-Star appearance certainly won't hurt his case.

The 22-year-old has the third-best odds to win the 2024 NL Cy Young behind co-favorites Chris Sale and Zack Wheeler (+135). Skenes has 12/1 odds, which means he's on the outside looking in at the season's unofficial halfway point. Luckily, there is a lot of time for him to make up ground after opening up at 200/1 before his major league debut.

If Skenes were to win the Cy Young award this season, he'd become only the second rookie to ever do so after Los Angeles Dodgers left-hander Fernando Valenzuela did so in 1981. Valenzuela also won Rookie of the Year that season, edging out Tim Raines of the Montreal Expos.

Suffice it to say history could be on the horizon for the young superstar.

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