2026 Home Run Derby betting preview, odds: Philadelphia Phillies slugger Kyle Schwarber is the betting favorite

The 2026 MLB All-Star Game will take place Tuesday at Citizens Bank Park in Philadelphia, Pennsylvania, but before the best baseball players in the world gather for that game, the world will tune in for an appetizer on Monday night: The 2026 Home Run Derby.

The field is set with eight contestants vying for the crown and Philadelphia Phillies star Kyle Schwarber — who leads all of baseball with 32 home runs this season — is the favorite at +300 at BetMGM sportsbooks, followed by Tampa Bay Rays slugger Junior Caminero (+425) and Chicago White Sox rookie Munetaka Murakami (+475).

Play Derby Pick 'Em: Make your picks for tonight's big event

Kansas City Royals right fielder Jac Caglianone (+650) has the fewest home runs (14) of any Home Run Derby participant, but has the next-best odds to win the event, followed by Jordan Walker (+800), Bryce Harper (+850) and Ben Rice (+850).

Schwarber has the most wagers (24.8%) and total dollars wagered (29.1%) to win the event so far at BetMGM, and he is the sportsbook's biggest liability. Caminero has the second-most total bets (16.6%) and handle (17.2%) to win the event.

Boston Red Sox catcher Wilson Contreras has the longest Derby odds at 15-1, and also the fewest wagers (5.3%) and least money wagered on him to win (2.4%).

Previewing the Derby field, from Kyle Schwarber to Munetaka Murakami to Junior Caminero

The Seattle Mariners' Cal Raleigh was the first catcher ever to win the Home Run Derby in 2025, but is not competing in the event this year.