Two-time winner Pete Alonso is the early favorite to win another Home Run Derby, but he’s only the third-most popular pick among bettors so far.

BetMGM reported Thursday that Gunnar Henderson of the Baltimore Orioles has garnered both the highest share of the tickets (25.5 percent) and the highest share of the handle (34.6 percent) to win the derby.

The infielder is a first-time All-Star thanks in large part to his powerful bat. Henderson is hitting .292 through 91 games and has 27 home runs, already one shy of his total from last year.

Henderson opened at +575 to win the derby at BetMGM, making him the No. 4 favorite behind New York Mets star Alonso (+310), Atlanta Braves slugger Marcell Ozuna (+375) and Texas Rangers star Adolis Garcia (+400).

Kansas City Royals shortstop Bobby Witt Jr. is another popular pick, holding the second-highest share of the total bets (19.6 percent) with +625 odds.

The longest of longshots is also the book’s biggest liability. Philadelphia Phillies third baseman Alec Bohm, also a first-time All-Star, has just 11 home runs this season and 55 in his five-year MLB career. But bets on Bohm account for the second-highest share of the handle (24.5 percent).

Alonso, who won the derby in 2019 and 2021, has accounted for 15.7 percent of the total tickets and 18.3 percent of the handle.

The format for the derby has been updated this year, with MLB doing away with the eight-player bracket. Instead, all participants will take turns hitting in the first round; they will see a maximum of 40 pitches over three minutes, plus “bonus outs” at the end they can earn.

The contestants with the four best totals will advance to a seeded four-man bracket. The No. 1 seed will face the No. 4 in the semifinals and No. 2 will oppose No. 3.

The Home Run Derby is July 15 in Arlington, Texas, one day before the All-Star Game.

–Field Level Media