The New York Yankees, off to one of their best starts in franchise history, moved ahead of the Los Angeles Dodgers this week and for the first time this season are favorites to win the World Series at sportsbooks around the nation.

The Yankees enter July as the World Series favorites at +400 at Caesars Sportsbook, followed by the Dodgers at +450. It's the first time since July 24, 2020, that the Dodgers have not been World Series favorites during the regular season, according to ESPN Stats & Information.

The Yankees began the season among the contenders at 12-1, but have gone on a torrid stretch the past two months. The Yankees went an MLB-best 22-6 (.786) in June, their best winning percentage in any calendar month since Sept. 1964, and own the best record in baseball at 56-21 (.727). It's the sixth time the Yankees have begun July with a winning percentage of .700 or greater. They won the World Series the previous five times.

"The Yankees becoming the new favorite was a combination of two things ... performance and money," Eric Biggio, lead baseball trader at Caesars Sportsbook, said in a company release. "After every big win, it seems like it's all Yankees futures money on the bet ticker. And how can you blame them? They've definitely got it going."

The Yankees have attracted 45 World Series wagers of at least $1,000 at Caesars Sportsbook, including a $20,000 placed earlier in the season in Nevada at 10-1 odds. The only team to attract more $1,000-plus bets? The New York Mets, who have 46. The Mets are 7-1 to win the World Series, behind only the Yankees, Dodgers and Astros (+550). At Caesars Sportsbook in New York, the Mets and Yankees for 66% of the money that's been wagered on the odds to win the World Series.

"The Yankees being this good definitely increases handle for the futures pool," Biggio added. "I think it's a dream scenario for bookmakers and TV ratings. Both New York teams are in contention, as well as the Dodgers and Astros. I'm sure the execs at MLB have to be licking their chops. Anything that's good for ratings is probably good for bookmakers as well. The Yankees are always going to draw some extra money coming in, so if we had a Yankees vs. Dodgers World Series for instance, the handle would be through the roof."