The WWE Royal Rumble 2023 pay-per-view is still nearly four months away, but it's not too early to look at the top favorites to win the two matches.

Royal Rumble 2023 will take place inside the Alamodome in San Antonio, Texas on Jan. 28. This will be the fourth Royal Rumble to take place inside the city, the others being the 1997, 2007 and 2017 events. The 2022 show was held inside The Dome at America's Center in St. Louis, Missouri on Jan. 29.

Per WWE tradition, the winners of the men's and women's Royal Rumble matches will guarantee themselves a championship opportunity at WrestleMania 39. WrestleMania will be held on the Apr. 1-2 weekend inside SoFi Stadium (home of the NFL's Los Angeles Rams and Chargers) in Inglewood, California. The latest betting odds for the winner's of the two Royal Rumble matches are courtesy of BetOnline.

For the men's Royal Rumble match, Cody Rhodes is the giant favorite to win at -115. The American Nightmare has been sidelined since early June as he continues to recover from surgery on a torn pectoral. WWE initially announced that he'd be out of action for nine months.

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The Rock has the second-highest odds behind Rhodes at +575. Undisputed WWE Universal Champion Roman Reigns, Matt Riddle, Seth Rollins and Drew McIntyre share the third-best odds at +1200.

For the women's Royal Rumble match, 2019 match winner Becky Lynch is the favorite at +250. Bayley carries the second-highest odds at +450, followed by Rhea Ripley and 2020 winner Charlotte Flair at +600. Alexa Bliss, Raw Women's Champion and 2021 winner Bianca Belair and Raquel Rodriguez share the next best odds at +1000.

Ronda Rousey & Brock Lesnar Won The 2022 Royal Rumble Matches

After a hiatus that lasted nearly three years, Rousey returned during the 2022 women's Royal Rumble match. She went on to win the bout, though Rousey lost her SmackDown Women's Championship match to Charlotte at WrestleMania. Lesnar won the men's match and opted to challenge Reigns at WrestleMania 39. Those two wound up facing off in a "Winner Takes All" title unification match, which Reigns won to hold both championships.

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