Updated MLB free-agent odds: Who might be coming to the Cubs?

After baseball’s General Managers meetings last week, the Hot Stove league will be heating up soon.

The Cubs’ two big-name free agents — Jake Arrieta and Wade Davis — have both opted out of $17 million qualifying offers from the Cubs and will test the market.

Oddsmakers at MyTopSportsbooks.com have set updated odds on each free agent’s landing spot following the meetings.

For pitcher Jake Arrieta, the Twins and Rangers appear to be co-leaders at 3-to-2 odds, followed the Cardinals at 12-to-1 and everyone else in the field at 7-to-1.

Relief pitcher Wade Davis will be looking for a long-term deal this offseason. The Astros have been made the favorite for Davis’ services at 3-to-2 odds. The Diamondbacks are close behind at 2-to-1 and MyTopSportsbooks.com put 6-to-1 odds that he will return to the Cubs. The field is 7-to-1.

As for which free agent might come join the Cubs, the far-and-away favorite is Rays pitcher Alex Cobb.

The Sun-Times’ Gordon Wittenmyer called him “the top free-agent fit for the Cubs.” He would rejoin Joe Maddon, his first-MLB manager and Jim Hickey, the only pitching coach he’s had in the majors.

Oddsmakers give the Cubs even odds to land Cobb, followed by the Twins (3-to-1), Blue Jays (9-to-1) and the field (6-to-1).

The Cubs are the second favorite to acquire Cardinals’ starting pitcher Lance Lynn, according to MyTopSportsbooks.com, at 7-to-2. The Rangers, whose top priority is pitching this offseason, is the favorite for Lynn at 2-to-1. The Angels are 5-to-1 and the field is 18-to-7.

Highly touted pitcher-outfielder Shohei Otani prepares to enter the market from Japan. Under the posting system for international players, the Rangers can pay most for Otani, followed by Yankees and Twins. However, the oddsmakers have set the Mariners at 2-to-1 favorites, the Dodgers at 7-to-2 and the Cubs at 5-to-1 and the field at 5-to-2.

Follow me on Twitter @juandeplata.