Gleyber Torres New York Yankees
Gleyber Torres #25 of the New York Yankees reacts after he struck out swinging in the eighth inning against the Detroit Tigers at Yankee Stadium on April 03, 2019 in the Bronx borough of New York City. Elsa/Getty Images

It would be an understatement to say the first week of the 2019 MLB season hasn't gone as planned for the New York Yankees. Not only did the team lose four of their first six games at Yankee Stadium, but it happened against the Baltimore Orioles and Detroit Tigers, who might be the two worst teams in the American League.

Is it time to reach for the panic button? The oddsmakers definitively say, "no."

The Yankees were pegged as the World Series favorites on Opening Day, and that hasn't changed, despite the early-season struggles. New York is still ahead of the other 29 MLB teams at Bovada (+600), 5Dimes (+485), FanDuel Sportsbook in New Jersey (+600) and a host of other sportsbooks.

Many of the Yankees’ issues can be traced to injuries. They had nine players on the injured list before their most recent loss, which saw starting shortstop Troy Tulowitzki suffer a calf strain that will likely keep him out for a few weeks. Only third baseman Miguel Andujar is dealing with a potentially season-ending injury, and the rest of the teams’ key players should be back at some point within the next couple of weeks.

Giancarlo Stanton, Luis Severino and Dellin Betances are All-Star level players that are trying to get healthy. Even Aaron Hicks is among the best center fielders in the AL, and he might miss at least the first month of the season.

Of course, the Yankees could find themselves in some trouble if this slow start continues. The AL East might be even more competitive at the top than expected with the Tampa Bay Rays looking like a playoff team after last year's 90-win season.

It isn't just the Yankees that are struggling amid lofty expectations. They are actually ahead of the defending champion Boston Red Sox in the standings.

Boston's 2-5 record has them sitting in last place in the division. The Red Sox's rotation has gotten off to a historically bad start, and they aren't dealing with a bunch of injuries like the Yankees.

The Houston Astros are in a similar situation. The team that won the 2017 World Series and has totaled 204 wins in the last two years has the same record as the Red Sox.

According to the World Series odds, the Yankees, Red Sox and Astros are still in a class of their own. The Cleveland Indians remain in the next tier, following their 2-3 start.

Maybe one of those teams will never get things going this season, but it's way, way too early to decide that clubs with championship expectations were overvalued to start the year.