College Football Playoff Odds Report, Trends: Everything You Need To Know
College Football Playoff odds for 2023-24 have been on the board for months, ever since Georgia wiped out TCU in last season's title game. And with two months of the season in the rearview mirror, there's been quite a bit of movement in the CFP odds market.
Fresh off the first release of the College Football Playoff rankings, there's the inevitable comparing of odds vs. rankings. Michigan is atop odds to win the College Football Playoff, while Ohio State leads those first rankings.
Here’s everything you need to know about the 2023-24 College Football Playoff odds market: action, movement and betting trends. Check back regularly for updates, and make sure to use our FanDuel Sportsbook promo code available to new registrants for $200 in bonus bets when you're ready to bet on the action!
College Football Playoff Odds
Rankings vs Odds
In mid-October, Michigan took over as the favorite in Caesars Sports' CFP futures odds. The Wolverines knocked two-time defending champion Georgia from the top spot.
Michigan (8-0 SU), which lost to TCU in last year's CFP semifinals, is tidy +230 chalk to win it all. Georgia (8-0 SU) is close behind as the +270 second choice.
"Michigan is the best team in the land, especially in the trenches," Caesars lead college football trader Joey Feazel said. "The concern is that the Wolverines haven't played anybody good. But they've smashed everybody."
Florida State (8-0 SU) is the +500 third choice at Caesars, followed by Ohio State (8-0 SU) at +700. So while the Buckeyes top the initial CFP rankings, they sit three slots lower on the College Football Playoff odds board.
"Ohio State has won two really good games vs. two very good teams, but both games could've gone either way," Feazel said, alluding to victories at Notre Dame and against visiting Penn State. "Ohio State, in our mind, is not the No. 1 team, based on what we see and the strength of the Michigan offense vs. the Ohio State offense."
The big hurdle for the Buckeyes is the Nov. 25 game at Michigan.
"If Ohio State doesn't get to the Big 10 championship, I don't think they're going to get into the playoff," Feazel said. "It's not like last year. The Buckeyes need to beat Michigan."
To remind: Ohio State got drilled by Michigan 45-23 at home last year and missed the Big Ten title game. But everything else broke just right for the Buckeyes, who still got into the four-team CFP, losing to Georgia in the semis.
Flipping Favorites
Feazel said there were a couple of reasons to leapfrog Michigan over Georgia in Caesars' College Football Playoff odds market.
"At this point, we think Michigan is the better team overall," he said. "Georgia can certainly make the case, though. Even after losing Brock Bowers, the offense is putting up points."
Bowers, a standout tight end, suffered a high ankle sprain in the Bulldogs' 37-20 Week 7 win over Vanderbilt. It remains unclear whether he'll return this season.
With or without Bowers, Feazel reiterated that Georgia has the better path to reaching the playoff. But again, Caesars' odds team is leaning ever so slightly toward Michigan at No. 1.
"It's close, but we have Michigan 1 point better in our power rankings," Feazel said.
Trending Teams
Feazel pointed to two teams trending in Caesars' College Football Playoff championship odds market: Oregon, with one loss, and Ohio State, perhaps getting a boost from that No. 1 CFP ranking.
"Surprisingly, the love has been on Oregon this week," Feazel said on Nov. 1. "Everybody kind of sees it. The Ducks had a dominant performance vs. Utah. And in the Washington-Oregon game, people didn't come out of that thinking Washington was far better than Oregon."
The Ducks (7-1 SU) nearly matched host Washington point-for-point in Week 7, in arguably the best game of the season. Oregon lost 36-33 when a final-seconds field goal was no good. In Week 9, the Ducks posted an impressive 35-6 road rout of Utah.
"The bettors see that, as well," Feazel said. "Oregon's path to the Pac-12 championship is clear. The Ducks are the favorite to win the Pac-12 and more favored than Washington for the College Football Playoff."
Indeed, Oregon is the +1200 fifth choice at Caesars, with unbeaten Washington (8-0 SU) and Texas (7-1 SU) following at +1400.
As for the Buckeyes:
"There's a little bit more Ohio State action, with the Buckeyes getting the CFP rankings' No. 1 spot. But it comes down to that final game of the regular season, at Michigan," Feazel said.
Flying Under the Radar
Two teams meeting in a Week 10 SEC clash are Feazel's current under-the-radar picks: LSU and Alabama.
"Obviously, it's a big game between Alabama and LSU. Whomever wins probably represents the SEC West in the SEC championship game," Feazel said. "If Alabama goes to the SEC title game and wins it, it's in the College Football Playoff.
Interestingly, despite LSU (6-2 SU) having two losses, Feazel thinks the Bayou Bengals have a legitimate path to the CFP. A win over Alabama (7-1 SU) and a win over Georgia in the SEC final – neither of which is out of the question – and a two-loss LSU could very well sway the committee.
"LSU's offense is explosive and fun to watch," Feazel said. "Whether it's LSU or Alabama, they're both gonna give Georgia some hell if that winds up being the SEC title matchup."
So before LSU faces Alabama, the Tigers might be worth a national championship wager at +3000.
National Championship Winner Odds
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