2025-26 College Football Odds | Championship & Heisman

The first-ever 12-team College Football Playoff ended with an Ohio State win, but after a loss to Miami in the Cotton Bowl, the door is open for a new champion.

As college football bettors prepare for the CFP semi-finals, we'll keep them up to date with updated odds across the premier sports betting apps.

2025-26 CFP Championship - Best Odds

Odds as of January 2, 2025

* = the same odds are offered by multiple sportsbooks.

2025-26 CFP Championship Odds Comparison - Final 4 Contenders

Odds as of January 2, 2025

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Indiana Hoosiers: After reaching the College Football Playoff but making an early exit last season, the Indiana Hoosiers have come out and proven their success was no fluke. Curt Cignetti has his Hoosiers looking like a team that could win it all, led by quarterback Fernando Mendoza. Under the Cal transfer, the Hoosiers entered the playoffs ranked 5th in the country in points per game (39.3) and 3rd in points allowed per game (11.8), per TeamRankings. Aside from their impressive statistical rankings, the Hoosiers also entered the playoffs as Big Ten Champions and the #1 seed. Indiana drew Alabama in the Rose Bowl, and they became the first team in the history of the 12-team playoff to win after having a first-round bye, dominating the Crimson Tide 38-3 to set up a semi-final matchup with Oregon.

Oregon Ducks: Last season, the Oregon Ducks made it to the Rose Bowl with no losses on their resume, but Ohio State quickly changed that, ending the Ducks' hopes of an undefeated season and National Championship. This season, the Ducks have been led by Dante Moore, who threw four touchdowns in the first round against JMU to send the Ducks to the Orange Bowl against Texas Tech. Despite Moore not recording a touchdown pass in that game, the Ducks still dominated as they shut out Texas Tech 23-0. Oregon's sixth-ranked defense in terms of points per game will need to continue its elite-level play if it wants to beat Indiana in the semi-finals.

Miami Hurricanes: It was a heated debate over whether Miami would even make the College Football Playoff, but the Canes have proven the committee made the right decision. In the first round, Miami went on the road and edged out Texas A&M in a defensive battle. That win set the Canes up with Ohio State in the Cotton Bowl, and once again, their defense, led by Reuben Bain Jr., dominated, holding the Buckeyes to 14 points in a 24-14 win. With an experienced quarterback under center in Carson Beck and a defense that hasn't allowed 20 or more points in six straight games, the Canes are one win away from the National Championship, and the team standing in the way of that is Ole Miss.

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Past CFP National Champions & Odds

College Football Betting - Historical Odds vs. Actual Winners

Historical odds for the national championship show a fascinating pattern: while college football often feels dominated by a small group of perennial powerhouses, the futures market has consistently underestimated teams that undergo rapid transformation. Preseason favorites like Alabama, Georgia, and Clemson have certainly justified their short prices across the past decade, but many of the most profitable national title runs came from squads sitting in the mid-range or long-shot territory before kickoff.

The clearest example is 2019 LSU, which opened at roughly +2500 before delivering one of the most explosive offensive seasons in history under Joe Burrow. Even more dramatic was TCU’s stunning 2022 surge from +15000 to the national title game — a run that exposed how blind the market can be to coaching changes, scheme shifts, and returning-experience metrics.

On the opposite end, we’ve seen highly publicized “superteams” fall flat. Programs like USC (2023) and Oklahoma (2020) opened among the top five favorites only to collapse under defensive shortcomings, injury issues, or flawed preseason narratives. Historical results make one thing clear: while favorites win their share, the national championship futures market regularly rewards bettors willing to dig deeper than brand reputation, preseason polls, and recruiting rankings.

What Past Conference Champions Reveal About Odds Accuracy

Conference futures historically lean more chalky than national title betting, but long-shot hits still shape the landscape every few seasons. The SEC and Big Ten frequently produce winners from the top two or three preseason favorites thanks to concentrated recruiting power, yet other conferences have seen surprising champions. Baylor’s 2021 Big 12 title run at preseason odds ranging from +4000 to +5000 remains one of the biggest modern conference upsets.

Washington’s 2023 Pac-12 triumph, opening around +1000, demonstrated how returning quarterback talent and coordinator continuity can outperform early market expectations. Even in the ACC, Clemson’s down years opened the door for Florida State and Pitt, both of which cashed tickets at longer preseason odds. Across conferences, bettors gain an edge by identifying undervalued defensive units, new offensive play-callers, and teams benefiting from schedule-friendly division structures — three factors consistently linked to surprise champions.