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 just three weeks into this season, there's already been quite a bit of movement with several teams in the CFP odds market.
That said, Georgia – aiming for a third straight national title – remains the favorite in odds to win the College Football Playoff.
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.
College Football Playoff Odds
Getting Buffaloed
Coach Prime and Colorado seemed like a novelty before the regular season kicked off. Sure, plenty of public/recreational bettors were taking fliers on the Buffs. But oddsmakers were unfazed by the massive mounting liability, continuing to keep Colorado at long-shot odds.
The Buffaloes could be had for as much as 300/1 at Caesars Sports', and rightly so. Colorado was coming off a dismal 1-11 season and arguably was one of the worst teams in college football.
Then the Buffaloes started 3-0 under Deion Sanders. Caesars moved into +6000 on Colorado. Yes, that was still a healthy price, but it was No. 14 on the College Football Playoff championship odds board.
"It's been really a crazy past couple of weeks. A lot of Colorado action," Caesars lead college football trader Joey Feazel said prior to Week 4. "Shout-out to the bettors for believing in this team. They believed Coach Prime would come out swinging, and he has."
However, the Buffaloes didn't survive Week 4. Colorado got boat-raced at Oregon 42-6. And with that loss, the Buffs' CFP odds plummeted to 200/1 at Caesars and even longer elsewhere. Basically, oddsmakers are saying Colorado's CFP chances are dead.
Coach Prime and Co. are still Caesars' loss leader in the national championship market – "By far, Colorado is still our biggest liability" – but that liability is now much less a concern.
"It's really hard to make the College Football Playoff, especially in a four-team format," Feazel said. "It was a little bit concerning when the Buffaloes were performing well and taking the nation by storm. Now, it's a little bit less concerning."
Trending Teams
Obviously, no team is trending as much as Colorado. Still, there are 13 outfits ahead of the Buffs on Caesars' College Football Playoff odds board.
Feazel pointed to a couple teams of note.
"Obviously, Florida State had a very impressive meeting against LSU. The Seminoles looked to be a dominant force," Feazel said, alluding to FSU's 45-24 Week 1 wipeout of the Tigers. "And Texas going into Alabama and putting on a show was impressive."
In Week 2, the Longhorns were 7-point road underdogs and dumped the Crimson Tide 34-24.
Florida State opened +2000 at Caesars and has cut those odds to +850. That makes the 'Noles the co-third choice along with Texas, which opened +2200.
"Those are the two teams that have crawled up the rankings and showed they are national championship contenders," Feazel said.
Indeed, Texas is now ranked No. 3 and Florida State No. 5, up from No. 11 and No. 8, respectively, in the preseason. The Seminoles actually got to No. 4, but dipped one spot despite beating Clemson on the road in Week 4.
Michigan continues to see heavy action, as well. The second-ranked Wolverines are also No. 2 on Caesars' odds to win the College Football Playoff, at +425.
"We took a very large bet on the Wolverines. They should be a force to be reckoned with," Feazel said.
That bet was $50,000 on Michigan +850 before Week 2. Should the Wolverines go all the way, that bettor would profit $425,000.
Ticket Takers and Money Makers
Even at its short price, +230 favorite Georgia continues to get tickets at Caesars Sports. The Bulldogs didn't look great in Week 3 against visiting South Carolina, shockingly trailing 14-3 at halftime.
But Georgia rebounded for a 24-14 win. And Feazel doesn't see much standing in the Bulldogs' way over the next several weeks.
"Georgia won't have any pushback until Tennessee," he said, alluding to a Nov. 18 matchup in the penultimate regular-season game. "But Tennessee might not be as dominant. So this might be a pretty simple schedule for Georgia to get to the College Football Playoff."
Indeed, the Vols (3-1) already have a loss on their ledger. Tennessee was a 5.5-point Week 3 favorite at Florida and lost outright 29-16.
Feazel said bettors are rooting for USC, currently the +1400 co-sixth choice with fellow Pac-12 outfit Washington. And in Caesars' bustling Louisiana market, LSU took a ton of preseason money.
"They were all over LSU," Feazel said. "The Tigers lost that first game to Florida State, but I wouldn't count them out just yet."
Louisiana State (3-1) was +1000 preseason at Caesars and slipped back to +3000. But the Tigers, now +1800, can still get to the SEC championship game. A win there would virtually assure a CFP semifinal berth.
So who is Caesars rooting for at this point?
"We'd certainly like Georgia and Texas. Those are good results," Feazel said. "And Ohio State would be a good result for us at this point, as well."
The Buckeyes are the +900 fifth choice.
National Championship Winner Odds
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