2025-26 CFP Futures Odds: Indiana Takes Over as Favorite, Oregon No. 2
College Football Playoff championship odds for 2025-26 are getting into high gear, with the remaining field of four heading to the semifinals.
With Ohio State losing to Miami in the CFP semis, Indiana takes over as the favorite for the first time this season. Oregon and Miami are the co-No. 2, followed by Ole Miss.
Below are current CFP odds from an array of operators. Also, check out our College Football Playoff Semifinal Odds report. And to get the most out of your college football bets, use our Fanatics Sportsbook promo.
(Feature image: Troy Wayrynen/Imagn Images)
National Championship Winner Odds
2025-26 College Football Playoff Odds
Change at the Top
LATEST UPDATE: Indiana (14-0) boatraced Alabama 38-3 in the CFP quarterfinals, far outclassing the Crimson Tide in the Rose Bowl.
Prior to the quarterfinals, the Hoosiers were the +275 second choice in BetMGM's College Football Playoff championship odds. Afterward, thanks to Ohio State (12-2) tumbling to Miami, Indiana is now the +130 favorite.
That's the shortest price of any team all season long. Previously, the Buckeyes had the shortest price, at +160 before losing the Big Ten title game to Indiana. But Ohio State won't be repeating as champion, after falling to Miami 24-14 in the quarterfinals.
That launched the Hurricanes (12-2) to the +300 co-second choice in BetMGM's 2025-26 College Football Playoff odds. A month ago, when it was believed Miami wouldn't be selected to the 12-team field, you could've gotten the 'Canes at +25000 (250/1).
Oregon (13-1) was +800 a week ago, then joined Miami at +300 in CFP futures odds by blanking Texas Tech 23-0 in the quarterfinals.
And Ole Miss (13-1) is now the +600 fourth and final choice, moving all the way in from +2500 pre-CFP quarterfinals. That's because the Rebels mirrored Miami with a huge upset, knocking off Georgia (12-2) 39-34 in a thrilling finale to the quarterfinals.
"Futures-wise, we're looking to see an Indiana-Ole Miss national title game. Miami and Oregon are liabilities for the book, at the moment," BetMGM trading manager Seamus Magee said.
Which is interesting, considering Indiana was +10000 (100/1) when CFP odds opened in January. But the Hoosiers didn't draw any sizable plays, or even an accumulation of smaller bets, while they were longer shots.
Plus:
"The big bets we took [early] on Clemson, Penn State and Texas have made some of the longer shots at the start of the year a lot more palatable for the futures book," BetMGM trading manager Seamus Magee said.
More on those big bets in a minute.
Bettors are slowly buying in on Indiana, though at much-less-advantageous odds. At BetMGM, from pre-conference championship to post-conference championship, Indiana moved from seventh to fourth in ticket count and 10th to eighth in money.
The Hoosiers remain fourth in bets and leapt from eighth to third in money after the CFP first-round games.
The top five in tickets in BetMGM's College Football Playoff futures odds:
- Ohio State
- Georgia
- Texas Tech
- Indiana
- Alabama
The top five in money:
- Ohio State
- Georgia
- Indiana
- Oregon
- Texas Tech
So of the top five in ticket count, only Indiana remains alive. And of the top five in money, Indiana and Oregon remain, though those two teams play each other in the semifinals. In the other semi, it's Miami vs. Ole Miss.
Circling back to those three big bets Magee alluded to: A BetMGM customer is out of luck on all three. Back in late June, the bettor made the following major wagers:
- $300,000 Texas +500
- $200,000 Penn State +750
- $115,000 Clemson +1300
Opening National Championship Odds
Listed below are January's opening college football odds to win the 2025-26 National Championship
- Ohio State +450
- Texas +550
- Georgia +600
- Oregon +700
- Penn State +850
- Notre Dame +1200
- Alabama +1200
- Clemson +2000
- LSU +2000
- Tennessee +2000
- Texas A&M +3000
Odds Provided by BetMGM and subject to change.
Use our BetMGM bonus code today to pick which team you think will win the College Football Playoff!
College Football Playoff Format
Last season, the College Football Playoff went from four teams to 12 teams, and it will again be 12 teams for the 2025-26 season.
The field of 12 is comprised of six conference champions, plus the six highest-ranked other teams. The rankings will again be determined by the College Football Playoff committee.
College Football Playoff Schedule
Here is the bowl schedule for the 2025-26 College Football Playoff.
First round (Dec. 19-20) — On campus
- Friday, Dec. 19: One game
- Saturday, Dec. 20: Three games
Quarterfinals (Dec. 31-Jan. 1)
- Wednesday, Dec. 31: Cotton Bowl
- Thursday, Jan. 1: Orange Bowl (early afternoon)
- Thursday, Jan. 1: Rose Bowl (late afternoon)
- Thursday, Jan. 1: Sugar Bowl (primetime)
Semifinals (Jan. 8-9)
- Thursday, Jan. 8: Fiesta Bowl
- Friday, Jan. 9: Peach Bowl
CFP National Championship
- Monday, Jan. 19, Hard Rock Stadium, Miami Gardens, Fla.
How To Read College Football Playoff Futures Odds
Over 133 schools are looking for a chance to earn a trip to the 2025-26 College Football Playoff.
Let's look at an example. Ohio State is the +500 co-favorite to win the national championship. That means a $100 wager would yield a $500 profit if the Buckeyes win the title.
How To Bet On College Football Futures
American football is the most popular game among bettors in the United States, and a large portion of that interest is from college football. Analyzing futures odds and predicting which school will become the champion every season continues to receive attention at the betting counter.
Check out our list of the best sportsbooks and sportsbook promos to find the best and most secure places to make college football bets, as well as exclusive sportsbook offers. You can also use our Caesars sportsbook promo code to unlock potential bonus bets.
College Football Futures can be bet on throughout the year. As with any betting market, there are wagering peaks and valleys. After each season ends in January, oddsmakers send out their opening futures for the following season.
The main market is for the NCAA Division 1 Football Bowl Subdivision. There are more than 125 teams divided into 10 conferences, and a group of independent schools, including Notre Dame.
Some sportsbooks set college football futures on every school eligible to win the championship. But other operators keep the list at 50 teams or even fewer, since some lower-tier schools don’t have a competitive chance. The Future Odds market doesn’t receive as much attention in the spring, but interest tends to pick up in the summer and in the first couple weeks of the regular season.
Interest tends to heighten again as conference championship weekend draws near. And betting on College Football Playoff futures odds really picks up after the 12-team field is set.
Elevate your betting strategy for the College Football Championship using the benefits of the bet365 bonus code.
NCAAF Popular Futures Odds
- Heisman Trophy
- College Football Playoff
- Win Totals
- SEC Championship
- Big Ten Championship
- Big 12 Championship
- American Championship
- MWC Championship
- Sun Belt Championship
- CUSA Championship
- MAC Championship
Most Popular Betting Odds
