College Football Playoff Betting Trends and Futures Odds Report

College Football Playoff betting trends have taken shape for months, ever since Georgia wiped out TCU in last season's title game. There's already been quite a bit of movement with several teams in the CFP odds market.

One thing unchanged: Georgia remains the favorite in odds to win the College Football Playoff. In fact, the Bulldogs’ price is getting even shorter to win a third straight national title.

Caesars Sports' Joey Feazel provides his insights on 2023-24 College Football Playoff betting odds, trends and action. Check back regularly for updates.

CFB National Championship Odds

Run With the Dawgs

After Georgia put a 65-7 beatdown on TCU in the Jan. 9 title game, Caesars Sports installed the Bulldogs as +375 favorites in the 2023-24 College Football Playoff odds market. And it didn't take long to get some action.

Five bets of at least $1,000 landed on Georgia, prompting Caesars to quickly shorten the price to +325. Now, with summer bearing down and less than 100 days until the season starts, the Bulldogs are at even tighter odds.

"We've had some movement on them," said Feazel, lead college football trader at Caesars. "We opened pretty aggressively at +375, and we're now at +220. The Bulldogs are our most-bet team, moneywise, but they're definitely not our biggest liability, because of their short price.

"Georgia is a small liability, very minimal."

The Bulldogs no longer have QB Stetson Bennett, who helped the team win those two consecutive championships. At the moment, Carson Beck appears in line to start. Regardless, the Bulldogs again have no shortage of talent, and bettors recognize it, even with a modest payback on CFP championship odds.

"It's no surprise here that we're taking a lot of Georgia action," Feazel said, noting the schedule is a key factor, too. "It's an easier road to the national championship than most."

Feazel foresees at least an 11-1 regular season, with the Bulldogs' toughest challenge coming in the 11th game, at Tennessee. But even then:

"I have Georgia just short of a touchdown favorite," Feazel said.

Updated on 06/02/2023

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Michigan and More

Following Georgia in Caesars' CFP betting market is, no surprise, Alabama at +550. The Crimson Tide failed to reach even the SEC title game last year. But Nick Saban's squad has three CFP championships in six title-game appearances, so of course the Crimson Tide are again in the College Football Playoff betting trends mix.

The two SEC teams are followed by a pair of Big Ten teams: Michigan at +800 and Ohio State at +850. The Wolverines and Buckeyes both reached the CFP semifinals last season. Michigan lost a wild shootout to TCU, a 51-45 setback, while Ohio State succumbed to a Georgia comeback in a 42-41 loss.

So far, beyond Georgia, bettors are attracted to the No. 3 choice.

"With J.J. McCarthy back for another year as a starter, bettors expect the Wolverines to be back," Feazel said, alluding to the Michigan QB. "Among teams with a realistic chance to win the College Football Playoff, Michigan is our worst-case scenario. We opened Michigan 14/1 and are now at 8/1.

"On the flip side, not a lot of people are buying into the Ohio State brand. Having a new QB is gonna make a difference there."

Indeed, the C.J. Stroud era concluded, with the Houston Texans selecting him No. 2 overall in the NFL Draft.

Flying Under the Radar

Feazel said it's worth scrolling down the College Football Playoff odds board a bit to find his top under-the-radar team at the moment.

"Washington is one that bettors are interested in," he said. "The Huskies return a lot, especially on offense. We opened 60/1 and are now at 35/1. They're interested in the Huskies much more than Oregon in the Pac-12."

That's in part due to Huskies QB Michael Penix Jr. returning for a senior season, after a strong junior year following his transfer from Indiana. Oregon is 30/1, just ahead of Washington on Caesars' CFP betting board.

Florida State also has a returning QB in Jordan Travis, leading to action on the Seminoles.

"They've been betting the Seminoles, as well. Our first big bet [in January] was on Florida State. We opened 22/1 and are now 16/1," Feazel said.

Feazel also thinks Tennessee could be interesting. The Vols were having a huge season last year – potentially CFP worthy – behind QB Hendon Hooker, before he tore his ACL in a late-season upset loss at South Carolina.

Joe Milton, whom Feazel said "has a cannon of an arm," will start this season. The Vols opened 22/1 and have slipped back to 25/1, but could merit a look.

And there are two more teams that piqued Feazel's interest.

"I think Clemson and Texas are interesting," he said. "I think there's some value in Clemson. People are counting them out too early. And almost every year, we fall in love with Texas and Nebraska. If Quinn Ewers stays healthy at quarterback, the Longhorns have got a chance at winning the Big 12 title and being in the playoff picture."

Clemson opened 18/1 and is now 20/1, while Texas has shortened from 20/1 to 16/1.

Prime Time – Or Not?

Back in January, when College Football Playoff betting odds first hit the board, Feazel noted the long-struggling Colorado Buffaloes were getting early action. Deion Sanders taking over as coach can have that effect.

That action has continued over the past four months But Colorado, which has been awful much of the past 16 years, is still a distant 200/1 to win the national championship, after opening 300/1.

"Our worst-case scenario is Colorado and Coach Prime. We see the big liability, but we're not too concerned," Feazel said, noting the Buffs' season win total really tells the story. "There's not a sharp in town who hasn't been interested in Under 3.5 wins for Colorado. We've taken some bets on the Over from the public, but I've not seen one sharp player take the Over."

And if you're not cracking 3.5 wins, obviously a CFP championship is a pipe dream. Still, Sanders makes for an interesting storyline.

"It's something else. In Week 1, he's got TCU," Feazel said of a Sept. 2 road game against the CFP runner-up. "We'll see what Coach Prime is made of right away."