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Updated 2023-24 College Football Playoff National Championship odds released

On3-Social-Profile_GRAYby:On3 Staff Report•07/05/23

It’s the middle of summer and that means it’s prognostication season, where fans and analysts alike debate which teams are likely to star in the 2023 campaign. Along with that, updated 2023-24 College Football Playoff national championship odds have been released by BetMGM.

The sportsbook has listed a pretty deep range of odds for teams, giving fans that feel confident about their squads the opportunity to put their money where their mouth is.

Unsurprisingly, Georgia is once again the favorite after winning back-to-back national titles and returning a huge chunk of production with a relatively light schedule. Who else could challenge the Bulldogs? Let’s dive into the national championship odds below.

1. Georgia +220

Though the Bulldogs will have to replace quarterback Stetson Bennett and a handful of other stars, Georgia’s recruiting has been at the top of the sport since coach Kirby Smart took over. The Dawgs will be loaded again.

Couple that with a non-conference schedule that features Georgia Tech as the lone Power 5 opponent and a navigable SEC slate, and Georgia could be in for another big year.

2. Alabama +600

Like Georgia, Alabama must replace a star quarterback in No. 1 overall NFL Draft pick Bryce Young. Like Georgia, Alabama has the talent to do just that.

Notre Dame quarterback Tyler Buchner will vie for the starting job after transferring in, reuniting with former Fighting Irish offensive coordinator Tommy Rees, but he’ll face stiff competition in Jalen Milroe. Whoever comes out on top in the battle for Tide QB1 will have a plethora of quality options at his disposal.

3. Ohio State +700

The Buckeyes also must replace starting quarterback CJ Stroud, but they’re in position to make life easy on his replacement. Receivers Marvin Harrison Jr. and Emeka Egbuka are among the best in the game, while running backs TreVeyon Henderson and Miyan Williams are elite.

The real question for Ohio State is whether it can turn around the Michigan series again after dropping two straight.

4. Michigan +900

The Wolverines have made back-to-back College Football Playoff appearances, so it’s no surprise their national championship odds heading into 2023 are among the nation’s best.

The real question is how well quarterback JJ McCarthy can continue to settle in and elevate his game to the next level. Like both Ohio State and Penn State, he’ll have an elite backfield to lean on, powered by Blake Corum and Donavan Edwards.

5. LSU +1200

An upstart and a surprise in the 2022 campaign, LSU won’t have the luxury of catching people off-guard in 2023. Not with starting quarterback Jayden Daniels back.

Brian Kelly did a really nice job shoring up the holes in the roster via the transfer portal this offseason, too, putting LSU in position to make some real noise this fall.

6. USC +1400

It’s not every day your team fields a returning Heisman Trophy winner, but such is the case for Lincoln Riley and the Trojans in 2023. Caleb Williams is back and looking for more.

Though the roster Riley inherited needed major work, USC has moved quickly to fill the gaps. Quickly enough to contend for a title this fall? We’ll see.

7. Clemson +1800

After a couple down years by Clemson standards, the Tigers are pinning their hopes on the arms of quarterback Cade Klubnik. Klubnik finally took over the starting job late last year and chased DJ Uiagalelei into the transfer portal.

Now the Tigers will find out whether they can retain their foothold at the top of the ACC against some other would-be contenders.

8. Florida State +1800

Florida State is one of those contenders for Clemson. Quarterback Jordan Travis is back after a tremendous year, and coach Mike Norvell has had the program on a steady incline.

A season opener against LSU could go a long way toward providing momentum or letting Florida State know just how much work is still needed.

9. Texas +2200

Is Texas finally … back? Well, quarterback Quinn Ewers is, as are some of his top weapons on offense. Ahead of a move to the SEC, Texas would like to prove it can still win the Big 12 one more time.

Of course, an early season trip to Alabama will provide a pretty good early litmus test for the Longhorns.

10. Penn State +2500

Sean Clifford has departed and Drew Allar takes over at quarterback. He has all the tools, with an NFL-sized body and a powerful arm. He’ll also have one of the nation’s best backfields to work with, led by Nick Singleton and Kaytron Allen.

But for Penn State to justify its top 10 national title odds, the Nittany Lions will need to find some way past the Buckeyes and Wolverines.

More National Championship Odds

  1. Notre Dame +3000
  2. Tennessee +3500
  3. Oregon +3500
  4. Washington +4000
  5. Texas A&M +5000
  6. Utah +5000
  7. Wisconsin +5000
  8. Oklahoma +6600
  9. UCLA +10000
  10. Ole Miss +12500

Notre Dame and Tennessee are among the top contenders outside of the top 10 national championship odds, with Wake Forest quarterback transfer Sam Hartman set to showcase his skills in South Bend and Joe Milton looking to prove he can adequately replace Hendon Hooker in Knoxville. But there are a handful of other teams with long odds that will have a chance to shake up the College Football Playoff race in 2023 too, from Oregon to Washington to Ole Miss.