National Championship Odds: Betting favorites to win College Football Playoff after Week 3

With the introduction of the 12-team College Football Playoff, teams are hungrier than ever to stake their claim at the top of the college football totem pole. However, only one team can walk away with the trophy.

The 12-team format will include the five highest-ranked conference champions, along with the next seven highest-ranked teams. After a weekend of jaw-dropping action, FanDuel adjusted its odds for which team will win the national championship.

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The sportsbook left no stone unturned, including odds for blue-chip programs and dark horses alike. To see FanDuel’s complete list of odds for the next national champion, look below.

Ohio State Buckeyes +330

Ohio State surpassed Georgia this week as FanDuel’s favorite to take home the national title. The Buckeyes had a bye in Week 3 but its stunning performances through the first two weeks of the season must have resonated with the oddsmakers.

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Ohio State won its first two games of the season by a combined score of 108-6. The team is only allowing 138 yards per game, the least in the nation. Between Ohio State’s stellar defense and its standout receivers on offense, it’s easy to see why FanDuel has high expectations for the Buckeyes.

Georgia Bulldogs +370

For the first time in the 2024 campaign, Georgia is not the favorite to win it all. On Saturday, the Bulldogs suffered a scare, only defeating an unranked Kentucky squad by one point.

In the win, Georgia recorded a mere 262 yards of offense, its lowest output of the season. Nonetheless, this mishap isn’t the first time Georgia has suffered early scares under head coach Kirby Smart. With Carson Beck leading the way, oddsmakers expect the Bulldogs to right their ship.

Texas Longhorns +550

Texas’ odds didn’t shift this week despite delivering a 56-7 beatdown to UTSA. In the win, the Longhorns showed off the depth of their quarterback room. After starter Quinn Ewers went down with an abdominal injury, Arch Manning came in and stole the show.

The former five-star QB completed 9-of-his-12 pass attempts for 223 yards and four touchdowns. Additionally, Manning showed off his wheels, recording a 67-yard touchdown run in his second offensive series. After Saturday, there’s no doubt Texas is more than a one-man show.

Alabama Crimson Tide +850

Alabama saw its national championship odds improve this week following a convincing 42-10 triumph over Wisconsin on the road. No team this season is yet to come within 25 points of the Crimson Tide.

Quarterback Jalen Milroe looked like a Heisman Trophy frontrunner in the victory, collecting 196 yards and three touchdowns through the air, while recording a team-high 75 yards and two scores in the ground game as well.

Oregon Ducks +950

Oregon is No. 9 in the AP Top 25 but boasts the fifth-best odds of bringing home the coveted national championship trophy. On Saturday, the Ducks squashed any overrated rumors with a convincing 49-14 win over Oregon State.

It was a statement win for Oregon after the program looked far from perfect in its first two games of the season. Quarterback Dillon Gabriel was nearly perfect against the Bevers, connecting on 20-of-24 passes for 291 yards and two touchdowns.

Ole Miss Rebels +1200

Ole Miss hasn’t played a ranked opponent yet but its first showdown against a Power Five program was promising. On Saturday, the Rebels dominated Wake Forest 40-6. Ole Miss head coach Lane Kiffin had extra motivation against the Demon Deacons after they canceled their game against Ole Miss next season ahead of the game.

Ole Miss buried Wake Forest in the win, notching 649 total yards of offense. The Rebels lead the country in total offense, averaging 692 yards per game. For reference, Miami averages the second-most with over 50 fewer yards per game.

Tennessee Volunteers +1400

Tennessee soared in the odds this week, leap-frogging several powerhouse programs. It’s difficult to fault the oddsmakers for their excitement. With its 71-0 win over Kent State on Saturday, Tennessee boasts an average win margin of 59.3 points per game.

In Week 2, the Volunteers hammered the NC State Wolfpack, who was ranked No. 24 at the time, in 41-10 blowout fashion. The Volunteers are a well-oiled machine. Their offense is averaging the second-most yards per game in the country while its defense is allowing the second-least.

Miami Hurricanes +1800

If the season ended today, Miami would stroll into the College Football Playoff as the ACC Champion. The Hurricanes have looked like a transformed program this season, with quarterback Cam Ward carrying the torch.

On Saturday, Miami annihilated Ball State in a 62-0 effort. In the win, Ward threw for 346 yards and five touchdowns while running back Ajay Allen exploded for 104 rushing yards and a score.

Penn State Nittany Lions +2000

Penn State didn’t play this weekend and it may have been for the best. Penn State enjoyed a week to recompose itself after a nail-biting 34-27 win over Bowling Green.

The Nittany Lions entered the game as 34.5-point favorites but quickly realized they were in for a more difficult battle than expected. Penn State’s defense struggled to find stops, giving up 375 yards to the Falcons. In Week 4, Penn State will look to bounce back with a win over Kent State.

USC +2800
Missouri +5000
LSU +5000
Utah +5000
Clemson +6000
Kansas State +6000
Notre Dame +6000
Texas A&M +8000
Oklahoma +8000
Louisville +12000
Nebraska +15000
Oklahoma State +15000
Michigan +15000
Memphis +20000
Boise State +20000