Ohio State one week. Texas the next. Now the college football national championship odds have come full circle, with the Georgia Bulldogs back where they started — as the favorite to win the College Football Playoff national championship.

Indeed, the preseason title favorites returned to the top of the odds board after their dominant victory at then-No. 1 Texas, which was the +370 championship favorite last week. Now it’s Georgia as the +360 championship favorite entering Week 9 of the season, with a quartet of teams—the Bulldogs, Ohio State, Texas and Oregon—beginning to separate themselves from everyone else. 

But sports bettors should keep in mind that teams don’t have to go unbeaten (or close to it) to vie for the national title anymore—the expanded, 12-team playoff debuting after this season will accommodate five conference champions and seven at-large entries, potentially opening the door for teams with two or even three losses.

2024 College Football National Championship Odds

Odds as of October 21, 2024 

See Our Best CFB Betting Sites Here

NCAAF National Championship Favorite: Georgia, +360

The Bulldogs’ defensive line was simply dominant in a 30-15 victory at Texas, where Georgia overcame even a three-interception effort from quarterback Carson Beck. The Bulldogs are off in Week 9 ahead of a neutral-site game against resurgent Florida, and also have Ole Miss and Tennessee still to come—as well as potentially the SEC title game, maybe even against the Longhorns once again.

But the competition in the SEC is brutal, Beck seems to be taking steps backward, and the Bulldogs tend to play up or down to competition. Given the difficulty of its schedule, Georgia still seems a safe bet to make the playoff even with a second loss, should that occur. Beyond that? This is all new, so who knows.

NCAAF National Championship Contender: Oregon, +500

Ohio State is higher on the national title odds board than Oregon, despite the Ducks’ victory over the Buckeyes two weeks ago in Eugene. Oregon has been rock solid since working out some offensive line issues that led to squeakers in their first two games, and is a 21.5-point home favorite Saturday over a nationally ranked Illinois team with a very good defense.

The Ducks’ schedule beyond that is very favorable, with a road trip to Wisconsin looming as the only real road block. While the Big 10 remains wide open—there are six teams with zero or one loss in conference entering Week 9—Oregon is in the driver’s seat to reach the conference title game and potentially secure a bye through the first round of the playoff.

NCAAF National Championship Long Shot: Miami, +1800

Oh sure, they’re hair-raising. They’re unpredictable. They continue to walk the tightrope between great and—well, something else. But the Miami Hurricanes keep winning, most recently surviving a 52-45 shootout at Louisville. The rest of the schedule doesn’t look difficult, but again, this is a team that barely scraped by Virginia Tech and Cal.

With quarterback Cam Ward, the national leader in passing yards and passing touchdowns, anything seems possible. The Hurricanes are 21-point home favorites over Florida State in Week 9. Miami and Clemson seem on a collision course for the ACC title game—and the question is whether there’s room for both in the playoff, given that the league’s relative lack of competitive depth.

Last 10 College Football National Champions

The SEC conference has claimed six of the last national titles over the last decade. By the looks of it, sportsbooks do a decent job with their opening odds. Only one program had early odds of +1000 or higher, the Buckeyes in 2014. 

nCAAF Teams with the most national titles

Despite not having hoisted the trophy since 1927, Yale was a wagon, picking up 14 titles by the turn of the 20th century.

In terms of modern-day history, the Tide has been passed the torch as a dynasty. With the help of Nick Saban, Alabama pocketed six championships between 2009 and 2020. 

nCAAF National championship betting trends

How to bet on the college football national championship

When it comes to big events for any sport, you can bet on futures months in advance -- including which team will win the national championship. Each week, oddsmakers will update the odds to reflect how a squad is doing. If a team is plagued with injuries, their chances of making it to the final game slim down. A surging squad will see their odds skyrocket.

When you go to a college football sportsbook, you’ll see the betting lines laid out like this:

Georgia opens as the fave since the Bulldogs have the lowest odds. The Crimson Tide and Buckeyes are considered underdogs.

If you believe that Georgia has the best chance of winning the championship, and you bet $100 on them, you’d get a payout of $275 – your original $100 is returned along with your winnings of $175. Our odds calculating toolwill show you how much you’d win based on the odds and amount bet.

When you see futures odds that you like, it’s best to jump on them early. As mentioned above, betting sites will adjust the odds as we get closer to bowl season and teams move up and down in the standings.