College Football Championship Odds: Michigans Latest Win Earns Major Odds Perks

Over the last few weeks, college football has seen some changes on various oddsboards. For the first time in a long time, the Georgia Bulldogs aren't National Championship favorites. Instead, the Michigan Wolverines have taken over as the College Football Playoff quickly approaches.

2023 College Football National Championship Odds

• See More

College Football National Championship Betting Picks

Here are the favorites to win the 2023 college football national championship.

Michigan wolverines are now national championship favorites

Despite the season's adversity of Jim Harbaugh's sign-stealing investigation and suspensions, Michigan (12-0 SU, 6-5-1 ATS) stays on top of its game. The Wolverines' defense has been the catalyst behind all the success, allowing just 10.3 PPG this year. Their recent outing in Week 13 where Michigan thrillingly took down Ohio State in The Game for the third-straight season, 30-24, to keep its undefeated title and go on to the Big 10 championship.

On the offensive side, starting QB J.J. McCarthy, with his 90.8 QBR (ranked third) looks precise, completing 74.3% of his tosses, over 2,400 yards and 19 touchdowns. He played smart in his crucial performance versing the Buckeyes, completing 16-of-20 passes for a meticulous 148 yards. But, notably, the run game has been elite courtesy of RB Blake Corum, who is nearing 1,000 yards but carries an insane 22 touchdowns on his back. 

BLAKE CORUM BREAKS FREE 💨

Michigan back on top

(via @CFBONFOX)pic.twitter.com/E2g2U9zruY

— Bleacher Report (@BleacherReport) November 25, 2023

The big, bad blue are getting all the credit. Michigan got a couple of courteous nods after wrapping up the 2022 regular season 13-0 for its best record since 1998. The effort had the Wolverines enter the first AP Poll ranked second, its highest preseason ranking since 1991, and they haven't budged. So, yeah, I'm not alone in thinking they're one of the best to watch.

georgia stays the beast of the SEC

The 2-time, reigning, defending, champions' have spent another season dominating, cruising through three ranked opponents in the final four weeks. Now, the Dawgs (12-0 SU, 4-7-1 ATS) gear up for the SEC Championship against Alabama.

Kirby Smart has built a program where he has athletes in every position. RB Daijun Edwards (781 YDs, 11 TDs) and Kendall Milton (644 YDs, 10 TDs) hold the ground while 10 receivers have snagged over 100 yards with at least a single hit in the endzone. 

Replacing Stetson Bennett wasn't going to be simple, but QB1 Carson Beck has looked more secure in his role as the weeks pass. In his last five appearances, the junior has added 10 touchdowns to his stats and tossed over 250 yards in four of those meetings.

this right here epitomizes everything Kirby Smart has said all year about Carson Beck’s calm and cool collectedness pic.twitter.com/WBBTlUu3dv

— Benjamin Wolk (@benjaminwolk) November 20, 2023

For Georgia, there's less nerves. They've been here before, they've known nothing but success in the last three years. But, I'm not convinced they're impossible to dethrone. 

2023 National Championship Favorites and Value Picks

While the Wolverines and Bulldogs are literally spotless, there are still a few contenders that could shake things up. 

Washington Huskies (+1200)

Of course, I'm looking at the final undefeated team in a tough Pac-12. This conference was highly competitive in its final year with Oregon, Utah, USC, Arizona and Oregon State all being potential CFP contenders at one point this year. 

Micheal Penix Jr. is leading the dangerous Huskies (12-0 SU, 5-6-1 ATS) passing attack. The senior has tossed nearly 3,900 yards for 32 touchdowns, reaching the endzone four or more times in five different outings. He isn't afraid to throw the pigskin, that's for sure. 

The Huskies keep up with the nation's best averaging 38.0 points per game. Their receiving corps is lethal, with the tandem of Rome Odunze, earning 1,326 yards in 2023, and Ja'Lynn Polk, sparkling with 21 touchdowns combined. 

Have Washington's last three dubs been within a touchdown or less? Yes. But, it's been a tough schedule and at least we know the Huskies are prepared to go head-to-head with some of the best in the nation.

Still can’t believe Kalen DeBoer and Ryan Grubb not only made this play call but had the guts to make it an option play

Penix read it perfectly Odunze finished it.

The Washington Huskies are 1 win away from the COLLEGE FOOTBALL PLAYOFFS

pic.twitter.com/IfwrX1E7tU

— George Jarjour (@GeorgeOnTap) November 27, 2023

Last 10 College Football National Championship Winners

What Is A Futures Bet For College Football Teams?

When it comes to big events for any sport, you can bet months in advance. In this case, a futures bet is a wager made on 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.

Understanding College Football Championship Odds

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. On the other hand, if you’re looking at Ohio State and think they’re going to win it all, that same $100 would give you $450 – you get your $100 back, plus your prize of $350. Our odds calculating tool will 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.