The past few weeks of college football has adjusted the rankings and the college football national championship oddsboard. 

The No. 1-ranked Georgia Bulldogs (10-0) picked up another win to boost their undefeated record as they continue pushing to defend their national title. The Bulldogs have put up over 200 points in the last five matchups and the solid wins have secured them a spot at the top of the odds to win the 2022-23 college football championship. 

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Online sportsbook Bovada has updated the 2023 national championship odds, making the defending champion Bulldogs (-125) the favorite ahead of the Ohio State Buckeyes (+250). Following them are the Michigan Wolverines (+700), Tennessee Volunteers (+1200) and TCU Horned Frogs (+2000) to round out the top teams on the board.

2023 College Football National Championship Odds

TeamOdds
Georgia-125
Ohio State+250
Michigan+700
Tennessee+1200
TCU+2000
USC+3000
LSU+5000
Clemson+6000
North Carolina+6000
Alabama+20000
Utah+20000
Oregon+25000
UCLA+25000
Washington+50000

Odds as of November 15 at Bovada

New to the college football scene and reading college football championship odds? Check out our handy college football betting guide to help you get in the action. Also, keep an eye on our college football odds page for the latest up-to-date betting lines.

The College Football National Championship Betting Picks

The great thing about college football is that we are seeing many familiar faces as well as some new ones this season. Here is a list of the favorites for the 2022-23 season.

The Reigning Champ: Georgia (-125)

The Bulldogs were commended after winning the national championship last season, defeating Alabama 33-18. But, heading into this year, not everyone was convinced they could be the first team to win back-to-back titles in a decade. 

Well, now we’re ahead of Week 12 and the undefeated Dawgs have been making the doubters go quiet and are starting to become heavy favorites at -125.

The Bulldogs opened the season by thrashing the Oregon Ducks 49-3. QB Stetson Bennett was focused, throwing for a career-high 368 passing yards. Since then, they’ve kept the same momentum and have put up 97 points in their last two appearances while allowing their competitors only 20.

Though the defense had some worried after it lost eight players to the NFL draft, it appears there’s nothing to stress about. Georgia’s defense is allowing 12.9 points per game, the second-lowest mark in the country. 

Georgia was tested in Week 10 facing Tennessee in a contest to decide which would be the best in the nation. Bennett, the Bulldogs’ senior QB, threw for 289 yards and two touchdowns to secure the 27-13 win. 

There are still tests before the regular season closes out, against the formerly ranked Kentucky Wildcats and the No. 6 LSU Tigers in Week 14. If the Bulldogs can avoid an upset, it’ll be smooth sailing to the CFP.

The Dawgs, who average 41.4 points per game to rank fourth in the nation, remain favored to do what many people considered impossible for them to do again – win the national title. 

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The Contender: Ohio State (+250)

The Buckeyes (10-0) are one of four undefeated teams left this season. Ohio State has the highest-scoring offense in the nation, scoring 46.8 points per game.

At the forefront is QB C.J. Stroud, the Heisman Trophy favorite who is ranked first with a 90.9 QBR and tied for first with 34 touchdown passes this year. 

In his most recent performance, the junior completed 17 of 28 passes for 297 yards and a hefty five touchdowns to defeat the Indiana Hoosiers 56-14 and cover the -40.5 spread. Big numbers have been the narrative all season for the California native.

The Buckeyes’ toughest matchup still awaits as they are scheduled to host the No. 3 Michigan Wolverines to wrap up the season. Ohio State is 8-2 in the past 10 meetings with Michigan.

The Dark Horse: Tennessee (+1200)

Currently ranked No. 5, the Tennessee Volunteers (9-1) have paid rent in this space as our dark-horse pick. Despite their recent loss to the Bulldogs, the Vols’ resume and easy upcoming contests vs the South Carolina Gamecocks and Vanderbilt Commodores keep them in the top four on the oddsboard. 

As +9.5 underdogs as per Bovada, the Vols briefly stole the No. 3 ranking by taking down ’Bama when Chase McGrath booted a 40-yard field goal with no time left on the clock. 

Earning at least three touchdowns in three of his past four performances, QB Hendon Hooker has been incredibly consistent, helping his team average 45.4 points per game to rank second in scoring. 

The Volunteers were punished with a tough schedule but they’ve managed to surprise us by only dropping one game against Georgia. So far, Tennessee has seen success against five ranked squads, including their 44-6 win over the No. 19 Kentucky Wildcats. 

Is it fair to judge the Vols’ entire season based on just the last game among their challenging slate of contests? There’s no denying Georgia is the cream of the crop of college football, but I wouldn’t count Tennessee out just yet if it can squeak into the CFP. 

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What Is A Futures Bet For NCAA 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 +175
  • Alabama +300
  • Ohio State +350

Alabama opens as the fave since the Crimson Tide have the lowest odds. The Bulldogs 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.

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College Football National Championship FAQ

How are the College Football Playoff teams determined?

In 2014, the NCAA decided to do away with the BCS (Bowl Championship Series) in favor of the modern-day four-team College Football Playoff. A committee of 13 members from the five major conferences selects the four best teams.

Who won the 2022 national championship?

The Georgia Bulldogs (14-1) won the 2022 College Football Playoff National Championship. In the title game, the Bulldogs defeated the Alabama Crimson Tide 33-18 despite trailing by a field goal after the first half. In a strong fourth quarter, they earned 20 points to secure the championship. You can see which team is favored to win the 2023 championship game on our futures page.

How do you bet on the national championship?

There are several different ways you can bet on the national championship. The two most common ways are to make a futures bet where you choose the winner before the teams are determined, or bet on the game itself when the teams are decided. A betting tutorial can help you place a wager.