The Heisman race has been fascinating to watch this season, but it's all but decided now. Indiana quarterback Fernando Mendoza is a massive -1000 favorite after leading the Hoosiers to a perfect 13-0 record and a Big Ten Championship with excellent passing statistics. Vanderbilt quarterback Diego Pavia is closest to Mendoza at +650. Notre Dame running back Jeremiyah Love (+35000) and Ohio State signal-caller Julian Sayin (+50000) are the other finalists.
Terms and Conditions
Must be 18+ (19+ in AL, NE; 19+ in CO for some games; 21+ in AZ, MA, and VA) and present in a state where Underdog Fantasy operates. Terms apply. See assets.underdogfantasy.com/
Terms and Conditions
New customers only. Deposit min. $10. Place first bet of min $5 and get $150 in bonus bets if your bet wins.
Gambling Problem? Call 1-800-GAMBLER.
21+ and present in OH.
Terms and Conditions
GAMBLING PROBLEM? CALL 1-800-GAMBLER, (800) 327-5050 or visit gamblinghelplinema.org (MA). Call 877-8-HOPENY/text HOPENY (467369) (NY).
Please Gamble Responsibly. 888-789-7777/visit ccpg.org (CT), or visit www.mdgamblinghelp.org (MD).
21+ and present in most states. (18+ DC/KY/NH/WY). Void in ONT/OR/NH. Eligibility restrictions apply. On behalf of Boot Hill Casino & Resort (KS). Fees may apply in IL. 1 per new customer. Must register new account to receive reward Token. Must select Token BEFORE placing min. $5 bet to receive $200 in Bonus Bets if your bet wins. Min. -500 odds req. Token and Bonus Bets are single-use and non-withdrawable. Token expires 10/19/25. Bonus Bets expire in 7 days (168 hours). Stake removed from payout. Terms: sportsbook.draftkings.com/
Gambling Problem? Call 1-800-GAMBLER.
21+ and present in OH.
2025 Heisman Trophy Odds
| Player | Odds |
|---|---|
| Fernando Mendoza (Indiana) | -1000 |
| Diego Pavia (Vanderbilt) | +650 |
| Jeremiyah Love (Notre Dame) | +35000 |
| Julian Sayin (Ohio State) | +50000 |
Odds as of Dec. 11th, 2025 at FanDuel
Mendoza Pulls Ahead in Heisman Race
Mendoza has an iron grip on the Heisman lead. The 22-year-old threw for 2,758 yards, 32 touchdown passes against just five interceptions, and he added another six touchdowns as a runner before the Big Ten Championship. Mendoza and the Hoosiers were a perfect 12-0, including 9-0 in conference play, and Indiana's offense ranked second in scoring in the nation at 44.3 PPG.
Mendoza then took down No. 1 Ohio State and its top-ranked scoring defense to win the Big Ten Championship. He completed 15 of his 23 pass attempts for 222 yards, a touchdown, and a pick against the Buckeyes. That brought his totals to 2,980 yards, 33 touchdowns, and six picks.
Be sure to check out our best college football betting promos to maximize your payout if you're looking to lock in a futures bet on Mendoza or any of the other Heisman candidates.
Last 10 Heisman Trophy winners
| Year | Winner | Preseason Odds | Closing Odds | Preseason Favorite (Odds) |
|---|---|---|---|---|
| 2024 | Travis Hunter | +3500 | -2500 | Carson Beck (+750) |
| 2023 | Jayden Daniels | +1000 | -1200 | Caleb Williams (+475) |
| 2022 | Caleb Williams | +800 | -2500 | CJ Stroud (+400) |
| 2021 | Bryce Young | +900 | -3500 | Spencer Rattler (+550) |
| 2020 | DeVonta Smith | +6600 | -200 | Justin Fields (+450) |
| 2019 | Joe Burrow | +4000 | -12500 | Tua Tagovailoa (+250) |
| 2018 | Kyler Murray | +3000 | +700 | Tua Tagovailoa (+400) |
| 2017 | Baker Mayfield | +700 | -1800 | Sam Darnold (+500) |
| 2016 | Lamar Jackson | +10000 | -1350 | Deshaun Watson (+450) |
| 2015 | Derrick Henry | +2500 | -465 | Trevone Boykin (+650) |
Colorado CB/WR Travis Hunter was named the 2024 Heisman Trophy winner. It marked just the second time in the last two decades that a wide receiver took home the trophy. But did you know his odds to win the Heisman Trophy peaked as high as +5000?
It was a tight race between Hunter and Ashton Jeanty, who was just 28 yards from breaking the single-season rushing record. But it was Hunter's unfathomable efforts and stamina on defense and offense that were too rare and impressive to ignore.
College Football Schools with the most Heisman winners
| School | Number Of Winners | Latest Winner |
|---|---|---|
| USC Trojans | 8 | Caleb Williams (2022) |
| Ohio State Buckeyes | 7 | Troy Smith (2006) |
| Oklahoma Sooners | 7 | Kyler Murray (2018) |
| Notre Dame Fighting Irish | 7 | Tim Brown (1987) |
| Alabama Crimson Tide | 4 | Bryce Young (2021) |
| Auburn Tigers | 3 | Cam Newton (2010) |
| Army Black Knights | 3 | Pete Dawkins (1958) |
| Florida Gators | 3 | Tim Tebow (2007) |
| Florida State Seminoles | 3 | Jameis Winston (2013) |
| Michigan Wolverines | 3 | Charles Woodson (1997) |
With Reggie Bush's award being reinstated last year and Caleb Williams snatching the award a couple of years ago, the Trojans now hold the most Heisman Trophy winners (8).
Heisman trophy betting trends
- Since 2013, five Heisman Trophy winners have been selected first overall at the NFL Draft (Jameis Winston, Baker Mayfield, Kyler Murray, Joe Burrow, Bryce Young).
- Cam Newton remains the only double-transfer Heisman winner in history. Newton started his collegiate career in Florida, then transferred to Blinn Junior College and then joined Auburn to top it all off.
- Five of the last six Heisman-winning quarterbacks were transfers.
- Seven Heisman Trophy winners of the last decade were all quarterbacks. The three exceptions were two Alabama products, WR Devonta Smith (2020) and RB Derrick Henry (2015), and Colorado's CB/WR Travis Hunter.
Making A Futures Bet
A futures bet is a wager on an outcome decided later in the season, like the Heisman Trophy. Since the award isn't handed out until mid-December, locking in your pick early can get you better odds. As the season goes on and the picture gets clearer, those odds will tighten.
How To Read Heisman Trophy Odds
The above chart features the odds for each top player in college football. At your sportsbook of choice, the betting lines would look something like this:
- Arch Manning +500
- Cade Klubnik +800
- DJ Lagway +1000
This means that Manning is the favorite since he has the lowest odds and the highest chance of winning the prop, according to oddsmakers. If you were to bet $100 on Manning and he won, you would get a payout of $600 – your original $100 is returned along with your winnings of $500.
On the other hand, if you strongly believe that Cade Klubnik is going to win the Heisman at Clemson, a winning $100 bet on him would yield $900 – your $100 comes back along with your prize of $800.
Our Odds Calculator will show you how much you'd win based on the odds and the amount bet.
Handicapping Your Heisman Odds Bet
We have the goods to ensure that you can make smart picks. Check out our college football pages to give you the edge over other bettors:
• Odds
• Futures
• Scores
