Indiana quarterback Fernando Mendoza took home the Heisman, finishing as a massive -1000 favorite after leading the Hoosiers to a Big Ten Championship. Notre Dame's QB CJ Carr leads the early 2026 Heisman Trophy oddsboard at +800 at FanDuel. Shortly behind him is Texas' Arch Manning (+850), who is looking to rebound from his slow debut season.
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2026 Heisman Trophy Odds
| Player | Odds |
|---|---|
| CJ Carr (Notre Dame) | +800 |
| Arch Manning (Texas) | +850 |
| Josh Hoover (TCU) | +1100 |
| Jeremiah Smith (Ohio State) | +1300 |
| Julian Sayin (Ohio State) | +1300 |
| Gunner Stockton (Georgia) | +1300 |
| Sam Leavitt (Arizona State) | +1300 |
| Dante Moore (Oregon) | +1300 |
| Jayden Maiava (USC) | +2000 |
| Marcel Reed (Texas A&M) | +2000 |
Odds as of Jan. 27th, 2025 at FanDuel
cJ Carr leads early 2026 Heisman trophy odds
Carr broke out in his first season as a starter, throwing for 2,741 yards with 24 touchdowns and only six interceptions while completing about 67% of his passes. He also added three scores on the ground, finished top-10 nationally in passer rating (83.4), and led Notre Dame to double-digit wins in 10 straight games. Expectations around South Bend are rising fast, especially with notable recuits like LB TJ Davis (son of ex-NFLer Thomas Davis) and WR Devin Fitzgerald (son of ex-NFLer Larry Fitzgerald). Marcus Freeman has been pulling top-notch players from the transfer portal, including DT Tionne Gray from Oregon, WR Quincy Porter from Ohio State and EDGE Keon Keeley from Alabama.
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 next year's Heisman candidates when those odds are released.
Last 10 Heisman Trophy winners
| Year | Winner | Preseason Odds | Closing Odds | Preseason Favorite (Odds) |
|---|---|---|---|---|
| 2025 | Fernando Mendoza | +5500 | +175 | Arch Manning (+900) |
| 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) |
Indiana's quarterback Fernando Mendoza became the first player in program history to take home the Heisman Trophy. The junior was a +6600 longshot in Week 2, but turned heads after leading the Hoosiers to a perfect 13-0 record and a Big Ten Championship. In 2025, 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.
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.
- Eight Heisman Trophy winners of the last decade were all quarterbacks. The two exceptions were two Alabama products, WR Devonta Smith (2020) and Colorado's CB/WR Travis Hunter (2024).
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
