College Football National Championship Odds: 2023-2024 CFP Odds, Favorites, Contenders, & Longshots

Fact Checked by Shannon Lane

Key Takeaways:

  • šŸ† Michigan is the favorite to win the 2024 College Football National Championship Game at +185 odds.
  • šŸˆ Michigan, Alabama, Texas and Washington were selected as the four 2023 College Football Playoff teams.
  • šŸ“… Both the Rose Bowl (Michigan vs Alabama) and the Sugar Bowl (Washington vs Texas) will be played on Jan. 1, 2024.
Michigan Wolverines Celebrate

With Kentucky sports betting now live, there has never been a better time to place a bet on the National Champion for the 2023-24 College Football Playoffs. 

Below you find the teams that have the best odds to win the National Championship this season, as well as a list of contenders and long shots.

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College Football National Championship Odds

Here's a look at the 4 remaining college football betting contenders for the National Championship:

šŸ„‡ Michigan+185 
Alabama+200
Texas+260
Washington+750
āœ… Last Verified:February 27, 2024

Who is Favored to Win the CFP National Championship?

Michigan is currently the favorite to win the 2023-2024 CFP National Championship on with +185 odds.

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2023 College Football Playoffs: What To Watch

The Rose Bowl and the Sugar Bowl have been designated as the two College Football Playoff semifinal bowl games.

In the Rose Bowl, No. 1 seed Michigan Wolverines will face the No. 4-seeded Alabama Crimson Tide on January 1, 2024 at 5 p.m. ET. The Rose Bowl will be played in Pasadena, California, and will air on ESPN.

In the Sugar Bowl, No. 2 seed Washington Huskies will face the No. 3-seeded Texas Longhorns on January 1, 2024 at 8:45 p.m. ET. The Sugar Bowl will be played in New Orleans and will also air on ESPN.

It's also probably worth watching what happens in the Orange Bowl on Dec. 30 between the just-missed-the-cutoff teams of Georgia (No. 5) and Florida State (No. 6). The CFP Selection Committee made headlines for ranking Alabama ahead of Florida State in the playoff hunt, despite the Seminoles going undefeated in 2023.

Local Kentucky bettors will also want to pay attention to Louisville bowl projections vs USC in the Holiday Bowl on Dec. 27.

College Football National Champion Favorite

The Michigan Wolverines have the shortest odds (+185) to win the College Football National Championship in the 2023-24 season according to legal Kentucky sports betting apps. Michigan went undefeated this season with a 13-0 record and won the Big Ten Conference title game.

šŸ„‡ National Champ.+185
šŸ“ˆ CFP Committee Rank1
šŸŒ¹ Win Rose Bowl-120
šŸˆ 2023 Season Record13-0
šŸ“Š Field Odds vs UM-230
šŸ¤  UM vs Texas in Finals+180
šŸŗ UM vs Wash. in Finals+360
šŸ† J.J. McCarthy Heisman Odds+25000 (BetMGM)
āœ… Last Verified:February 27, 2024

Strengths:

  • āœ… Allowing fewest points per game in FBS
  • āœ… Allowing 2nd-fewest total yards per game & passing yards per game in FBS
  • āœ… Lead Power-5 schools with with 35 rushing TDs in 2023

Weaknesses:

  • āŒ Lacking explosive plays on offense
  • āŒ Averaging just 218.8 passing yards per game

College Football National Championship Contenders

Alabama Crimson Tide

Alabama was selected as the No. 4 seed in the CFB Playoffs after finishing the season with a 12-1 record and winning the SEC Conference Championship against Georgia.

šŸ„‡ National Champ.+200
šŸ“ˆ CFP Committee Rank4
šŸŒ¹ Rose Bowl Odds+100
šŸˆ 2023 Season Record12-1
šŸ“Š Field Odds vs UA-250
šŸ¤  UA vs Texas in Finals+210
šŸŗ UA vs Wash. in Finals+400
šŸ† Jalen Milroe Heisman+10000 (BetMGM)
āœ… Last Verified:February 27, 2024

Strengths:

  • āœ… Strong rushing attack (averaging 172.7 rushing yards per game and have 30 rush TD In 2023)
  • āœ… Allowing just 18.4 points per game
  • āœ… Strong pass defense

Weaknesses:

  • āŒ Averaging just 401.2 offensive yards per game in 2023 (31st among power-5 teams)
  • āŒ Averaging just 228.3 passing yards per game in 2023

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Texas Longhorns

Texas was selected as the No. 3 seed in the CFB Playoffs after finishing the season with a 12-1 record and winning the Big 12 Conference Championship.

šŸ„‡ National Champ.+260
šŸ“ˆ CFP Committee Rank3
šŸ„£ Sugar Bowl Odds-185
šŸˆ 2023 Season Record12-1
šŸ“Š Field Odds vs Texas-340
šŸ”µ Texas vs UM in Finals+180
šŸ˜ Texas vs UA in Finals+210
āœ… Last Verified:February 27, 2024

Strengths:

  • āœ… Rank top-8 in the power-5 in offensive total yards per game
  • āœ… Allowing just 17.3 points per game (8th in the power-5)
  • āœ… Have 23 takeaways on defense (T-7th-most in power-5)
  • āœ… 1 loss this season in a very close game vs Oklahoma

Weaknesses:

  • āŒ Inconsistent on defense
  • āŒ Haven't consistently beaten up on bad opponents

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College Football National Championship Longshots

The Washington Huskies were selected as the No. 2 seed in the CFB Playoffs after going undefeated this season and and winning the Pac-12 Conference Championship.

šŸ„‡ National Champ.+750
šŸ“ˆ CFP Committee Rank2
šŸ„£ Sugar Bowl Odds+160
šŸˆ 2023 Season Record13-0
šŸ“Š Field Odds vs Wash.-1400
šŸ”µ Wash. vs UM in Finals+360
šŸ˜ Wash. vs UA in Finals+400
šŸ† Michael Penix Jr. Heisman Odds+900 (BetMGM)
āœ… Last Verified:February 27, 2024

Strengths:

  • āœ… Averaging most passing yards per game in FBS
  • āœ… QB Michael Penix Jr. currently ranks 2nd in Heisman Trophy odds
  • āœ… WR Rome Odunze has 2nd-most receiving yards (1,428) in FBS this season (also has 13 receiving TD)
  • āœ… Undefeated record and Pac-12 championship

Weaknesses:

  • āŒ Allowing 28.1 points per game (ranks 50th among 68 Power-5 schools)
  • āŒ Easy schedule in Pac-12 conference

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CFP National Championship Odds To Bet

The futures market provides the best odds on the national title game. However, for some, holding a ticket for 5-6 months and waiting for the college football playoff and national title game is too long of a hold. Thankfully, plenty of other ways to wager on the national championship game exist.

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Futures Bets

A futures bet is one of the most common ways to bet on the championship game. A futures bet on the college football playoff national championship is a bet on which team will win the championship game. Betting lines open on the following national championship game as soon as the previous year's college football playoff ends.

Moneyline Bets

A moneyline bet on the national championship game is the same as a moneyline wager on a regular season game. Betting on a team's moneyline is simply a wager on them to win the game. If you bet $435 on Georgia's moneyline last year at -435, you would have won $100.

Point Spread Bets

Betting on the point spread is betting on either team to win by the listed spread. In last year's title game, Georgia was a 12.5-point favorite, so if you bet on Georgia, you needed the Bulldogs to win by 13 or more. Conversely, if you bet on TCU, you needed the Horned Frogs to win outright or lose by less than 13. Georgia covered the spread easily, winning by 58.

Totals Bets

Betting on the total is a wager on whether or not both teams will combine to score more or less than the listed total. Last year's total was listed at 63, and with a final score of 65-7, a wager on the over would have been a winner.

Alternate Lines Bets

When you bet on an alternate line, you take a different number than what's listed on the spread or total in exchange for more points on an underdog or a higher odds line on the favorite. An example would be a game listing a team as a 7-point favorite at -110 and a total of 63 also at -110. Betting on an alternate line would be taking the favorite as a 10-point favorite at +130 or betting the over at 68 listed at +165.

Live Betting Odds

Placing a live bet is betting on a game after it has started. The spread, total, and odds are constantly changing when betting on a game live. This allows you to get a better line or odds on a game.

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CFP National Championship History

Since the CFP national championship format began, no team has made more appearances or won more championships than the Alabama Crimson Tide. Clemson is the only school even to come close to their dominance. 

However, the SEC as a whole leads by a wide margin in both appearances and national championships, and the table below illustrates this dominance.

  • šŸ† = College Football Playoff National Championship Wins
  • šŸŽ–ļø = College Football Playoff Appearances
Alabama Crimson Tide (SEC)šŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸ†šŸ†šŸ†
Clemson Tigers (ACC)šŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸ†šŸ†
Georgia Bulldogs (SEC)šŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸ†šŸ†
Ohio State Buckeyes (BIG 10)šŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸŽ–ļøšŸ†
LSU Tigers (SEC)šŸŽ–ļøšŸ†
āœ… Last UpdatedFebruary 27, 2024

2023 College Football National Championship Game

Last year's college football championship game saw the TCU Horned Frogs take on the Georgia Bulldogs. The Bulldogs beat Ohio State in the Peach Bowl to earn their place in the national championship game, while TCU took down Michigan in the Fiesta Bowl. 

The 2023 College Football Playoff National Championship in SoFi Stadium saw Georgia favored by nearly two touchdowns over the Horned Frogs. Kirby Smart and his Bulldogs left little doubt about who the best team in the nation was as they won 65-7 to become National Champions for the second year in a row.

How have Odds for Previous CFP National Championship Winners Compared to Performance?

Only twice in the nine years since the CFP format began has the eventual Champion been listed at longer odds than +1000 to win the title in the preseason.

šŸ“… 2022Georgia +350
šŸ“… 2021Georgia +600
šŸ“… 2020Alabama +300
šŸ“… 2019LSU +2500
šŸ“… 2018Clemson +400
šŸ“… 2017Alabama +250
šŸ“… 2016Clemson +700
šŸ“… 2015Alabama +700
šŸ“… 2014Ohio State +4000
āœ… Last UpdatedFebruary 27, 2024

Biggest Upset in CFP National Championship History Based on Pregame Odds

The biggest upset, both in future odds and game lines, came in the first edition of the CFP National Championship in 2014. Ohio State opened the season listed at +4000 to win the championship. In the national championship game, the Buckeyes upset the Oregon Ducks as 6-point underdogs.

Ezekiel Elliott was the driving force behind the Buckeyes' upset, rushing for 246 yards in the National Championship game.

Which Team had Longest Odds to Win CFP National Championship?

Ohio State in 2014 is the longest-odds champion in CFP history, both in preseason future odds and outright game upset.

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Stick with us for the Latest CFP National Championship Odds Updates

As previously mentioned, National Championship odds constantly fluctuate throughout the season. Check back here for more updates all season long on the current odds for the CFP national championship. 

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NCAAF National Championship Odds FAQ

Author

Michelle Magdziuk is an editorial researcher and fantasy writer for the NFL Network. She also is a co-host for the BallBlast Fantasy Football Podcast and the Gold Diggers Podcast on the 49ers Gold Standard Network. Her wide-ranging NFL knowledge and background in fantasy football will give KY bettors the best information possible this season.

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