College Football National Championship Odds: Georgia Favored For 2024

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New Alabama football head coach Kalen DeBoer talks with the media in his introductory press conference at Bryant-Denny Stadium, Saturday, Jan. 13, 2024, in Tuscaloosa, Ala. DeBoer is replacing the recently retired Nick Saban.
(AP Photo/Vasha Hunt)
Chase Kiddy @chaseakiddy Jul 05, 2024, 8:26 AM
  • College football national championship odds price Georgia (+325) as the favorite.
  • Ohio State has charged up the board since January and is currently +375.
  • Alabama slid from +550 to +1400 in the months after Nick Saban announced his retirement.
  • Michigan was adjusted to +2000 after Jim Harbaugh left the Wolverines.

The 2024 college football season will be a historic one. The FBS level of NCAA football will play its first-ever expanded playoff, with 12 teams facing qualifying for the draw instead of four.

There’s never been a more exciting time in the college football odds market. The BetMGM online sportsbook has several futures options available for bettors.

Odds To Win National Championship 2024

TeamTitle Odds
Ohio State+375
Ole Miss+1600
Florida State+2500
Penn State+2500
Notre Dame+2500
Texas A&M+4000
Miami (FL)+5000
Kansas State+8000

College Football National Championship Prediction

Based on the current futures market, the Georgia Bulldogs have an implied 23.5% chance to win the college football national championship.

Ohio State (+375, 21.1%) is the second most likely to win the Super Bowl, followed by Texas (+700, 12.5%).

College Football National Championship Odds: Ohio State Nears Favorite Status

Kyle McCord transferred to Syracuse. Marvin Harrison Jr. has left for the NFL. The Big Ten is breaking up its divisions and welcoming in USC, UCLA, Washington, and Oregon.

That’s a lot of variables to consider for Ohio State. The Buckeyes will have road games at Michigan State, Penn State, and Oregon while breaking in a new starting quarterback and a handful of new playmakers.

None of that seems to matter much for the college football betting community, which is targeting Ohio State at astronomical levels early in the offseason. At BetMGM, about 27% of all championship tickets and 41.4% of all championship handle was behind the Buckeyes, as of April 3. 

As a result of the big volume and money, Ohio State has moved from +700 at open to +375 now. That temporarily made the Buckeyes a co-favorite with Georgia.

Georgia is a popular target in its own right, collecting about 12% of all tickets and 16% of all handle. The Bulldogs just can’t keep up with those crazy, early-cycle Ohio State numbers.

Personally, I think the Georgia ticket makes a lot more sense. Importantly, the Bulldogs return quarterback Carson Beck, who should be an early Heisman odds frontrunner after a quietly efficient 2023 season. Beck threw for 3,941 yards and 24 touchdowns (six INTs) while posting an 86 QBR – the fifth-highest mark in college football last year. 

Not bad for a first-year starter. 

Life After Saban: What To Expect Next For Alabama Football

The 2024 offseason was hardly underway when the college football landscape was dealt a seismic shift. Nick Saban announced he was retiring, leaving the post he has occupied in Tuscaloosa since 2008.

The news immediately launched hundreds of takes and an international coaching search. Alabama pledged to make a hire within 72 hours, and it did – bringing on Washington coach Kalen DeBoer to replace a living legend. (Washington, in turn, tapped Arizona’s Jedd Fisch.)

As much as I like and respect DeBoer, I’m not sure that I’d want the unenviable job of replacing Saban at Alabama. In terms of expectations, that seems like an absolutely impossible job to succeed at. But let’s set that aside for a second and talk about the actual odds.

Just 24 hours after Michigan hoisted the national championship trophy, Alabama was +550 to win next year’s title. With DeBoer firmly installed as the head man in Alabama, the Crimson Tide moved slightly to +800. They’ve since settled down at +1400.

With Texas and Oklahoma entering the conference picture in 2024, and playoff access widening out to 12 teams, there has never been a crazier or more complex time to try to handicap the SEC. The traffic at the top of the conference will be wild and carnage-fueled. It is not crazy to imagine a scenario where four or five SEC teams make the inaugural playoff field of 12. 

In DeBoer’s first year, can Alabama successfully navigate post-Saban players entering the portal? Can they survive an even more brutal SEC, make the postseason, then win three or four playoff games? 

That seems like a lot to ask for a very rich +1400 price. But DeBoer is an excellent coach, and Alabama will continue to recruit at a high level.

College Football Odds: Finding Value in the 2024 National Championship Market

Every year, there’s a lot of discussion of “value” in this part of the odds table. Here’s a question I field nearly every summer: “Sure, you can bet on Alabama to win another national championship at short odds, but wouldn’t you rather have Kansas State at 100-to-1?”

Chris Klieman is an excellent coach who I am a huge fan of, and Kansas State may indeed compete for another conference championship next season. But any intrinsic “value” that may exist here is dwarfed by the fairly obvious reality that Kansas State has zero chance of winning a national championship next season.

I call this the Utah rule. A few years ago, Utah was a trendy pick to win the national championship at +7500. Paul Finebaum would bring guests on to talk about the Utes. ESPN Radio loved them. Talking heads would slide them in as their fourth and final playoff pick throughout the summer.

And here’s the thing: Utah nearly won the Pac-12 and made the playoff! 

They ultimately choked pretty hard in the conference title game to Oregon and never had a shot at the Final Four. Even if they hadn’t, would Utah really have stood a chance in a four-team playoff against multiple SEC opponents? Or Ohio State? It’s… unlikely.

As a general rule, I don’t bet venture down this far when hunting for futures in the college football championship odds market. I might bet on a dark horse to win its conference or make the playoff, as I did with TCU last season. 

But national championships are nearly always won by known goliaths with warehouses full of blue-chip recruits and future NFL players. That’s just the way this sport goes. When it comes to buying a national championship ticket, it’s usually prudent to keep your eyes above the +5000 line.

Longshot National Championship Odds

TeamTitle Odds
NC State+15000
Oklahoma State+20000
North Carolina+25000
Texas Tech+25000
West Virginia+25000
Iowa State+30000
Michigan State+30000
Oregon State+30000
South Carolina+30000
Wake Forest+50000
Coastal Carolina+50000
Mississippi State+50000
Arizona State+50000

How To Bet on College Football Futures

College football betting doesn’t stop when the games end in January. You can bet on futures throughout the offseason!

As teams are holding spring practice, adding players from the transfer portal, and releasing depth charts, you can view updated online sports betting odds for a variety of markets, including national championship odds, win totals, and conference champion odds.

If you don’t have an account, register today with BetMGM’s welcome offer. Once you have an account, check for daily sports betting promos.

BetMGM First Bet Offer $1,500
About the Author

Chase Kiddy

Read More @chaseakiddy

Chase Kiddy is a writer for BetMGM and co-host of The Lion's Edge, an NFL and college football podcast available on Spotify, Apple Podcasts, and everywhere else. He has also written for a number of print and online outlets, including the Richmond Times-Dispatch, Washington Post, Daily News-Record, and HERO Sports. His first novel, Cave Paintings, is in development.

Chase Kiddy is a writer for BetMGM and co-host of The Lion's Edge, an NFL and college football podcast available on Spotify, Apple Podcasts, and everywhere else. He has also written for a number of print and online outlets, including the Richmond Times-Dispatch, Washington Post, Daily News-Record, and HERO Sports. His first novel, Cave Paintings, is in development.