College Football Playoff Odds: 12 Teams Will Cash Tickets In 2024

I love betting college football futures every summer.

The obvious markets that experienced NCAA handicappers flock to are the college football national championship odds and the expansive college football win totals, which offer over/unders for every team in FBS.

But in recent years, the College Football Playoff odds market has become arguably the most interesting market of all.

That’s especially true in 2024, where 12 teams will successfully cash futures tickets in this market. 

College Football Playoff Odds 2024

College Football Playoff Predictions

One reason I’m fascinated by the current state of the College Football Playoff odds market is that it seems like many of the teams should be juiced quite a bit more than they currently are.

My suspicion is that the market is not fully accounting for the implications of a structural expansion from four playoff bids to 12. 

Let’s look at a team like Penn State. The Nittany Lions have never made the CFP since it was installed in 2014. However, over the past eight seasons, PSU has landed a final ranking between No. 5 and No. 12 in six of the last eight seasons. They are a textbook example of a second-level team that the new playoff structure will benefit.

In 2014, Penn State will enjoy the added benefit of a Big Ten that has eliminated its divisional format. The Nittany Lions are no longer stuck looking up the Big Ten East standings at Michigan and Ohio State, forced into annual contests with them.

In 2024, Penn State should retain a strong defense and a good overall team. It will play key road games at West Virginia, USC, and Wisconsin, while hosting Washington and Ohio State, among others.

Another routine 10-win season should put Penn State right back in that top 12 zone, which means Penn State will be in position for a playoff berth. Given the fundamentals, doesn’t the current playoff price of Penn State -130 feel a little light?

There are loads of angles on this market beyond Happy Valley. So if you buy into the idea that this market is systemically underpriced, there are few better sports betting markets to put your money this summer.