College Football Playoff Odds 2024-25: Penn State, Texas Projected First-Round Big Winners
The inaugural 12-team field is set, and there hasn't been much movement on the College Football Playoff odds market during the days since the bracket's release.
Hosts Notre Dame, Ohio State, Penn State, and Texas are all favored by more than a touchdown against their respective opponents. The Longhorns, who welcome the Clemson Tigers, are the largest favorites of the bunch with a double-digit spread in their favor.
The Oregon Ducks (+350) are the national title favorites heading into the first round. They're one of four teams — along with Georgia, Boise State, and Arizona State — that earned a bye as conference champions. As such, the Ducks and Bulldogs are among the safest plays for your College Football Playoff bracket predictions.
College Football Playoff odds 2024-25
- Notre Dame, Ohio State, Penn State, and Texas are the first-round favorites by the College Football Playoff odds at our college football betting sites
- Oregon, Texas, Georgia, and Ohio State are the college football championship odds favorites
- Boise State earned the No. 3 seed in the CFP rankings behind the play of Heisman Trophy odds contender Ashton Jeanty, despite being the lone Group of Five team in the playoff d
- Despite the Fighting Irish being ranked No. 3 in the AP Top 25, Notre Dame, the No. 7 seed, is unable to earn a bye because of its status as an independent
College Football Playoff first-round game odds
Indiana vs. Notre Dame odds
- Playoff matchup: No. 10 Indiana vs. No. 7 Notre Dame
- Conference matchup: Big Ten vs. Independent
- When: Friday, Dec. 20
- Kickoff: 8 p.m. ET
- How to watch: ABC/ESPN
- Location: Notre Dame Stadium (Notre Dame, Ind.)
- Projected score: Notre Dame 27 - Indiana 23
- NFL draft prospect to watch: Xavier Watts, SAF, Notre Dame
SMU vs. Penn State odds
- Playoff matchup: No 11 SMU vs. No. 6 Penn State
- Conference matchup: ACC vs. Big Ten
- When: Saturday, Dec. 21
- Kickoff: Noon ET
- How to watch: TNT/MAX
- Location: Beaver Stadium (University Park, Pa.)
- Projected score: Penn State 26 - SMU 25
- NFL draft prospect to watch: Abdul Carter, EDGE, Penn State
Clemson vs. Texas odds
- Playoff matchup: No. 12 Clemson vs. No. 5 Texas
- Conference matchup: ACC vs. SEC
- When: Saturday, Dec. 21
- Kickoff: 4 p.m. ET
- How to watch: TNT/MAX
- Location: DKR-Texas Memorial Stadium (Austin, Texas)
- Projected score: Texas 29 - Clemson 19
- NFL draft prospect to watch: Cameron Williams, OT, Texas
Tennessee vs. Ohio State odds
- Playoff matchup: No. 9 Tennessee vs. No. 8 Ohio State
- Conference matchup: SEC vs. Big Ten
- When: Saturday, Dec. 21
- Kickoff: 8 p.m. ET
- How to watch: ABC/ESPN
- Location: Ohio Stadium (Columbus, Ohio)
- Projected score: Ohio State 23 - Tennessee 17
- NFL draft prospect to watch: James Pearce Jr., EDGE, Tennessee
College Football Playoff Quarterfinal: Fiesta Bowl odds
- Playoff matchup: No. 11 SMU/No. 6 Penn State vs. No. 3 Boise State
- Conference matchup: TBD vs. Mountain West
- When: Tuesday, Dec. 31
- Kickoff: 7:30 p.m. ET
- How to watch: ESPN
- Location: State Farm Stadium (Glendale, Ariz.)
College Football Playoff Quarterfinal: Peach Bowl odds
- Playoff matchup: No. 12 Clemson/No. 5 Texas vs. No. 4 Arizona State
- Conference matchup: TBD vs. Big 12
- When: Wednesday, Jan. 1
- Kickoff: 1 p.m. ET
- How to watch: ESPN
- Location: Mercedes-Benz Stadium (Atlanta)
College Football Playoff Quarterfinal: Rose Bowl Game odds
- Playoff matchup: No. 9 Tennessee/No. 8 Ohio State vs. No. 1 Oregon
- Conference matchup: TBD vs. Big Ten
- When: Wednesday, Jan. 1
- Kickoff: 5 p.m. ET
- How to watch: ESPN
- Location: Rose Bowl Stadium (Pasadena, Calif.)
College Football Playoff Quarterfinal: Sugar Bowl odds
- Playoff matchup: No. 10 Indiana/No. 7 Notre Dame vs. No. 2 Georgia
- Conference matchup: TBD vs. SEC
- When: Wednesday, Jan. 1
- Kickoff: 8:45 p.m. ET
- How to watch: ESPN
- Location: Caesars Superdome (New Orleans)
College Football Playoff Semifinal: Orange Bowl odds
- Playoff matchup: TBD
- Conference matchup: TBD
- When: Thursday, Jan. 9
- Kickoff: 7:30 p.m. ET
- How to watch: ESPN
- Location: Hard Rock Stadium (Miami)
College Football Playoff Semifinal: Cotton Bowl odds
- Playoff matchup: TBD
- Conference matchup: TBD
- When: Friday, Jan. 10
- Kickoff: 7:30 p.m. ET
- How to watch: ESPN
- Location: AT&T Stadium (Arlington, Texas)
College Football Playoff National Championship odds
- Championship matchup: TBD
- Conference matchup: TBD
- When: Monday, Jan. 20
- Kickoff: 7:30 p.m. ET
- How to watch: ESPN
- Location: Mercedes-Benz Stadium (Atlanta)
Final College Football Playoff seeding
Seeding based on final the College Football Playoff rankings, which released on Sunday, Dec. 8.
| Seed | Team | Record | Selection |
|---|---|---|---|
| 1 | Oregon | 13-0 | Big Ten Champion |
| 2 | Georgia | 11-2 | SEC Champion |
| 3 | Boise State | 12-1 | MWC Champion |
| 4 | Arizona State | 11-2 | Big 12 Champion |
| 5 | Texas | 11-2 | At-large |
| 6 | Penn State | 11-2 | At-large |
| 7 | Notre Dame | 11-1 | At-large |
| 8 | Ohio State | 10-2 | At-large |
| 9 | Tennessee | 10-2 | At-large |
| 10 | Indiana | 11-1 | At-large |
| 11 | SMU | 11-2 | At-large |
| 12 | Clemson | 10-3 | ACC Champion |
College Football Playoff first-round matchups for the CFP
| Matchup | Date | Location |
|---|---|---|
| No. 10 Indiana vs. No. 7 Notre Dame | Friday, Dec. 20 (8 p.m. ET) | Notre Dame Stadium (Notre Dame, Ind.) |
| No. 11 SMU vs. No. 6 Penn State | Saturday, Dec. 21 (noon ET) | Beaver Stadium (University Park, Pa.) |
| No. 12 Clemson vs. No. 5 Texas | Saturday, Dec. 21 (4 p.m. ET) | DKR-Texas Memorial Stadium (Austin, Texas) |
| No. 9 Tennessee vs. No. 8 Ohio State | Saturday, Dec. 21 (8 p.m. ET) | Ohio Stadium (Columbus, Ohio) |
College Football Playoff bracket key dates
| Round | Date | Matchup | Location | How to watch |
|---|---|---|---|---|
| First round | Friday, Dec. 20 (8 p.m. ET) | No. 10 Indiana vs. No. 7 Notre Dame | Notre Dame Stadium (Notre Dame, Ind.) | ABC/ESPN |
| First round | Saturday, Dec. 21 (noon ET) | No. 11 SMU vs. No. 6 Penn State | Beaver Stadium (University Park, Pa.) | TNT/MAX |
| First round | Saturday, Dec. 21 (4 p.m. ET) | No. 12 Clemson vs. No. 5 Texas | DKR-Texas Memorial Stadium (Austin, Texas) | TNT/MAX |
| First round | Saturday, Dec. 21 (8 p.m. ET) | No. 9 Tennessee vs. No. 8 Ohio State | Ohio Stadium (Columbus, Ohio) | ABC/ESPN |
| Quarterfinals | Tuesday, Dec. 31 (7:30 p.m. ET) | No. 6 Penn State/No. 11 SMU vs. No. 3 Boise State | Fiesta Bowl (State Farm Stadium in Glendale, Ariz.) | ESPN |
| Quarterfinals | Wednesday, Jan. 1 (1 p.m. ET) | No. 5 Texas/No. 12 Clemson vs. No. 4 Arizona State | Peach Bowl (Mercedes-Benz Stadium in Atlanta) | ESPN |
| Quarterfinals | Wednesday, Jan. 1 (5 p.m. ET) | No. 8 Ohio State/No.9 Tennessee vs. No. 1 Oregon | Rose Bowl Game (Rose Bowl in Pasadena, Calif.) | ESPN |
| Quarterfinals | Wednesday, Jan. 1 (8:45 p.m. ET) | No. 7 Notre Dame/No. 10 Indiana vs. No. 2 Georgia | Sugar Bowl (Caesars Superdome in New Orleans, La.) | ESPN |
| Semifinal 1 | Thursday, Jan. 9 (7:30 p.m. ET) | TBD | Orange Bowl (Hard Rock Stadium in Miami Gardens, Fla.) | ESPN |
| Semifinal 2 | Friday, Jan. 10 (7:30 p.m. ET) | TBD | Cotton Bowl (AT&T Stadium in Arlington, Tex.) | ESPN |
| CFP National Championship Game | Monday, Jan. 20 (7:30 p.m. ET) | TBD | Mercedes-Benz Stadium (Atlanta) | ESPN |
College Football Playoff odds over time
Odds via DraftKings
| Team | Opening odds (April 29) | Oct. 7 | Dec. 4 |
|---|---|---|---|
| Georgia | -600 | -450 | OFF |
| Ohio State | -600 | -1600 | OFF |
| Texas | -250 | -1000 | OFF |
| Oregon | -200 | -700 | OFF |
| Notre Dame | -165 | -150 | OFF |
| Penn State | -130 | -300 | OFF |
| Ole Miss | -130 | -120 | OFF |
| Michigan | -120 | +4000 | OFF |
| LSU | -110 | +220 | OFF |
| Alabama | +100 | -600 | -370 |
| Florida State | +140 | +50000 | OFF |
| Tennessee | +170 | +100 | OFF |
| Missouri | +175 | +500 | OFF |
| Clemson | +190 | -110 | OFF |
| Miami | +220 | -300 | OFF |
| Utah | +220 | +220 | OFF |
| Texas A&M | +220 | +150 | OFF |
| Kansas State | +250 | +200 | OFF |
| USC | +400 | +1500 | OFF |
| Liberty | +400 | +500 | OFF |
CFP National Championship odds history
| Year | Team | Preseason odds |
|---|---|---|
| 2024 | Michigan | +800 |
| 2023 | Georgia | +350 |
| 2022 | Georgia | +600 |
| 2021 | Alabama | +300 |
| 2020 | LSU | +2500 |
| 2019 | Clemson | +400 |
| 2018 | Alabama | +250 |
| 2017 | Clemson | +700 |
| 2016 | Alabama | +700 |
| 2015 | Ohio State | +4000 |
How to bet on the College Football Playoff
Betting on College Football Playoff odds is pretty straightforward. Check out the odds for different teams; for example, if Alabama is at +300 and Ohio State is at +600, Alabama is favored to make it to the playoffs.
Decide how much you want to wager and place your bet. If you bet $100 on Alabama at +300 and it makes it, you’ll get $400 back ($300 profit + $100 stake).
Keep an eye on the teams' performances throughout the season to see how your bet is shaping up.
Remember, with future markets, odds can see plenty of movement. It's all about performance and perception.
If a team performs better or worse than expected, its odds will change. Injuries to key players can significantly impact a team's chances and, consequently, their odds. New player acquisitions or losses, coaching changes, and team dynamics can also affect odds. Public betting trends matter too; if a lot of people are betting on one team, sportsbooks might adjust the odds to manage their risk.
Expert analysis and predictions can also sway public opinion and betting patterns. Understanding these factors helps you make smarter bets and potentially catch some favorable odds shifts.
How to read College Football Playoff odds
Odds are typically shown in formats like +300 or -150. Positive odds (e.g., +300) show how much profit you'd make on a $100 bet.
For instance, a $100 bet at +300 odds would win you $300, plus your original $100 stake, totaling $400. Negative odds (e.g., -150) indicate how much you need to bet to win $100. So, a $150 bet at -150 odds would win you $100, plus your $150 stake, totaling $250.
These odds reflect the implied probability of a team making the playoffs. Lower odds (e.g., +200) suggest a higher likelihood, while higher odds (e.g., +1000) indicate a lower likelihood. Sportsbooks adjust these odds based on various factors like team performance, injuries, coaching changes, and public betting patterns.
For example, if Alabama has +300 odds and Ohio State has +600 odds, Alabama is considered more likely to make the playoffs. If you bet $100 on Alabama and they make it, you’d get $400 back ($300 profit + $100 stake).
College Football Playoff FAQs
Who is the CFP National Championship favorite?
Oregon is the favorite by the 2025 college football championship odds. The Ducks' shortest odds (+350) imply a 22.22% probability they'll win it all, according to our odds calculator.
Who are the top four in the College Football Playoff?
The top four seeds, and first-round byes, go to the highest-ranked conference champions. Those byes were earned by Oregon (Big Ten), Georgia (SEC), Boise State (Mountain West), and Arizona State (Big 12).
How many teams make the College Football Playoff?
Previously only four teams were selected for the College Football Playoff, but this season the playoff will expand to 12 teams. The top five ranked conference champions will be automatic qualifiers for the playoff along with seven at-large teams, decided by the College Football Playoff selection committee.
The top four conference champions will receive a first-round bye in the playoff.
Who made the College Football Playoff last year?
Michigan, Washington, Texas, and Alabama were chosen for the College Football Playoff by the selection committee last season.
When does the College Football Playoff start?
The 2025 College Football Playoff starts with the first round on Dec. 20 and 21, with games being played at the campus of the higher seed. The quarterfinals will then be played across the Fiesta, Peach, Rose, and Sugar Bowl on Dec. 31 and Jan. 1.
The semifinals take place Jan. 9 and 10 at the Orange and Cotton Bowl before the CFP National Championship game on Jan. 20 at Mercedes-Benz Stadium in Atlanta, Ga.
College football odds pages
| CFP National Championship Odds | SEC Odds | Big 12 Odds | Bowl Season Odds & Info |
| Heisman Trophy Odds | Big Ten Odds | Pac-12 Odds | |
| College Football Playoff Odds | Mountain West Odds | ACC Odds |
Here are our best college football betting sites:
- Caesars Promo Code: SBRBONUSDYW | Read our Caesars Review
- BetMGM Bonus Code: SBRBONUS | Read our BetMGM Review
- bet365 Bonus Code: SBRBONUS | Read our bet365 Review
- FanDuel Promo Code | Read our FanDuel Review
- DraftKings Promo Code | Read our DraftKings Review
(21+. Gambling Problem? Call 1-800-GAMBLER)
* Bonuses not applicable in Ontario.
Not intended for use in MA.
Each betting site featured on SBR has been meticulously researched and selected by our team of experts. If you sign up through our links, we may get a commission.
Related pages
- Best Sports Betting Sites | Best Sportsbook Promos (U.S. only)
Related Articles
