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College Football Playoff Odds 2024: Georgia, Michigan Favored to Return

Shane Jackson

Last Updated: October 3, 2023 2:57 PM EDT • 8 min 7 sec read.

Head coach Kirby Smart of the Georgia Bulldogs looks on as we break down the latest 2024 CFP odds.
Head coach Kirby Smart of the Georgia Bulldogs looks on prior to the game against the Michigan Wolverines in the Capital One Orange Bowl for the College Football Playoff semifinal game at Hard Rock Stadium in Miami Gardens, Florida. Photo by Michael Reaves /Getty Images via AFP.

Only one team can win the national title, but four programs will reach the College Football Playoff as we track the odds from our best college football betting sites.

Since college football moved to a four-team playoff format during the 2014-15 season, 14 teams have made at least one College Football Playoff appearance. Alabama leads the way with seven trips even after missing out in 2022, with Clemson (six), Ohio State (five), and Oklahoma (four) following across the past nine seasons.

Elite programs typically hold the best chance of reaching the CFP, though TCU and Cincinnati have proven surprise runs are possible over the last two years. Will we get one more Cinderella campaign before the CFP expands to 12 teams in 2024?

Georgia is the betting favorite to reach the College Football Playoff for the third consecutive season following back-to-back championship runs. Michigan and Ohio State boast strong odds of returning to the CFP after making it in 2022 as well.

Here is our look at the 2024 College Football Playoff market (odds via our best sports betting apps).

College Football Playoff odds 2024

(Odds as of Oct. 3)

Team FanDuelbet365
Georgia-190-225
Florida State-140-150
Michigan-125 -125
Texas-110-110
Ohio State+140+150 
Penn State+250+260
Washington+340+350
Oregon+340+350
USC+340+325
Oklahoma+360+350
Alabama+700+700

College Football Playoff betting analysis

This market isn't available at all of our best sports betting sites, so shopping around for value is pretty easy. FanDuel and bet365 are the only shops still offering this market as of Week 6. 

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College Football Playoff odds movement

Alabama has been one of the most significant fallers in this market, going from +100 to +700 in the odds to make the CFP. That puts the Crimson Tide behind 10 other teams after their home loss to Texas.

Speaking of Texas, the Longhorns are trading at -110 to make the CFP after being listed at about +350 prior to their upset victory.

College Football Playoff odds: Favorite

Georgia (-190 via FanDuel)

The Bulldogs rank fifth with just three CFP appearances in program history, but they know how to cash in on their trips. Georgia lost to Alabama during an epic 2017 championship game, but the Bulldogs became the first back-to-back champion in the CFP era over these last two years.

There hasn't been a three-peat since Minnesota did so in the 1930s, but Kirby Smart's Bulldogs are the national championship odds favorites early in the season. The Bulldogs project to be double-digit favorites in all but one game during 2023, meaning they could easily record another undefeated regular season.

This marks the first time the Bulldogs are priced better than -200 to make the CFP all year.

College Football Playoff odds 2024: Contender

Michigan (-125 via FanDuel, bet365)

If Georgia's run ends, it could easily be at the hands of the Michigan Wolverines. Head coach Jim Harbaugh told The Athletic before the season he thinks 20 Michigan players will be selected in the 2024 NFL Draft, which would break Georgia's record of 15.

Even if that might just be a coach hyping up his team, it's clear Michigan boasts enough talent on both sides of the ball. Quarterback J.J. McCarthy needs to take that next step for the Wolverines to be true contenders. They've certainly been in the mix lately while making back-to-back CFP trips.

Similar to Georgia, Michigan faces a favorable slate of games in 2023. This price will be long gone before the Ohio State game if the Wolverines can avoid any sort of misstep prior to that clash.

College Football Playoff odds 2024: Long shot

Alabama (+700 via bet365, FanDuel)

Sure, the Crimson Tide have already logged a home loss, and they lack their usual upside at the quarterback position. But this is Alabama we're talking about, a team that will always get the benefit of the doubt.

No school has ever made the CFP with two losses, but Nick Saban's bunch came very close as the No. 5 squad in 2022. That means the Crimson Tide will be considered as long as they avoid another defeat before the SEC title game.

Alabama is capable of winning enough games to capture the SEC West as currently constructed. There's a reasonable chance we never see Alabama with longer odds to make the CFP, especially once the format expands in 2024.

College Football Playoff odds 2024: Fade

Ohio State (+150 via bet365)

This could end up being a bad call as a team to fade, but we're staying away from Ohio State's price right now. The Buckeyes narrowly defeated Notre Dame on the road in Week 4, but they needed a few coaching blunders to secure the comeback victory.

Still, a matchup with Penn State in October could cause trouble for Ohio State. OSU then faces a trip to Michigan for its regular-season finale. The Buckeyes made the CFP without reaching the Big Ten title game in 2022, but a lot is needed to break right for them.

For now, I'm not comfortable betting on history to repeat itself at this price.

Recent CFP National Championship winners

YearTeamOpening odds
2023Georgia+350
2022Georgia+600
2021Alabama+300
2020LSU+2500
2019Clemson+400
2018Alabama+250
2017Clemson+700
2016Alabama+700
2015Ohio State+4000
2014Florida State+1600

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College football odds pages

CFP National Championship OddsSEC OddsBig 12 Odds
Heisman Trophy OddsBig Ten OddsPac-12 Odds
College Football Playoff OddsMountain West OddsACC Odds

CFP National Championship FAQs

Who won the CFP National Championship last year?

Georgia won the 2023 CFP National Championship by defeating TCU 65-7 in the title game.

The Bulldogs became only the second team to win consecutive titles since the inception of the College Football National Championship Game.

When will the CFP National Championship be decided?

The 2024 CFP National Championship will be decided on Monday, Jan. 8.

Where will the CFP National Championship take place?

For the first time ever, the College Football National Championship Game will take place at NRG Stadium in Houston, Texas. 

Here are our best college football betting sites:

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Written By:
Shane Jackson
After graduating with a journalism degree from the University of Kansas in 2017, Shane Jackson covered college sports for a few years before moving to Las Vegas to pursue a career in sports betting. He created sports betting content for WynnBET and served as a sports gambling content director for Bet Chicago Sports. Shane’s favorite sports to watch and bet on are NFL, college football, college basketball, NBA, WNBA, and golf. Follow Shane on Twitter (@SJacksonBET) to get access to all of his betting analysis.