Heisman Trophy Odds & Favorites 2024: Cam Ward Closing Gap on Ashton Jeanty

The Heisman Trophy odds continue to be reshuffled following several high-profile games in Week 8.

Among the highlights:

• Boise State's Ashton Jeanty remains the favorite with his odds shortening from +210 to +200 while the Broncos were on bye in Week 8
• Once the Heisman favorite, Cam Ward is climbing back up the board with his odds shortening from +650 to +240 after he kept Miami's College Football Playoff odds alive against Louisville
• Oregon is a college football championship odds favorite thanks to Dillon Gabriel, but the Ducks' QBs odds lengthened from +275 to +400 after a solid showing in a win over Purdue
• While Clemson has quietly moved up the AP Top 25, QB Cade Klubnik has become the fourth-favorite by the Heisman odds (+2000)
• Travis Hunter re-injured his shoulder in Week 8, lengthening his odds drastically from +500 to +3500

Through eight weeks, the top three Heisman favorites at our college football betting sites have become clear, but there is still plenty of season left for an SEC QB to catch them.

Heisman Trophy odds 2024

Heisman Trophy odds from our best sports betting apps; last updated Oct. 20 and subject to change.

Heisman Trophy favorites 2024

Ashton Jeanty (+200)

I've been banging the table for Jeanty for months. He was my best Doak Walker bet at +1200 before the season in my college football predictions and best bets.

And I had him as my Heisman candidate to watch when he was +4000, but now he sits alone atop the oddsboard. It doesn't even seem to matter that he plays for a Group of Five team, especially with Boise State the favorite to earn the G5 CFP spot.

Jeanty is on a Barry Sanders-like pace with 1,248 rushing yards and 18 total touchdowns through just six games - both lead all running backs. He didn't even play in the second half of two of those games.

His rushing yards after contact alone (914) would put him third in the country in yards, and he's first in forced missed tackles (56), per PFF.

For those who stayed up to watch him against Hawaii in Week 7, he rewarded them with two scores and 156 yards after contact. It was his third game of the season with over 200 rushing yards.

Jeanty is the best running back in the country, and I think a month and a half into the season, he's a lock to be a finalist as long as he stays healthy. That said, this price now pays just a $25 profit on a $10 winning bet.

If you're late to backing Jeanty, I think it's worth waiting to see if this price will lengthen after a handful of big games involving Heisman candidates in October and November.

Best odds: +250 via Caesars | Implied probability: 28.57%

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Cam Ward (+240)

Ward went from +2000 to as short as +350 to win the Heisman before the emergence of Jeanty. His odds then lengthened to +650 before shortening to this price ... that should tell you all you need to know about the volatility of this market.

It's been a wild three-game stretch for Ward. The Hurricanes needed to come back from down 10 in the fourth quarter against Virginia Tech, rallied from down 25 to beat Cal, and just beat Louisville 52-45 in a shootout. 

While Miami clearly has its issues as a whole, the Hurricanes remain undefeated thanks to Ward's heroics. It feels like he has a Heisman moment every week at this point.

He's first in the country in passing yards (2,538), first in touchdown passes (24), third in big-time throws (20), and has Miami ranked first in SP+ on offense.

And, unlike Gabriel, Jalen Milroe, and Quinn Ewers, Ward has a far easier schedule in the ACC. The Hurricanes don't play a ranked opponent for the rest of the season.

Backing Ward last week when he was +650 looks like a steal now, but I'd still take him at +260 - which pays a $26 profit on a $10 winning bet - over any of the other QBs. 

Best odds: +260 via DraftKings | Implied probability: 27.78%

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Dillon Gabriel (+400)

Gabriel has started over 50 games at three different schools, but he had the best game of his six-year collegiate career against Ohio State. That performance moved his odds from +1400 to +275.

I hated that price for him, and it's already starting to lengthen again after a solid, but not spectacular performance against Purdue in Week 8.   

The 23-year-old threw for 341 yards with three total touchdowns against what's considered the best defense in the country two weeks ago. But Gabriel's season as a whole has lacked flash and his production isn't near Ward's at this point.

Even with these odds moving to a more reasonable price that pays a $40 profit on a $10 winning bet, I'm still steering clear of Gabriel. Not only will he need to put up better numbers, but he'll need Ward and the SEC QBs to stumble down the stretch. 

Prior to the win over the Buckeyes, Gabriel had been disappointing with three red-zone interceptions in his two previous games and rarely any splashy throws. 

The argument is certainly there that he should be the favorite simply because the Ducks are undefeated and he plays the position this award normally goes to.

But he's made just 11 big-time throws this season and his 84.1% adjusted completion rate is juiced up because his ADOT is only 6.7. I'd have to see Gabriel string more explosive games together before being comfortable backing him.

Best odds: +450 via Caesars | Implied probability: 18.18%

My Heisman Trophy candidate to watch

Travis Hunter (+3500)

Four weeks ago, Hunter was my Heisman candidate to watch at +1800. Then his odd shortened drastically to +300 and it felt inevitable that he'd be in New York City as a finalist for college football's top honor.

However, Hunter exited Colorado's Week 7 loss to Kansas State early with a shoulder injury. He played just 22 snaps on offense and 21 on defense before leaving in the second quarter after catching three passes for 26 yards and making two tackles.

He was cleared to return in Week 8 against Arizona, but once again left early after re-aggravating his shoulder injury. Before leaving, he played 42 snaps on offense and just 10 on defense - he had just 17 yards and two receptions, and one tackle.

But he's still ninth in the country in receptions (51), 19th in receiving yards (604), 17th in receiving touchdowns (six), fourth in coverage stops among cornerbacks (nine), and has allowed just a 44.0 NFL QB rating.

Assuming he doesn't miss an extended period of time, I still think he's one of the best bets to make, especially at this price. It will appeal to voters that he's the only true two-way player in the country, and arguably the most valuable player in the nation as a top-five wide receiver and cornerback. 

And now that a $10 winning bet pays a $350 profit, it might be worth jumping on this price in hopes his unique situation gives him a leg up on the competition. 

Best odds: +3500 via BetMGM | Implied probability: 2.78%

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Shedeur Sanders Heisman Trophy odds

+5000

The presence of Hunter is the biggest reason why Sanders likely won't even be a Heisman finalist. And it doesn't help that Colorado probably won't win more than eight games. 

So, no matter how long these odds get, and regardless of how well Sanders is playing, I'd have a hard time confidently betting on him to win the Heisman. 

Even as the Buffaloes continue to prove doubters wrong and overachieve, it's hard to imagine Sanders ever surpassing Hunter. And this price reflects that because even with Colorado winning and Sanders playing well, the odds haven't seen much movement over the last three weeks.

While he's fifth in the country in big-time throws this season (18) and has logged only four turnover-worthy plays with an adjusted completion rate of 80.7%, Colorado is still just 40th in SP+.

Don't waste your time backing him. Take Hunter if you want to ride with the Buffs. If Sanders somehow does win, a $10 bet pays a $600 profit.

Best odds: +6000 via FanDuel | Implied probability: 1.64%

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How to bet on the Heisman Trophy

Betting on Heisman Trophy odds is pretty straightforward. Start by choosing a reputable sportsbook that offers Heisman futures.

Look at the odds for different players; for example, if Carson Beck is at +400 and Shedeur Sanders is at +800, Beck is more favored to win. Decide how much you want to wager and place your bet. If you put $100 on Beck at +400 and he wins, you’ll get $500 back ($400 profit + $100 stake).

Follow player performances throughout the season to track how your bet is doing.

But why do odds change in future markets? It’s all about performance and perception. If a player excels or underperforms, their odds will adjust. Injuries to the player or competitors can significantly impact their Heisman chances.

The success of the player’s team can also influence their odds. Public betting trends are important too; if many people are betting on a particular player, sportsbooks might change the odds to manage their risk.

Expert analysis and predictions can also sway betting patterns and odds. Understanding these factors can help you make more informed bets and possibly catch some favorable odds shifts.

How to read Heisman Trophy odds

When reading Heisman Trophy odds, the odds are typically displayed in formats like +300 or -150.

Positive odds (e.g., +300) indicate 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) show 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 also reflect the implied probability of a player winning the Heisman Trophy. Lower odds (e.g., +200) suggest a higher chance of winning, while higher odds (e.g., +1000) indicate a lower chance. Sportsbooks adjust these odds based on various factors, including player performance, injuries, team success, and betting patterns.

For example, if Quinn Ewers has +300 odds and Will Howard has +800 odds, Ewers is considered more likely to win. If you bet $100 on Ewers and he wins, you’d get $400 back ($300 profit + $100 stake).

Heisman Trophy odds over time

Odds via DraftKings.

Heisman Trophy past winners

Heisman Trophy winners by position

Heisman Trophy FAQs

Who are the Heisman Trophy favorites?

Boise State's Ashton Jeanty is the consensus Heisman Trophy favorite with odds as short as +200 representing an implied win probability of 33.33%.

Who won the Heisman Trophy last year?

LSU's Jayden Daniels secured the 2023 Heisman Trophy, becoming the 89th winner of the award.

When will the Heisman Trophy be decided?

The 2023 Heisman Ceremony took place on Dec. 9, when Daniels was announced as the award winner after his record-setting season at LSU.

Where will the Heisman Trophy ceremony take place?

The 2023 Heisman Ceremony took place at Jazz at Lincoln Center’s Appel Room in New York City. The venue has hosted each of the last three Heisman Trophy presentations.

College football odds pages

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