Heisman Trophy Odds 2023: Caleb Williams Favorite to Repeat

The 2022 college football season may have just ended but it's never too early to size up the 2023 Heisman Trophy odds with a look at the favorites, contenders, and some intriguing long shots. Will Caleb Williams go back-to-back, or will a new superstar captivate the college football world?

Another college football season is officially in the books, and all eyes are now focused on 2023. We may still be eight months away from the start of the new season, but it’s never too early to begin hunting for value in the Heisman Trophy futures odds!

In recent years, there has been an eclectic mix of preseason favorites and double-digit long shots who have ultimately gone on to win the Heisman Trophy. Given the sheer volume of teams and players in college football, the talent pool for the Heisman is much larger than for awards in professional sports leagues. Even players who are considered to be afterthoughts before the start of a season can play their way into the conversation.

Here is our preview of the best college football odds for the 2023 Heisman Trophy, along with a look at some potential picks (odds via our best sportsbooks).

Check out our college football best bets and our 2024 CFP National Championship odds!

Heisman Trophy Odds 2023

Heisman Trophy Best Bets

• Jordan Travis (+1200 via FanDuel)
• Jayden Daniels (+2000 via FanDuel)
• Marvin Harrison Jr. (+5000 via FanDuel)
• Spencer Rattler (+8000 via FanDuel)
• Raheim Sanders (+15000 via FanDuel)

Heisman Trophy Odds 2023: Favorites

Caleb Williams (+400 via FanDuel)

Few bettors are likely surprised to find Williams as a decisive favorite in the early Heisman Trophy odds. In theory, USC’s offense could be even better in Year No. 2 of the Lincoln Riley era. However, there has only ever been one repeat Heisman winner in history. Williams would join Archie Griffin (1974-75) on that short list if he can be recognized as the best player in college football again in 2023.

Drake Maye (+1000 via FanDuel)

Coming off a stellar campaign that saw him earn ACC Freshman of the Year honors, Maye will be looking to garner more national award recognition in 2023. One has to be slightly concerned about how he dropped off down the stretch last season. Then again, unless North Carolina’s defense improves dramatically, Maye will likely have several opportunities to stuff the stat sheet in high-scoring games.

Michael Penix Jr. (+1200 via FanDuel)

Penix could’ve turned pro following the 2022 season but decided to return for a second year at Washington. After finishing second in the country in passing yards last season, Penix figures to be in line for another big year as the quarterback for head coach Kalen DeBoer’s explosive offense. The sub-par defenses in the Pac-12 Conference will only aid Penix's Heisman Trophy candidacy.

Bo Nix (+1600 via Caesars)

The Pac-12 certainly has a phenomenal group of quarterbacks returning for 2023. Much like Penix at Washington, Nix’s decision to return to Oregon for another year was a surprise to some. In reality, Nix revived his career this past season, his first in Eugene, after a tumultuous stint at Auburn. He finished 14th in total passing yards and led the Ducks to finish 12th nationally in scoring offense.

Jordan Travis (+1200 via FanDuel)

Big things are expected in Tallahassee next year given the way Florida State closed out the 2022 campaign. At the center of it all will be dual-threat quarterback Jordan Travis. He accumulated over 3,600 total yards and scored 31 total touchdowns (24 passing, seven rushing). Travis’ Heisman candidacy could get a major boost if the Seminoles are able to deliver on the ACC and national title aspirations that they will carry into the season.

Heisman Trophy Odds 2023: Contenders

Jayden Daniels (+2000 via FanDuel)

Daniels was a big reason why LSU was able to exceed expectations and make it to the SEC Championship Game last year. Although he will have to build rapport with several new receivers due to various NFL draft departures, Daniels’ dual-threat capabilities and improvisation skills will keep him relevant in the Heisman Trophy race.

Joe Milton (+3000 via Caesars)

Arm strength and pure talent have never been the concerns with Milton. Rather, a lack of accuracy has undermined the majority of his college career to date. Perhaps sitting behind Hendon Hooker was just what the doctor ordered as Milton was extremely sharp for Tennessee in the Orange Bowl. A big 2023 season could be on tap for both Milton and the Volunteers.

Dillon Gabriel (+4000 via Caesars)

In his first season at Oklahoma, Gabriel finished second in the Big 12 in passing yards. Unfortunately, any chances of winning the Heisman were ruined by the fact that the Sooners had one of their worst seasons in recent memory. The defense will undoubtedly be better in Year No. 2 under head coach Brent Venables. Gabriel and the OU offense figure to be just as explosive.

Heisman Trophy Odds 2023: Long Shots

Marvin Harrison Jr. (+5000 via FanDuel)

While it’s rare to see a non-quarterback win the Heisman Trophy, Harrison figures to be one of the top bets to do so in 2023. He finished with over 1,200 yards this past season and will be auditioning for the NFL next year. Harrison is the best wide receiver in the country and will be a focal point of what figures to once again be a potent Ohio State offense next season.

Quinshon Judkins (+6000 via FanDuel)

Ole Miss tailback Quinshon Judkins ranked seventh in the country with 1,567 rushing yards this past season. Oh, and by the way, he was only a true freshman! With teammate Zach Evans declaring for the NFL draft, Judkins could be in line for an even larger workload in 2023. The fast-paced nature of the Rebels’ offense only figures to add to his opportunities.

Spencer Rattler (+8000 via FanDuel)

Once upon a time, Rattler was the preseason favorite in the Heisman Trophy futures odds. Fast-forward to 2023 and he is priced as an 80-1 long shot. Rattler is still weighing his future, but another year of college ball at South Carolina only figures to help his lackluster draft stock. After finishing the ‘22 campaign with a flourish, he is worth considering in the futures market.

Raheim Sanders (+15000 via FanDuel)

Operating behind an underrated offensive line, Sanders finished 13th nationally with 1,443 rushing yards this past season. Had he not gotten hurt early on in the Liberty Bowl, he undoubtedly would’ve finished a few spots higher. Sanders will once again be a workhorse back for Arkansas in 2023. At 150-1, “Rocket Sanders” makes for an intriguing Heisman long shot.

Dorian Singer (+20000 via FanDuel)

Those who are looking for an alternative option to Williams within the USC offense might wish to consider receiver Dorian Singer. As a sophomore at Arizona, he was nothing short of spectacular, finishing with over 1,100 yards and six touchdowns. One can only imagine what the uber-talented transfer will be capable of as a part of Riley’s system in 2023.

Heisman Trophy Recent Winners

Heisman Trophy FAQs

Who Won the Heisman Trophy Last Year?

USC Trojans quarterback Caleb Williams won the Heisman Trophy for the 2022 season.

When Will the Heisman Trophy Be Decided?

The 2023 Heisman Ceremony will take place on December 9. Other key dates to know prior to the ceremony itself include November 27 when the Heisman Trophy voting ballots will be distributed and December 4 which will be the voting deadline. The four finalists for the award will be announced on December 4.

Where Will the Heisman Trophy Ceremony Take Place?

Although not officially confirmed at this time, the 2023 Heisman Ceremony is expected to once again take place at Jazz at Lincoln Center’s Appel Room in New York City. The venue has hosted each of the last two Heisman Trophy presentations.

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