Expanded college football playoff field provides more opportunities for bettors

Updated Aug. 22, 2024 8:45 p.m. ET

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LAS VEGAS (AP) — Missouri and Tennessee typically aren't confused for Georgia and Ohio State when it comes to college football's powers.

Those teams still might not be, but they're more in the conversation thanks to the expansion of the College Football Playoff field from four to 12 teams. That has given hope to more teams to be in the running for the national championship.

Jay Kornegay, Westgate executive vice president for race and sports operations, said such schools are attracting noticeable attention as bettors search for value wagers.

“If it was just a four-team playoff, you would just see your usual suspects getting most of the attention and at cheap prices,” Kornegay said. “Now because of the expanded playoffs, some of these other teams have a chance to make the playoffs and possibly make a run. I know that the cream of the crop usually rises in these things, but you never know in a single game what can happen.”

Underscoring his point, eight teams are minus money at BetMGM Sportsbook to make the playoffs, with second-ranked Ohio State at -750 the heaviest favorite. A $100 bet on the Buckeyes would pay $13.33.

The most unusual team at minus money is No. 6 Mississippi at -130. The Rebels never made the four-team postseason field.

Defending national champion and No. 9 Michigan is +140, meaning a $100 wager nets $140. As for the teams Kornegay mentioned, No. 11 Missouri and No. 15 Tennessee are each +180 at BetMGM.

As for winning it all, Georgia is a +300 favorite at BetMGM to take its third title in four years. Ohio State is right behind at +325.

Wide-open Heisman race

Three quarterbacks are co-favorites to capture the Heisman Trophy at Westgate. Georgia's Carson Beck, Texas' Quinn Ewers and Oregon's Dillon Gabriel are each at +800.

Those were the same odds when wagering opened at BetMGM.

Gabriel has since emerged as the favorite at that sportsbook, with 14.8% of the money moving his odds down to +700. Beck is right behind at +750, though Ewers now is at +1,000 even though more tickets and money have gone on him compared to the Georgia QB.

The Heisman has essentially become a quarterback award, and the top 20 favorites play that position. The three most recent winners were quarterbacks and seven of eight. Alabama wide receiver DeVonta Smith in 2020 was the only non-quarterback over that time.

Oklahoma State running back Ollie Gordon, at +6,600, has the shortest odds among players at other positions. Running backs used to dominate the Heisman, but the last one to win the award was Alabama's Derrick Henry in 2015.

Ready for some football?

Week Zero is this Saturday with four games being played.

No. 10 Florida State is the only ranked team in action. The Seminoles face Atlantic Coast Conference rival (for now) Georgia Tech in Dublin.

Florida State is favored by 11 points at Westgate.

“You can tell people all already fired up for football season because of some of the movement we have seen on some of the Week Zero and Week One games,” Kornegay said. "I don't think people are ready for football; people are ready for football. It's the amount of bets that we're taking on some of these early games that aren't the greatest matchups.”

Little love for G5 schools

A Group of Five team is guaranteed at least one playoff spot, but bettors aren’t clamoring to lay money on those schools.

Liberty is the favorite at BetMGM at +375 followed closely by Boise State at +400.

Expectations are even lower for such a school to win the national championship. Boise State has the best odds at +25,000, amazing vacation money if the Broncos came through.

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Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football

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