College Football

2023 College Football odds: Colorado, Deion Sanders stun TCU; Huge sports betting upset

Updated Sep. 2, 2023 8:42 p.m. ET

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Patrick Everson

FOX Sports Betting Analyst

Now that’s how you start the first full college football Saturday of the season — with an outright upset that makes scores of bettors extremely happy, and perhaps has a few oddsmakers reaching for the Advil.

Right out of the gate, the college football Week 1 odds market got a stunning result. Coach Prime and his Colorado Buffaloes — 21-point road underdogs — knocked off No. 17 TCU 45-42 in a wild shootout in FOX Sports’ first Big Noon Kickoff of the season.

Multiple bookmakers discussed a big boon for Buffaloes backers — and the subsequent sizable setback behind the counter.

Prayers Answered

The entire offseason, there’s been a ton of hype around new Colorado coach Deion Sanders and his completely made-over roster. The Buffaloes have 86 new players, and fortunately, two of them are quarterback Shedeur Sanders — yes, Deion’s son — and two-way standout Travis Hunter.

Sanders threw for a ridiculous 510 yards and four touchdowns, while Hunter had 11 catches for 119 yards on offense and a stunning interception on defense.

RELATED: Bad Beats: TCU moneyline bettors rue late first-half field goal

That and more helped the Buffaloes pull off the outright upset against a TCU team that reached the College Football Playoff title game last season. And the betting masses were absolutely on Coach Prime and the Colorado moneyline.

"When TCU did something good, it was quiet as a communion service," South Point sportsbook director Chris Andrews said. "When Colorado did something good, the crowd at South Point erupted in hallelujahs. They laid the points on TCU and took Colorado on the moneyline."

Colorado Buffaloes vs. No. 17 TCU Horned Frogs highlights

Check out the best highlights from the matchup between the Colorado Buffaloes and the No. 17 TCU Horned Frogs.

Big Moneyline ‘Dog

Colorado was a sizable moneyline ‘dog, generally ranging from +600 to +775. So, while some sportsbooks profited on TCU failing to cover the spread, they gave it all back and more to Buffaloes outright upset bettors.

"It was a horrible result," TwinSpires director of retail sports Zachary Lucas said Saturday afternoon. "We were flooded with Colorado moneyline bets this morning. The Buffaloes ended up being our biggest liability today."

And at some sportsbooks, particularly BetMGM, plenty of bettors took the 21 points with Colorado — a double-whammy for oddsmakers. BetMGM data analyst John Ewing noted pregame Saturday that Colorado was taking more point-spread tickets than any other team and was second in point-spread money in the college football Week 1 odds market.

Added BetMGM Nevada’s Scott Shelton, on action at the operator’s Las Vegas sportsbooks: "Colorado is the most-bet team of the entire day. It’s Colorado by a landslide, as far as tickets go."

Joey Feazel, lead college football trader for Caesars Sports, said Colorado’s upset made bettors’ day. It’s worth pointing out that the Buffs’ Over/Under season win total was just 3.5, and all the sharp bettors were on the Under. Saturday’s result was highly unexpected.

"The Colorado Buffaloes and Coach Prime defied the critics with a monumental win against TCU," Fenzel said. "He used a very unconventional approach this offseason, and it paid dividends today. What a phenomenal win for our Caesars bettors who backed Colorado throughout the summer. We can’t wait to watch Coach Prime in his home opener against Nebraska next week."

Indeed, the line for Colorado’s home opener has tumbled. Caesars Sports currently has Nebraska-Colorado at pick ‘em, while FanDuel Sportsbook is at Nebraska -1.5. Prior to the weekend, the Huskers were in the -7.5/-8.5 range.

Built for the Futures

Colorado didn’t just take a sea of wagers for Saturday’s games. Multiple sportsbooks reported for months heavy action on Colorado national championship odds — at 200/1 (+20000, bet $10 to win $2,000 profit) or more — and the Over on that aforementioned win total of 3.5.

Oh, and the betting public is on Heisman Trophy odds, too.

"The game was a big loser for us," BetMGM senior trader Cameron Drucker said. "And there are floods of bets coming in on Travis Hunter and Shedeur Sanders."

Entering the weekend, Sanders was a +12500 Heisman long shot at BetMGM. Odds are currently off the board at BetMGM, but other books now have the Colorado quarterback as short as +4000.

One savvy BetMGM customer put $1,000 on Sanders +12500. If somehow Sanders gets there, that bet will profit a massive $125,000. Going into the weekend, Sanders was BetMGM’s third-largest liability. That liability will likely grow, though at significantly shorter odds, in the wake of his Week 1 performance.

Two-way ironman Hunter — who was in for 134 plays in the boiling Fort Worth heat on Saturday — was +15000 in Heisman odds entering the weekend. His price will surely get reeled in, as well.

Also, as noted a few days ago on FOX Sports, there were plenty more notable preseason bets on the Buffs, including:

– $12,000 on Colorado moneyline +600 vs. TCU, at Caesars Sports. That bettor already profited $72,000, for an $84,000 total payout.

– $1,000 on Buffaloes +25000 to win the College Football Playoff, at BetMGM. To profit $250,000.

– $4,500 on Buffaloes +10000 to win the Pac-12, at BetMGM. To profit $450,000.

And to think, this is only the first Saturday in the 2023 college football betting market. If it’s anything like the Colorado-TCU game, we’re in for a wildly entertaining ride. 

Oh, BTW: I didn’t have the nerve to take my alma mater Colorado on the moneyline, but I at least easily cashed Buffaloes +21 on the spread. 

I’ll take it, for some #ChilisMoney.

Patrick Everson is a sports betting analyst for FOX Sports and senior reporter for VegasInsider.com. He is a distinguished journalist in the national sports betting space. He’s based in Las Vegas, where he enjoys golfing in 110-degree heat. Follow him on Twitter: @PatrickE_Vegas

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Patrick Everson