The 2023 college football season may have just gotten fully underway, but it’s never too early to dig into the odds to win this year’s title. Week 1 saw a few major developments, including Florida State’s win over LSU and Colorado’s upset over TCU, and the lines have moved to reflect our new reality. Let’s dive into the college football championship odds to identify the major risers and fallers, including Florida State.
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College Football Championship Odds | Florida State & Colorado
College Football Championship Odds
Odds via DraftKings Sportsbook.
Risers: Florida State, Colorado & Michigan
The market rewarded few teams for their strong Week 1 performances more than the Florida State Seminoles and the Colorado Buffaloes. Florida State scored a statement neutral-site win over the LSU Tigers in blowout fashion on Sunday night, while Colorado took down a ranked TCU Horned Frogs team that just played in a national championship.
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But how much were these teams rewarded for their strong early-season play? Florida State was trading at 20-1 (4.8%) on DraftKings as recently as Sunday afternoon, and their statement win shortened that number to just 12-1 (7.7%). Colorado's line tightened from 200-1 (0.5%) to 100-1 (1%), still leaving them in longshot territory, but that is meaningful movement nonetheless.
Both Florida State and Colorado have Heisman Trophy contenders on the roster. Florida State's quarterback, Jordan Travis, currently owns the third-best odds for the award at 10-1 (9.1%) on DraftKings. Colorado's two-way stud Travis Hunter and quarterback Shedeur Sanders both own odds of 30-1 (3.2%).
The Michigan Wolverines also benefited from some line movement. They were trading at 9-1 (10%) during the preseason but have seen their odds shorten to just 7-1 (12.5%) since. The most likely explanation for that development has less to do with Michigan and more to do with Ohio State, which we'll discuss below.
Fallers: LSU, Ohio State & Georgia
A few teams saw their odds lengthen after Week 1, including three big-name programs. The least surprising of these is the LSU Tigers. Their Week 1 blowout loss as a neutral-site favorite raises serious questions about the roster. The Tigers suffered a similar early-season defeat to FSU last year before surging back, but there's a major difference between losing a game by a single point and losing a game by 21. LSU's odds lengthened from 11-1 (8.3%) on DraftKings to 35-1 (2.8%).
The Ohio State Buckeyes also saw their odds get worse. They had a layup win over the Indiana Hoosiers on tap but managed to struggle in the first half, scraping together just a 20-point win and failing to cover the spread. New quarterback Kyle McCord struggled, completing only 60.6% of his passes for 239 yards, no touchdowns and an interception. Ohio State's odds dipped from 7-1 (12.5%) to 9-1 (10%).
Although the Georgia Bulldogs remain favored to win this year's title, their odds also got longer this weekend. They still scored a blowout win over FCS UT Martin, 48-7, and new quarterback Carson Beck looked serviceable. He completed 67.7% of his passes for 294 yards and a touchdown. Still, the market is likely punishing Georgia for the success of other teams, and their odds lengthened from +220 (31.3%) to +240 (29.4%).
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