Updated National Championship Odds: Oregon Ducks, Texas or Ohio State?

The Oregon Ducks are coming off a perfect regular season and a Big Ten Championship as the College Football Playoff gets ready to kick off this weekend. Are the Ducks the betting favorites to win the national championship? Analyzing the latest odds.

Nov 30, 2024; Eugene, Oregon, USA; Oregon Ducks head coach Dan Lanning runs out with the team before a game against the Washington Huskies at Autzen Stadium. Mandatory Credit: Troy Wayrynen-Imagn Images / Troy Wayrynen-Imagn Images

The Oregon Ducks are the No. 1 team in the country and tied for the best national championship odds. Oregon and Texas both have odds of +360 win the national title. 

The team with the second best odds to win the national championship is Ohio State, with odds of +475. Georgia is fourth at +500 and Penn State is fifth at +600.

First Round Playoff Odds 

Notre Dame's defense walks to the start of a new period during a Notre Dame football practice at Irish Athletic Center on Monday, Dec. 16, 2024, in South Bend. / MICHAEL CLUBB/SOUTH BEND TRIBUNE / USA TODAY NETWORK via Imagn Images

There are four games slated for the first round of the College Football Playoff. Friday night will be Indiana at Notre Dame at 5pm PST. The Fighting Irish are favored by 7 points at home. The over/under is set at 51.5 points. The winner will face the Georgia Bulldogs in Sugar Bowl.

Saturday has three matchups. SMU travels to Penn State at 9 a.m. PT. Penn State is favored by 8.5 points, and the over/under is set at 53.5 points. The winner will take on the Boise State Broncos in the Fiesta Bowl. 

Clemson is at Texas at 1 p.m. PT. Texas is a 12 point home favorite. The over/under is set at 51.5 points. The winner will play the Arizona State Sun Devils in the Peach Bowl. 

Tennessee goes to Ohio State at 5 p.m. PT. The Buckeyes are a 7.5 point home favorite. The over/under is set at 46.5 points. The winner will take on the Oregon Ducks in the Rose Bowl.

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Oregon’s Path in the College Football Playoff

Georgia running back Trevor Etienne (1) breaks away for a big gain during the second half of the SEC championship game against Texas in Atlanta, on Saturday, Dec. 7, 2024. / Joshua L. Jones / USA TODAY NETWORK via Imagn Images

The Oregon Ducks capped off a perfect regular season with a 45-37 win over the Penn State Nittany Lions in the Big Ten championship game. The Ducks enter the college football playoff ranked No. 1 with a 13-0 record. 

The first round of this new 12-team college football playoff will kick off on Friday night when the Indiana Hoosiers take on the Notre Dame Fighting Irish. Oregon along with Georgia, Boise State, and Arizona State all have first round byes due to them being the four highest ranked conference champions. 

There has been a lot of controversy regarding the playoff format. Even though Oregon is the unquestioned No. 1 team in the country with the best resume, they have one of the most difficult paths to get to the national championship. 

Oregon will get a bye in to the quarterfinals, but from there, they will likely face a gauntlet. The Ducks will take on the winner of the first round matchup between Tennessee and Ohio State in the Rose Bowl on January 1st. Tennessee is seeded No. 9 but is ranked as the No. 7 team in the country by the college football playoff committee. Ohio State is seeded No. 8 but is ranked as the No. 6 team in the country by the college football committee. No. 5 Texas then would potentially await the Ducks in the semi-finals.

For Ducks coach Dan Lanning and his team, to be the best, you have to beat the best. Oregon has already beat Ohio State earlier this season and having the quarterfinal at the Rose Bowl would have the Buckeyes or Volunteers traveling across the country while the Ducks prepare in their bye week. 

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