What the Early Betting Odds Say About Penn State Football in 2024

Some initial lines suggest that the Nittany Lions will push toward 10 wins again and the College Football Playoff.

Penn State Nittany Lions head coach James Franklin leads his team to the field to start the second half against the Michigan State Spartans at Ford Field. / David Reginek-USA TODAY Sports

Penn State has been one the more consistent betting teams in college football over the past few seasons. In 2023, for instance, the Nittany Lions went 9-3 against the spread during the regular season, faltering as a favorite against only Indiana, which was a tough ask to cover 31 points right after losing to Ohio State.

Further, according to Oddsshark, the Nittany Lions are 19-10-1 against the spread in their last 30 games. So Penn State often is a fair bet to cover as a favorite. Which brings us to Penn State football in 2024. The early odds suggest that Penn State is going to be a favorite for much of the season.

DraftKings lists Penn State as a 10-point favorite for its season-opener at West Virginia on Aug. 31. The Nittany Lions also are 4-point road favorites at USC and 6.5-point road favorites at Wisconsin. Of course, Penn State is an early 3-point underdog against the behemoth that will be Ohio State, which visits Beaver Stadium on Nov. 2. Don't expect FOX to give that game to the White Out; it most likely will be a Big Noon Kickoff.

Meanwhile at FanDuel, the Nittany Lions also are 10-point favorites at West Virginia, which is the only game the site lists. Penn State, however, is among the favorites to make the newly expanded 12-team College Football Playoff. The Nittany Lions are -142 at FanDuel to make their first CFP. And, as they did last year, the Nittany Lions sit squarely on the 9.5-win total. FanDuel favors Penn State (at -172) to go over 9.5 wins.

Back at DraftKings, Penn State is -130 to make the College Football Playoff. But the site set the early win total one higher at 10.5. DraftKings doesn't think the Nittany Lions will win 11 games, setting the line at +130 to do that. Penn State is -150 to go under 10.5, according to DraftKings. Further, DraftKings lists Penn State third (at +500) to win the Big Ten, behind Ohio State (+160) and Oregon (+210).

As a refresher, here's a look at Penn State's 2024 schedule. The Nittany Lions could be favored in 11 games, especially if they hold serve early and get to USC undefeated.

RELATED: The Penn State Football 2024 Forecast: Will the Nittany Lions contend for the College Football Playoff?

Penn State 2024 Football Schedule

• Aug. 31: at West Virginia (Noon, FOX)

• Sept. 7: BOWLING GREEN (Noon, Big Ten Network)

• Sept. 14: KENT STATE (TBA)

• Sept. 28: ILLINOIS (3:30 p.m, 4 p.m. or 7:30 p.m.)

• Oct. 5: UCLA (TBA)

• Oct. 12: at USC (TBA)

• Oct. 26: at Wisconsin (Noon, 3:30 p.m., 4 p.m. or 7:30 p.m.)

• Nov. 2: OHIO STATE (TBA)

• Nov. 9: WASHINGTON (TBA)

• Nov. 16: at Purdue (TBA)

• Nov. 23: at Minnesota (TBA)

• Nov. 30: MARYLAND

Game odds refresh periodically and are subject to change.

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AllPennState is the place for Penn State news, opinion and perspective on the SI.com network. Publisher Mark Wogenrich has covered Penn State for more than 20 years, tracking three coaching staffs, three Big Ten titles and a catalog of great stories. Follow him on Twitter @MarkWogenrich.