College football 2023: Georgia, Alabama top updated national championship odds

SI Sportsbook has updated the latest odds for the 2023 College Football Playoff national championship race. Who can challenge Georgia this season?

Georgia is the reigning back-to-back national champion of college football and looking at the current playoff odds, it looks like the Bulldogs are in prime position to pull off the rare three-peat, something we haven't seen officially since the 1930s.

SI Sportsbook has updated its latest national championship odds and it's a pair of SEC powerhouses that currently have the lead on the big board, followed by the two biggest names in the Big Ten title race this season.

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College football national championship odds for 2023 season

According to SI Sportsbook

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In the mix

Oklahoma (+6600): Brent Venables steps into Year 2 with a mandate to improve a Sooners defense that was completely out of sorts, but which should get better thanks to a solid transfer portal class coming in, while getting the most out of some important returning skill players on offense including quarterback Dillon Gabriel.

Texas A&M (+5000): The Aggies were arguably college football's biggest disappointment last year, winning just two SEC games after signing one of the greatest recruiting classes in modern history. Now, on the other side of a transfer portal exodus, A&M brings on Bobby Petrino to call plays on offense.

Tennessee (+3000): College football's top-ranked offense should take a step back after losing key playmakers, but Josh Heupel has enough personnel and the playbook to stay in the SEC East convo. But only if he and his staff can improve the play of the Vols' secondary, one of the nation's worst a year ago.

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Penn State (+2500): One of the Big Ten's most experienced defenses returns in addition to a very strong stable of tailbacks in support of 5-star quarterback Drew Allar, who steps into the starting role for the first time. Two losses to Ohio State and Michigan held this team back last season, but James Franklin may have the pieces in place to avenge at least one of them and potentially move into playoff contention.

Notre Dame (+2500): One of college football's best offensive lines will settle in to protect one of the nation's most productive and experienced quarterbacks as Sam Hartman, the ACC's all-time leader in touchdown passes, steps in as a veteran transfer. He also has a quality stable of running backs to work with, but how far along are ND's receivers, especially with big games against Ohio State and USC.

Texas (+2500): Quinn Ewers should stave off Arch Manning in the Longhorns' QB room and with a year's experience behind him already has a rapport with what should one of the better WR rotations in the Big 12, plus a more cohesive, skilled offensive line in what will be the school's last go-round before joining the SEC.

Outside looking in

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Clemson (+1800): A lot of talent is leaving for the NFL, especially in the defensive front seven, and there's still a lack of game-breaking talent in the wide receiver corps, but the addition of offensive coordinator Garrett Riley from TCU was one of the best moves of the offseason, and should be a home-run for second-year quarterback Cade Klubnik and a talented rushing attack led by Will Shipley.

Florida State (+1800): The preseason pick from a lot of analysts out of the ACC brings back a ton of production including quarterback Jordan Travis, the Seminoles' already-productive backfield, and edge rusher Jared Verse, who said no to the NFL Draft to get another year on campus. Key transfers like tight end Jaheim Bell and cornerback Deuce Cypress are vital additions to a team that is trending up this spring.

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USC (+1400): Heisman Trophy quarterback Caleb Williams is back to lead what should be another highlight reel Trojans offense, a unit that got even better with the addition of transfer receiver Dorian Singer. But the big question mark remains a defense that kept too many games close a year ago and finally cost the team in the Pac-12 title game, when a CFP bid was on the line, and again in the Cotton Bowl. Any repeat of what we saw on that side of the ball, and USC won't be a contender.

LSU (+1400): The surprise SEC West champions return the bulk of their roster from last season, including its offensive line, quarterback and leading rusher in Jayden Daniels, its tailback room, real promise at receiver, and two of college football's best front seven pieces in edge rusher Maason Smith and linebacker Harold Perkins. This is the moment Brian Kelly has to prove last year wasn't a fluke and he belongs in the SEC.

Cream of the crop

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Michigan (+1000): The two-time defending Big Ten champs and College Football Playoff semifinalists return star running backs Blake Corum and Donovan Edwards, have dynamic quarterback J.J. McCarthy ready to take a step forward, and one of the nation's best offensive line units, plus a solid transfer class especially in the front seven.

Ohio State (+600): Maybe a surprising position for the Buckeyes to be ahead of the team that beat them twice in a row, especially as they have to replace Heisman finalist quarterback C.J. Stroud. But OSU also returns some of college football's best skill players, especially at wide receiver with Marvin Harrison, Jr. and Emeka Egbuka back and a stable of powerful, agile running backs.

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Alabama (+600): Two close losses a year ago kept the Crimson Tide out of the College Football Playoff for just the second time ever and now Nick Saban has to replace some of the program's defining players. Big decisions are still to be made at quarterback and on defense but with a core of talent at running back and receiver plus in the secondary should keep Bama in the thick of the SEC title hunt.

Georgia (+225): College football's two-time defending champs are the favorites to make it three straight with returning skill on both sides of the ball including Brock Bowers and Ladd McConkey, plus the addition of two key transfer receivers in RaRa Thomas and Dominic Lovett. But the Bulldogs have to solidify replacements for Stetson Bennett at quarterback and Jalen Carter at defensive tackle.

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