College football's 12 playoff teams in 2024, betting lines reveal

New odds from Vegas indicate the 12 teams most likely to qualify for college football's expanded playoff in 2024.

Where things stand on the betting markets looking ahead to the expanded College Football Playoff in 2024. / Joseph Maiorana-USA TODAY Sports

College football is ready to debut its expanded 12-team playoff starting this season, tripling the field from its original four-team format and giving plenty more opportunity for teams to play for the national championship.

With just weeks to go until the 2024 football season kicks off, the betting markets have updated their latest betting lines in expectation for what teams will be contention for the new playoff.

Lines courtesy of FanDuel Sportsbook

12. Missouri

Denny Medley-USA TODAY Sports

Missouri odds: +180.

Mizzou loses rusher Cody Schrader and key defensive personnel, but retains quarterback Brady Cook and wide receivers Luther Burden and Theo Wease, the core of a skilled offense going against a more winnable schedule.

11. Florida State

Melina Myers-USA TODAY Sports

Florida State odds: +160

Still the favorite in the ACC title race, despite major roster losses to the NFL, but Mike Norvell raided the transfer portal for replacements, and found star quarterback DJ Uiagalelei and edge rusher Marvin Jones, Jr., among other blue-chip skill threats.

10. Michigan

Junfu Han / USA TODAY NETWORK

Michigan odds: +150

College football's defending national champions have a ton to replace on the field and on the sideline, as Sherrone Moore succeeds Jim Harbaugh with major decisions to make at quarterback, receiver, and offensive line.

9. LSU

Matt Pendleton-USA TODAY Sports

LSU odds: +125

Brian Kelly brought in Blake Baker from Missouri to revive LSU's sluggish defense while Garrett Nussmeier replaces Heisman quarterback Jayden Daniels. While he doesn't have Daniels' wheels, LSU's new signal caller has the arm to get his receivers deep and strike quickly.

8. Alabama

Gary Cosby Jr.-USA TODAY Sports

Alabama odds: +100

Kalen DeBoer expectedly lost a lot of Nick Saban's players, but he retained enough, too, combined with incoming transfers that will help stabilize the Tide's roster. Jalen Milroe is back under center, and left tackle Kadyn Proctor returned after initially transferring out.

7. Ole Miss

Petre Thomas-USA TODAY Sports

Ole Miss odds: -130

Jaxson Dart returns at quarterback after posting 23 touchdowns a year ago, and the Rebels don't lack for offensive skill threats to put points on the board. Defensively, transfer additions up front like Walter Nolen and Princely Umanmielen are elite acquisitions that will help get to the QB.

6. Penn State

Matthew OHaren-USA TODAY Sports

Penn State odds: -145

Much of an elite defense returns, although under new leadership after Manny Diaz's departure, while Penn State's top rushers are back to help Drew Allar while he finds his deep passing game.

5. Notre Dame

MANDATORY CREDIT GREG SWIERCZ / USA TODAY NETWORK

Notre Dame odds: -165

Not playing in a conference means the Irish can't rank any higher than No. 5 in the new system, but this schedule and the return of a strong passing defense should keep ND in the race all year.

4. Texas

Maria Lysaker-USA TODAY Sports

Texas odds: -200

Texas heads into the SEC at the right time, coming off a Big 12 title and returning quarterback Quinn Ewers, accompanied by strong transfer receivers and edge rusher Trey Moore, although the Longhorns have to rebuild their interior run defense.

3. Oregon

Joe Camporeale-USA TODAY Sports

Oregon odds: -300

Already a contender in the Big Ten in their first season in the conference, the Ducks boast arguably college football's premier receiving corps, acquired veteran quarterback Dillon Gabriel, and are expected to play strong football on both lines of scrimmage again.

2. Georgia

Dale Zanine-USA TODAY Sports

Georgia odds: -600

Returning experience on both sides of the ball makes up for some prominent losses, especially on offense, with quarterback Carson Beck under center again after a strong season. But the Bulldogs' schedule is far tougher, with road games at Alabama, Ole Miss, and Texas.

1. Ohio State

Kyle Robertson/Columbus Dispatch / USA TODAY NETWORK

Ohio State odds: -650

In response to losing three straight games to Michigan, the Buckeyes got aggressive in the transfer portal, adding difference makers on both sides of the ball, including quarterback. And they return vital experience in the front seven and at wide receiver to make a run at the title.

Game odds refresh periodically and are subject to change.

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