Updated 2023-24 CFP National Championship Odds Released: Georgia Bulldogs Remain Favorites to Three-Peat

Jan 9, 2023; Inglewood, CA, USA; Georgia Bulldogs head coach Kirby Smart runs off the field after winning the CFP national championship game against the TCU Horned Frogs at SoFi Stadium. Mandatory Credit: Kirby Lee-USA TODAY Sports

The latest national championship odds for the 2023-24 college football season have been released, and the Georgia Bulldogs are the clear favorites to win it all for the third consecutive year. As the two-time defending champions, the Bulldogs have +220 odds to three-peat, according to leading sportsbooks. Let’s take a closer look at the updated odds and provide you with our betting analysis.

Updated 2023-24 CFP National Championship Odds

• Georgia +220
• Alabama +600
• Ohio State +700
• Michigan +850
• LSU +1200
• USC +1600
• Clemson +1600
• Penn State +2000
• Florida State +2500
• Texas +2500
• Tennessee +3000
• Notre Dame +3000
• Washington +4000
• Oregon +4000
• Texas A&M +6000
• Utah +6000
• Oklahoma +6500
• Wisconsin +7000
• Mississippi +10000
• North Carolina +12000

Odds as of August 21, 2023, at Bovada Sportsbook.

The Georgia Bulldogs have opened as heavy favorites to win the national championship in the 2023 season. Not much has changed in the months leading up to the season, as their odds have actually increased to +200, implying a 31.25% chance of winning. Despite losing their veteran quarterback Stetson Bennett, the Bulldogs have a talented roster with key players returning in their receiving and running back corps, as well as star tight end Brock Bowers. There are concerns about their front four on defense, but oddsmakers still believe in Georgia’s chances.

Another team with rising national championship odds is the LSU Tigers. Under new head coach Brian Kelly, the Tigers are now ranked fifth in the AP preseason Top 25 poll and have the fifth-best odds to win it all. LSU’s offense boasts plenty of returning production, including their dual-threat quarterback Jayden Daniels and top receiver Malik Neighbours. However, their defense, particularly the secondary, has some question marks that need to be addressed in order to compete with elite offenses.

Our prediction for the national championship goes beyond the favorites, as we believe the Texas Longhorns offer great value. With 10 returning offensive starters, including quarterback Quinn Ewers and wide receiver Xavier Worthy, as well as a stable offensive line, Texas has what it takes to contend for the title. While the phrase “Texas is back” has been a joke in recent years, head coach Steve Sarkisian has been building a talented roster in Austin and the Longhorns have a favorable schedule in the Big 12.

As the college football season approaches, these odds are sure to change based on team performances and other factors. Be sure to check out the available sports betting sites to wager on the national champion winner and stay updated with the latest odds throughout the season.