With Week 1 of college football less than 60 days away, big bets on futures markets are starting to gain attention.
Key Takeaways
- Three large wagers at BetMGM’s retail sportsbook in Arizona have come in on Texas, Penn State, and Clemson.
- The Nittany Lions are among the top three most-bet teams by handle in the futures market.
- Bettors have placed longshot bets on Arizona State and Colorado.
BetMGM recently released three notable wagers on College Football Playoff winners, all placed by the same bettor this year at the operator’s retail sportsbook at State Farm Stadium in Glendale, Arizona.
The bettor placed a $300,000 bet on Texas to claim the national title with odds of +500, while another $200K was put on Penn State at +750. Both bets win $1.5 million.
The third wager is a $115,000 bet on Clemson (+1,300) to win the CFP with a payout of $1.495 million. BetMGM customers can no longer get odds that long on the Tigers, who have come down to +900 in the sportsbook’s latest market update.
Penn State has moved a tad to +800 while the Longhorns remain tied with Ohio State as +500 favorites to win the national championship at BetMGM.
The big boys
The three notable wagers aren’t the only bets coming in on those teams. Texas has the highest ticket count in the CFP winner market, with 12.1% of all bets and the most handle at 17.3%.
Clemson’s ticket count is at 8.4%, third behind Texas and second-place Ohio State, which has seen 9.5% of the bets in the market. The $200K wager on Penn State has undoubtedly helped the Nittany Lions creep into the top three in handle. They’re getting 11.1% of the money, second most behind only Texas.
The Buckeyes are third with 9.5% of the futures market’s handle. LSU (+1,500) is right behind Ohio State with 7.8% of the money, followed by Week 1 opponent Clemson at 7.5%. Notre Dame (+1,400) has seen 6.6% of the handle. Alabama (+1,500) is getting 6.1% and Georgia (+650) 5.2%.
Longer odds
No other team in the outright winner market is 5% or higher. Florida (+4,000) at 4% and Michigan (+2,200) at 3.9% are the only schools above 3% of the money. Oregon (+850) is getting 3% of the handle but a higher 3.7% of the bets.
One team with long odds and a top 12 ticket count is Arizona State. At +9,000, the Sun Devils, who made the CFP last year, are getting 2.3% of the tickets and 1.8% of the money.
Colorado was a popular longshot in futures markets last year with receiver/defensive back and Heisman Trophy winner Travis Hunter and quarterback Shedeur Sanders on the team. Despite both being gone, the Deion Sanders-led Buffaloes are still seeing some action with odds of +15,000, getting 1.4% of the tickets and 0.8% of the handle.
