Indiana’s National Championship victory over Miami on Monday night cemented the Hoosiers as the longest preseason underdogs to win the national title in recent history.
According to SportsOddsHistory, Indiana opened with the longest odds (+10000) of any national champion since at least 2001, the earliest year in their database.
Key Takeaways
- There hasn’t been an MLB, NBA, NHL, or college basketball champion that opened with longer odds than Indiana.
- One bettor won nearly $300,000 thanks to well-placed Indiana futures bets.
- FanDuel has Indiana third in odds to win the 2027 national title behind Ohio State and Notre Dame.
Indiana’s improbable feat came after it opened the year with less than a 1% implied chance to win the College Football Playoff.
The odds looked completely different by the postseason, with BetMGM’s John Ewing sharing they were +275 to win the title in the first round and +130 in the semifinal.
The Hoosiers entered Monday’s matchup as a 7.5-point favorite and at about -310 on the moneyline. After making light work of Alabama, 38-3, and Oregon, 56-22, in the early rounds, the Hoosiers were forced to play until the final seconds in the championship event.
Trailing by six points, Carson Beck marched the Hurricanes to the IU 47-yard line with 0:51 remaining. The next play didn't go as he’d hoped, and he heaved an interception that ended the would-be game-winning drive and allowed the Hoosiers to kneel out the clock.
The 27-21 final score meant that IU finished its season with a flawless 16-0 record.
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Indiana writes itself into history
Indiana’s historic upset immediately ranks among the best in the history of professional and amateur sports.
According to SportsOddsHistory, the only Super Bowl champion with longer opening odds was the 1999 St. Louis Rams (+15000). There isn’t an MLB, NHL, NBA, or college basketball team on record with longer opening odds than IU’s +10000.
"Congratulations to all bettors that backed Indiana to win the National Championship. The Hoosiers winning but not covering was a good outcome in the title game; Indiana was also optimal in the futures market for the sportsbook," said Seamus Magee, Trading Manager, BetMGM. According to Magee, the Hoosiers opened the 2024 season at +100000.
The Hoosiers had only enjoyed one winning season since 2007 until Curt Cignetti signed on ahead of the 2024 season. They also went 3-9 overall and 1-8 in conference play the year before he got to town.
Since then, the Hoosiers made two CFP appearances, won their first Big Ten Championship since 1967, produced their first Heisman Trophy winner (Fernando Mendoza), posted a combined 27-2 record, and won their first National Championship.
Despite proving themselves on the biggest stage in the sport, oddsmakers believe that two teams are better positioned to win next year’s National Championship. Ohio State and Notre Dame are both +650 to win the 2027 title at FanDuel, while Indiana is at +700.
Bettors win big thanks to Indiana
While Leicester City’s 2016 title-winning campaign, which they opened at +50000, might be the largest upset on record, Indiana’s triumph still paid off for bettors.
DraftKings revealed that a bettor won nearly $300,000 on the back of the Hoosiers’ success.
One bettor wins nearly $300,000 if the Indiana Hoosiers win the National Championship...
— DraftKings Sportsbook (@DKSportsbook) January 10, 2026
Cash or let it ride? 🤔 pic.twitter.com/UH00I8xIcz
For one online user, it was as simple as turning a $25 bonus bet into $3,125 in winnings.
YEAH THEY DID pic.twitter.com/UTHFJrz4uy
— MJ3 (@MJ3_MMA) January 20, 2026
Another cashed a $15 parlay with four legs involving Indiana futures bets for more than $5,500 in winnings.
THE ULTIMATE INDIANA PARLAY 🫡
— FanDuel Sportsbook (@FDSportsbook) December 8, 2025
This bettor is a Curt Cignetti Natty away from turning $15 into over $5.5K 😮💨
(via @kendelliott) pic.twitter.com/6pym9piNs9
