Chaos has swept through college football over the past couple of weeks, with several top-ranked teams going down and the latest National Championship odds undergoing a dramatic shakeup.
Georgia lost its No. 1 ranking in the AP Top 25 after falling to Auburn, but the Bulldogs still sit atop the odds board at 19%. Miami now holds the top spot in the AP Poll and remains undefeated after a 52-23 win over Pittsburgh, yet oddsmakers still view Georgia as the team to beat. Previously unbeaten BYU also fell out of the race with a loss to UCF.
Ohio State survived its showdown with Indiana two weeks ago but could be without starting quarterback Julian Sayin for the rest of the season, adding another wrinkle to a suddenly wide-open championship race. Here's a look at the latest college football odds to win the National Championship.
CFP National Championship odds
For help understanding Kalshi probabilities, see our odds calculator.
| Team |  Probability |
|---|---|
 Georgia |
19% |
 Miami |
15% |
 Ohio State |
13% |
 Notre Dame |
12% |
 Indiana |
8% |
 LSU |
7% |
 Texas |
7% |
 Alabama |
5% |
 Ole Miss |
3% |
Percentages courtesy of Kalshi, one of our best prediction market apps.
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Georgia (19%)
The Georgia Bulldogs remain the national championship favorites (19%) despite suffering a stunning upset loss to Auburn as heavy favorites a couple of weeks ago. The defeat snapped Georgia's unbeaten start and halted the momentum built from its 20-17 road victory over Alabama, which had propelled the Bulldogs to No. 1 in the AP Top 25 (now No. 5).
Coming off a bye week, Kirby Smart's squad hosts Florida this weekend looking to get back on track. Quarterback Gunner Stockton continues to lead a balanced offense, while Georgia's defense has shown it can compete with the SEC's best. Despite the setback, the Bulldogs remain the team to beat in the eyes of the market.
CFP National Championship predictions
| Prediction | Odds | Pick date | Units |
|---|---|---|---|
 Oregon |
10% | May 27 | 0.5 |
Dan Lanning's Oregon Ducks are going to break through. It's only a matter of time.
Dante Moore passed up the NFL Draft to return for his senior season, and he'll have Evan Stewart (missed all of last season with a knee injury) and 2025 No. 1 wide receiver recruit Dakorien Moore to throw to.
Trips to USC and Ohio State are the only scary matchups on the schedule, and they'll have chances to boost their resume with home games against Michigan and Washington in the final three weeks of the season.
I project this as an 11-1 season, with that lone loss coming at Ohio State on November 7, but that record and a potential Big Ten title game appearance could be enough for a first-round bye in the CFP.
Pick made by Chris Gregory.
| Prediction | Odds | Pick date | Units |
|---|---|---|---|
| Oregon |
11% | Aug. 26 | 1 |
After predicting every single FBS game ahead of the college football season, Oregon was one of just a handful of Power 4 teams I projected to have a chance at 11+ regular-season wins. That's because they're 11th nationally in returning production (66%) with one of the top QBs in the country.
Dante Moore, who's the best Heisman value on the board among high-profile QBs, was one of only three P4 QBs to put up an adjusted completion percentage of at least 80% (Min. 300 dropbacks), and the only one of those three to have a big-time throw rate better than 6%. He also has one of the deepest pass-catching rooms in the country (Jamari Johnson, Evan Stewart, Dakorien Moore, Jeremiah McClellan, Iverson Hooks).
Dan Lanning's defense is loaded again, too. The Ducks return their entire starting defensive line, led by preseason All-American A'Mauri Washington.
Oregon should be priced the same as Notre Dame and Ohio State, and so I'll happily buy them at a slight discount.
Pick made by Rob Paul.
Team to watch
Texas Tech (4%)
Among the teams with a probability below 8%, Texas Tech is by far the most interesting. The Red Raiders are the most talented team in the Big 12, and billionaire booster Cody Campbell once again helped fund a top transfer portal class.
While the Brendan Sorsby saga hung over Texas Tech for months, they don't need him to make a run to the College Football Playoff. Will Hammond showed plenty of promise off the bench last year, and he's healthy after last year's torn ACL. Joey Maguire also added former Florida State QB Thomas Castellanos as insurance behind Hammond.
But the reason Tech is the team to watch is because of its defense. It reloaded in the front seven with major portal additions like Mateen Ibirogba, Adam Trick, and Austin Romaine. It also returns stars Ben Roberts and Brice Pollock.
With a schedule that should lead to an 11+ win regular season, I think Tech's price will rise rapidly.
Recent College Football National Championship winners
| Year | Winner | Odds |
|---|---|---|
| 2025 | Indiana |
+10000 |
| 2024 | Ohio State |
+325 |
| 2023 |  Michigan |
+800 |
| 2022 | Georgia |
+350 |
| 2021 | Georgia |
+600 |
| 2020 | Alabama |
+300 |
| 2019 | LSU |
+2500 |
| 2018 |  Clemson |
+400 |
| 2017 | Alabama |
+250 |
| 2016 | Clemson |
+700 |
| 2015 | Alabama |
+700 |
College Football National Championship odds via Sports Odds History.
College Football National Championship Odds FAQs
Who is the College Football National Championship odds favorite?
Georgia is the favorite, according to the College Football National Championship odds. The Bulldogs have a 19% probability of winning the CFP National Championship.
When and where is the College Football National Championship?
The College Football National Championship is at 7:30 p.m. ET on Monday, Jan. 25, 2027, at Allegiant Stadium in Las Vegas.
Who won the College Football National Championship last year?
Indiana won its first College Football National Championship last year. The Hoosiers defeated Miami, 27-21, to complete a 16-0 season.
How to watch the College Football National Championship?
The College Football National Championship will be on ABC/ESPN. The other College Football Playoff games leading up to it will be on ABC/ESPN and TNT.
Odds are correct at the time of publishing and are subject to change.
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