Pac-12 Football Championship Odds: Trojans Favored, Colorado Falls Out

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A Heisman Trophy-winning campaign from Caleb Williams and one of the most prolific offenses in the nation wasn't enough for USC to win the Pac-12 last season, but can they get the job done in 2023? We break down the Pac-12 conference title odds below.

Last Updated: Sep 25, 2023 12:01 PM ET Read Time: 4 min
Caleb Williams USC Trojans Pac-12 championship odds
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Despite continuing to be the premier destination in the conference, the USC Trojans have gone five years without a Pac-12 title and fell short last season in a title-game loss to Utah. 

However, with Lincoln Riley still calling plays and Heisman Trophy winner Caleb Williams back under center, college football odds are once again bullish on the Trojans in 2023.

We break down the top dogs in our Pac-12 conference title odds below. 

Odds to win the Pac-12 championship

Player DraftKings FanDuel bet365 Caesars
USC USC Trojans +240 +230 +225 +210
USC Washington Huskies +250 +270 +275 +250
USC Oregon Ducks +260 +270 +275 +260
USC Utah Utes +600 +600 +700 +550
USC Washington State Cougars +1,600 +1,500 +1,600 +1,000
USC Oregon State Beavers +1,800 +1,500 +1,400 +1,600
UCLA UCLA Bruins +2,200 +2,500 +2,500 +3,000

Odds as of Sept. 25, 2023.

Favorites to win the Pac-12 championship

USC Trojans (+230)

Despite being the favorites once again in 2023, the USC Trojans have some work to do should they want to get over the hump. 

They have maybe the most electric offense in the country (nation-leading 55 points per game through Week 4), but if the defense is as giving as it was a year ago (81st in scoring defense in 2022), it may not matter.

Caleb Williams will make USC a popular bet this season, but don't get it twisted... this conference is wide open. 

Oregon Ducks (+275)

The Oregon Ducks are one of the teams looking to play spoiler this season and with Bo Nix returning for what feels like a ninth season, the offense is a well-oiled machine. 

They get the benefit of playing USC at home this season but Nix will still have to go toe-to-toe with Williams — potentially twice — should they want to come away with a conference title in 2023.

The Ducks moved to 4-0 after spanking No. 19 Colorado at home and go on the road to play Stanford in Week 5.

Washington Huskies (+275)

Speaking of guys who'll have to go toe-to-toe with Williams, Washington Huskies QB Michael Penix Jr. is in line for another incredible season.

The senior threw for 4,641 yards and 31 scores last season and like Nix, could contend for the Heisman Trophy this season if things go his way.

The Huskies ranked second in total offense and seventh in scoring offense last season with Penix under center and you should expect more of the same in 2023. 

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Recent Pac-12 conference champions

Season Big Ten Champion Runner-Up
2022 Utah Utes USC Trojans
2021 Utah Utes Oregon Ducks
2020 Oregon Ducks USC Trojans
2019 Oregon Ducks USC Trojans
2018 Washington Huskies Utah Utes
2017 USC Trojans Stanford Cardinal
2016 Washington Huskies Colorado Buffaloes
2015 Stanford Cardinal USC Trojans

Understanding college football futures odds

Sportsbooks release college football futures odds pretty much as soon as the clock hits zero in the previous season's National Championship Game. There are many ways to wager on NCAA football futures but we'll use picking the outright winner of the National Championship — definitely the most popular — as our example.

During the offseason and preseason, you'll be able to get a plus-money price on basically any team in the nation as there is so much uncertainty around what will happen next year.

NCAA football championship odds will usually look like this:

  • Alabama Crimson Tide +125

This means that on a $100 bet, you'll stand to win $125 if the Crimson Tide win the national title. If it's close to the end of the regular season and there is a particularly dominant program, you might see that a team has a minus sign (-) ahead of its odds. 

  • Georgia Bulldogs -145

This means that if you bet on Georgia, you would need to bet $145 to profit $100 if the Bulldogs won the championship.

Of course, futures odds are a fluid market. They can change every day based on news, injuries, suspensions, transfers, etc. In college football there generally isn't too much movement in the futures market during the offseason, but once the season begins, look for huge changes week-to-week based on wins and losses.

All the odds seen above are in American format. Should you find decimal format or fractional format easier to read, simply convert the odds with our easy-to-use odds converter tool.

Pac-12 Football Championship Odds FAQ

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