With 65 days remaining before the 2023-24 NCAA college football season kickoff, leading sportsbook operator BetMGM says bettors are flocking to get behind the Michigan Wolverines.
BetMGM revealed to Casino.org this week that there’s been heavy action on Michigan to win the 2023-24 College Football Playoff National Championship. The title game for the upcoming season is set for Jan. 8, 2024, at NRG Stadium in Houston.
Along with the NFL, college football is one of the most popular sports to bet on in the US.
Georgia dominated TCU in this past January’s title game. TCU had been a Cinderella story that began with the Horned Frogs as long as 200/1 before the regular season started last August.
Georgia, the heavy betting favorite, made quick work of TCU on its way to a dominating 65-7 win. The championship marked the second in a row for the Bulldogs out of the SEC.
Michigan a Favorite for 2023-24
The last time the Michigan Wolverines won the college football national championship was under coach Lloyd Carr who, in 1997, led the team to an undefeated 12-0 record that was capped off with a 21-16 Rose Bowl win over Washington State. More than a quarter-century later, many bettors believe this upcoming season is primed for another Michigan title.
The Wolverines will almost certainly be ranked in the AP top three to begin the year, and it’s likely they’ll be favored in every single regular-season game on the schedule,” opined Christopher Breiler, who covers the Wolverines for Sports Illustrated.
Coach Jim Harbaugh returns for his ninth season leading his alma mater. Michigan also returns the most starters in the Big Ten and nearly in all of NCAA Division 1 FBS football.
The Wolverines return quarterback JJ McCarthy and four offensive linemen to protect the budding star. Blake Corum and Donovan Edwards highlight the Michigan backfield, arguably the top running back duo in the country.
On the other side of the ball, the Wolverines return one of the top cornerbacks in the country, Will Johnson, to complement a veteran secondary. Michigan’s leading tackler, linebacker Junior Colson, additionally returns for his junior campaign.
Big Bets
BetMGM says the bulk of its college football futures have been with the Wolverines. The sportsbook says Michigan is responsible for 16.5% of the NCAA football futures money and 16% of the overall tickets.
The sportsbook controlled by MGM Resorts is willing to take more action on Michigan, but at slightly worse odds for bettors. The book recently cut Michigan’s championship line from 10/1 to 9/1.
Georgia is seeking a nearly unprecedented three-peat. Only the Minnesota Golden Gophers have won three consecutive college football championships, but that feat came back during the 1934 through 1936 seasons.
Georgia has the shortest 2023-24 title odds at +210 (21/10). Alabama, always a popular futures bet, has the second-shortest title odds at 6/1. BetMGM also cut the Crimson Tide from 7/1 after Alabama accounted for nearly 11% of its futures tickets and almost 12% of the handle.
Ohio State is next at 7/1, with rival Michigan trailing closely at 9/1. No other school has odds shorter than 10/1.
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