Opening 2024 National Championship Odds

2024 National Championship odds were released following the conclusion of the 2023-24 college football season on Monday night. Michigan defeated Washington to claim its first National Championship since 1997.

The opening CFP Title odds favor the Georgia Bulldogs and the Alabama Crimson Tide to return to the top of the college football landscape. Michigan, meanwhile, is a +1000 longshot. Who else might contend for the CFP Title in 2024?

Let’s analyze the opening 2024 National Championship odds and determine the best early value.

2024 National Championship Odds

In the opening 2024 National Championship odds, the Georgia Bulldogs are the +450 favorites, meaning they have 18% implied win probability.

Odds as of January 8th, 2024, at DraftKings Sportsbook.

Georgia, Alabama Early Favorites

Even though neither Georgia nor Alabama reached the CFP National Championship game in 2023, oddsmakers favor their chances of getting to Atlanta in 2025. DraftKings released their National Championship odds on Monday night, with Georgia (+450) and Alabama (+600) as the top-two favorites.

It’s hard to argue with the oddsmakers, as Georgia has only suffered two losses over the past three seasons—both in the SEC Championship game. UGA had a compelling case to make the CFP this season at 12-1, but there being three undefeated teams made it tough on the selection committee.

A key reason Georgia is favored in the opening 2024 National Championship odds is the return of QB Carson Beck. The soon-to-be senior completed 302-of-417 passes for 3,941 yards and 24 touchdown passes with just six interceptions in 2023. His 72.4% completion rate was the fifth-best in the nation.

Alabama, on the other hand, comes in just behind Georgia in the early CFP odds. They also return their starting quarterback, Jalen Milroe, plus bring in talented freshman receiver Ryan Williams. Former five-star and rising sophomore RB Justice Haynes is also ready to takeover with Roydell Williams and Jase McClellan likely entering the 2024 NFL draft.

Michigan Among Intriguing Longshots

It isn’t often you see the reigning National Champion open as a +1000 longshot in the college football title odds. That’s exactly what’s happening with Michigan, priced as +1000 underdogs in the opening 2024 National Championship odds.

Michigan is a longshot due to the fact they will be losing several players to the NFL Draft, including leading rusher Blake Corum and offensive lineman Zak Zinter. Of course, the elephant in the room is that head coach Jim Harbaugh may take an NFL job in the offseason if a good offer is put on his table.

Still, it’s hard not to be intrigued by their opening price in the 2024 National Championship odds considering how dominant they were in the 2023 season. Michigan never conceded more than 24 points to any opponent and shut down two potent offenses in the CFP Semi-Finals.

Best Early Value to Win National Championship

It’s hard to make an early 2024 National Championship prediction this far out, as so much can change in the coming months. However, there are a few teams who stick out as good early value, including the Oregon Ducks (+1100), who are joining the Big Ten Conference.

Oregon landed senior quarterback Dillon Gabriel out of the transfer portal from Oklahoma and returns a very experienced team. Ten different players who were draft-eligible this year are returning, including linebackers Jeff Bassa and Jestin Jacobs, safety Tyshiem Johnson, and receivers Tez Johnson and Traeshon Holden.

Another longshot we’re keeping an eye on is Syracuse at +8000. They’ve brought in Ohio State quarterback Kyle McCord to lead their offense and have a favorable schedule in the ACC as they avoid Florida State, Clemson, and North Carolina. With the College Football Playoff bracket expanding to 12 teams in 2024, Syracuse could find their way into the CFP conversation.