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Ohio State remains the betting favorite to win the College Football Playoff national championship game. Kirby Lee-Imagn Images

College football powerhouse retains top spot in updated national championship odds

Originally posted on CFB-HQ on SI | By Matt De Lima | Last updated Sep 23, 2025 11:27 AM ET

Week 4 of the 2025 college football season brought drama, statement wins, and a reshuffling of the national picture. Yet at the top of the national championship betting board, stability remains. BetMGM’s latest release keeps the Ohio State Buckeyes as the narrow favorite, listed at +550, while the rest of the field continues to jockey for position.

The Buckeyes did not take the field in Week 4, but their early-season dominance has carried over into the latest update. Behind Ohio State, Penn State comes in at +600, followed by Georgia, Texas, and Oregon each at +700. LSU sits at +1000, Alabama at +1300, with Miami and Oklahoma tied at +1500. Rounding out the top 10 is Texas A&M at +1800.

The order reflects both the games already played and what lies ahead. The upcoming slate includes heavyweight clashes like Penn State versus Oregon and Alabama against Georgia, matchups that could redefine the race. For now, Ohio State’s consistency has kept them perched above the pack, but the gap is slim and challengers are ready to strike.

Ohio State Holds The Edge Over Penn State And Georgia

Ohio State’s +550 line reflects how strong the Buckeyes have looked since a season-opening victory over preseason No. 1 Texas. In the two games since, Ohio State has outscored opponents 107-9, including a 70-0 blowout of Grambling.

The offense has shown balance, while the defense has suffocated weaker opponents. That dominance, paired with their AP No. 1 ranking, keeps them in control of the betting market despite sitting idle last weekend.

Joseph Maiorana-Imagn Images

Penn State, however, is lurking close behind. The Nittany Lions have yet to be tested, cruising through non-conference play, but quarterback Drew Allar and running back Kaytron Allen headline a roster that will face its first real challenge against Oregon in Week 5.

The Lions are posted at +600 and could leapfrog Ohio State with a statement victory.

Matthew O'Haren-Imagn Images

Georgia remains tied with Texas and Oregon at +700, reflecting both respect for the Bulldogs’ recent championship pedigree and anticipation for their upcoming test against Alabama. While Texas and Arch Manning are still battling inconsistency, the Longhorns’ presence at +700 shows that oddsmakers are not ready to count them out of the playoff picture.

Oregon, meanwhile, has dismantled every opponent in its path and now faces Penn State in one of the season’s most pivotal early games.

Alabama, Miami, Oklahoma And Texas A&M Round Out The Top Contenders

The second tier of the odds board is filled with teams trying to shake off doubts or prove staying power. LSU sits at +1000 after finding offensive rhythm in Week 4, boosted by quarterback Garrett Nussmeier returning to full strength. Alabama, posted at +1300, is trying to put its opening loss to Florida State behind them as Nick Saban’s team embarks on a brutal stretch of ranked opponents, starting with Georgia.

Miami’s +1500 price reflects momentum and a strong resume. The Hurricanes have already beaten two ranked opponents and just handled Florida by 19 points, moving them up to No. 2 in the AP Poll.

Oklahoma matches Miami at +1500 after a 4-0 start powered by quarterback John Mateer, who has made an instant impact after transferring from Washington State. The Sooners already own wins over Michigan and Auburn, giving them a case as one of the most battle-tested contenders to this point.

Michael Caterina-Imagn Images

Texas A&M sits just behind at +1800, carried by an early-season win over Notre Dame. The Aggies face Auburn this weekend in a chance to strengthen their record before a daunting late-season schedule.

With matchups like Penn State against Oregon and Alabama against Georgia looming in Week 5, these odds may shift dramatically. But for now, Ohio State remains the team to beat in the eyes of oddsmakers.

The Buckeyes will face Washington at home on Saturday to open Big Ten play.

This article first appeared on CFB-HQ on SI and was syndicated with permission.

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