Four-Team Playoff Coming to College Football in 2014

Attention sports gamblers and College Football fans alike, we are finally getting a College Football playoff.

The new playoff structure was approved by a presidential oversight committee on Tuesday.

The four teams chosen by the selection committee will play in the semifinals of a current bowl site with the national championship game to be awarded to the highest bidder.

This is reportedly a 12-year deal lasting through the 2025 season. 

"A four-team playoff doesn't go too far; it goes just the right amount," said Virginia Tech president Charles Sterger. "We are very pleased with this arrangement, even though some issues … remain to be finalized."

Heather Dinich of ESPN reports that the group of presidents also endorsed a rotation of the semifinal games among six bowl sites and rotation of the championship game among neutral sites with the championship game not being branded as a bowl game.

- Dan Shapiro, Gambling911.com