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The top five teams in the College Football Playoff rankings are all -1200 or have even greater payout odds at BetPhoenix.
The selection committee released its first rankings of the season on Tuesday with Oregon at No. 1, followed by Ohio State, Georgia, Miami and Texas.
Other likely teams include Penn State, Tennessee, Indiana, BYU, Notre Dame, Alabama and Boise State.
The new format requires the top four teams to be conference champions, so as of now Oregon ( Big Ten ), Georgia ( Southeastern Conference ), Miami (Atlantic Coast Conference) and BYU ( Big 12 ) would receive first-round byes.
As it stands, the first-round matchups would be: Boise State at Ohio State; Alabama at Texas; Notre Dame at Penn State; and Indiana at Tennessee.
Here are ESPN's recent takes on the top teams:
Oregon Ducks
"Though it may have taken a few weeks for quarterback Dillon Gabriel and the Oregon offense to be fully in sync, what has transpired over the past five games has been nothing short of exactly what Gabriel and the Ducks envisioned when he transferred to Eugene this offseason.
"As Oregon has shown itself to be the best team in the country, Gabriel and offensive coordinator Will Stein's offense have become a symphony of efficient production and, most importantly, winning. Gabriel has now thrown for 2,371 yards and 18 touchdowns while completing 64% of his passes on his way to leading one of the top offenses in the nation." -- Paolo Uggetti
Georgia Bulldogs
"It was physical and frustrating, but Georgia eventually took over in a 34-20 win over Florida. For the second straight game, the Bulldogs had to overcome three Carson Beck interceptions -- he's now thrown 11 in the past five games! -- but he also threw a pair of second-half touchdown passes. Florida led 13-6 at halftime, but once the Gators' starting quarterback, DJ Lagway, left the game with injury in the second quarter, a UGA comeback felt inevitable. It was. In the end, Georgia proved that its most important quality is depth. The Bulldogs have more ways to wear down an opponent and eventually prevail than just about everyone else in the country. They are, after all, 49-3 since the start of 2021.
"Beck really does need to cut down on the picks, though. I mean, goodness." -- Bill Connelly
Ohio State Buckeyes
"Wide receiver Jeremiah Smith has already tied Cris Carter's Ohio State true freshman record set in 1984 with eight touchdown receptions. During Saturday's 20-13 victory over Penn State, the 18-year-old phenom also broke Carter's school freshman receiving yards record, hauling in a game-high 55 yards on four catches."
On a loaded Ohio State roster stocked with future pros, including running backs Quinshon Judkins and TreVeyon Henderson and wide receiver Emeka Egbuka, Smith has stood out, highlighted by his dazzling, one-handed catches in the end zone. Smith amazingly won't be eligible for the NFL draft until 2027. That is bad news for opposing Big Ten defensive backfields, both for the rest of this season and beyond." -- Jake Trotter
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