The Georgia Bulldogs are +320 betting favorites in the college football National Championship odds despite missing the CFP last season. 

The Michigan Wolverines took home their first title since 1997 with a 34-13 win over the Washington Huskies. Then, when celebrations settled down, realization hit. Jim Harbaugh is moving on to coach in the NFL and plenty of the dominant roster moved on, too.

No Harbaugh and Nick Saban is doing a number on Michigan and Alabama's national championship odds. Each sitting well outside the top three to claim the title next year. 

2024 College Football National Championship Odds

Odds as of June 27, 2024

Only less two months out from the start of the new college football season featuring a brand-new CFP bracket and conference realignment.

Throughout the offseason, the Bulldogs coaching and roster stability has kept them favorites.

NCAAF National championship favorites: kirby smart's reputation keeps him on top

Despite going 32-2 over the last three seasons, the committee kept Georgia out of the postseason last year once its streak was snapped by Alabama. However, Kirby Smart's success of winning back-to-back championships the two seasons prior gives him automatic credit.

Also, don't forget that the 2024 college football playoff introduces an exciting 12-team format. Which makes the route through the playoffs a bit more flexible for notable programs. 

Quarterback Carson Beck, the Heisman Trophy favorite, will be returning to his Dawgs, too. That keeps a key position pretty stable on the field and we saw the steady signal-caller look steady as the season progressed, throwing just shy of 3,500 yards, the third-most in the nation.

Them: "Carson Beck is average."

The Film:pic.twitter.com/Zt0c56FpQT

— The Bulldawg Report (@ReportBulldawg) June 18, 2024

nCAAF National championship contender: texas makes itself known

A round of applause for Texas putting up a fight in the Sugar Bowl against Washington. The Longhorns ranked in the nation's top 15 on both sides of the ball, allowing just 18.9 PPG and piling up 35.8 PPG. That's the standard they'll have to maintain now as they prepare for their move to the SEC conference.

Texas' best feature is their quarterback tandem of a polished Quinn Ewers and up-and-coming Arch Manning. Ewers has taken on the leadership role exceptionally well, tossing over 3,400 yards and 29 total touchdowns. However, if it's not clicking, there's promising replacement in a Manning. Steve Sarkisian works magic with his offensive lineup nearly every season. The Longhorns are eager to become a dynasty.

Take a look at Texas QB Quinn Ewers stats since returning from injury ⬇️🤘

What will his stats look like vs Washington? 🤔 pic.twitter.com/rqo6J8mHcE

— FOX College Football (@CFBONFOX) December 30, 2023

NCAAF National championship long shot: for once, we don't know what to expect from alabama

Since first opening, Alabama's odds have dropped. The Tide, who initially sat in the oddsboard's top three, have been pushed out of their high-ranking spot.

The Tide has a lot of destructing cracks to fill. After 17 seasons, Nick Saban retired and first-year coach Kalen DeBoer has landed in Tuscaloosa hoping to continue the legacy. 

Jalen Milroe will be back on the field. The six-foot-two quarterback is +1400 to take home the Heisman Trophy. But, the wide receiver section is quite sparse after Isiah Bond's transfer and Jermaine Burton's graduation. 

I’m tired of hearing the Shedeur Sanders and Carson Beck talk.

Jalen is the best returning QB this year. https://t.co/i0gmrPtz59 pic.twitter.com/KVcYeKvSj6

— Squidward_Tha_Goat (@SquidwardsWrld) June 7, 2024

Spring practices have brought attention to WR Kobe Prentice, who wrapped up his sophomore season with over 300 yards and two touchdowns. Meanwhile, the Tide has changed freshman Caleb Odom from a TE to WR. 

The versatility and development talents of Alabama should make these major transitions a bit easier. But still, this is the first season in awhile where we just don't know what to expect from 'Bama until we see it.

Last 10 College Football National Champions

The SEC conference has claimed six of the last national titles over the last decade. By the looks of it, sportsbooks do a decent job with their opening odds. Only one program had early odds of +1000 or higher, the Buckeyes in 2014. 

nCAAF Teams with the most national titles

Despite not having hoisted the trophy since 1927, Yale was a wagon, picking up 14 titles by the turn of the 20th century.

In terms of modern-day history, the Tide has been passed the torch as a dynasty. With the help of Nick Saban, Alabama pocketed six championships between 2009 and 2020. 

nCAAF National championship betting trends

How to bet on the college football national championship

When it comes to big events for any sport, you can bet on futures months in advance -- including which team will win the national championship. Each week, oddsmakers will update the odds to reflect how a squad is doing. If a team is plagued with injuries, their chances of making it to the final game slim down. A surging squad will see their odds skyrocket.

When you go to a college football sportsbook, you’ll see the betting lines laid out like this:

Georgia opens as the fave since the Bulldogs have the lowest odds. The Crimson Tide and Buckeyes are considered underdogs.

If you believe that Georgia has the best chance of winning the championship, and you bet $100 on them, you’d get a payout of $275 – your original $100 is returned along with your winnings of $175. Our odds calculating toolwill show you how much you’d win based on the odds and amount bet.

When you see futures odds that you like, it’s best to jump on them early. As mentioned above, betting sites will adjust the odds as we get closer to bowl season and teams move up and down in the standings.