College football betting: Despite improbable odds and tough schedule, bettors love Colorado to make the playoff

What will it take for fans to stop wagering on Colorado?

The Buffaloes have gotten the most win total bets of any team at BetMGM ahead of the 2024 college football season and they also are getting the most bets of any team to both go over and under their win total of 5.5. Colorado is +2000 to make the first 12-team playoff, and 12.3% of the wagers on teams to make the playoff is on the Buffs.

Colorado’s odds should probably be longer than 20-1 given the issues that plagued the team in Deion Sanders’ first season. Sanders overhauled the roster when he arrived in Boulder, and his team’s weaknesses on both the offensive and defensive lines were exploited by stronger teams. Colorado QB Shedeur Sanders was sacked over 50 times in 2023.

Addressing the offensive line was the biggest priority for Colorado over the offseason, but it’s hard to build a solid and stable offensive line in just one season. Plus, Colorado has to find someone to run the ball too. The team’s top three leading rushers entered the transfer portal after the season. Former Ohio State running back Dallan Hayden appears to be the early favorite to be the Buffs’ bellcow back in 2024.

Colorado’s schedule is no joke either. The Buffaloes are back in the Big 12 and have seven games against teams that made bowls in 2023 along with visits to Nebraska and Colorado State — two teams that should be considerably better in 2024. Oh, the season begins with a visit from FCS powerhouse North Dakota State. That’s no gimme; the Bison aren’t strangers to beating FBS opponents to start the season.

Simply getting to a bowl game would be a solid season for Colorado.

Nearly half the money is on Ohio State

The money on Colorado and Ohio State to make the playoff makes up more than 60% of the total handle at BetMGM. And the Ohio State money makes a lot more sense than the Colorado money does.

Almost 49% of the handle is on Ohio State to make the playoff at -750. The Buckeyes opened at -550 to make the playoff and their odds have only gotten better as they are the favorites to win the national title. Ohio State returns a ton of talent on defense and added former Kansas State QB Will Howard and former Ole Miss RB Quinshon Judkins on offense. It could truly be a national title or bust season in Columbus.

Overall, there are eight teams with better than even money odds to make the playoff. Georgia is the No. 2 favorite at -500, while Oregon is at -250 and Texas is at -225. Notre Dame is the No. 5 favorite at -165 thanks to the addition of ex-Duke QB Riley Leonard and a schedule that contains games at Texas A&M and USC and at home against Florida State. The rest of the slate is manageable enough for the Irish that a 2-1 record in those three games could be enough for a playoff berth.

Ohio State (-750)

Georgia (-500)

Oregon (-250)

Texas (-225)

Notre Dame (-165)

Ole Miss (-130)

Penn State (-130)

Michigan (-110)

Alabama (+115)

LSU (+120)

Florida State (+150)

Missouri (+180)