Heisman Trophy Odds: Jayden Daniels Listed as Overwhelming Favorite

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The college football playoff is set, and we have a clear favorite at the top of the latest Heisman Trophy Odds. 

Currently,  LSU’s Jayden Daniels , is a massive favorite over Washington’s Michael Penix Jr. and Oregon’s Bo Nix .

Rounding out the top five in Heisman odds are Jalen Milore and Marvin Harrison Jr. . However, based on the betting odds, it would be a historic upset if Daniels did not take home the most prestigious award in college football.

There are no more games to boost your resume, and voters are starting to submit their ballots. Here, we will take a look at the Heisman odds from the remaining contenders. 

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Heisman Trophy Odds 2023

Here are the latest odds to win the Heisman Trophy at top sportsbook apps today:

Read More: College Football Championship Odds | College Football Betting Sites

Heisman Trophy Best Bets for 2023 Season

Here are our best bets to win the Heisman Trophy.

Jayden Daniels

There is not much more to say about Jayden Daniels other than he is the most electric player in college football. For the entire season, he has always been a one-man show for LSU. However, the last few weeks have been insane, and he has put himself to be the first Heisman winner on a 3+ loss team since Lamar Jackson in 2016.

His resume is complete, and it features 50+ total touchdowns and 5000 yards of total offense. Daniels also has 90 20+ yard plays this season, with the next closest player only having 61. If this is truly a stats award, then it is hard to argue anyone but Daniels should win the 2023 Heisman trophy.

Michael Penix Jr.

Washington finished the season undefeated and won the Pac-12 championship. Although Penix likely will not win the Heisman, there is a small chance that enough voters are swayed by Penix leading the Huskies to an undefeated season.

He finished the year completing 65.9% of his passes for 4218 yards and 33 touchdowns to nine interceptions. While Penix has been impressive, a lot of credit goes to a deep receiver room and an offensive line that has multiple NFL-caliber players. 

A couple of ‘meh’ games have hurt his odds, but after weeks behind Nix in Heisman odds, Penix is the clear No. 2 favorite behind Daniels.

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Heisman Trophy Odds: Value Picks & Longshots

Bo Nix ()

In his first season at Oregon, Bo Nix improved in almost every statistical category compared to his time at Auburn. 

Although the loss to Washington eliminated Oregon from the playoffs, Nix still shined this year, as he finished with 40 touchdowns and only three interceptions. With a tremendous offensive line, deep skill room, and creative offense, Nix had plenty of help. 

Nix had an outside shot to catch Daniels in Heisman odds with a win over Washington in the Pac-12 Championship. While he put up a great performance, a loss officially put an end to his Heisman race, as he is behind Daniels and Penix in odds.


Heisman Trophy Line Movement & Implied Probability to Win


Carson Beck +750 11.76%
Quinn Ewers +750 11.76%
Dillon Gabriel +1000 9.09%
Will Howard +1300 7.14%
Jalen Milroe +1500 6.25%
Jaxson Dart +1500 6.25%
Nico Iamaleava +1500 6.25%
Garrett Nussmeier +1800 5.26%
Riley Leonard +2000 4.76%
Cameron Ward +2200 4.35%

Implied probabilities are calculated using odds offered by Consensus.
Last Updated: 2024-04-22 00:00:00 PDT.


What Impacts Heisman Trophy Odds And Causes Lines to Move?

When it comes to futures, like the Heisman Trophy odds, betting lines can move for a variety of reasons.

Heisman odds for a player will shift according to how well he is or isn’t playing, which includes whether the team is winning games. Losing a game will not necessarily cause a player’s odds to shift, but if he plays poorly in that game and/or is why the team lost, they probably will.

Consequently, one good game/win may not move the lines, but Heisman odds will likely shift once a player strings together a few solid games (and wins).

Injuries that cause a player to miss significant time will have an impact. A player cannot win the Heisman if he does play. The betting public can also have an impact. If the public gets heavily behind one player, sportsbooks will shift their odds to make them less appealing to bettors. Books may also shorten another player’s odds to encourage betting on him.

What is Implied Probability?

Implied probability refers to the likelihood of a particular outcome based on the odds. For example, BetMGM lists Jayden Daniels at -1400 to win the Heisman. Those odds translate to a 93.33% implied probability that Daniels will win the Heisman when it is awarded in December.

A player with larger odds, such as Penix, has +1000 odds to win the Heisman. That translates to a 9.09% implied probability of winning the Heisman trophy.

To figure out the implied probability for a wager, you can use our implied probability calculator.

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How To Bet On Heisman Trophy Odds

If you’re looking to bet on the Heisman odds this year, it’s a perfect time to take advantage of amazing limited-time welcome offers available at sportsbooks today. Add more than one sports betting app to your playbook so you can line shop for the most competitive Heisman Trophy odds.

Choose Your Online Sportsbook

Most US states with legal online sports betting put multiple mobile sports betting apps at your fingertips. The welcome bonuses, as well as the lines on the Heisman, differ from sportsbook to sportsbook.

Check out Gaming Today for comprehensive coverage of online sportsbooks operating in your state. Once you’ve chosen a sportsbook, you’ll need to provide proof of age and identity to register for a new account. Don’t forget to enter the promo code!

Make Your First Deposit

Once the sportsbook verifies your account details, you can deposit funds and start wagering on games or college football futures markets like the Heisman Trophy.

Navigating to the cashier at your chosen sportsbook displays all the different deposit options. Some of the most reliable deposit methods include PayPal, Play+, debit/credit cards, and ACH/eCheck.

Make Your First Bet

Find the “College Football” tab on the home page of your favorite sportsbook and click on it. On the following page, find the “Player Futures” tab and click on it. That will take you to the page where Heisman odds get posted. Find the player you want to bet on, click on him, decide how much you want to wager, and then place your bet.

Remember, many welcome bonuses at sportsbooks are only for the first wager, so choose wisely!

Cashing Out

If your Heisman Trophy bet cashes in, congratulations! You can reinvest your winnings into other bets, but if you are ready to cash out, all sportsbooks will offer you several different options.

PayPal, ACH/eCheck, and Play+ represent some of the fastest ways to cash out when your NBA Championship wagers win.

Where To Bet On Heisman Trophy Odds

All mobile sports betting apps that operate in the US will carry Heisman Trophy odds. Your ability to bet will depend on whether you’re physically located within one of the states with legal sports betting

Check out the list below to discover the best sportsbooks in your region for Heisman Trophy betting.

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How To Read Heisman Trophy Odds

Bettors can find Heisman odds throughout the year at the online sportsbooks available in their state. Prices will often fluctuate throughout the year based on injuries, how a player/team is playing, roster additions and subtractions, etc.

As for how to read those odds, let’s look at the Heisman prices for three players at FanDuel (as of June 30):

  • Caleb Williams, +500
  • KJ Jefferson, +5000

Regarding plus money odds (like the above), bettors must risk $100 to win the listed number. So, a $100 bet on Caleb Williams would result in a $600 payday, your stake plus $500 in winnings. At those odds, he has an implied probability of 16.67% (you can calculate implied probability using our calculator).

A $100 wager on Jefferson would result in a $5,100 payday, your stake plus $5,000 in winnings. Jefferson has a 1.96% chance of winning.

Heisman Trophy Odds: History

YearHeisman WinnerPositionSchoolOdds Prior To Week 1
2022Caleb WilliamsQBUSC+600
2021Bryce YoungQBAlabama+800
2020Devonta SmithWRAlabama+10000
2019Joe BurrowQBLSU+4000
2018Kyler MurrayQBOklahoma+3000
2017Baker MayfieldQBOklahoma+1000
2016Lamar JacksonQBLouisville+10000
2015Derrick HenryRBAlabama+2500
2014Marcus MariotaQBOregon+425
2013Jameis WinstonQBFSUNot Listed
2012Johnny ManzielQBTexas A&MNot Listed
2011Robert Griffin IIIQBBaylor+2800
2010Cam NewtonQBAuburnNot Listed
2009Mark IngramRBAlabamaNot Listed
2008Sam BradfordQBOklahomaNA
2007Tim TebowQBFloridaNA
2006Troy SmithQBOhio StateNA
2005Reggie BrushRBUSCNA
2004Matt LeinartQBUSCNA
2003Jason WhiteQBOklahomaNA
2002Carson PalmerQBUSCNA
2001Eric Crouch QB/WRNebraskaNA

College Football Betting 101

Jumping into the wide world of sports betting can be a little tricky. While making mistakes can help you learn, mistakes when betting often result in losing money. No one wants to do that! So, before you get started on your sports betting journey, these pages may help you find answers to any questions you may have:

For more betting help, learn how to bet on college football games online.

Additional College Football Futures Markets

Heisman Trophy Odds FAQ’s

Is betting on Heisman Trophy odds legal in the US?

Betting on Heisman Trophy odds is legal in the US but only in states with legal sports betting.

Where can I bet on Heisman Trophy odds online?

You can bet on Heisman Trophy odds on the legal sports betting apps that are licensed to operate in your state.

How old do I need to be to bet on the Heisman Trophy?

The legal age varies from state to state. But the legal age to bet on the Heisman Trophy in most states is 21. It is, however, 18 in a couple of states and at some retail sportsbooks located on tribal land.

Who is the current Heisman Trophy favorite for 2023?

Oregon’s Bo Nix is the current favorite to win the Heisman Trophy this season.

When will the 2023 Heisman Trophy be awarded?

The Heisman Trophy will be awarded in early December, after conference championship games and before bowl games get underway.

About the Author
DJ Corrigan

DJ Corrigan

DJ Corrigan is a sports betting writer for Gaming Today and has been covering the world of wagering since his days at Ohio State University. Corrigan's love of betting the Over and chasing the hungry dogs has led him to a career crunching numbers with an emphasis on NCAAF, NCAAB, NFL, and MLB betting.

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