College football betting: Despite unlikely odds and tough schedule, bettors hope Colorado makes the playoffs

What needs to happen for fans to stop betting on Colorado?

The Buffaloes have received the most bets on win totals of any team at BetMGM ahead of the 2024 college football season, and they also receive the most bets of any team both over and under their 5.5 win total. Colorado has +2000 odds to make the top 12 teams in the playoffs, and 12.3% of bets on teams making the playoffs are on the Buffs.

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

Improving the offensive line was Colorado’s biggest priority this offseason, but it’s difficult to build a solid and stable offensive line in just one season. Colorado also needs to find someone who can run the ball as well. The team’s top three runners left after the season. Former Ohio State running back Dallan Hayden appears to be the early favorite to lead the Buffs 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, as well as visits to Nebraska and Colorado State — two teams that should be significantly better in 2024. Oh yeah, the season starts with a visit to FCS powerhouse North Dakota State. This isn’t a foregone conclusion; the Bison are no strangers to beating FBS opponents to start the season.

Just making it to a bowl game would be a solid season for Colorado.

Almost half of the money goes to Ohio State

The money wagered on Colorado and Ohio State for the playoffs accounts for more than 60% of total turnover at BetMGM. And the money on Ohio State makes a lot more sense than the money on Colorado.

Nearly 49% of bettors are betting on Ohio State to make the playoffs at -750. The Buckeyes started at -550 and their odds of making the playoffs have only gotten better as they are the favorites to win the national title. Ohio State has plenty of talent on defense and has signed former Kansas State QB Will Howard and former Ole Miss RB Quinshon Judkins on offense. It really could be a make or break national title season in Columbus.

Overall, there are eight teams with better odds of making the playoffs. Georgia is the No. 2 favorite at -500, Oregon at -250 and Texas at -225. Notre Dame is the No. 5 favorite at -165, thanks to the signing of former Duke QB Riley Leonard and a schedule that includes games at Texas A&M and USC and a home game against Florida State. The rest of the schedule is so manageable for the Irish that a 2-1 record in those three games could be enough for a playoff spot.

• Ohio State (-750)

• Georgia (-500)

• Oregon (-250)

• Texas (-225)

• Notre Dame (-165)

• Ole Miss (-130)

• State of Pennsylvania (-130)

• Michigan (-110)

• Alabama (+115)

• UT (+120)

• State of Florida (+150)

• Missouri (+180)

• Tennessee (+180)

• Cleveland (+210)

• Miami (+225)

• State of Kansas (+275)

• Utah (+280)

• Texas A&M (+300)

• UCLA (+400)

• Oklahoma (+500)

• Louisville (+500)

• NC State (+500)

• Kansas (+600)

• Arizona (+650)

• Iowa (+650)

• Auburn (+700)

• Washington (+800)

• Wisconsin (+1000)

• Nebraska (+1800)

• Colorado (+2000)

• Florida (+2500)