After Week 5 of the 2024 college football season, the landscape for both the Heisman Trophy and the national championship has seen significant shifts.
Alabama's stunning upset over Georgia has shuffled the deck, propelling Crimson Tide quarterback Jalen Milroe to the forefront of the Heisman race and altering the odds for the national title. I'll examine the latest odds for both, highlighting the key players and teams that have seen their fortunes change after another exciting week of college football action.
All odds are accurate as of timestamp. For the latest odds go to ESPN BET.
Heisman watch: Tracking the latest odds and top contenders
Jalen Milroe, QB, Alabama Crimson Tide (+225)
Last week: +750
Milroe has surged to become the new Heisman Trophy betting favorite following an outstanding performance against Georgia, where he accounted for 491 total yards and four touchdowns in Alabama's upset win. In a historic feat, Milroe became the first player in the AP poll era to record 300-plus yards passing, 100-plus yards rushing and two-plus rushing touchdowns against a top-5 opponent.
Head coach Kalen DeBoer has unlocked a new version of Milroe, who is showcasing remarkable accuracy, clutch play and a high level of on-field acumen. Milroe's performance last Saturday was a thing of beauty, particularly in the first half when he completed 18 of 21 passes for 305 total yards and three total touchdowns. His clutch play was evident with Alabama trailing late in the fourth quarter, as he connected with freshman receiver Ryan Williams for a 75-yard go-ahead touchdown.
This exceptional display against a highly ranked Georgia team has solidified Milroe's position as the Heisman front-runner and showcased his ability as a dual-threat quarterback on a big stage.
Milroe's next significant challenge will come in mid-October against a currently undefeated Tennessee team, where he'll have another opportunity to demonstrate his skills on a big stage and further strengthen his Heisman candidacy.
Stephen A. Smith explains why he sees Travis Hunter as the front-runner for the Heisman Trophy.
Travis Hunter, WR/CB, Colorado Buffaloes (+750)
Last week: (+1600)
If you've been a regular reader, you're holding a 30-1 ticket.
Colorado's Travis Hunter has played 92% of Buffaloes offensive and defensive snaps. No one else has even played 60%!
— Pamela Maldonado (@pamelam35) September 17, 2024
Is he worth a Heisman consideration?
Lots of Football left. Lots of big games to stand out. pic.twitter.com/6nU8vHNFtz
Hunter made a significant leap into the top three with his exceptional two-way play, including a standout performance against UCF where he caught a touchdown and made a crucial interception.
As a receiver, Hunter ranks among the nation's best. He is tied for third in receptions (46) and receiving touchdowns (6) and ranks fifth in receiving yards (561). Defensively, he has recorded two interceptions, three passes defensed (the leaders have six) and 16 total tackles. Beyond just the stats, Hunter has consistently delivered in crucial moments, like his game-winning forced fumble against Baylor in Week 4.
Hunter's ability to impact the game on both sides of the ball sets him apart from his peers and could help him overcome the Heisman's tendency to favor quarterbacks from national championship-caliber teams. Hunter is on pace to finish the season with over 100 catches and 1,000 receiving yards while also ranking among the nation's top defensive backs. No player has put together such a statistical profile in the sport's history.
If you're not a believer, there are reasons to still buy. For one, Colorado is currently tied for first in the Big 12 with a 2-0 conference record, giving Hunter a platform to showcase his talents in meaningful games. Two, Hunter's production already surpasses that of previous two-way Heisman winner Charles Woodson of Michigan (Woodson had seven interceptions and 43 tackles and 11 receptions for 231 yards and a TD to beat out Tennessee's Peyton Manning for the award in 1997), potentially strengthening his case. Lastly, the uniqueness of Hunter's contributions makes it difficult for voters to compare him to traditional candidates, which could also work in his favor.
While challenges remain, including Colorado's overall record and the historical bias toward quarterbacks, Hunter's exceptional and unprecedented season has significantly boosted his Heisman odds, making him a serious contender for the award.
Ashton Jeanty, RB, Boise State (+1100)
Last week: +2000
Jeanty is putting up remarkable numbers. In Boise State's game against Washington State, Jeanty rushed for 259 yards and four touchdowns on 26 carries, leading Boise to a 45-24 victory. He is the only FBS player this season with four rushing touchdowns in multiple games (3). This has caught the attention of Heisman voters and oddsmakers.
Through four games, Jeanty leads the nation in total rushing yards (845) and rushing touchdowns (13) on just 82 attempts (tied for 14th). Jeanty's efficiency is remarkable. He has averaged 10.3 yards per carry, and if he maintains this pace, he could potentially set the record for yards per carry over a full season.
Jeanty's versatility as both a rusher and receiver makes him a dual threat out of the backfield. His outstanding performances are not only boosting his Heisman chances but also elevating his draft stock, with some analysts considering him a potential first-round pick in the 2025 NFL draft.
As a running back, Jeanty stands out in a Heisman race that is typically dominated by quarterbacks. A milestone to watch is the FBS single-season rushing touchdown record of 37, set by Oklahoma State's Barry Sanders in 1988. Jeanty is projected to rush for 31 touchdowns, and with a few exceptional games, he could potentially challenge this historic mark.
Ryan Williams, WR, Alabama Crimson Tide
If you're like me, you immediately checked ESPN BET for Williams' Heisman odds after his outstanding performance against Georgia.
Williams dazzled with six catches for 177 yards, including a game-winning 75-yard touchdown catch with 2:18 remaining. He showcased exceptional skill in adjusting to the ball, staying in bounds and evading defenders. Remarkably, he now has six catches of 40 yards or longer on the season.
However, Williams is not currently listed in the Heisman odds, which is understandable. As a true freshman, he hasn't had enough playing time to be considered a serious Heisman contender yet. The 17-year-old has only 16 receptions, which doesn't even rank in the top 150 among receivers.
But Williams' performances certainly have garnered national attention. His exceptional vision, contact balance, acceleration and toughness have quickly established him as one of the most dynamic young players in college football. While he may not be a Heisman contender this year, his early success suggests he could be a name to watch in future seasons, if not in upcoming weeks.
Breaking down the latest national championship odds
The odds to win the national championship have shifted following Georgia's loss to Alabama. The Crimson Tide have risen to the No. 1 spot in the AP poll and now hold the second-best odds (+375) to win the title, improving from +800 last week.
Ohio State is the current favorite (+350) going into Week 6 despite being ranked No. 3, while No. 2 Texas (+500) remains a strong contender with a 5-0 record following a 35-13 win over Mississippi State.
Team to watch: Indiana Hoosiers (+30000)
Indiana's remarkable 5-0 start, its best since 1967, has propelled the Hoosiers to No. 23 in the AP Top 25 poll, marking their first ranking since Week 1 of the 2021 season. The turnaround can be largely attributed to first-year head coach Curt Cignetti, who previously led James Madison. Cignetti has orchestrated a massive roster overhaul, bringing in 54 new players through transfers from his previous team and other schools.
The Hoosiers' offense has been particularly impressive, averaging 49 points per game while gaining over 400 yards of total offense in all five games. Transfer quarterback Kurtis Rourke has been a key factor, as he has diplayed efficiency and outstanding accuracy, especially on deep throws. The balanced attack and big-play capability of this offense suggest potential to compete with top Big Ten teams.
While Indiana's schedule has been relatively favorable so far, upcoming matchups against Michigan and Ohio State will truly test the Hoosiers' mettle. An upset win over the Wolverines could leave Indiana with just one loss, significantly boosting their playoff chances. While a national title may be a stretch, making the playoff is within the realm of possibility if the Hoosiers can maintain their current form and pull off a few key upsets.