College football odds: Georgia and Alabama open as the national championship favorites ahead of 2024

The early national championship favorite for the 2024 season looks a lot like the early favorite for the 2023 national title.

Georgia has opened at +350 at BetMGM to win next season’s national title in the hours after Michigan’s 34-13 national championship win over Washington. The Bulldogs opened the 2023 season as the favorite at +225 to win the title. Georgia’s odds were far shorter than anyone else and were in the mix for a playoff spot before losing to Alabama in the SEC championship game.

The Bulldogs are retaining their favorite status thanks to a returning roster that includes QB Carson Beck. He could open the 2024 season as the Heisman Trophy favorite. But the Bulldogs have an incredibly tough SEC schedule that includes trips to Alabama, Ole Miss and Texas. All three of those teams are among the top seven favorites for the 2024 national title.

The Crimson Tide open as the No. 2 favorite at +550. QB Jalen Milroe is back for Alabama as the Tide’s conference schedule is more manageable than Georgia’s. We have the Crimson Tide at No. 1 in our way-too-early top 25 for that reason.

Ohio State opens with better title odds than Michigan. The Buckeyes are at +800, and the Wolverines are at +900. The odds difference is understandable; Ohio State hosts Michigan in 2024 and it’s not clear if Jim Harbaugh will be coaching Michigan next season. As Michigan was dominating Washington for the national title on Monday night, the Buckeyes got a commitment from star Ole Miss running back Quinshon Judkins for the 2024 season.

Texas has the same odds as Michigan as it’s very possible that QB Quinn Ewers could return for another season in Austin. The Texas offense won’t have RB Jonathon Brooks or WR Xavier Worthy, but should still have plenty of talent even if Ewers heads to the NFL.

Oregon is at +1000 to win the title with former Oklahoma and UCF QB Dillon Gabriel set to play his final season in Eugene. Ole Miss is at +1100. The Rebels have secured a strong transfer class and have what could be the easiest schedule of anyone in the SEC.

Thanks to conference realignment, the top eight teams on the board are all either from the Big Ten or the SEC. The first teams from outside either of those conferences are Clemson and Florida State at +2000.

At least one ACC team will be playing for the national title. 2024 marks the beginning of the 12-team playoff format as it’s all but official that five conference champions will be playing for a national title alongside seven wild-card teams.

Early 2024 national championship favorites

• Georgia (+350)

• Alabama (+550)

• Ohio State (+800)

• Michigan (+900)

• Texas (+900)

• Oregon (+1000)

• Ole Miss (+1100)

• LSU (+1600)

• Clemson (+2000)

• Florida State (+2000)

• Penn State (+2500)

• Notre Dame (+3000)

• Oklahoma (+3000)

• USC (+3000)

• Texas A&M (+4000)

• Missouri (+5000)

• Tennessee (+5000)