Heisman odds: Pac-12 QBs Caleb Williams, Michael Penix Jr. top list after undefeated starts

The Heisman Trophy is college football's most prestigious individual award and one of the biggest awards in sports. Since 1935, the award's been given to the best player in the NCAA's Football Bowl Subdivision (FBS).

USC quarterback Caleb Williams is the defending Heisman Trophy winner, earning the award during his breakout sophomore season. This fall, he is looking to become the first repeat winner in nearly 50 years, when Ohio State running back Archie Griffin captured two straight Heisman Trophies in 1974 and 1975.

Here's how the latest Heisman Trophy odds look, as of Tuesday, Sept. 26, with odds from BetMGM:

T-1. QB Caleb Williams, Jr., USC (+350)

Last week: 1 (+350)

The defending Heisman winner keeps at least a share of the top spot thanks to his performance in No. 8 USC's 42-28 win over Arizona State. He completed 20 of 31 passes for a season-high 322 yards and three touchdowns. He added two rushing touchdowns as well.

This week, Williams continues his campaign to win a second Heisman with a matchup on the road against Colorado (3-1, 0-1). That game's lost a little shine after the Buffaloes' loss to No. 9 Oregon but will be another chance for Williams to dominate in conference play.

USC Trojans quarterback Caleb Williams (13) remains at the top of the Heisman odds after week 4.
USC Trojans quarterback Caleb Williams (13) remains at the top of the Heisman odds after week 4.

T-1. QB Michael Penix Jr., Sr., Washington (+350)

Last week: 2 (+550)

Another week, another jump up the odds for Penix Jr.

No. 7 Washington took care of business at home against Cal with a 59-32 win but Penix Jr. had season lows in completions (19), attempts (25), and yards (304). He threw his second interception of the season but his four touchdowns on the day helped his Heisman odds.

This week, Washington heads on the road to take on Arizona (3-1, 1-0). The Bearcats are fresh off a close 21-20 win over Stanford but could provide Penix Jr. and the Huskies a tune-up game ahead of a bye and a date with No. 9 Oregon.

Pac-12 Heisman Watch: Washington's Michael Penix Jr. makes a leap as conference play begins

3. QB Quinn Ewers, So., Texas (+600)

Last week: 3 (+600)

Ewers remains solidly in third this week after a strong performance in the Longhorns' Big 12 opener. The sophomore completed 18 of 23 passes for 293 yards and a touchdown. He added a rushing touchdown for the third time this season as No. 3 Texas rolled 38-6 over Baylor.

The best thing Ewers can do is replicate those types of numbers at home this week against No. 24 Kansas (4-0, 1-0). The Jayhawks come before the Red River rivalry game against No. 14 Oklahoma (4-0, 1-0) which may end up the biggest regular-season game of the year for the Longhorns.

4. QB Bo Nix, Sr., Oregon(+1200)

Last week: NR (+2200)

Nix went from an outside shot to inside the top four after the Ducks' dominant 42-6 win over Colorado. Nix went 28 for 33 for 276 yards and four total touchdowns, including one on the ground, and firmly makes it three Heisman contenders in the Pac-12.

This week, No. 9 Oregon heads to Stanford (1-3, 0-2) in what should be another easy game for the Ducks' offense. It precedes a bye and then the toughest stretch of the Ducks' schedule: at No. 7 Washington (Oct. 14), home vs. No. 16 Washington State (Oct. 21), and at No. 10 Utah (Oct. 28).

Oregon Ducks quarterback Bo Nix throws the ball in the first half against the Colorado Buffaloes.
Oregon Ducks quarterback Bo Nix throws the ball in the first half against the Colorado Buffaloes.

5. QB Jordan Travis, Sr., Florida State (+1300)

Last week: 5 (+1100)

Travis remains in the top five of the Heisman odds after his clutch performance in a wild game against Clemson. No. 4 Florida State broke a seven-game losing streak to the Tigers with a 31-24 overtime win. Travis completed 21 of 37 passes for 289 yards and three total touchdowns (two passing, one rushing), including the go-ahead touchdown pass to receiver Keon Coleman.

No. 4 Florida now has two close wins to open conference play. The Seminoles are off this week before their home ACC opener against Virginia Tech on Oct. 7.

On the bubble: QB Sam Hartman, Sr., Notre Dame (+1600); QB Jayden Daniels, Sr., LSU (+1800); QB Dillon Gabriel, Sr. Oklahoma (+2000); QB Tyler Van Dyke, Jr., Miami (+3300); QB J.J. McCarthy, Jr., Michigan (+3500)

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This article originally appeared on USA TODAY: Heisman odds: Caleb Williams, Michael Penix Jr. lead; Quinn Ewers next