2026 Heisman Trophy Race: Odds Shift After Week 2
Written by: Jonathan Rodriguez
Last Update: Tue Sep 15, 2026, 9:04 am ET
Read Time: 6 minutes
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The 2026 Heisman Trophy race is already taking shape after two weeks of college football action. BetOnline's latest odds show several major changes following Week 2.
Updated 2026 Heisman Trophy Odds Following Week 2 Action
Darian Mensah remains the favorite at (6/1 | +600), while Ohio State star Jeremiah Smith has surged into second at (15/2 | +750). Arch Manning follows at (9/1 | +900), with Notre Dame's CJ Carr at (11/1 | +1100).
Miami wide receiver Malachi Toney rounds out the top five at (12/1 | +1200). Several other contenders have also made significant moves, creating plenty of intrigue for bettors monitoring NCAAF odds.
The latest market also shows how quickly Heisman prices can change. Strong performances against quality opponents could therefore reshape the race again during Week 3.
Darian Mensah (6/1 | +600) Leads the Heisman Race | BetOnline
Mensah has established himself as the player to beat after an explosive start with Miami. The quarterback transferred from Duke and immediately delivered a statement performance against Stanford.
He completed 27 of 30 passes for 401 yards and five touchdowns in Miami's 45-6 victory. He followed that display with another efficient outing against Florida A&M.
Mensah completed 14 of 15 passes for 252 yards and three touchdowns during Miami's 77-7 win.
Through two games, he has thrown for 653 yards and eight touchdowns without an interception. That production explains why he remains atop the Heisman market.
Jeremiah Smith (15/2 | +750) Surges After Another Big Performance | BetOnline
Smith has strengthened his Heisman case by producing against one of the country's strongest opponents.
The Ohio State receiver opened the season with 151 yards and two touchdowns against Ball State. He then followed that performance with another dominant display against Texas.
Smith caught eight passes for 164 yards and a touchdown during Ohio State's 24-23 loss.
The defeat prevented Ohio State from protecting its perfect record. However, Smith's production remained difficult to overlook.
His latest performance helped explain his jump from 16/1 to 15/2. He also moved from sixth to second in the BetOnline market.
Arch Manning (9/1 | +900) Sits in the Middle After Leading Texas' Comeback | BetOnline
Manning's placement reflects his ability to produce in the biggest games. Texas entered Week 2 facing top-ranked Ohio State in one of the season's most anticipated matchups.
The Longhorns trailed 23-3 before Manning orchestrated a remarkable fourth-quarter comeback. He completed 11 of his final 15 passes while directing three scoring drives.
Manning finished with 196 passing yards and one touchdown, but his late-game execution proved decisive. Texas eventually won 24-23 on a late touchdown.
The performance strengthened Manning's Heisman credentials despite his modest overall statistics. It also gives him a signature victory that could matter as the season progresses.
CJ Carr (11/1 | +1100) Builds Momentum | BetOnline
Carr remains firmly among the leading contenders after producing another efficient performance for Notre Dame.
The Fighting Irish crushed Rice 52-0, with Carr completing 16 of 20 passes for 253 yards. He also threw four touchdowns without an interception.
Carr now has 492 passing yards and six touchdowns through two games. He has also completed 71% of his attempts while throwing only one interception.
Notre Dame's undefeated start gives Carr an ideal platform to remain involved in the Heisman conversation. The Irish also face several stronger opponents later this season.
Consequently, Carr could gain ground if he maintains this efficiency against tougher competition.
Malachi Toney (12/1 | +1200) Keeps Miami in the Heisman Spotlight | BetOnline
Toney gives Miami another legitimate candidate near the top of the market. His explosive receiving ability has made him one of the most dangerous offensive players in college football.
He opened the season with 12 catches for 234 yards and three touchdowns against Stanford. That performance immediately pushed him into the national Heisman conversation.
Toney then added 96 receiving yards and another touchdown against Florida A&M.
His production gives Mensah another major weapon within Miami's offense. More importantly, Toney has shown he can generate game-changing plays without relying solely on volume.
That makes his 12/1 price particularly interesting for bettors considering NCAAF picks.
Other Major Movers Shape the 2026 Heisman Race
Several players outside the top five have also made substantial gains. Mississippi State's Kamario Taylor has made the biggest jump, moving from (150/1 | +15000) to (20/1 |+2000).
Georgia quarterback Gunner Stockton also shortened from (33/1 | +3300) to (22/1 | +2200). Kevin Jennings moved from (75/1 | +7500) to (40/1 | +4000), while Dylan Raiola and Sawyer Robertson also reached (40/1 | +4000).
Meanwhile, Dante Moore has suffered one of the steepest declines. The Oregon quarterback dropped from (11/1 | +1100) to (40/1 | +4000) following Oregon's loss to Oklahoma State.
John Mateer and Marcel Reed also fell to (75/1 | +7500). Bryce Underwood slipped to (80/1 | +8000), while Demond Williams Jr. and Cam Coleman moved further down the board.
For bettors comparing US online sportsbooks, these changes underline how quickly the Heisman market can react to individual performances.
With Week 3 approaching, the leading contenders now have another opportunity to strengthen their cases. The latest NCAAF odds suggest Mensah remains the benchmark, but Smith, Manning and Carr are positioned to challenge him as the season develops.
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Jonathan Rodriguez
Jonathan is an avid basketball fan, and is often looking forward to the next upcoming NBA season when not checking players' stats during games. He also likes to keep his ears on the ground for the latest rumblings in the online casino industry.
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