Heisman Trophy Betting Guide and 2026 Odds and Favorites
Written by: Eddie Griffin
Published: Sun Oct 04, 2026, 9:17 am ET
Read Time: 13 minutes
The Heisman Trophy is the most prestigious individual award in college football, and it's also one of the most popular betting markets of the season. Many of the best online sportsbooks carry Heisman Trophy odds, including Lucky Rebel, BetOnline, and Everygame.
Whether you are new to Heisman Trophy betting or looking to sharpen your strategy, understanding how the award works and what influences voters can help you find value. The information on this page will help enhance your odds of cashing in when the hallowed hardware is handed out each December.
2026 Heisman Trophy Odds and Favorites
Keep up with the latest Heisman Trophy odds and track the top contenders below. Will a wide receiver win the award for just the sixth time this century? Ohio State's Jeremiah Smith is a man on a mission this season, though several talented signal callers are also making a strong case, including a trio of super sophomores in Alabama's Keelon Russell, Mississippi State's Kamario Taylor, and Oklahoma State's Drew Mestemaker.
Odds to Win the 2026 Heisman Trophy
Odds are from Lucky Rebel as of Sunday, October 4, 2026.
| Odds | Players | Implied Probability | True Probability |
| +110 | Jeremiah Smith (WR, Ohio State) | 47.62% | 37.84% |
| +575 | Darian Mensah (QB, Miami (FL)) | 14.81% | 11.77% |
| +800 | CJ Carr (QB, Notre Dame) | 11.11% | 8.83% |
| +850 | Keelon Russell (QB, Alabama) | 10.53% | 8.36% |
| +1400 | Trinidad Chambliss (QB, Ole Miss) | 6.67% | 5.30% |
| +2800 | Arch Manning (QB, Texas) | 3.45% | 2.74% |
| +3300 | Gunner Stockton (QB, Georgia) Malachi Toney (WR, Miami (FL)) |
2.94% | 2.34% |
| +4000 | Julian Sayin (QB, Ohio State) Kamario Taylor (QB, Mississippi State) |
2.44% | 1.94% |
| +4500 | Drew Mestemaker (QB, Oklahoma State) Josh Hoover (QB, Indiana) |
2.17% | 1.73% |
| +5000 | Dante Moore (QB, Oregon) | 1.96% | 1.56% |
| +6000 | Sam Leavitt (QB, LSU) | 1.64% | 1.30% |
| +8500 | Austin Simmons (QB, Missouri) Jadan Baugh (RB, Florida) Nico Iamaleava (QB, UCLA) |
1.16% | 0.92% |
| +9500 | Kevin Jennings (QB, SMU) | 1.04% | 0.83% |
| +10000 | Aaron Philo (QB, Florida) Bear Bachmeier (QB, BYU) Dylan Raiola (QB, Oregon) Jayden Maiava (QB, USC) |
0.99% | 0.79% |
| +15000 | Anthony Colandrea (QB, Nebraska) Colin Simmons (DE, Texas) Devon Dampier (QB, Utah) |
0.66% | 0.53% |
| +20000 | Charlie Becker (WR, Indiana) Conner Weigman (QB, Houston) Lincoln Kienholz (QB, Louisville) Nate Sheppard (RB, Duke) Noah Fifita (QB, Arizona) |
0.50% | 0.40% |
Note: Implied probability converts the listed betting odds into the percentage chance suggested by the sportsbook's price. True probability removes the sportsbook's built-in margin by normalizing the implied probabilities across all listed candidates, providing a no-vig estimate of each player's chances based on the available odds.
Best Heisman Trophy Betting Sites
The best Heisman Trophy betting sites combine competitive odds, a wide range of college football futures markets, and reliable banking options.
While almost every major U.S.-friendly sportsbook offers Heisman Trophy odds, the top operators typically post markets earlier, adjust prices more frequently, and provide a broader selection of college football odds throughout the season.
Futures odds can vary significantly from one sportsbook to another, especially during the preseason and the early weeks of the college football season. Comparing prices before placing a wager (also known as line shopping) can increase your potential payout without requiring you to make a different prediction.
Many of the best online sportsbooks also feature welcome bonuses that can provide additional value when betting college football futures.
Here are some of the top sportsbooks for Heisman Trophy betting:
- Lucky Rebel – Competitive Heisman Trophy odds, fast payouts, and a full menu of college football futures.
- BetOnline – One of the first sportsbooks to release Heisman Trophy odds and one of the deepest college football betting menus available.
- Everygame – User-friendly sportsbook with solid futures markets and dependable customer service.
- SportsBetting.ag – Strong selection of college football props, futures, and live betting markets throughout the season.
- Bovada – Popular choice for recreational bettors with a straightforward betting interface and extensive futures offerings.
No matter which sportsbook you choose, always compare odds before placing your bet. Even small differences in futures prices can have a meaningful impact on your long-term returns, particularly when betting on players with longer odds.
What Is the Heisman Trophy?
The Heisman Memorial Trophy has been awarded annually since 1935 to the most outstanding player in college football. Created by the Downtown Athletic Club, the award was renamed in 1936 to honor John Heisman, the club's athletic director.
The iconic bronze statue shows a running back performing a stiff-arm. Voting uses a 3-2-1 point system where each ballot ranks the top three players. As of 2025, there are 870 media votes across six regions, plus votes from previous Heisman winners and one fan vote.
The Heisman Trophy winner is announced each December at a ceremony in New York City after the regular season and conference championships.
Only one player has won twice: Ohio State running back Archie Griffin in 1974 and 1975. Ten Heisman winners are in the Pro Football Hall of Fame, including Barry Sanders (1988) and Tony Dorsett (1976).
Types of Heisman Trophy Bets
Heisman Trophy betting offers the chance to wager on individual performance throughout an entire season. Early-season futures bets on eventual winners can deliver huge payouts, especially on longshot candidates.
The most widely available Heisman Trophy betting market is betting outright on the winner. But some sports betting sites offer other markets, especially as the regular season winds down and the award announcement draws closer.
Not all of these markets are widely available, but here are some of the options Heisman Trophy bettors may have at college football betting sites such as Lucky Rebel, BetOnline and Bovada.
- Heisman Trophy Futures: Bet on which player will win the award. Odds are posted before the season and adjust weekly based on performance.
- Positional Props: Wager on which position will produce the winner. Quarterbacks and running backs historically dominate.
- Finalist Props: Bet on whether specific players will be named as finalists. Four finalists are officially invited to the ceremony each year.
- Head-to-Head Matchups: Compare two players' Heisman chances directly, particularly late in the season.
- Conference Props: Bet on whether a player from a specific conference will win the award.
Key Factors to Consider for Heisman Trophy Betting
Team Success: Winners almost always come from teams with winning records competing for conference titles or College Football Playoff spots. A player on a one-loss team has better odds than someone with amazing stats on a losing team.
Statistics: Numbers matter. Quarterbacks need elite touchdown-to-interception ratios, while running backs need huge rushing totals. Boise State's Ashton Jeanty rushed for 2,497 yards and 29 touchdowns in 2024, the second-biggest regular-season total in FBS history.
Big Game Performances: Prime-time games, rivalry matchups, and nationally televised contests carry extra weight. Some of college football's biggest rivalries have been the stage for Heisman moments, and voters remember game-winning drives and dominance against ranked opponents.
Position Bias: Quarterbacks dominate modern Heisman Trophy voting. As of 2024, when Colorado wide receiver/cornerback Travis Hunter won the award, there have been as many non-quarterback wins from 2000 to 2024 as there were from 1994 to 1999 (five).
Storyline: Narrative matters. Travis Hunter became the first full-time two-way player to win since the early 1960s.
Transfer quarterbacks, comeback stories, and record-chasing performances create compelling narratives. For example, the 2025 Heisman winner and runner-up, Indiana quarterback Fernando Mendoza and Vanderbilt quarterback Diego Pavia, steered their respective schools to unprecedented success.
Late-Season Momentum: Performance in November and conference championship games significantly impacts Heisman odds. Players who shine late often surge up the rankings.
Heisman Trophy Betting Strategies
Find Early Value
The best time to place bets on Heisman odds may well depend on who you are eyeing, but preseason favorites rarely offer real value. Four of five Heisman presentations between 2015-2019 included at least one finalist who started at 100:1 odds or higher. In fact, Joe Burrow's 2019 odds ranged from 40:1 to 200:1 early in the season.
Track Line Movement
Heisman Trophy odds can change dramatically throughout the season as players rise and fall in the race. Tracking line movement and watching how the market reacts to standout or subpar performances, injuries, and team results can help you identify momentum and spot value before the odds fully adjust.
Hedge Your Bets
If your player becomes the Heisman Trophy favorite or drops in the odds, consider betting smaller amounts on other contenders.
Bad beats don't happen with futures in the same way that they do with game odds, but favorites do sometimes get overtaken in the homestretch, whether due to injury, poor performance, or another contender just ripping the award away with their own standout showings.
Exercise good judgment on what you bet on and the amounts you bet, especially when weeks of games remain.
Watch Team Records
If your Heisman hopeful's team starts losing, their odds will drop fast regardless of individual stats. Players on unexpectedly successful teams see their odds improve dramatically.
Following your candidate's upcoming matchups as part of your college football betting checklist can help you identify potential turning points in the Heisman race.
Understand Position Bias
Betting on non-quarterbacks requires exceptional circumstances. Travis Hunter was the first defensive player to win since Charles Woodson in 1997, and his two-way ability made him unique.
Understanding recent and historical trends is key for Heisman bettors, but it is worthwhile to keep an eye on outstanding seasons by other players, especially prolific running backs or game-breaking wide receivers from CFP contenders.
Conference Championship Weekend Matters, But How Much?
The final weekend before voting often determines the winner. Outstanding performances can swing momentum, while poor showings may sway last-minute voters to look a different direction. However, be careful to overvalue performances, whether positive or negative.
Avoid Hype
The most popular tickets are not always smart bets.
While fading the public shouldn't be an automatic strategy, heavily hyped Heisman candidates can attract attention that isn't always justified by their odds or actual chances of winning.
This caution applies especially if you are betting on your favorite players, as personal fandom can make it easier to overestimate a candidate's chances. Bet on substance, not just fan or media buzz.
Heisman Trophy History
The Heisman Trophy's history spans nine decades of college football excellence. Understanding past trends helps both appreciation of the award and betting decisions.
Notable Heisman Trophy Facts
Only Archie Griffin has won twice, doing so in consecutive years. The closest margin was in 2009 between Alabama running back Mark Ingram II and Stanford running back Toby Gerhart. The oldest winner was Chris Weinke at 28 in 2000, while Lamar Jackson was the youngest at 19 in 2016.
USC has the most Heisman trophies with eight. Ohio State, Oklahoma, and Notre Dame each have seven. Reggie Bush forfeited his 2005 title in 2010, but it was reinstated and the trophy was returned to him in 2024 after rule changes regarding player compensation.
Position Trends
Quarterbacks increasingly dominate the award, reflecting modern pass-heavy football.
Only Charles Woodson (1997) and Travis Hunter (2024) played defense full-time, making defensive Heisman bets extremely risky.
Heisman Trophy Winners (2016-Present)
Note: Players in bold also won the national championship in their Heisman-winning season.
| Year | Winner | School | Pos | Runner-up | Runner-up School | Winner Points | Runner-up Points | Margin |
| 2025 | Fernando Mendoza | Indiana | QB | Diego Pavia, QB | Vanderbilt | 2,362 | 1,435 | 927 |
| 2024 | Travis Hunter | Colorado | WR/CB | Ashton Jeanty, RB | Boise State | 2,231 | 2,017 | 214 |
| 2023 | Jayden Daniels | LSU | QB | Michael Penix Jr., QB | Washington | 2,029 | 1,701 | 328 |
| 2022 | Caleb Williams | USC | QB | Max Duggan, QB | TCU | 2,031 | 1,420 | 611 |
| 2021 | Bryce Young | Alabama | QB | Aidan Hutchinson, DE | Michigan | 2,311 | 954 | 1,357 |
| 2020 | DeVonta Smith | Alabama | WR | Trevor Lawrence, QB | Clemson | 1,856 | 1,187 | 669 |
| 2019 | Joe Burrow | LSU | QB | Jalen Hurts, QB | Oklahoma | 2,608 | 762 | 1,846 |
| 2018 | Kyler Murray | Oklahoma | QB | Tua Tagovailoa, QB | Alabama | 2,167 | 1,871 | 296 |
| 2017 | Baker Mayfield | Oklahoma | QB | Bryce Love, RB | Stanford | 2,398 | 1,300 | 1,098 |
| 2016 | Lamar Jackson | Louisville | QB | Deshaun Watson, QB | Clemson | 2,144 | 1,524 | 620 |
Conclusion
The Heisman Trophy betting market rewards bettors who do their homework. The 2024 race showed modern dynamics perfectly: Travis Hunter won with 2,231 points, capitalizing on his two-way excellence and compelling story.
Success in Heisman Trophy betting comes from identifying early value, understanding position trends, and recognizing that team success and individual stats must align. Quarterbacks on highly successful teams almost always have the advantage.
The Heisman Trophy odds provide season-long entertainment and potential for significant returns. Whether betting for fun or hunting serious value, remember the golden rule: team success matters as much as individual performance.
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