College Football Playoff Odds: Lines, Betting Trends on First Round Matchups

Patrick Everson Sports Betting Expert

6 minute read

College Football Playoff odds for the First Round are set, with Sunday's release of the latest rankings. Oregon, Georgia, Boise State and Arizona State earned byes as the Nos. 1-4 seeds, respectively, while the other eight teams play Dec. 20-21.

Perhaps the most interesting game in the College Football Playoff odds First Round market: No. 9 Tennessee vs. No. 8 Ohio State. And the CFP opens with Indiana vs. Notre Dame.

Here’s everything you need to know about college football odds for first round playoff games: opening lines, spreads and betting trends, as multiple oddsmakers provide insights on College Football Playoff First Round odds and action. Check back regularly for updates and use our BetMGM bonus code to get the most out of your action.

2024 College Football Playoff Odds First Round

Indiana vs. Notre Dame Odds

• Opening point spread: Notre Dame -9.5
• Opening moneyline: Notre Dame TBA/Indiana TBA
• Opening total: Over/Under 51.5 points scored
• Time: 8 p.m. ET Friday, Dec. 20 (ABC)

UPDATE 5:30 P.M. ET SUNDAY: The SuperBook opened Notre Dame -8 and remains there a few hours later.

"We've had a few tickets on Notre Dame so far," SuperBook executive director John Murray said. "But look at the spreads on these playoff games: 8, 8.5, 11.5, 7. Moneyline parlays are what it's gonna be all about.

"I'm sure moneyline parlays are gonna kick off with Notre Dame."

UPDATE 1 P.M. ET SUNDAY: Notre Dame (11-1 SU/10-2 ATS) suffered a stunning Week 2 home loss against Northern Illinois. But the Fighting Irish followed with a 10-0 SU/9-1 ATS spree to get into the CFP.

No. 7 seed Notre Dame finished the regular season with a 49-35 victory over USC laying 7 points on the road in Week 14. The Irish have the nation's second-best spread-covering mark, behind only Marshall (10-1-1 ATS).

No. 10 Indiana (11-1 SU/9-3 ATS) was a surprise team this season, with its only loss coming at Ohio State in Week 13. In Week 14, the Hoosiers boat-raced Purdue 66-0 laying 28.5 points at home.

Notre Dame hit DraftKings Sportsbook's College Football Playoff Odds First Round market as a 9.5-point favorite. That line was on the move right away and is now at Fighting Irish -8.5. Early spread tickets are almost 2/1 and early spread money 3/1 on Indiana.

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SMU vs. Penn State Odds

• Opening point spread: Penn State -8.5
• Opening moneyline: Penn State TBA/SMU TBA
• Opening total: Over/Under 52.5 points scored
• Time: Noon ET Saturday, Dec. 21 (TNT)

UPDATE 5:30 P.M. ET SUNDAY: Penn State hit The SuperBook's College Football Playoff odds First Round market as 8.5-point chalk. The Nittany Lions remain -8.5 this evening.

"We've had a few people take the 8.5 with SMU so far, but nothing to make us move off that number," SuperBook executive director John Murray said.

More so than early action, Murray marveled at Penn State's fortuitous seed for the playoff.

"They got the best draw in the field. For the sixth seed to get the best draw, you've gotta be pretty lucky," he said. "Penn State has gotta be happy. They get to play SMU, then get to play Boise State. They'll be favored in both games.

"There are a lot of teams that didn't make the field, who'd be pretty sizable favorites vs. SMU."

UPDATE 1 P.M. ET SUNDAY: SMU (11-2 SU/8-5 ATS) got into the CFP as the No. 11 seed. The commission picked the ACC runner-up over Alabama for the final at-large bid.

The Mustangs trailed Clemson 24-7 at halftime of the ACC final, but rallied to tie it at 31 on a touchdown with just 16 seconds left. However, in that 16 seconds, SMU let Clemson get into position for a 56-yard field goal, and the Mustangs lost 34-31 as 2.5-point favorites.

No. 6 seed Penn State (11-2 SU/6-7 ATS) also got an at-large bid after losing the Big Ten title game. The Nittany Lions were 3.5-point underdogs to Oregon and fell short 45-37. Penn State's only other SU loss was to fellow CFP invitee Ohio State.

DraftKings opened Penn State -8.5 (-105) and is down to -8 early in College Football Playoff First Round odds. Spread ticket count is dead even in the first hour, and 68% of early spread cash is on underdog SMU.

Clemson vs. Texas Odds

• Opening point spread: Texas -10.5
• Opening moneyline: Texas TBA/Clemson TBA
• Opening total: Over/Under 53.5 points scored
• Time: 4 p.m. ET Saturday, Dec. 21 (TNT)

UPDATE 6:30 P.M. ET SUNDAY: The SuperBook pegged Texas an 11.5-point favorite and just moved to -11 in College Football Playoff First Round odds.

"That's a fun game, and Texas is a big favorite. We're on the higher end, for sure," SuperBook executive director John Murray said, while noting light betting so far. "This game has the least action of any playoff game so far. People don't know what to do with it.

"Clemson is pretty battle-tested. They played Georgia and South Carolina."

Murray said the Longhorns should consider switching things up under center.

"I think they take the two weeks to switch over to Arch Manning," he said. "They're not gonna do that, but I would consider it."

UPDATE 1 P.M. ET SUNDAY: Texas (11-2 SU/7-6 ATS) had to settle for an at-large bid as the No. 5 seed, after losing the SEC Championship Game. The Longhorns got a waning-seconds field goal to tie Georgia at 16 and force overtime. But Texas then lost 22-19 as 3-point chalk.

That ended a 5-0 SU run for the Longhorns.

No. 12 seed Clemson (10-3 SU/6-6 ATS) blew a 24-7 halftime lead vs. SMU in the ACC Championship Game. The Tigers allowed the Mustangs to tie the game at 31 on a touchdown with just 16 seconds remaining.

But Clemson made the most of those 16 seconds, getting a good kick return, then moving into range for a 56-yard field goal. Nolan Hauser then drilled the kick to give the Tigers a 34-31 win as 2.5-point underdogs.

DraftKings Sportsbook opened Texas -10.5, with no movement yet in odds for College Football Playoff First Round. Early ticket count is almost even, and 63% of early money is on the Longhorns.

Tennessee vs. Ohio State Odds

• Opening point spread: Ohio State -7
• Opening moneyline: Ohio State TBA/Tennessee TBA
• Opening total: Over/Under 46.5 points scored
• Time: 8 p.m. ET Saturday, Dec. 21 (ABC)

UPDATE 6 P.M. ET SUNDAY: This matchup is on the move early in The SuperBook's College Football Playoff odds First Round market. Ohio State opened -7 and moved straight to -8 within a few minutes this afternoon.

"This is the premium match of the four first-round games, and it's the one we've seen the most money on," SuperBook executive director John Murray said. "We took sharp bets on Ohio State -7."

More concerning, as Murray alluded to in discussing Indiana-Notre Dame, are boatloads of moneyline parlays on all four favorites, with Ohio State the clincher.

"You could have a lot of liability on Ohio State. It's the last game of the first round. It's kind of like an NFL playoff weekend," Murray said.

UPDATE 1 P.M. ET SUNDAY: Ohio State (10-2 SU/6-6 ATS) got the No. 8 seed for the College Football Playoff. The Buckeyes had to settle for an at-large bid after their stunning 13-10 loss to Michigan in Week 14, as 19.5-point home favorites.

No. 9 seed Tennessee (10-2 SU/7-5 ATS) went 6-1 SU in its last seven games, with the only loss coming at Georgia. In Week 14, the Vols beat Vanderbilt 36-23 laying 10 points on the road.

Ohio State opened as 7-point chalk in DraftKings' College Football Playoff Odds First Round market. There's no movement yet, but Tennessee is getting all the early action, at 81% of bets/85% of money on the spread.

Patrick Everson

Patrick Everson is a senior reporter for VegasInsider. Based in Las Vegas since 1994, he's worked in the sports betting journalism/content space for more than a decade. He's most known for his deep roster of contacts behind sportsbook counters, providing readers and viewers with the ins-and-outs of how events are being bet. He's also a thought leader in the sports betting space, often appearing on or moderating panels at national conferences. More from Patrick Everson