College Football Playoff Odds: Lines, Betting Trends on Semifinal Matchups

Patrick Everson Sports Betting Expert

5 minute read

College Football Playoff odds for the semifinals are getting kicked around, now both matchups are in place.

On deck first in College Football Playoff semifinal odds: Penn State vs. Notre Dame in the Orange Bowl. Then comes Ohio State vs. Texas in the Cotton Bowl.

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

2024-25 College Football Playoff Odds Semifinals

Penn State vs. Notre Dame Odds

• Opening point spread: Notre Dame -1.5
• Opening moneyline: Notre Dame -120/Penn State even
• Opening total: Over/Under 47.5 points scored
• Time: 7:30 p.m. ET Thursday, Jan. 9 (ESPN)

UPDATE 9 P.M. ET THURSDAY: With 90 minutes to marinate tonight, The SuperBook moved Notre Dame from -1 to -1.5 in the College Football Playoff odds for the semifinals. That's in slight contrast to spread play so far.

"We got a couple small bets on Penn State spread," SuperBook risk manager Casey Degnon said. "But we've got more action on the moneyline than on the spread. There's more money on Penn State and more tickets on Notre Dame.

"I think we'll see good two-way on this game, with two popular teams. We might not know who we really need until kickoff."

The total quickly slid from 48.5 to 47, with stops at 48/47.5 along the way. Degnon said there were some small bets on the Under, but nothing too significant.

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UPDATE 7:30 P.M. ET THURSDAY: Notre Dame (13-1 SU/12-2 ATS) earned a spot opposite Penn State in the Orange Bowl. The Fighting Irish stifled Georgia throughout tonight's Sugar Bowl, winning 23-10 as 1-point favorites.

Along with its defense, a huge key for Notre Dame was Jayden Harrison's 98-yard kickoff return for a touchdown to open the second half. That put the Irish up 20-3, which proved insurmountable.

Notre Dame heads to the semis on a 12-game SU tear and has cashed in its last 10 games. Penn State is 6-1 SU/5-2 ATS in its last seven games.

DraftKings Sportsbook opened the Fighting Irish -1.5 in College Football Playoff semifinal odds. The total opened at 47.5. There's no movement yet on the spread or total.

UPDATE 5:30 P.M. ET WEDNESDAY, JAN. 1: DraftKings Sportsbook reopened College Football Playoff semifinal odds for the two prospective Orange Bowl matchups.

Prior to Penn State's win over Boise State, DraftKings had the Nittany Lions as 2.5-point underdogs to Georgia. That matchup is now at Penn State +1.

DraftKings had Penn State as a 1.5-point 'dog to Notre Dame. That matchup is also now at Penn State +1.

UPDATE 11:15 P.M. ET TUESDAY, DEC. 31: No. 6 seed Penn State (13-2 SU/8-7 ATS) let Boise State hang around for significant stretches in the Fiesta Bowl. But the Nittany Lions eventually slammed the door with two defensive stops and a huge TD, winning 31-14 as 11.5-point favorites.

Nicholas Singleton's 58-yard touchdown run with 4:54 remaining sealed the deal. Next up for Penn State: No. 7 seed Notre Dame or No. 2 seed Georgia, who meet Thursday in the postponed Sugar Bowl.

Prior to the Nittany Lions' win, DraftKings Sportsbook already had College Football Playoff semifinal odds up for the two possible matchups. Penn State was a 2.5-point underdog to Georgia and a 1.5-point pup to Notre Dame in the Orange Bowl.

Orange Bowl odds are now off the board. Once the matchup is set and the game reopens, don't be surprised if those numbers adjust.

Texas vs. Ohio State Odds

• Opening point spread: Ohio State -4.5
• Opening moneyline: Ohio State -192/Texas +160
• Opening total: Over/Under 52.5 points scored
• Time: 7:30 p.m. ET Friday, Jan. 10 (ESPN)

UPDATE 10 P.M. ET WEDNESDAY, JAN. 1: Back on Dec. 24, The SuperBook put up a prospective lookahead line of Ohio State -1.5 vs. Texas. When prospective became reality earlier this evening, the Buckeyes opened -6.5 in College Football Playoff odds for the semifinals.

"Ohio State looked so good today, and Texas looked questionable," SuperBook risk manager Casey Degnon said, before addressing early action on the Cotton Bowl. "We went right to 6. Then there were a couple bets on Ohio State spread and moneyline, and a couple small bets on the Over as well.

"But nothing too significant yet."

Degnon has an idea of how this evolves between now and Jan. 10.

"I think the spread will have decent two-way action. But once you add in moneyline parlays and teasers, I think we'll be rooting for Texas," he said.

The total hasn't moved off 54 in College Football Playoff semifinal odds.

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UPDATE 8:30 P.M. ET WEDNESDAY, JAN. 1: Texas (13-2 SU/8-7 ATS) blew all of a 24-8 fourth-quarter lead vs. Arizona State, going to overtime tied at 24 in the Peach Bowl. The teams then exchanged touchdowns in the first OT to remain tied at 31.

The Longhorns followed with a touchdown/2-point conversion to open the second overtime. Texas then picked off Sam Leavitt to seal a 39-31 win, while failing to cash as hefty 13.5-point chalk.

Ohio State (12-2 SU/8-6 ATS) didn't have nearly that much trouble tonight, putting a beatdown on No. 1 seed Oregon. The Buckeyes led 34-0 late in the second quarter and coasted to a 41-21 victory as 2.5-point Rose Bowl favorites.

About 20 minutes ago, DraftKings Sportsbook opened Ohio State-Texas at Buckeyes -4.5. That line is already up to Ohio State -6.5. Likewise, the total is on the move early, from a 52.5 opener to 54.5.

UPDATE 11:15 P.M. ET TUESDAY, DEC. 31: Among the seven remaining teams, Texas is the +320 favorite to win the national title at DraftKings. But the No. 5 seed Longhorns (12-2 SU/8-6 ATS) first have to get through No. 4 Arizona State (11-2 SU and ATS).

The winner of that Peach Bowl matchup gets a Jan. 10 date with Ohio State or Oregon in the Cotton Bowl. The top-seeded Ducks (13-0 SU/7-6 ATS) and eighth-seeded Buckeyes (11-2 SU/7-6 ATS) meet in Wednesday's Rose Bowl.

DraftKings already has College Football Playoff semifinal odds on the board for the four possible Cotton Bowl matchups:

• Oregon -1.5 vs. Texas
• Oregon -13 vs. Arizona State
• Ohio State -2 vs. Texas
• Ohio State -13.5 vs. Arizona State

Those numbers will come off the board Wednesday. And there will likely be some adjusting once the matchup is set and DK reopens the game.

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