Alabama, Ohio State dominate Caesars' CFB 2023 betting predictions
August 4, 2022
The college football season is just around the corner, and plenty of teams are hoping to claim the title. However, two groups of favorites dominate the betting action at Caesars sportsbook, Alabama and Ohio State.
When the futures for 2023 were released on January 10, Alabama was listed as the favorite to win the title at +250. The other two teams, Ohio State and Georgia were listed at +450 and +700, respectively. On the next day, a $10,000 bet from an Indiana gambler led to the creation of a co-favorite between the Georgia and Alabama. The day after, Alabama was the clear leader in the betting action when it dropped to +200.
A Nevada gambler placed a $100,000 bet on Alabama on June 30, which immediately decreased the team odds to +180. The other two teams, namely Georgia and Ohio State, have also been affected by the spread. On April 16, Ohio State was +425, and on June 29, it was +375. The following day, the Georgia football team was +400.
According to Joseph Feazel, the lead college football trader at Caesars Sportsbook, the increasing popularity of Ohio State and Alabama has separated them from the pack. He noted that the two teams have been the most dominant groups in the betting action.
“This looks like a generational team for Alabama and bettors are in love with Ohio State,” said Feazel. “These two have definitely separated themselves from the pack in terms of action. Alabama has to be up there for biggest preseason favorites recently, I can’t think of many teams that had lower odds than them in July.”
Alabama dominates CFB futures, Georgia not so much
For the past 10 years, the only team with lower odds of winning the national title than Alabama was the 2018 Alabama. The team was listed as the favorite to win the title at +175 before it lost to the eventual champion, the University of Clemson.
The total amount of money bet on the college football national title game in 2023 at Caesars Sportsbook was $33.7 million, with Alabama leading the way with over 30 percent. Ohio State and Georgia are close behind with 24.6 percent and 22.4 percent, respectively.
Despite being the second-favorite, Georgia is not even close to being third regarding the number of tickets and dollars bet on the game. Texas A&M is currently ahead with 7.6 percent of the total tickets, while USC and LSU are coming in with 7 and 7.3 percent. On the other hand, Georgia is currently fourth with a handle of 5.4 percent.
"Georgia should be in the conversation when it comes to November and in the SEC title game, that’s going to give them a good enough chance. Even if they lose the SEC title game, there’s a path for them to still get in [the College Football Playoff],” Feazel said.
According to Feazel, he was surprised by how little interest the public had in the team. The lead trader said the team has an easier schedule than its rivals and should be considered a legitimate threat to win the national title.
“What I’m surprised to see is how little interest Georgia has gotten compared to Alabama and Ohio State,” he said. “They arguably have an easier schedule than Alabama, they should be double-digit favorites in almost every game they play."