Heisman Trophy Odds, Market Report: J.J. McCarthy Takes Over as Favorite

Credit:

Via Aaron J. Thornton/Getty Images. Pictured: J.J. McCarthy #9 of the Michigan Wolverines runs with the ball during the second half of a college football game against the Indiana Hoosiers at Michigan Stadium on October 14, 2023 in Ann Arbor, Michigan. The Michigan Wolverines won the game 52-7.

Chase Howell

Oct 23, 2023, 01:40 PM EDT

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Just one week after Michael Penix Jr. became the clear favorite to win the Heisman Trophy, there is now a new leader with the shortest odds to win the most prestigious trophy in all of sports.

Michigan quarterback J.J. McCarthy is now the favorite to win the Heisman at BetMGM with +240 odds. That gives him 29.1% implied odds to take the trophy after Week 8 of the college football season.

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McCarthy has led Michigan to an 8-0 record this season, and the Wolverines are the odds-on favorites to win the College Football Playoff this season despite cheating allegations.

McCarthy has thrown for 1,799 yards along with 18 touchdowns and three interceptions. He ranks 33rd in the country in passing yards and eighth in the country in touchdowns. However, he leads the FBS in QBR.

McCarthy is getting 5.2% of the bets and accounts for 6% of the handle at BetMGM.

Penix was the Heisman favorite heading into the week at -145 but is now +300 after his Washington offense sputtered against Arizona State. It was just the second time all season that Penix failed to throw for a touchdown, and his 275 passing yards were his fewest of the season.

Penix is getting 5.5% of the bets and accounts for 11.2% of the handle at BetMGM.

LSU quarterback Jayden Daniels has also jumped up into the Heisman discussion at +375. Daniels is second in the nation in passing yards and leads the nation in passing touchdowns with 25.

Shedeur Sanders is the biggest liability to win the Heisman at BetMGM. He is getting 18% of the bets and accounts for 16.9% of the handle but is currently +25000 to win the Heisman.