Heisman Trophy Updated Odds and Market Report: Caleb Williams Has the Race All But Wrapped Up

The Heisman race has been quite the roller coaster throughout the 2022 college football season.

The season started with Alabama's Bryce Young and Ohio State's CJ Stroud as the clear favorites for the Heisman. Young took an early dropoff with some of Alabama's struggles this season with lesser receiving talent around him.

Stroud has always stayed in the mix. Tennessee's Hendon Hooker jumped into the conversation after the Vols' win over Alabama, but that didn't last long. Michigan's Blake Corum has stayed mostly on the outside looking in.

None of those guys appear to be winning the Heisman Trophy.

With Conference Championship Week yet to be played, there is a clear-cut favorite to win the Heisman Trophy–USC quarterback Caleb Williams.

Williams is currently -2500 to win the Heisman at BetMGM. He opened at +800 and was +125 to win the award just last week.

But after a loss and a disappointing performance from Stroud while Williams tore up Notre Dame to keep his team in the conversation for the College Football Playoff, Williams has vaulted himself ahead as a heavy favorite.

Williams was 18-for-22 passing for 232 yards and one touchdown against Notre Dame. He also added three touchdowns on the ground and looked impossible to stop all night long.

At -2500 odds, that gives Williams a 96.15% implied probability of winning the Heisman Trophy.

Stroud became a massive liability for the books throughout the season. He is getting 11.3% of the bets and accounts for 46.3% of the handle at BetMGM.

And it appears the books can breathe a sigh of relief.

Hooker was also a liability for BetMGM as he got 10.1% of the tickets and 8.8% of the handle.

Williams was actually not a liability for BetMGM as he received 7.3% of the bets and 5.6% of the money.

The only other major liability for the books was Kansas quarterback Jalon Daniels.