Each week this college football season, BetFTW will take a look at the 2023 Heisman Trophy race and break down the contenders. Check back each Tuesday as the best college football players in the country jockey for position with both oddsmakers and bettors. Check out preseason odds here.
Week 0 has come and gone and by the end of the season we most likely won’t be talking about what Caleb Williams did to San Jose State. But seeing as that’s all we really have to go on right now, we’re going to over-analyze it.
As the full slate of college football kicks off on Thursday, here’s a look at where the Heisman odds stand at BetMGM.
No. 10: Alabama QB Jalen Milroe, Oklahoma QB Dillon Gabriel, Arkansas QB K.J. Jefferson, South Carolina QB Spencer Rattler (+5000)

Kevin Jairaj-USA TODAY Sports
Odds Last Week:
- Spencer Rattler (+6600)
- K.J. Jefferson (No Change)
- Dillon Gabriel (No Change)
- Jalen Milroe (No Change)
No. 9: Michigan RB Blake Corum, Texas A&M QB Conner Weigman (+4000)

(Photo by Mike Mulholland/Getty Images)
Odds Last Week:
- Blake Corum (+2800)
- Conner Weigman (No Change)
No. 8: Ohio State, QB, Devin Brown (+3300)

(AP Photo/Jay LaPrete, File)
Odds Last Week:
- +3500
Kyle McCord is getting the start for Ohio State in the season-opener against Indiana, but it appears the Buckeyes’ QB battle hasn’t been entirely settled just yet with Brown expected to get reps.
Ryan Day says Ryan McCord will start behind center when Ohio State opens against Indiana but the QB battle with Devin Brown will continue. https://t.co/2GgzpKRKMi
— USA TODAY Sports (@usatodaysports) August 29, 2023
No. 7: Penn State QB Drew Allar, Ohio State WR Marvin Harrison Jr., Ohio State QB Kyle McCord, Tennessee QB Joe Milton (+2500)

Joseph Scheller-The Columbus Dispatch
Odds Last Week:
- Drew Allar (No Change)
- Marvin Harrison Jr. (+2000)
- Kyle McCord (+2000)
- Joe Milton (No Change)
No. 6: Georgia QB Carson Beck, North Carolina QB Drake Maye (+1800)

Bob Donnan-USA TODAY Sports
Odds Last Week
- Carson Beck (No Change)
- Drake Maye (No Change)
No. 5: Michigan QB J.J. McCarthy, Notre Dame QB Sam Hartman, Oregon QB Bo Nix (+1600)

(Photo by Charles McQuillan/Getty Images)
Odds Last Week:
- J.J. McCarthy (No Change)
- Sam Hartman (No Change)
- Bo Nix (No Change)
Sam Hartman’s odds remaining unmoved by his 251-yard, four touchdown debut for Notre Dame may say more about how bad Navy was than anything else.
No. 4: Clemson QB Cade Klubnik, Washington QB Michael Penix Jr. (+1400)

(Photo by Eakin Howard/Getty Images)
Odds Last Week:
- Cade Klubnik (No Change)
- Michael Penix Jr. (+1200)
No. 3: Texas QB Quinn Ewers, Florida State QB Jordan Travis (+1200)

(AP Photo/Phil Sears)
Odds Last Week:
- Quinn Ewers (+1100)
- Jordan Travis (+1600)
No. 2: LSU QB Jayden Daniels (+1000)

(AP Photo/Michael Woods)
Odds Last Week:
- +900
With LSU and Florida State facing off in Orlando on Sunday, odds for both Daniels and Jordan Travis are sure to feel a big impact regardless of which side wins. But considering how early it is in the season, this might be a “buy the dip” situation for the losing QB.
No. 1: USC QB Caleb Williams (+475)

(Photo by Ron Jenkins/Getty Images)
Odds Last Week:
- +500
Williams stays on top after a scorching start to his Heisman defense. The Trojans star passed for 278 yards and four touchdowns with 18 completions on 25 attempts against San Jose State. Compare that to the 249 yards and two touchdowns Williams passed for in his 2022 season debut against Rice.
Given how porous the USC defense looked against a much inferior opponent, Williams may have to manufacture a ton of points this season. That’s great for his Heisman campaign but probably not what the Trojans had in mind for building a college football playoff contender.