Updated betting odds for the 2026 Heisman Trophy were released on October 16, 2026, identifying the current favorites for college football's top award. The pricing on the board reflects a combination of player production, team success, and television broadcast windows.
Jeremiah Smith, a wide receiver for Ohio State, is the current favorite with odds of -210 according to FanDuel, representing a 67.7% implied probability. Darian Mensah, a quarterback from Miami, sits as the second favorite at +1000 via bet365, which carries a 9.1% implied probability. CJ Carr, a quarterback for Notre Dame, is the third favorite at +1200 with a 7.7% implied probability.
Other notable candidates include Trinidad Chambliss of Ole Miss and Gunner Stockton of Georgia, both listed at +1500. Keelon Russell of Alabama is positioned at +2000, while Julian Sayin and Drew Mestmaker of Ohio State and Oklahoma State respectively both carry odds of +4000.
The betting market experienced significant movement this week for several players. Aaron Philo saw his odds drift from +5000 to +35000, a 211% change. Jadan Baugh moved from +7750 to +22500, while Keelon Russell's odds shifted from +700 to +1650. Sam Leavitt also saw a 129% change, moving from +6000 to +13750.
The Heisman Trophy market is influenced by factors beyond simple statistics. A player's value is shaped by whether they are playing on a ranked team in a featured television window. This complexity means that a player with a high statistical output on a losing team may rank lower than a player with lighter statistics playing in a prominent broadcast slot.
For those looking at the long end of the board, Maddux Madsen of Boise State is listed at +50000. The market remains volatile, as a single game or injury can cause significant shifts in a player's perceived value.
