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Georgia, Alabama among favorites win national championship in way-too-early 2024 CFP title odds

Despite winning Monday night's national championship, Michigan is not one of the top favorites to repeat as champions in 2024. Where does Penn State land among the favorites?

In the final year of the four-team college football playoff, Michigan emerged as the 2023 national champion, defeating Washington, 34-13, on Monday night in Houston to capture their first title since 1997.

While the futures of head coach Jim Harbaugh, quarterback J.J. McCarthy, and others remain uncertain, the Wolverines look like a program that is here to stay among the elite in college football.

As a long offseason begins before the 2024 season starts in August, here’s an early look at which programs are favored to win the 2024 national championship that will feature a 12-team playoff for the first time.

» READ MORE: In a preview of next season’s Big Ten, Michigan pulls away to beat Washington in College Football Playoff title game

2024 CFB National Championship odds (via FanDuel)

(Teams listed at 40/1 odds or better)

  1. Georgia: +350

  2. Alabama: +550

  3. Ohio State: +750

  4. Texas: +850

  5. Michigan: +1000

  6. Oregon: +1200

  7. LSU: +1500

  8. Mississippi: +1600

  9. Florida State: +1800

  10. Penn State: +2500

  11. Notre Dame: +2500

  12. Texas A&M: +3300

  13. Clemson: +3300

  14. Missouri: +4000

  15. Oklahoma: +4000

  16. USC: +4000

  17. Tennessee: +4000

As no surprise, Georgia (+350) and Alabama (+550) pace the odds board, with each team returning its starting quarterback from the 2023 season. Every season, the Crimson Tide and Bulldogs lose considerable talent to the NFL draft, but there’s always an expectation of success from both SEC programs, year in and year out.

Ohio State, which lost quarterback Kyle McCord to Syracuse last month in the transfer portal, recently added former Downingtown West standout and Kansas State quarterback Will Howard. The Buckeyes also got a big boost at running back, adding former Ole Miss running back Quinshon Judkins and return a number of starters defensively.

» READ MORE: Eagles sit in middle of the pack among playoff teams on Super Bowl odds board

Despite the changes, FanDuel oddsmakers value the Buckeyes (+750) over the Wolverines (+1000) to win the 2024 national title, although if McCarthy and/or Harbaugh returns to Ann Arbor, Michigan’s odds to repeat as champions could see a surge.