Heisman Trophy Odds & Betting Favorites For 2025

The Heisman Trophy odds market is building to a crescendo. 

With the college football season now in its final stretch, this mega-popular college football odds market is reaching maturity with a handful of primary contenders.

I monitor the Heisman Trophy odds daily throughout the season, providing ongoing updates and analysis in this comprehensive blog article. 

If you’re as obsessed with college football as I am, you’ll want to bookmark this page and visit regularly.    

Let’s break it down.

Heisman Trophy Odds

Heisman Trophy Prediction 2025

Based on the current futures market, Fernando Mendoza has an implied 92.3% chance to win the 2025 Heisman Trophy.

Heisman Watch 2025: Welcome to Heisman Week

With the Heisman Trophy set to be awarded this week, the market seems pretty convinced that Fernando Mendoza will win the Heisman Trophy.

Mendoza, the quarterback of No. 1 Indiana, has occupied a favorite or near-favorite status for most of the last two months. But now that Indiana defeated Ohio State and won the Big Ten championship, Mendoza is a prohibitive favorite.

The price may be a overreaction to Indiana’s conference championship win. Diego Pavia was pushing Mendoza for the lead in straw polls as recently as a few days ago, and straw poll voters obviously knew that someone had to win the Big Ten. 

Will Mendoza’s pristine, undefeated status and 222 passing yards from Saturday’s game clearly overtake Pavia when the votes are cast? That’s a question for this weekend. For now, the buy points are so dramatic that late-arriving bettors really won’t have much of an opportunity to get down with Mendoza.

Heisman Odds: Fernando Mendoza

Fernando Mendoza, the Indiana quarterback, is currently -1200 to win the Heisman Trophy. 

Mendoza has helped make Indiana – the Hoosiers! – a bona fide national championship contender. His offensive mastery, paired with head coach Curt Cignetti’s eye for talent and program leadership, has turned a basketball blue blood into a football juggernaut.

Indiana had more than one moment of brilliance this season, but maybe none in the history of the program will top Saturday’s championship win over Ohio State.

Many bettors and analysts believed the quarterback who won the Big Ten title game would also win the Heisman. I wrote about why that’s not necessarily true last week, but the market – at least for now – remains in line with that theory. 

As long as Mendoza remains this heavy of a favorite, few bettors will want to risk so much for so little return. 

Heisman Odds: Diego Pavia

Diego Pavia, the Vanderbilt quarterback, is currently +700 to win the Heisman Trophy. 

Pavia is a scrappy playmaker who’s made a name for himself the hard way, grinding out wins at nontraditional winners like Vandy and New Mexico State. It’s one reason why college football fans love him.

Pavia finished the regular season with nearly 3,200 passing yards and 36 total touchdowns, earning huge wins against Tennessee, Missouri, and LSU. It’s the first 10-win season in the 122-year history of Vanderbilt football. His QBR ranks fourth nationally.

At this point, why can’t Pavia win the Heisman? After underlining his candidacy with a big finale win in Knoxville, I think it just might be on the table. 

Pavia didn’t get the chance for an extra win during conference championship week, so Mendoza is the rightful favorite here. But I absolutely believe Pavia has a chance to win, and so the 7-to-1 serves as a useful value buy, if nothing else. His personal story rivals the drama of the Indiana football turnaround, and the Heisman Trophy doesn’t get awarded to a team.

Heisman Odds: Jeremiyah Love

Jeremiyah Love, the Notre Dame running back, is currently +15000 to win the Heisman Trophy.

Love has come on strong late in the season, putting up some absolutely blistering totals in the process. In Week 13, he averaged a very stupid 21.4 yards per carry against Syracuse, finishing the game with 171 rushing yards and three touchdowns.

Prior to Notre Dame’s Week 14 game at Stanford, Love had at least 100 scrimmage yards and a touchdown in five straight games. Often, he’s way above those numbers, like when he powered Notre Dame to a crucial win over USC in Week 8 with 265 scrimmage yards.

The late-season charge has earned him some, uhh… love. The Heisman market gave him a big adjustment after the Syracuse game, moving him from +4000 to +500 overnight. 

Since then, Love has been re-adjusted back up, and that could be at least partially because Notre Dame won’t play again until after the Heisman Trophy is awarded. Unlike Mendoza and Sayin, Love will be denied the extra data point of a conference championship game. 

He’s a likely Heisman finalist, but his prospects to actually win the award may be quite low.

Heisman Odds: Julian Sayin

Julian Sayin, the Ohio State quarterback, is currently +50000 to win the Heisman Trophy. 

Sayin was a popular Heisman betting target throughout the second half of the season, but most straw polls never quite put him at the top of the market. From a fundamentals perspective, that made it harder to justify a Sayin bet at a top-shelf price point.

Still, Sayin’s late-season betting popularity made him nearly the top ticket at BetMGM. As of Dec. 8, he’s got 8.2% of all tickets at BetMGM, trailing teammate Jeremiah Smith by only a fraction of a percentage. 

After Ohio State lost the Big Ten championship, Sayin took a huge adjustment. It seems unlikely he’ll receive any meaningful number of first-place votes in the final tally on Saturday.

Previous Heisman Trophy Winners