Heisman Trophy Odds: Ranking betting favorites after Week 3 of college football

The college football season will reach about a month in by the end of this weekend, with several players having made their case as some of the sport’s best through three games or so. Still, the race for The Heisman Trophy is completely wide open right now based on the latest odds from BetMGM.

BetMGM has updated its Heisman odds coming out of Saturday’s action in Week 3. Their lines saw several shifts among those at (+3000) or better, including a new player atop the board. 18 of the 19 listed are then quarterbacks while one wide receiver made the top-ten with improved odds of (+1600).

Here are those updated odds from BetMGM as to who could win The Heisman Trophy in 2025:

Miami QB Carson Beck (+700 – up from +850)

Miami QB Carson Beck is the new leader on the board from BetMGM in odds to win the Heisman. He went from second, behind a tie for first, to first alone coming off his latest performance in what has been a resurgence for him at The ‘U.

Beck was 23-28 (82.1%) for 340 yards, three touchdowns, and two interceptions, while also rushing for a score, in the 49-12 win for the Hurricanes, who are still undefeated, over USF on Saturday, which brings him to 812 yards for seven passing touchdowns and the two picks on 79.3% completion. That has him more on pace with his career-year in 2023 than what happened last season in 2024, both while at Georgia, as Beck looks back to being one of the best quarterbacks in the country, as evidenced here as the Heisman favorite, with more games coming up to solidify that standing in South Beach.

Oklahoma QB John Mateer (+900)

Oklahoma QB John Mateer did break the tie he was in for first place in these odds coming out of Week 2. However, as he remained at the same number, Beck surpassed him, with the Sooners’ quarterback sitting in second in Heisman odds at BetMGM.

Mateer has posted 944 passing yards, five touchdowns, and three interceptions on 67.6% completion while rushing too for 161 yards and four touchdowns, bringing him to 368.4 total yards per game with nine touchdowns scored for OU. Now, amidst a 3-0 start for the Sooners after Saturday’s win over Temple, Mateer will get his chance to keep himself in contention with conference play starting this weekend in Norman.

Oregon QB Dante Moore (+1100)

Being the Ducks’ QB1 has been a good place to be the past two seasons as far as being a finalist for the Heisman. That’s where Oregon QB Dante Moore finds himself, as he remains in third in the odds for BetMGM.

Going 16-20 (80%) for 178 yards, a touchdown, and an interception in a 34-14 win at Northwestern on Saturday, Moore is posting 78.1% completion for 657 yards, seven touchdowns, and that lone pick for a top-five offense in the sport at 54 ppg.. That pace, which is already well on its way to surpassing what he did in his first collegiate year as a starter elsewhere, has him right on track to be the program’s next quarterback to get to travel from Eugene to New York City in December.

Georgia QB Gunner Stockton (+1200 – up from +1500)

With questions about him still last week, Georgia QB Gunner Stockton found himself in a three-way tie for third in Heisman odds. But, with a big performance in a key victory on the road, in conference play, and in overtime, he now sits alone in fourth according to BetMGM.

Stockton, in leading a comeback for the Bulldogs on Rocky Top, had a career game to this point as he was 23-31 (74.2%) for 304 yards and two touchdowns while also rushing for another score. That brings him to 70.8% completion for 721 passing yards and four touchdowns, with 824 yards overall and seven scores in total, which should keep him in contention, especially if the ‘Dawgs continue to win at the rate we know that they can.

LSU QB Garrett Nussmeier (+1500 – down from +900)

One of the bigger drops on the board was that of LSU QB Garrett Nussmeier. He went from a tie with Mateer in first at (+900) to a tie in fifth at (+1500) amidst some early-season struggles for he and the offense of the Tigers.

Nussmeier, as part of an LSU offense averaging just 20 ppg. through three, has posted just 65.1% completion for 689 yards, three touchdowns, and two interceptions, as he’s coming off season-worst outing at 55.6% completion for 220 yards, a touchdown, and a pick in the 20-10 win over Florida on Saturday. But, on Monday, Brian Kelly revealed the Tigers’ quarterback is managing an injury to his torso, which might explain the lack of production and could suggest he can improve his standing here with better statistics moving forward as he gets healthier.

Texas A&M QB Marcel Reed (+1500 – up from +2,500)

On the flip side, the biggest jump in the odds came from Texas A&M QB Marcel Reed. He was already among the top players in odds as of last week, but what he did this past weekend in South Bend shot him up into a tie at (+1500) within the top-five at BetMGM.

In a 41-40 win at Notre Dame on Saturday night, Reed was only 17-37 (46%) but produced 360 yards, two touchdowns after throwing the game-tying score with just seconds left, and a pick as four of his completions of 86, 45, 31, and 34 yards respectively accounted for over half of his passing yardage against the Fighting Irish. That was one of the biggest wins in a decade for the Aggies and now has Reed, with 1,011 total yards and 10 touchdowns scored, in Heisman contention.

Tennessee QB Joey Aguilar (+1500)

April was thought to have been a disaster at quarterback for Tennessee in losing QB Nico Iamaleava and replacing him with QB Joey Aguilar. Instead, that swap couldn’t be going any better for those over on Rocky Top.

Aguilar, through three games with the Vols, has completed 66.3% of his throws for 906 yards, nine touchdowns, and two picks, with him coming off a career-best game being 24-36 (66.7%) for 371 yards, four touchdowns – while rushing for another score to give him five scores on the afternoon, and both picks in the 44-41 OT loss to Georgia in Knoxville. Still, he could now be the next Volunteer QB to put up prolific numbers in this offense, which could have him as a finalist for the Heisman at season’s end.

Ohio State WR Jeremiah Smith (+1600 – up from +2000)

It’s been a quieter start to the season, more so due to who they’ve played the past two weeks and his team now entering a bye, for Ohio State WR Jeremiah Smith. That said, he’s still the best receiver in the nation for a reason.

During the 3-0 start for the top-ranked team in the country, Smith now has 20 receptions for 315 yards and three touchdowns, which comes after a season-best game, leading to the jump in odds, with nine catches for 153 yards and a score in a win over Ohio on Saturday. There’s no doubt he’ll remain among the favorites on this board moving forward too with that kind of production, as he currently sits among the top of the country in each of those receiving stats.

Ohio State QB Julian Sayin (+1700 – up from +2000)

Likewise, as the quarterback throwing the ball to players like Smith, Ohio State QB Julian Sayin also saw his odds improve just behind his top target in Columbus. He was among a five-way tie last week at (+2000), but also improved those at (+1700) after Saturday’s win for the Buckeyes.

Sayin, being 25-32 (78.1%) for 347 yards, three touchdowns, and two interceptions this weekend against the Bobcats, is now at 78.9% completion for 779 yards, eight touchdowns, and three picks through the first three starts of his career. He’ll now have another week of development here on a bye before Ohio State returns to the field for conference play in the Big Ten to close September.

Auburn QB Jackson Arnold (+2000)

Auburn QB Jackson Arnold also held at (+2000), tying him with five other players, this week at BetMGM. That’s as he’s three games into what’s been a very good start to the season for him down on The Plains.

Arnold, during the 3-0 start through the non-conference for the Tigers, is 48-69 (69.6%) for 501 yards and four touchdowns, while also rushing for 192 yards and four more scores, as he is yet to have a turnover this fall. That’s the start that many wanted to see from Arnold, with a challenge ahead of him now this weekend in his return to Norman to open conference play in a matchup against Mateer, in second here, and the Sooners.

Alabama QB Ty Simpson (+2000)
Florida State QB Thomas Castellanos (+2000)
USC QB Jayden Maiava (+2000)
Utah QB Devon Dampier (+2000 – down from +1500)
Indiana QB Fernando Mendoza (+2500)
Texas Tech QB Behren Morton (+2500)
Texas QB Arch Manning (+3000 – down from +1200)
Penn State QB Drew Allar (+3000 – down from +2000)
Missouri QB Beau Pribula (+3000)

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