Wednesday July 23rd, 2014

Alabama and defending champion Florida State are co-favorites to win the 2014 national championship, according to odds released by Bovada.

The Crimson Tide and Seminoles are both listed at 11/2 odds to win the title in the inaugural season of the College Football Playoff. Oregon comes next at 7/1, followed by Oklahoma at 9/1 and Auburn at 10/1.

Led by Heisman trophy-winner Jameis Winston, Florida State went 14-0 and won its third national title after defeating Auburn 34-31 in the title game last season. Alabama won BCS Championships in 2009, 2011 and 2012, and is coming off a season in which it went 11-2 and lost to the Sooners in the Sugar Bowl.

The semifinals of the playoff will be hosted by the Rose Bowl and Sugar Bowl on Jan. 1, 2015. The final will be held at AT&T Stadium in Arlington, Texas, on Jan. 12.

More: For Oklahoma QB Trevor Knight, success lies in keeping things simple

- Ben Estes

SI Apps
We've Got Apps Too
Get expert analysis, unrivaled access, and the award-winning storytelling only SI can provide - from Peter King, Tom Verducci, Lee Jenkins, Seth Davis, and more - delivered straight to you, along with up-to-the-minute news and live scores.