2025 Heisman Odds: Fernando Mendoza, John Mateer Lead Wide Open Race After Week 4

Breaking down the latest odds to win the Heisman Trophy in the 2025 college football season.

Indiana Hoosiers quarterback Fernando Mendoza is the favorite to win the Heisman this season. / Robert Goddin-Imagn Images

Through four weeks in the 2025 college football season, there is anything but a clear favorite to win the Heisman Trophy.

As of Monday morning, Indiana’s Fernando Mendoza (+800) and Oklahoma John Mateer (+900) are the only two players at shorter than 10/1 odds to win the Heisman at FanDuel Sportsbook, a sign that the betting market believes that this race is wide open.

Now, those two quarterbacks have led their teams to 4-0 starts, but so has Miami’s Carson Beck (+1300), Oregon’s Dante Moore (+1300) and others. 

As the schedule begins to heat up for several teams in the coming weeks, there should be some more clarity around the true contenders to win the Heisman. However, it’s worth noting that some early-season favorites like Cade Klubnik, Arch Manning and Garrett Nussmeier have seen their odds tumble to start the season.

Nussmeier (+2000) is the only player that is truly still in the race, as Manning has fallen back to +4000 and Klubnik appears to be out of the race with Clemson off to a dreadful 1-3 start.

Beck is an intriguing player to watch in this market, as he was expected to be a Heisman contender in 2024 – and potentially a first-round draft pick – before a down season at Georgia that was ended early by an injury.

Now in Miami, Beck has a chance to follow in the footsteps of Cam Ward, who was the No. 1 overall pick in the 2024 NFL Draft. 

Here’s a look at the Heisman odds for the top contenders (every player 50/1 or better in the odds) through the first four weeks of the season.  

2025 Heisman Trophy Odds

Odds via FanDuel Sportsbook

• Fernando Mendoza (Indiana): +800
• John Mateer (Oklahoma): +900
• Carson Beck (Miami): +1300
• Dante Moore (Oregon): +1300
• Gunner Stockton (Georgia): +1400
• Josh Hoover (TCU): +1400
• Joey Aguilar (Tennessee): +1400
• Marcel Reed (Texas A&M):+1500
• Jeremiah Smith (Ohio State): +1500
• Julian Sayin (Ohio State): +1700
• Thomas Castellanos (Florida State): +2000
• Garrett Nussmeier (LSU): +2000
• Jayden Maiava (USC): +2000
• Drew Allar (Penn State): +2500
• Haynes King (Georgia Tech): +2500
• Ty Simpson (Alabama): +2500
• Beau Pribula (Missouri): +3000
• Diego Pavia (Vanderbilt): +3500
• Jackson Arnold (Auburn): +4000
• Arch Manning (Texas): +4000
• Sam Leavitt (Arizona State): +4000
• Dylan Raiola (Nebraska): +5000
• Demond Williams Jr. (Washington): +5000
• Bryce Underwood (Michigan): +5000
• Behren Morton (Texas Tech): +5000
• Trinidad Chambliss (Ole Miss): +5000

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Odds refresh periodically and are subject to change.

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