College Football National Championship Odds: Ole Miss Rises After Beating LSU ;Ohio State Favored

Week 3 of the 2026 college football season features multiple top-25 matchups, including a top-10 clash between the LSU Tigers and Ole Miss Rebels in Lane Kiffin's return to the Ole Miss.

Trinidad Chambliss and the Rebels got out to a 17-0 lead in that game, and they held on to win 32-24, shifting the odds to win the National Championship in the process. Ole Miss jumped all the way up to +1900 to win it all (eighth-best odds in the country), though it remains behind LSU (+1500).

That certainly makes it feel like there is at least some value with the Rebels, especially since Chambliss has been one of the best quarterbacks in college football this season.

The Rebels are way off the top spot in the odds, which is held by the Ohio State Buckeyes (+500), even though they lost to the Texas Longhorns in Week 2. Texas (+550) is second in the odds after an easy 30-6 win over UTSA in Week 3.

Only eight teams has shorted than 20/1 odds to win it all, and one top-10 team was upset in Week 3, dropping it way back in this market.

Here's a look at where the National Championship odds stand following Week 3.

College Football National Championship Odds

Odds via FanDuel Sportsbook

Ohio State: +500
Texas: +550
Georgia: +600
Notre Dame: +700
Miami (FL): +800
Indiana: +850
LSU: +1500
Ole Miss: +1900
Oregon: +2500
Alabama: +2700
Texas Tech: +3300
Florida: +3300
USC: +3300
Tennessee: +3500
Texas A&M: +5500
Oklahoma: +6000
Penn State: +6000

No other team has shorter than +10000 odds to win the national title this season.

Now that we know the latest odds, here's a look at some of the key storylines that shaped the odds movement in this market in Week 3.

Ole Miss Upsets LSU in Top-10 Clash

Sweet revenge!

The Ole Miss Rebels took down Lane Kiffin in their Week 3 battle after the now-LSU head coach left Ole Miss during last year's College Football Playoff run.

Oddsmakers are still high on the Tigers (hence the better price in this market), but the win does really improve Ole Miss' chances of making the College Football Playoff. The SEC is a gauntlet each year with the schedule, and having a win over another top-10 team is a huge feather in the Rebels' cap.

Chambliss has been lights out in 2026, throwing for 924 yards and seven scores in three games, rushing for two more touchdowns in the process.

There's a chance Ole Miss ends up jumping LSU in the odds as the season goes on, as the Tigers can't afford many more losses if they want to earn a College Football Playoff spot.

Texas Tech Hangs On vs. Houston in Top-25 Battle

On Friday night, the Big 12 favorite -- the Texas Tech Red Raiders -- trailed at the half against Houston, but they eventually came back to win 28-26. The Red Raiders have a pretty easily schedule in the Big 12 this season, but they've looked vulnerable early in the season, barely beating Houston and relying on a big fourth quarter to beat Oregon State in Week 2.

Texas Tech remains the favorite to win the Big 12, but it's odds to win the national title (+3300) are 11th in the country. That suggests that the betting market doesn't view this team as one that could make a deep College Football Playoff run, at least for now.

Alabama Survives Florida State

After trailing 14-3 at the end of the first quarter, the Alabama Crimson Tide rallied back to score 50 points in a 50-36 win over Florida State.

It was a nice win for Kalen DeBoer's programs, especially since FSU beat Alabama in the 2025 season. The Crimson Tide are finding their footing early on this season, and quarterback Keelon Russell had by far the best game of his career.

He threw for 320 yards and three scores, adding 56 yards and another score on the ground. If Russell continues to play at that level, the Crimson Tide should be in the mix to win the SEC in 2026.

Texas A&M Upset by Kentucky

The biggest upset of the week came in the SEC, as the No. 9 Texas A&M Aggies fell -- at home -- to the Kentucky Wildcats.

It's a shocking loss for Marcel Reed and Co., and it likely puts Texas A&M on the playoff bubble unless it runs the table the rest of the way. Oddsmakers dropped the Aggies to +5500 in the odds to win the national title this season.

Odds refresh periodically and are subject to change.

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