Indiana vs Oregon: Early Odds for Peach Bowl Revealed

Indiana is one win away from playing for a college football national championship
Jan 1, 2026; Pasadena, CA, USA; Indiana Hoosiers quarterback Fernando Mendoza (15) and running back Roman Hemby (1) celebrate after defeating the Alabama Crimson Tide in the 2026 Rose Bowl and quarterfinal game of the College Football Playoff at Rose Bowl Stadium.
Jan 1, 2026; Pasadena, CA, USA; Indiana Hoosiers quarterback Fernando Mendoza (15) and running back Roman Hemby (1) celebrate after defeating the Alabama Crimson Tide in the 2026 Rose Bowl and quarterfinal game of the College Football Playoff at Rose Bowl Stadium. | Gary A. Vasquez-Imagn Images

Indiana flat-out embarrassed Alabama in Thrusday's Rose Bowl, besting the football blueblood 38-3 in a game that was perhaps not as close as the final score indicated.

Indiana has looked the part of a national championship contender almost all season long, and Thursday was another big step towards that ultimate goal. Next up for Indiana is a trip to Atlanta for a Peach Bowl showdown with Big Ten rival Oregon on January 9.

Thursday's Rose Bowl is perhaps the biggest victory in the long history of Indiana football, but a win in the Peach Bowl, which would mean a spot in the national championship, would even trump that.

But what are the chances of an Indiana victory over Oregon for a second time this season?

Initial Betting Odds for Indiana vs. Oregon Peach Bowl Released

Moments after Indiana finished its obliteration of Alabama, odds for the national semi-final between the Hoosiers and Oregon Ducks were released. According to Fan Duel, they go as follows:

Pointspread: Indiana -3.5
Over/Under: 47.5 points
Money lines: Indiana -182, Oregon +150

Indiana won the previous meeting between teams this year, beating the then-third-rated Ducks 30-20 in Eugene back on October 11. That win, which feels like a lifetime ago at this point, moved Indiana to 6-0 on the year, and up from seventh to third in the AP Poll Top 25.

Peach Bowl Will Feature Outstanding Head Coaching Showdown

While four teams remain with a chance to win the national championship, only Indiana has a shot to finish the year with an undefeated record. The Hoosiers moved to 14-0 with the victory, making them 25-2 since Curt Cignetti was hired following the 2024 season.

Forget the history of college football, its hard to look across all of sports and find a better turnaround story than that of Cignetti at Indiana. The Hoosiers have gone from the all-time losingest team in the history of college football, to knocking on the door of a national championship, in two short years.

Meanwhile, Dan Lanning hasn't exactly struggled in his four years as head coach of Oregon. The Ducks improved to 13-1 on the year after their 23-0 win over Texas Tech in the Orange Bowl. Lanning is a remarkable 48-7 over his four seasons at Oregon, with no more than three coming in a single season.

When Indiana and Oregon meet next Friday ,it'll be a showdown of two relative newcomers nearing the top of the college football mountain, both looking for their first national championship. The way things currently sit, it certainly appears both programs will be near the top of the college football ladder for the forseeable future, regardless of what happens in the Peach Bowl.