Oregon Ducks vs. Ohio State Betting Odds Reflect Surprising Shift

Despite coming off a 12-point loss to USC, a team the Ducks defeated by 14 points earlier this season, the No. 11 Ohio State Buckeyes enter Saturday's matchup as favorites over Oregon at the Horseshoe in Columbus.

The Ducks will be making their first trip to Columbus since 2021, when Oregon defeated Ohio State 35-28 on the road. While Oregon has had success in its previous meeting at the Horseshoe, the Buckeyes hold a commanding 10-2 advantage in the all-time series.

Oregon Ducks Ohio State Buckeyes betting odds spread moneyline over under FanDuel sportsbook college football Week 11 — Dec 31, 2024; Los Angeles, California, USA; Ohio State Buckeyes head coach Ryan Day (left) and Oregon Ducks head coach Dan Lanning shake hands with the Leishman Trophy as a backdrop during the Rose Bowl head coaches press conference at Sheraton Grand LA. Mandatory Credit: Kirby Lee-Imagn Images | USA TODAY Sports via Reuters Connect

Both programs have endured unexpected setbacks in recent weeks, from shocking losses to significant injuries at the quarterback position. Now, with both teams looking to regroup, Oregon will head into Columbus as the underdog against a Buckeyes team hoping to bounce back in front of its home crowd.

Oregon vs. Ohio State Betting Odds

According to FanDuel Sportsbook, the Ohio State Buckeyes are 7.5-point favorites heading into Saturday's matchup against the Oregon Ducks at Ohio Stadium. Despite the difference in the two teams' rankings and Ohio State having the home-field advantage, oddsmakers expect the matchup to be relatively competitive.

The spread is set at Ohio State -7.5 (-105), while Oregon is listed at +7.5 (-115). For those looking at the moneyline, Ohio State is listed at -265, while the Ducks are +215. The over/under for the matchup is set at 48.5 total points.

The Buckeyes are coming off a disappointing 30-18 loss to USC, and interestingly enough, Oregon defeated the Trojans 41-27 earlier this season. That comparison is worth noting heading into Saturday, especially with both teams navigating changes at quarterback.

Ohio State is expected to be without starting quarterback Julian Sayin after he suffered an injury against Indiana. His absence has left the Buckeyes to turn to a true freshman under center.

Quarterback Luke Fahey made his first career start for Ohio State in Los Angeles and finished 21-of-38 for 260 yards and a touchdown.

Oregon is also adjusting following the season-ending injury to starting quarterback Dante Moore. However, the Ducks have more experience with former Nebraska starting quarterback Dylan Raiola now leading the offense.

Ohio State's home-field advantage and overall talent have helped keep the Buckeyes favored, but Oregon's previous success against USC and the uncertainty surrounding both quarterback situations add another layer to the matchup.

Despite the ranking differential, oddsmakers are not viewing this as a one-sided contest, and the Ducks should have an opportunity to make things interesting in Columbus.

A Matchup That Looks Nothing Like It Did in August

Ahead of the 2026 season, it appeared as though the Oregon vs. Ohio State matchup would shape up to be a massive battle between two of the nation's top teams, potentially a top-five showdown with the Buckeyes beginning the season at No. 1 in the AP Poll and the Ducks just behind at No. 2.

However, nine weeks into the season, the upcoming matchup between the Ducks and Buckeyes in Columbus has taken on a very different narrative. Instead of being two of the top teams in the nation, as many anticipated heading into the season, the Ducks are now unranked and have three losses on the season.

The Buckeyes, on the other hand, are facing adversity of their own. Previously ranked No. 2, Ohio State fell to No. 11 in the AP Poll following a shocking 30-18 loss to USC. Like the Ducks, the Buckeyes are also without their starting quarterback.

What was once anticipated to be a battle between two college football heavyweights and two quarterbacks with legitimate Heisman aspirations has now become a much different kind of test, as both programs look to prove they can remain competitive despite losing the players they expected to lead them all season.

Oregon entered the year with national championship aspirations, but a 5-3 record has put the Ducks in a much different position than many expected. The offense has also undergone significant changes, including an offensive coordinator change following the loss to Illinois.

After parting ways with Drew Mehringer, Oregon turned to Jay Johnson to take over play-calling duties. The change made an immediate difference in Johnson's first game against No. 20 Northwestern, as the Ducks put together one of their more productive offensive performances of the season. Oregon finished with 441 total yards, while quarterback Dylan Raiola completed 22-of-31 passes for 336 yards and three touchdowns in the 34-26 victory.

Johnson's decision-making in his first road game with his newly acquired responsibility could be an important development heading into Columbus.

For Ohio State, Saturday presents an opportunity to respond after its loss to USC and show that it can remain a contender despite losing Sayin. For Oregon, it is a chance to build on its recent offensive improvements and prove that its season is far from over.

What once looked like a potential top-five showdown between two Heisman contenders has become a matchup between two programs trying to find their footing, with plenty still at stake for both teams.

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