What Peach Bowl Betting Odds Mean For The Oregon Ducks

The No. 5 Oregon Ducks are currently underdogs against the No. 1 Indiana Hoosiers in their College Football Playoff Semifinal matchup in the Chick-fil-A Peach Bowl.

Oregon head coach Dan Lanning walks the field during warmups as the Oregon Ducks take on the Texas Tech Red Raiders in the Orange Bowl on Jan. 1, 2026, at Hard Rock Stadium in Miami, Florida. | Ben Lonergan/The Register-Guard / USA TODAY NETWORK via Imagn Images

The No. 5 Oregon Ducks will face off against the No. 1 Indiana Hoosiers in the CFP Semifinal at the Peach Bowl for a right to advance to the national championship game in Miami on Jan. 19. The Ducks look to avenge their only loss of the season by knocking off the undefeated Hoosiers.

Since falling to the Hoosiers 30-20 at Autzen Stadium on Oct. 11, Oregon has won eight straight games, including two dominating wins in the College Football Playoff against the No. 12 James Madison Dukes and the No. 4 Texas Tech Red Raiders.

Jan 1, 2026; Miami Gardens, FL, USA; Oregon Ducks head coach Dan Lanning and players on the podium to receive the champions trophy following the 2025 Orange Bowl and quarterfinal game of the College Football Playoff against the Texas Tech Red Raiders at Hard Rock Stadium. Mandatory Credit: Sam Navarro-Imagn Images | Sam Navarro-Imagn Images

In Oregon’s 23-0 CFP Quarterfinal Orange Bowl win over Texas Tech, the Ducks' defense was sensational, forcing four turnovers against the Big 12 champion, Red Raiders. A similar defensive performance against Heisman Trophy-winning quarterback Fernando Mendoza and the Hoosiers could be the key for Oregon to pull off the upset against the favored Hoosiers. 

Current Betting Odds For Oregon vs. Indiana Peach Bowl Matchup

Indiana Hoosiers quarterback Fernando Mendoza (15) holds the trophyThursday, Jan. 1, 2026, after defeating Alabama Crimson Tide in the 112th annual Rose Bowl game in Pasadena. | Grace Hollars/IndyStar / USA TODAY NETWORK via Imagn Images

Entering the Peach Bowl semifinal matchup, the Hossiers are currently a four-point favorite over the Ducks, according to BetMGM Sportsbook. While it's hard to defeat the same team twice in a season, many believe, based on their recent performance against the No. 9 Alabama Crimson Tide in the Rose Bowl, that Curt Cignetti’s Hoosiers are destined to complete one of the greatest turnarounds in college football history by winning the national championship. 

Indiana defeated Alabama in dominating fashion, winning 38-3, led by a tremendous performance from Mendoza, who threw for 192 yards and three touchdowns on 14-of-16 passing. Running back Kaelon Black also rushed for 99 yards and one touchdown on 15 carries, while Hoosiers offensive lineman Pat Coogan was named the Rose Bowl MVP.

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Coogan winning the MVP came as a surprise to many and created a special moment that featured him being mobbed by Mendoza and his Hoosiers teammates. Coogan’s award reveals the depth and talent that the Hoosiers have on their roster at multiple positions, which is why they are the favorites to win the national championship out of the four remaining teams in the CFP. 

Why Oregon Can Thrive As An Underdog vs. Indiana

Jan 1, 2026; Miami Gardens, FL, USA; Oregon Ducks quarterback Dante Moore (5) warms up prior to the 2025 Orange Bowl and quarterfinal game of the College Football Playoff against the Texas Tech Red Raiders at Hard Rock Stadium. Mandatory Credit: Sam Navarro-Imagn Images | Sam Navarro-Imagn Images

Coach Dan Lanning's Oregon squad enters the Peach Bowl with a major chip on its shoulder as an underdog against the Hoosiers, looking to succeed off its Ducks vs. Them motto. The Ducks' offense, led by quarterback Dante Moore, is getting healthy at the right time. While they didn’t see much action in the Orange Bowl win over Texas Tech, wide receivers Dakorien Moore and Gary Bryant Jr. are back at full strength for the Ducks' offense after being sidelined with injuries since November. 

The Ducks' running back trio of Noah Whittington, Jordon Davison, and Dierre Hill Jr., along with wide receiver Malik Benson and tight end Kenyon Sadiq, are offensive weapons that will challenge Indiana’s defense. 

The CFP Semifinal between Oregon and Indiana is set to kick off on Friday, Jan. 9, at 4:30 p.m. PT from Mercedes-Benz Stadium in Atlanta, Georgia. The game broadcast is set to be on ESPN.

The winner will face either the No. 6 Ole Miss Rebels or the No. 10 Miami Hurricanes in the national championship game.

• Game odds refresh periodically and are subject to change. 
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