The teams hosting College Football Playoff games will carry lofty betting expectations with them, as all four higher-seeded home teams opened as touchdown or greater favorites for the first round of the inaugural 12-team CFP, according to ESPN BET odds.
Texas opened as the largest favorite of the round, giving 10.5 points to Clemson, which sneaked into the field by virtue of its ACC championship win over SMU on a last-second field goal. The Mustangs opened as 8.5-point underdogs for their road contest at Penn State but quickly moved down to +7.5.
SMU was given the nod for the CFP over Alabama, which was an odds-on favorite to make the CFP after a large odds shift Monday. However, Clemson's conference title bumped the Crimson Tide from the field, and SMU became a near-lock to make it as Sunday morning progressed (-1200 just before 11 a.m. ET).
Notre Dame opened as an 8.5-point favorite for its in-state matchup against Indiana. The 8- vs. 9-seed game, Tennessee at Ohio State, opened as the tightest betting matchup, with the Buckeyes showing as a 7-point favorite over the Volunteers.
After locking in the No. 1 seed as Big Ten champion, Oregon received a first-round bye and was the standalone favorite to win the national championship at +325 when the bracket was first released. However, the Ducks' future odds have since lengthened, and they are tied with Georgia and Texas at +350 as of Sunday afternoon.
Clemson saw its championship odds lengthen from +3000 to +5000 following the reveal, while Penn State shortened from +900 to +650. Despite receiving a first-round bye, Boise State has the longest odds in the field at +6000.
