Heisman Trophy Odds Update: And Then There Were Two

The Heisman Trophy is one of the most coveted awards in American athletics.

For the modern era, the accolade is typically bestowed upon the nation's best quarterback, but it is not intended as such; that would be the Davey O'Brien Award.

However, only three players in the past 17 seasons have won the Heisman at a position other than signal-caller. Most recently, wideout DeVonta Smith accomplished the feat before going on to shine with the Philadelphia Eagles.

Last year's trophy winner, Southern California Trojans quarterback Caleb Williams, fell off the oddsboard two weeks ago after taking a three-score loss to the crosstown rival UCLA Bruins. That served as Williams' final game of the 2023 regular season. Naturally, the entire football world awaits his next move, or to see if Williams will participate in the upcoming bowl season.

As it is now, the looming Heisman will almost certainly go to one of two players: Oregon Ducks signal-caller Bo Nix or Louisiana State Tigers quarterback Jayden Daniels. The Heisman Trophy odds at FanDuel Sportsbook see it the same way; the third name on the board -- Michael Penix Jr. of the Washington Huskies -- is currently labeled with +1600 odds, well behind Nix and Daniels.

With conference championships on the horizon, let's break down the remaining Heisman candidates and their respective odds to bring home college football's most celebrated individual award.

All college football odds via FanDuel Sportsbook.

Heisman Trophy Odds

Bo Nix, QB, Oregon (-180)

Fresh off winning his first "Civil War" game over the rival Oregon State Beavers, Bo Nix is back atop the Heisman odds at FanDuel Sportsbook. At the moment, he is the only player in the nation returning less than even money to win the Heisman. Of course, it was not very long ago that we last saw Nix as the favorite here. He yielded as short as -110 odds just two weeks ago after a four-touchdown night versus USC.

In Nix's most recent action, he lit up a quality Oregon State defense for 367 yards through the air with 2 scores. Additionally, Nix displayed quality mobility and athleticism, rushing for a touchdown against his in-state rival. For Bo, that is his sixth score on the ground in 2023 (and 20th since transferring to Oregon).

When surveying his 2023 stat line, Nix would absolutely be a justified selection for this season's Heisman. Nix -- who originally started his collegiate career with the Auburn Tigers -- has been one of the most accurate passers in history this year. Right now, his completion clip sits at a scalding 78.6% through 401 attempts. From there, his touchdown-to-interception ratio is ludicrously efficient at 37-to-2.

On the year, Nix has thrown the second-most scores while leading all of FBS in passing yardage (3,906). Again, he absolutely deserves to be the second Heisman winner in UO history (after Marcus Mariota in 2014). Still, is there a current player who perhaps deserves it .. more?

Nix has the opportunity to (ahem) nix any alternative consideration in the final Pac-12 title game on Friday (from Vegas, baby); the Ducks are currently substantial favorites over UDub.

Jayden Daniels, QB, LSU (+140)

By this point, it really does feel like the Heisman conversation has whittled down to a "1A and 1B" scenario. As mentioned, Jayden Daniels and the Fighting Tigers have (figuratively) been lighting scoreboards on fire. In 2023, LSU is averaging an astronomical 46.4 PPG, which is the top figure in FBS. For reference, that approaches the scoring realm of Louisiana State's most recent Heisman winner -- Joe Burrow and the 2019 Tigers managed 48.4 PPG.

When discussing Nix earlier, it was noted that he was second in passing touchdowns at the moment. Well, Daniels was the man standing in Nix's way for the 2023 regular season touchdown crown. Pacing the entire nation, Daniels chucked a whopping 40 touchdowns this year. From there, the Arizona State Sun Devils' transfer added 10 more scores on the ground. Being that Daniels committed only four interceptions in the campaign, he also leads FBS in QBR (95.6).

More than anything, Daniels' Heisman chances seem to be hampered by the fact that LSU is not in contention for the College Football Playoff. The other two quarterbacks featured here are on teams that each show +250 odds or shorter (at FanDuel Sportsbook) to qualify for the CFP. Also, unlike last year, the Tigers -- at 9-3 -- are left out of the SEC conference title game.

It is definitely unfair that a quarterback's stock is partially dependent on overall team success, but that is the world we live in. Still, we have seen others win the award in similar situations, such as Lamar Jackson and Robert Griffin III. If those two were named Heisman winners without playing in a conference championship game, why not a stud like Daniels?

Ironically, Daniels and Nix both transferred the very same season (2022), reciprocating conferences (swapping the Pac-12 for the SEC). That means we have never seen the two compete head-to-head. Sheesh, could you imagine?

Michael Penix Jr., QB, Washington (+1600)

For much of this season's middle portion, Washington's Michael Penix Jr. appeared to be running away with the upcoming Heisman Trophy. Prior to Week 8, the southpaw signal-caller yielded as short as -140 odds in this market at FanDuel Sportsbook. That label came on the heels of a 363-yard, 30-of-40 passing performance. Fast-forward to now, and Penix shows 16-to-1 odds to be the first Heisman winner in UDub history.

Despite the Huskies sitting at an undefeated 12-0, Penix's Heisman odds have inflated in each of the past three weeks. Most likely, that is due to a string of one-score victories combined with less accurate passing from Penix. He is averaging a completion clip of only 53.4% over their last three games, which is down from his 65.6% mark on the season.

Still, Penix has not been knocked out of this race just yet. As alluded to, Daniels and LSU have no conference championship to help amplify his resume. With Penix and Nix set to battle this Friday in Sin City for the final Pac-12 football title, Penix could shock the books with a major performance and a win. However, Oregon is a 9.5-point favorite (as of Monday afternoon) -- it would be wise to monitor that number all week.

Staying with the theme of transfer quarterbacks, Penix began his collegiate career in 2018 with the Indiana Hoosiers. In two seasons since moving to Seattle, he is likely to go over 4,000 yards passing in both campaigns playing for the Huskies (Penix sits at 3,899 ahead of Friday's clash). Simply, does Penix have enough magic in that left arm to subvert the betting landscape with a huge showing versus Oregon?

Longshots

• Jalen Milroe, QB, Alabama (+15000)

• Carson Beck, QB, Georgia (+15000)

• Ollie Gordon II, RB, Oklahoma State (+20000)

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The above author is a FanDuel employee and is not eligible to compete in public daily fantasy contests or place sports betting wagers on FanDuel. The advice provided by the author does not necessarily represent the views of FanDuel. Taking the author's advice will not guarantee a successful outcome. You should use your own judgment when participating in daily fantasy contests or placing sports wagers.