Heisman Trophy Odds Update: Michael Penix Jr. Surges to the Top

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

In the modern era, the accolade is typically awarded to the nation's best quarterback, but it is not intended as such -- that would be the Davey O'Brien Award. Still, via the college football odds at FanDuel Sportsbook, we don't see a non-quarterback on the board until the 13th spot (Michigan Wolverines tailback Blake Corum at 60-to-1).

For reference, only three players in the past 17 seasons have won the Heisman at a position other than signal-caller. Most recently, wide receiver 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, just saw his current odds lengthen for the first time all season. Of course, his three-interception performance in a loss at the Notre Dame Fighting Irish caused the inflation. Williams is now 30-to-1 in the Heisman Trophy odds at FanDuel Sportsbook.

As your new Heisman Trophy market leader, lefty signal-caller Michael Penix Jr. of the No. 5 Washington Huskies is really spinning the pigskin right now. In his most recent outing, Penix passed for 302 yards and 4 touchdowns against the Oregon Ducks.

Let's break down some of the top Heisman candidates and their odds to bring home college football's most celebrated individual award. Spoiler alert: they are all from universities ranked in the AP Top 25.

All college football odds via FanDuel Sportsbook.

*Denotes 2022 Heisman Trophy winner

Michael Penix Jr., QB, Washington (-140)

Riding high after his big win over the rival Ducks, Penix has guided the Huskies to a perfect 6-0 record so far. In 2023, he is completing passes at a prolific 72.1% clip. That elite-level efficiency had led to Penix producing the second-best QBR in FBS (91.7).

With a staggering 20-to-3 touchdown-to-interception ratio this season, Penix is in a position where this award appears to be his to lose. He is averaging 383.5 passing yards per game so far, but can he keep up that elite-level of consistency through late-season tests versus the No. 14 Utah Utes and No. 12 Oregon State Beavers?

Keep in mind, no player from Washington has ever won the Heisman. Defensive end Steve Emtman is the only Husky to finish within the top four of balloting (1991). Still, Penix, a quarterback, seems much better positioned to break through and win the award. At FanDuel Sportsbook, Penix is currently drawing the fifth-largest handle share in this market.

With the Huskies last season, Penix led the Pac-12 in total passing (4,641 yards) -- better than even Caleb Williams. Naturally, Washington and USC did not play last year, but circle November 14th on your schedule. It should be explosive from the quarterback spot when the Huskies and Trojans get together.

Dillon Gabriel, QB, Oklahoma (+900)

From a school that has not produced a Heisman winner to one that is tied for the most Heisman winners of all-time. Since the Heisman's inception, exactly seven different Oklahoma Sooners have earned the trophy. The current signal-caller in Norman -- senior Dillon Gabriel -- is attempting to be the next in that decorated line of gridiron greats.

Gabriel is in his second season with the Sooners. Right now, he is on pace to shatter all his passing marks from a year ago. His completion clip of 72.3% is one of the best in the country, while his current rating of 178.2 jumps off the page. However, perhaps of most importance to OU followers, Gabriel just played a clean game against the No. 8 Texas Longhorns, committing no turnovers in a win.

Oklahoma and Gabriel do not have another ranked opponent on the 2023 schedule, but that could always change. Next week, the Sooners will take on Gabriel's former school in the Central Florida Knights; perhaps that puts a chip on his shoulder for a major game.

Either way, when you view Oklahoma's remaining schedule, the +900 odds on Gabriel to win the Heisman look pretty appealing.

J.J. McCarthy, QB, Michigan (+1200)

A two-time Big Ten champion, Michigan signal-caller J.J. McCarthy is undoubtedly one of the top players in the game. Like others here, he has led his respective school to an undefeated record (7-0). Right now, McCarthy has the Wolverines churning for 39.4 points per game, which is the 10th-best scoring clip in all of college football.

Overall, Michigan currently shows as joint-favorites (+270 odds; tied with the No. 1 Georgia Bulldogs) to win it all, per the college football odds at FanDuel Sportsbook. Simply, the Wolverines are expected to keep winning, and that alone will likely keep McCarthy's name in the conversation. Oh, and the fact that McCarthy has the top QBR in FBS (92.6) right now doesn't hurt.

Michigan has looming heavyweight matchups in two of the final three weeks of the regular season: at the No. 7 Penn State Nittany Lions and home versus the archrival No. 3 Buckeyes. If McCarthy can deliver in key spots, his Heisman stock will absolutely rise. Maybe 12-to-1 in this market is worth a second look.

Jayden Daniels, QB, LSU (+1200)

Jayden Daniels is enjoying another efficient campaign for the No. 19 Louisiana State Tigers. Through seven starts in 2023, Daniels has tossed 22 touchdowns while throwing just 3 interceptions. Additionally, he has scored four times with his legs. That gives him 14 total rushing touchdowns since arriving to Baton Rouge in 2022.

LSU has already lost twice in the current campaign. That puts Daniels behind the eight-ball when it comes to the Heisman Trophy once when you consider the win-loss records of the other top contenders.

Daniels and the Tigers have a matchup against the Army Black Knights this Saturday. After that, they are in line for an adversarial clash versus the No. 11 Alabama Crimson Tide. If Daniels can explode for booming performances over the next two weeks and the players we just talked about have some off games, perhaps he makes a late surge in this market.

Longer Shots

• Jordan Travis, QB, Florida State (+1600)

• Drake Maye, QB, UNC (+1600)

• Carson Beck, QB, Georgia (+2500)

• Bo Nix, QB, Oregon (+3000)

• Caleb Williams, QB, USC (+3000)

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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.