2022-23 college football national championship odds: Georgia only fourth in betting action, including behind Texas A&M

College football teams around the country will open fall camps as early as next week and betting action on 2022-23 futures at Caesars Sportsbook has thus started to pick up. While Georgia lost a lot of talent off last year's national championship team, especially on defense, the Bulldogs are still +400 third favorites to repeat in the CFP title game on Jan. 9, 2023, from Los Angeles. Yet, they aren't taking all that much action at the book yet and are even behind Texas A&M (+2500).

Right after beating Alabama 33-18 in the 2022 title game, the Dawgs and Tide were co-favorites to win it all this season at +325, but Alabama has been in the favored role ever since Jan. 11 and is currently +180. Ohio State, meanwhile, dropped from +700 to +425 on April 16 and then to +375 on June 29. Also that day, Georgia rose from +325 to +375 to match Ohio State's number, and Coach Kirby Smart's squad climbed again the next day to +400 where it remains.

Both the Tide and Buckeyes bring back superstar quarterbacks in reigning Heisman Trophy winner Bryce Young (+400 to repeat) and CJ Stroud (+200), respectively. The Bulldogs bring back starter Stetson Bennett, but he's seen as more of a game-manager and is a +6600 Heisman long shot.

Seven starters are back on the UGA offense, but just three remain from last season's historically good defense. UGA had five defenders selected in the first round of the 2022 NFL Draft, setting the record for the most defensive players selected in the first round out of one school in the common draft era (since 1967).

"This looks like a generational team for Alabama and bettors are in love with Ohio State," said Joseph Feazel, Lead College Football Trader at Caesars Sportsbook. "These two have definitely separated themselves from the pack in terms of action. Alabama has to be up there for biggest preseason favorites recently, I can't think of many teams that had lower odds than them in July."

In total money wagered to win the 2022-23 national title, Alabama leads with 33.7 percent, followed by Ohio State at 24.6 percent and then the shocker Texas A&M at 6.1 percent, even though the Aggies are set at only 8.5 wins this year. Georgia is next at 5.4 percent. The Tide as of this writing have 27 bets at Caesars of at least $1,000 to win it all and the Buckeyes have 26. The Dawgs have two.

Alabama, Ohio State and Georgia all have the highest win total at Caesars with 11 apiece, and the Over is a -140 favorite for Smart's crew. They likely won't be underdogs during the regular season barring a major injury, as their toughest games are either at neutral sites (Oregon, Florida) or in Athens (Auburn, Tennessee).

"What I'm surprised to see is how little interest Georgia has gotten compared to Alabama and Ohio State," Feazel said. "They arguably have an easier schedule than Alabama, they should be double-digit favorites in almost every game they play. Georgia should be in the conversation when it comes to November and in the SEC title game, that's going to give them a good enough chance. Even if they lose the SEC title game, there's a path for them to still get in [the College Football Playoff]."

Smart, incidentally, has agreed to a new 10-year contract that will pay him $112.5 million through the 2031 season. The $112.5 million total would be the most ever paid to a college football coach. UGA opens Sept. 3 vs. Oregon in Atlanta. The Ducks are now coached by ex-Georgia defensive coordinator Dan Lanning.

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