Betting surged for College Football Playoff semifinals, but short of setting records

January 4, 2024 9:23 PM
Photo: Shutterstock
  • Mark Anderson, Associated Press
January 4, 2024 9:23 PM
  • Mark Anderson, Associated Press

LAS VEGAS (AP) — The combination of a strong College Football Playoff field and the semifinals being on New Year’s Day sparked a surge in betting, but not to the level hoped for by sportsbooks.

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There was anticipation records would be set, but the semifinals being played on a Monday likely kept that from happening.

“Last year’s numbers were really disappointing as the games were played on (New Year’s Eve),” Jay Kornegay, vice president of race and sports operations at Westgate Las Vegas, said in a text message. “This year with the game on NYD, plus the name brands participating, we expected huge numbers. We almost doubled last year’s handle but didn’t set a record. We’ll have to wait for these games to be played on a Saturday before we discuss records.”

The national championship between Michigan and Washington for the national championship will be Monday in Houston.

Both teams got there by surviving scintillating semifinals. The Wolverines used a defensive stand to beat Alabama 27-20 in overtime and the Huskies watched a two-possession lead disappear before finally denying Texas late for a 37-31 victory.

Joey Feazel, who heads college football betting for Caesars Sportsbook, said betting was up for the semifinals largely because more states have legalized sports wagering. But he said the average bets were up.

HUSKIES GETTING LOVE

Michigan is a 4 1/2-point favorite at FanDuel Sportsbook, but it’s Washington that is driving the early action.

The Huskies are getting 64% of the bets and 62% of money to cover the spread, and 73% of bets are on Washington to win outright. The handle, though, is evenly split for the money line, which lists the Wolverines at minus-194 ($194 to win $100) and plus-160 ($100 to win $160) for Washington.

Feazel said money from casual bettors is on Washington at Caesars locations on the 4 1/2-point spread, but there is money from the professional bettors coming for the total, causing it to drop from 56 points to 55 1/2.

“I think just the respect Michigan’s defense has,” Feazel said. “So not a lot of movement yet. Usually, we don’t see a big movement until day of for these type of games. But right now the public is remembering the dominating Washington performance and they’re betting Washington in this one.”

INJURY HAS LITTLE EFFECT

The uncertainty over whether Huskies running back Dillon Johnson, who has been battling a foot injury, plays is of little consequence to the betting line. Coach Kalen DeBoer said he expected Johnson to play.

Feazel said Michigan’s strong run defense helps lessen Johnson’s impact on the betting line.

“I think we do tend to see sometimes when someone’s announced as out, you’ll see just some line movement whether it’s warranted or not,” Feazel said. “But in this case, I don’t see much of a difference between this running back and the backup running back, at least for how Washington’s going to want to play this game, how they played against a good defense in Texas. I don’t expect the running game to really make that much of an impact for how this game is going to play out.

“If (quarterback Michael) Penix was out, it would be huge.”

GIVING PROPS

Different sportsbooks will have proposition bets for the title game, but not to the level of the Super Bowl. That’s largely because some states don’t allow prop bets on college athletes.

Some of FanDuel’s prop bets include:

— Penix’s passing over/under is 292.5 yards. That total is 190.5 for Michigan quarterback J.J. McCarthy.

— Wolverines running back Blake Corum’s rushing over/under is 105.5 yards.

— Huskies wide receiver Rome Odunze’s receiving total is 91.5 yards.

— A touchdown in each quarter is minus -200.

— For those wanting to take a flyer, Michigan is plus-6500 to win by at least 43 points and Washington is plus-5,500 to win between 31 and 36 points.