Heisman Trophy odds: Dillon Gabriel, Carson Beck lead the pack

The Heisman Trophy, the most prestigious individual award in college football, is almost exclusively handed out to quarterbacks. Twelve of the last 14 winners were signal-callers - Devonta Smith in 2020 and Derrick Henry in 2015 were the lone exceptions. That's why quarterbacks make up the top 20 favorites.

Each of the last three winners entered the season as a top-three favorite. However, some past winners exploded onto the scene and climbed the oddsboard to earn the honor.

Let's check out this year's contenders.

Heisman Trophy odds

There isn't much separating the favorites, meaning it's a wide-open race entering a season with less elite quarterback talent than in years past.

Dillon Gabriel is, unsurprisingly, the favorite. His 3,660 yards and 30 touchdowns at Oklahoma last season earned him the nod as the clubhouse leader. But transferring to Oregon is also part of the reason he's projected to have a monumental season.

Dan Lanning's offense is a pass-heavy, quarterback-friendly attack, as evidenced by Bo Nix's success in Eugene. Nix led one of the nation's best offenses, throwing for 4,508 yards and 45 touchdowns while finishing as a Heisman finalist. If Gabriel can step in and provide similar production, Oregon will compete for a national title and the sixth-year quarterback could win the prestigious trophy.

Carson Beck, meanwhile, took over for Stetson Bennett last season with the pressure of trying to bring Georgia a third straight national title. Beck had moments of brilliance and instances of inexperience. He should mature into the passer Georgia needs following a full year as a starter. The Bulldogs consistently have one of the best rosters in the country, so they'll contend even if Beck doesn't display Heisman-level performances. Georgia has played more games in the College Football Playoff than any other school but hasn't had a player win the Heisman Trophy since Herschel Walker in 1982.

Moving down, it's surprising to see Jalen Milroe's name so high on the list, as he had a shaky 2023 campaign and was benched after early-season struggles. He was eventually reinserted as the starter and Alabama ultimately won the SEC, but the title was arguably won despite Milroe, not because of him.

Milroe is an excellent rusher but an inconsistent thrower. He only threw for 2,718 yards last season, well below the numbers of a typical Heisman winner. Plus, Alabama could leave the contender circle this season after Nick Saban retired and Kalen DeBoer took over as head coach.

Milroe has received the most bets to win the Heisman at theScore Bet and ESPN Bet, followed by Dart and Gabriel. But more money has been placed on Gabriel than any other candidate.

Elsewhere, Jaxson Dart and Quinn Ewers remained at Ole Miss and Texas, respectively. Both quarterbacks are in the right systems with the tools to have superb seasons.

Will Howard will also draw attention at Ohio State, one of the favorites to win the national title. The Kansas State transfer showcased his running ability last season and will now be leading a top offense in the country.

Chip Kelly, one of the sport's most innovative offensive minds, is likely salivating at the idea of a dual-threat quarterback. Hired by Ohio State to lead the offense, Kelly will call the plays, and his presence should benefit Howard's statistical output and Heisman bid.

A notable exclusion from the list is Shedeur Sanders, Colorado's quarterback and Deion Sanders' son. He's considered one of the nation's most dynamic quarterbacks and is in the running for the No. 1 pick at the draft next spring. The Heisman, however, is awarded to a player on one of the country's top teams. Colorado has a 5.5 win total, meaning it will be difficult for Sanders to earn the honor. He's +3500 to win, tied for the 13th-best odds.

Notoriety will play a factor in the vote in an age where marketability and image are as crucial to a player's collegiate experience as on-field performance. Quarterbacks with front-facing NIL deals and consistent media appearances will have an advantage. Of course, the ultimate factor is their statistical profile and actual play. The Heisman race should be close, with many skilled quarterbacks representing prominent programs.

Sam Oshtry is a sports betting writer at theScore. You can follow him on X @soshtry for more betting coverage.