2024 Heisman Trophy Odds and Best Bets

We are a mere four weeks into the college football season, bet we have seen the Heisman Trophy odds change significantly. The Heisman chatter has already reached a boiling point, and there is relevant news that we need to parse through in order to understand where the value has shifted. There is far more edge betting on Heisman futures in-season than in the beginning of the year, which is fairly typical but is especially true in the 2024 campaign.

Let’s take a look at where the Heisman odds stand coming out of Week 3.

All odds are from DraftKings Sportsbook.

Heisman Trophy Odds and Best Bets

Arch Manning, Texas
Quinn Ewers, Texas

(+2000)

The hype surrounding Arch Manning is palpable after he stepped in for the injured Quinn Ewers last game. Ewers suffered what is being called an abdominal injury and has an official designation of “week-to-week” and will not suit up for their upcoming game against Louisiana-Monroe.

Ewers has been a fantastic leader for this program the last couple of years and was firmly in the Heisman conversation prior to his injury. He has completed 73.4% of his passes for 691 yards and 8 TDs to just 2 INTs. It wouldn’t make sense to place any futures on him right now while he has an injury designation and that likely won’t change unless we are getting amazing value.

The same can’t be said for his backup Arch Manning, the player who has been named the starter for the Longhorns’ next matchup. The nephew of legendary QBs Peyton and Eli Manning has been patiently waiting his turn, and he put together a masterclass against UTSA last week. After checking into the game during the second quarter, he threw for 223 yards and scored 5 total touchdowns (4 passing/1 rushing). It was impressive enough that he completed 75% of his passes, but it was his ability to use his legs that really surprised us all. As good as Ewers is, he doesn’t offer a ton of rushing upside, and dropping a potential dual-threat like Manning into the mix makes this Texas offense even more dangerous.

Critics have said we wouldn’t be talking about Arch at all if he didn’t have a legacy last name, but after his performance against UTSA, those naysayers have gotten awfully quiet. It makes sense to drop a bet on Manning’s Heisman future because if he comes out and goes bonkers against ULM, he is going to sail towards the top of the odds board. This is a dicey situation, because when Ewers is healthy, he theoretically should take the starting gig back. But what if Arch is simply too good to keep on the bench, especially once SEC play begins?

We will continue to monitor the situation, but this is a good problem for the Longhorns to have with two elite quarterbacks on the roster.

Jalen Milroe, Alabama

(+700)

Milroe’s gone through some ups and downs in his career, but he is completely dialed in for the 2024 season thus far. He has completed 67.3% of his passes for 590 yards and 8 touchdowns with 0 interceptions. He is averaging 11.3 YPA on his throws, the fifth-best mark in all of college football. Additionally, he has rushed for 156 yards and scored 6 times on the ground. Needless to say, he is going to have a monster season, statistically speaking.

He has shaken off whatever confidence issues may have existed from the past and looks extremely poised every time he steps onto the field. He is rising up the Heisman rankings and may not be better than 7-to-1 odds the rest of the season.

Cam Ward, Miami

(+550)

The Hurricanes signal caller sits atop the Heisman odds over on DraftKings Sportsbook, which shouldn’t be surprising to anyone. When he decided to transfer from Washington State in the off-season he joined the perfect program for his playstyle. Miami is littered with weapons at all of the skill positions, which further strengthens his ability to put up numbers.

Ward was around +2500 just two months ago but has quickly soared to +550 after three games. If you watched our betting preview show at the beginning of Week 0, you were able to take our advice and get money down on Ward at great odds.

He has thrown for 1,035 yards and a whopping 11 touchdowns with just 1 interception, which happened very early in the Hurricanes’ first game against Florida. He has been flawless since that mistake and has Miami on track to have one of their best seasons in more than a decade.

To stay in the Heisman race, you simply have to deliver high-quality performances even in blowouts. Through the first quarter of the season, Ward has done just that by throwing for 385/3 against Florida, 304/3 against Florida A&M and 346/5 against Ball State. None of those games have been competitive and it’s intriguing to think about what he can do in closer matchups against better teams.

Ashton Jeanty, Boise State

(+2000)

The Broncos were off last week, but we haven’t forgotten about the scorching-hot start that running back Ashton Jeanty has had. The shifty back is so ridiculously good it almost seems like he was transported directly out of a Tecmo Bowl video game.

He has piled up a jaw-dropping 459 rushing yards and 9 touchdowns in just two games. He hasn’t even been a factor in the passing game yet either. Jeanty produced 43 receptions for 569 yards last year so we can expect his target share to go up as the season goes on. Boise State had Oregon on the ropes in week 2 and their defense simply had no answer for Jeanty as he rushed for 192 yards and 3 scores. He has an almost unbelievable 10.2 YPC thus far.

A running back hasn’t won the Heisman since 2015 when Derrick Henry did so as a member of the Alabama Crimson Tide. This is considered a quarterback’s award, but Jeanty will challenge that notion this year. Grab this value while you still can, because he is going to break the spirit of many Mountain West defenses going forward.

Avery Johnson, Kansas State

(+4000)

This is one of the more intriguing longshots to win the Heisman in 2024. Dual-threat extraordinaire Avery Johnson is the primary reason Will Howard decided to finish his collegiate career at Ohio State, as it seemed like he wouldn’t be able to hold onto the starting job with the Wildcats.

Johnson has shown flashes of brilliance during his short career, but the main criticism is that he needs to improve as a passer and his ability to make reads. We have to remember that this is only his second year of collegiate football and burst onto the scene as a true frosh last season. His accuracy has been much better through the early part of the season, completing 64.2% of his passes for 490 yards and 6 TDs while being picked off just once. He has been dangerous with his legs as expected with 187 rushing yards on 28 carries for a healthy 6.0 YPC.

He made plays when he needed to when Tulane made an upset bid in Week 2, but it was his rock-solid performance in the recent win over Arizona that puts him in the Heisman conversation. If you only look at the box score, you won’t necessarily come away impressed as he threw for 156 yards/2 TDs, but he rushed for 110 as well. Johnson frequently kept the Arizona defense guessing, and he ultimately showed us that he is ready for the grind of the Big-12 schedule.