College football odds: National championship lines, picks

The College Football Playoff is set! The No. 1 Alabama Crimson Tide will take on the No. 4 Cincinnati Bearcats in the Cotton Bowl, while the No. 2 Michigan Wolverines will battle the No. 3 Georgia Bulldogs in the Orange Bowl on New Year's Eve.

From a betting perspective, the 12-1 Crimson Tide are your odds-on favorites to win the college football national title.

Here are the updated odds to win the national title for the top-four contenders at FOX Bet.

Alabama Crimson Tide: +120 (bet $10 to win $22 total)

Georgia Bulldogs: +140 (bet $10 to win $24 total)

Michigan Wolverines: +700 (bet $10 to win $80 total)

Cincinnati Bearcats: +1600 (bet $10 to win $170 total)

*Odds as of 12/22 at 1:45 p.m. ET

Alabama replaced 12-1 Georgia as the favorite after the Crimson Tide laid the wood on the Bulldogs on Saturday, 41-24. Following the College Football Playoff committee's final Playoff Rankings on Sunday, Alabama moved all the way down from +650 earlier this month to +120 to win it all at FOX Bet.

That means Alabama is now the favorite over the rest of the field as +120 odds translate to a 45.5 percent implied probability of a Crimson Tide national championship. 

Georgia's odds lengthened to +140 from -213 after the SEC championship game loss. 

After Michigan's victory over Iowa for the Big Ten championship, the Wolverines number to win the title shortened from +900 to +700.

The Bearcats close out the top four at +1600 to win it all after their victory over Houston in the American Athletic Conference championship game. Cincinnati is the first team from the Group of 5 to make the CFP.

Alabama and 13-0 Cincinnati will play in the Cotton Bowl on Dec. 31 at AT&T Stadium in Arlington, Texas. The Crimson Tide are 12.5-point favorites over the Bearcats at FOX Bet.

Georgia and 12-1 Michigan will play in the Orange Bowl on Dec. 31 at Hard Rock Stadium in Miami Gardens, Fla. The Bulldogs opened as 7.5-point favorites vs. the higher-seeded Wolverines.

The winners will meet for the national championship at 8 p.m. (ET) on Jan. 10 at Lucas Oil Stadium in Indianapolis.

And if you are looking to sprinkle a few dollars on an early pick, FOX Sports betting expert Sam Panayotovich suggests this is a good time to buy-low on the Bulldogs.

"Georgia was -200 to win the national title on Saturday morning and they got thumped by Alabama thanks to an A+ game from Bryce Young. But, can Young do it to Georgia’s defense again without receiver John Metchie? Metchie reportedly tore his ACL against the Bulldogs and I’m very interested to see if Alabama’s passing attack can thrive with Jameson Williams seeing plenty of double coverage the rest of the way.

"There’s no reason to bet the Tide now when they were around 7-1 heading into the SEC Championship. Georgia should be the move at +135 (currently +140)."

PICK: Georgia to win the national championship (+135 at FOX Bet at time of pick)

For even more on the committee's decisions, check out RJ Young's reaction to the latest College Football Playoff Rankings.

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