2025 Heisman Trophy Odds: Mendoza Leads After Conference Championships

• College football Heisman odds are available for the 2025 NCAAF season
• Fernando Mendoza leads at -2000 after Indiana’s Big Ten Championship win
• Voting closes Monday, December 9 at 5 p.m. ET with ceremony on December 13

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The Heisman Trophy is college football’s most prestigious award, presented annually to the most outstanding player in the sport. Fernando Mendoza has basically locked up the 2025 Heisman after leading Indiana to a 13-10 upset win over Ohio State in the Big Ten Championship. The ceremony takes place Saturday, December 13, 2025, in New York at 7 p.m. Eastern on ABC.

Check out the Heisman Trophy odds available at our most trusted sportsbooks below. The graphs underneath the table show each player’s average odds to win the 2025 Heisman.

2025 Heisman Trophy Odds

Fernando Mendoza currently sits at -2000 to win the Heisman Trophy. The Indiana quarterback became the overwhelming favorite after his gutsy performance in the Big Ten Championship game, where he took a brutal hit on the first play and came back to lead the Hoosiers to their first conference title since 1967. The -2000 odds give Mendoza a 95% implied probability to win the award. A $100 bet on Mendoza would only profit $5.

Diego Pavia sits at +1400 after his 3,192-yard, 27-touchdown season for Vanderbilt. The Commodores quarterback led his team to a program-record 10 wins and became the first player in SEC history with four straight games of 400+ total yards. Jeremiyah Love (+40000) and Julian Sayin (+50000) round out the remaining longshots after Conference Championship weekend.

Sayin’s odds crashed from +190 before the Big Ten Championship to +50000 after struggling against Indiana. He threw an interception, failed a critical fourth-and-1 sneak, and took six sacks in Ohio State’s 13-10 loss. That performance essentially ended his campaign.

*Heisman odds above are updated every 15-60 minutes from top-rated college football betting apps, including FanDuel, DraftKings, and BetMGM.

Odds to Win 2025 Heisman Trophy

Here are some notes on the Heisman Trophy odds movement:

• [December 7] Fernando Mendoza locked up the Heisman at -2000 after leading Indiana to a 13-10 win over Ohio State in the Big Ten Championship. He threw for 222 yards and a touchdown despite taking a brutal hit on the game’s first play. Julian Sayin cratered from +190 to +50000 after struggling in the loss. Diego Pavia briefly became the favorite at -110 when both quarterbacks threw early interceptions, but finished at +1400 once Mendoza delivered in the clutch.
• [October 20] Fernando Mendoza strengthened his lead, tightening from +453 to +333 after his 332-yard, four-touchdown performance against Michigan State. Julian Sayin made a massive jump, shortening from +1650 to +400 after throwing for 393 yards and four touchdowns against Wisconsin. Diego Pavia improved from +5250 to +850 after striking the Heisman pose in Vanderbilt’s upset of LSU.
• [September 23] Fernando Mendoza took over as the Heisman favorite after John Mateer’s injury news broke. Mateer needs surgery on his right hand and will miss approximately a month, with his odds immediately pulled from most sportsbooks. Mendoza, fresh off his five-touchdown performance against Illinois, moved to +650 and became the new betting favorite.
• [September 22] John Mateer held onto the top spot at +825 before his injury, while Fernando Mendoza sat at +875. Carson Beck’s odds drifted to +1400, Dante Moore was at +1150, and Josh Hoover made a huge jump to +1600 from +4717 the previous week after his five-touchdown game against SMU.
• [September 15] After Week 3, John Mateer strengthened his position as the favorite at +875. Carson Beck sat second at +700, while Fernando Mendoza was a distant +2650. Gunner Stockton (+1267) and Jeremiah Smith (+1533) rounded out the top five.
• [September 2] Florida State’s Tommy Castellanos made the week’s biggest move after stunning Alabama. His odds rocketed from +12500 to +3000 following his 150-yard passing, 75-yard rushing performance in the 31-17 upset.
• [September 2] Arch Manning’s debut disaster sent him tumbling down the board. The Texas quarterback went from +650 favorite to +1533 after throwing for just 170 yards with a pick in the 14-7 loss to Ohio State.
• [August 22] Final preseason update shows Arch Manning as the +650 favorite, with Garrett Nussmeier at +883 and Cade Klubnik at +900 rounding out the top three.
• [January 31] Arch Manning opens as the +750 favorite to win the 2025 Heisman Trophy. The Texas QB takes over a loaded offense despite limited 2024 snaps. LSU’s Garrett Nussmeier sits second at +800.

Heisman Trophy Betting Trends

• A quarterback has won 20 of the last 24 Heisman Trophies
• Since 2000, only four non-QBs have won the award – three running backs and Travis Hunter (CB/WR)
• Travis Hunter broke a 27-year drought for defensive players in 2024
• Winners typically come from teams that win at least 10 games

Top Contenders by Position

The quarterback position completely dominates the current Heisman race. Fernando Mendoza (Indiana), Diego Pavia (Vanderbilt), Julian Sayin (Ohio State), and Gunner Stockton (Georgia) are the only realistic contenders remaining. Notre Dame running back Jeremiyah Love sits at +40000, making him the only non-quarterback with any chance at all.

• Top 4 favorites are quarterbacks
• Notre Dame’s Jeremiyah Love is the only RB in the top 5 at +40000
• Preseason favorite Arch Manning has crashed to +22500

Who Usually Wins the Heisman Trophy?

Quarterbacks have owned the Heisman Trophy for years. Then Travis Hunter showed up in 2024 and changed everything as a cornerback/receiver.

Travis Hunter’s Historic 2024 Heisman Win

Colorado’s Travis Hunter became the first defensive player to win the Heisman since Charles Woodson in 1997. Playing both cornerback and receiver, Hunter put up crazy numbers on both sides:

• Offense: 92 catches, 1,152 yards, 14 TDs
• Defense: 4 INTs, 11 pass breakups, 30 total tackles

Hunter played over 95% of Colorado’s snaps on both sides of the ball. He dominated college football in a way nobody had seen in decades.

Recent Heisman Winners

Before Hunter and DeVonta Smith (2020), you have to go back to 2015 for a non-QB winner. That was Alabama’s Derrick Henry at running back. Charles Woodson in 1997 was the only other defensive player to take home the hardware.

Since 2000, quarterbacks have won 20 of 24 Heismans. Only four other guys broke through: Henry (RB), Smith (WR), Hunter (CB/WR), and Reggie Bush (RB).

Where Can You Bet on the Heisman Trophy?

All the main sports betting apps offer Heisman Trophy betting, including BetMGM, DraftKings, FanDuel, Caesars, bet365, and ESPN Bet among others. Some sites pull their Heisman odds on Saturdays during games but they’ll be back once the books adjust for the day’s results.

Heisman Trophies by Conference

The SEC leads all conferences with nine Heisman winners since 2000. The Big Ten will get their third if Mendoza captures the award for Indiana. The conference realignment has shaken up traditional conference dominance.

Heisman Odds FAQ

Who's the favorite to win the 2025 Heisman?

Fernando Mendoza is overwhelmingly favored to win the 2025 Heisman Trophy. The Indiana quarterback sits at -2000 after leading the Hoosiers to a 13-10 upset win over Ohio State in the Big Ten Championship game. He finished the season 13-0 with 2,980 passing yards, 33 touchdowns, and just six interceptions.

When is the Heisman Trophy awarded?

The Heisman Trophy ceremony takes place Saturday, December 13, 2025, in New York at 7 p.m. Eastern on ABC. Voting closes Monday, December 9 at 5 p.m. ET.

What happened to Julian Sayin's Heisman odds?

Julian Sayin’s odds crashed from +190 before the Big Ten Championship to +50000 after struggling against Indiana. The Ohio State quarterback threw an interception, failed a critical fourth-and-1 sneak, and took six sacks in the 13-10 loss. That performance essentially ended his Heisman campaign.

What happened to Arch Manning's Heisman odds?

Arch Manning’s odds have crashed to +22500. The preseason favorite at +650 has fallen completely out of the race after Texas struggled through the season.

Who are the other Heisman contenders?

Diego Pavia sits at +1400 after leading Vanderbilt to a program-record 10 wins with 3,192 passing yards and 27 touchdowns. Jeremiyah Love (+40000) is the only non-quarterback with any realistic chance remaining. Gunner Stockton sits at +50000 after Georgia’s SEC Championship win.

Has a freshman ever won the Heisman?

Only two freshmen have won the Heisman Trophy. Johnny Manziel (2012) was the first, as a redshirt freshman. Jameis Winston (2013) is the only true freshman ever to win the award.

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Archived Heisman Trophy Odds:

• 2024
• 2023
• 2022
• 2021
• 2020
• 2019
• 2018