2025 Heisman Trophy Odds: Mendoza Takes Over After Mateer Injury

• College football Heisman odds are available for the 2025 NCAAF season
• Indiana’s Fernando Mendoza leads at +650 after John Mateer’s injury and Week 4 performances
• Track the 2025 Heisman odds movement for all contenders throughout the season

---

The Heisman Trophy is college football’s most prestigious award, presented annually to the most outstanding player in the sport. The 2025 Heisman race has been completely turned upside down through four weeks. None of the preseason favorites are seriously in contention anymore, and a Cal transfer quarterback now leads the pack.

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 +650 to win the Heisman Trophy. The Indiana quarterback leads all contenders after taking over following John Mateer’s injury. The +650 odds give Mendoza a 13.3% implied probability to win the award. A $20 bet on Mendoza would profit $130 if he wins.

The Heisman race took another dramatic turn when John Mateer, who was the favorite at +825, suffered a hand injury that requires surgery. His odds were pulled from most books immediately after the news broke Tuesday. Mateer will miss about a month, potentially including Oklahoma’s biggest games.

Mendoza seized the opportunity with a stunning performance against Illinois. The Cal transfer completed 21 of 23 passes for 267 yards and five touchdowns in Indiana’s 63-10 victory. He’s now thrown 14 touchdowns without an interception this season.

*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:

• [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. All of the top contenders are quarterbacks, with Fernando Mendoza (Indiana), Dante Moore (Oregon), Carson Beck (Miami), and Gunner Stockton (Georgia) leading the way.

• All top 10 favorites are quarterbacks
• No running backs or receivers currently in the top 15
• Preseason favorite Arch Manning has fallen to +2500

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 picks, 11 pass breakups, 32 tackles

Coach Prime let Hunter do his thing all season. The kid played 118 snaps per game. That’s 709 on offense and 713 on defense.

Hunter’s win broke the QB stranglehold on the trophy. Quarterbacks had won 18 of the previous 22 Heismans before Hunter shook things up. Maybe more two-way players and defensive stars will get a real shot now.

Recent Heisman Trophy 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 could 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 currently favored to win the 2025 Heisman Trophy. The Indiana quarterback sits at +650 after his five-touchdown performance against Illinois in Week 4 and John Mateer’s injury.

When is the Heisman Trophy awarded?

The Heisman Trophy gets handed out in early December, right after the regular season ends.

What happened to John Mateer?

John Mateer needs surgery on his right hand and will miss approximately a month. The Oklahoma quarterback was the Heisman favorite at +825 before the injury. His odds were pulled from most sportsbooks after the news broke Tuesday.

What happened to Arch Manning's Heisman odds?

Arch Manning’s odds have crashed from +650 preseason favorite to +2500 after four weeks. The Texas quarterback has struggled badly, getting booed at home against UTEP after completing just 44% of his passes.

Who made the biggest jump in Week 4?

Fernando Mendoza made a huge jump from +2650 on September 15 to +875 on September 22, then became the favorite at +650 after Mateer’s injury. Josh Hoover also surged from +4717 to +1600 after TCU’s win over SMU.

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.

---

Archived Heisman Trophy Odds:

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