Heisman Odds After Week 12: Caleb Williams Makes Huge Move

• USC quarterback Caleb Williams had 503 yards of total offense in a win over UCLA
• Williams saw huge improvement in his Heisman odds, becoming a top-two favorite for the award
• Read below for the updated Heisman odds, plus analysis on the contenders

According to oddsmakers, the Heisman race is down to CJ Stroud and Caleb Williams. The latter gained major ground on the former following Week 12 of college football.

Hendon Hooker and Blake Corum, meanwhile, both saw their Heisman odds take a hit due to injuries, while popular underdog Drake Maye plummeted in the odds following a shocking upset loss.

The table below displays the updated Heisman odds following Week 12 of the season. Under the table, find analysis on the Heisman race.

Heisman Odds

Odds as of Nov. 20 at DraftKings. Use the DraftKings Sportsbook promo code to make your Heisman wagers.

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Caleb Williams Heisman Odds

USC quarterback Caleb Williams may have earned his invite to New York with his performance in Week 12. The ex-Oklahoma pivot had 503 yards of total offense and accounted for three touchdowns in a crucial 48-45 win over UCLA.

USC vs UCLA was the marquee matchup of Week 12, and all of the college football watched as Williams lead the Trojans to victory, keeping their CFP dreams alive. Oddsmakers took notice too, as they dropped Williams’ Heisman odds from +1200 to +130.

THIS THROW 😮🔥

Unreal arm talent by @CALEBcsw 👏 pic.twitter.com/yr2vzC9cSb

— FOX College Football (@CFBONFOX) November 20, 2022

Williams entered the day as the fifth betting choice for the award, but now he’s the clear second favorite behind Ohio State’s CJ Stroud. Some of this is due to Williams’ great Week 12 performance, but there are also external factors that we’ll discuss further below.

Williams has two final chances to bolster his Heisman odds; a game against Notre Dame in Week 13 and the Pac-12 Championship on December 2nd. The Heisman will be voted on before the CFP begins.

CJ Stroud Heisman Odds

CJ Stroud remains the Heisman favorite after Week 12 despite a heroic performance from his competitor Caleb Williams. Stroud didn’t have as good a performance as Williams did Saturday, but he still has something Williams doesn’t; an undefeated record.

Stroud passed for 241 yards and one touchdown as the Buckeyes stayed unbeaten with a 43-30 win over Maryland. The second-year quarterback wasn’t the start of the show for OSU in Week 12, as it was running back Dallan Hayden who went off for three scores.

DraftKings Sportsbook had Stroud as a -105 odds-on favorite to win the Heisman at the start of the day, before moving him to a +100 plus-money favorite during the game. By the time Week 12 was over, however, Stroud was sitting at -125.

Stroud still leads the nation with 34 TD tosses and his biggest game (vs Michigan) is in front of him. If the California native balls out in what’s projected to be the most-watched college football game of the regular season, he’ll likely lock up the trophy.

Hendon Hooker, Blake Corum Heisman Odds

The Heisman race was fairly wide open entering Week 12, but now it appears to be down to two contenders (Stroud & Williams). This is partly due to Tennessee’s Hendon Hooker and Michigan’s Blake Corum suffering injuries in Week 12.

Hooker threw for 247 yards and three touchdowns against South Carolina before suffering a knee injury and exiting the game. Corum, meanwhile, had 108 yards rushing and one TD vs Illinois before taking a hit to the knee and leaving the game.

No surprises here.

With his TD earlier today, @blake_corum made @UMichFootball history! 🔥 pic.twitter.com/jyHWD1ASWy

— FOX College Football (@CFBONFOX) November 19, 2022

Michigan was able to squeeze out a 19-17 victory over the Illini without Corum, but Hooker’s absence for the Vols proved crushing, as the Gamecocks scored 21 straight points in the fourth quarter en route to a 63-38 upset victory.

When it comes to the Heisman odds, Corum dropped from +600 to +1600, while Hooker (previously +360) was taken off the board entirely. With Tennesse having two losses and missing the conference title game, Hooker’s Heisman campaign is over.

Corum’s price adjustment is interesting, as the Michigan running back still has the chance to play in the Ohio State game. Corum has been remarkably consistent this season, so this betting line indicates oddsmakers might not be too optimistic about the injury.

Other Week 12 Heisman Notes

North Carolina quarterback Drake Maye was the other college football star getting serious Heisman talk entering the Week 12 slate. Unfortunately, Maye’s Heisman odds plummeted after UNC suffered an upset loss to Georgia Tech.

Maye’s Heisman odds fell from +600 to +10000 after the game, marking one of the biggest slides of the season. The odds shift is justified, though, as Maye finished with no touchdowns against a four-win Yellow Jackets program.

LSU’s Jayden Daniels and TCU’s Max Duggan round out the top-five Heisman favorites following Week 12. Daniels had 375 yards of total offense and one TD in a 41-10 win over UAB, while Duggan accounted for 377 yards of total offense and two scores in a close win over Baylor.

The latest Heisman odds suggest the top three finalists will be Stroud, Williams and Corum. Daniels and Duggan may now be in the top five, but they are priced at +4000, meaning oddsmakers think they only have 2.4% chance to actually win.