Heisman Trophy Odds Update: Michael Penix Jr. Reemerges As Frontrunner

The Heisman Trophy is one of the most coveted awards in American athletics.

In the modern era, the accolade is typically awarded to the nation's best quarterback, but it is not intended as such -- that would be the Davey O'Brien Award. Still, via the college football odds at FanDuel Sportsbook, we are seeing one particular non-quarterback on the rise: Ohio State Buckeyes receiver Marvin Harrison Jr. At 14-to-1, Harrison is a legit contender in the market.

For reference, only three players in the past 17 seasons have won the Heisman at a position other than signal-caller. Most recently, wide receiver DeVonta Smith accomplished the feat before going on to shine with the Philadelphia Eagles.

Last year's trophy winner, USC Trojans quarterback Caleb Williams, just escaped with a razor-thin victory over the California Golden Bears in Berkeley, snapping a two-game losing streak. Incidentally, Williams is now 80-to-1 in the Heisman Trophy odds at FanDuel Sportsbook.

As your new Heisman Trophy market leader, Michael Penix Jr. of the Washington Huskies has leap-frogged Michigan Wolverines quarterback J.J. McCarthy. Of course, Penix last reigned atop the Heisman odds as recently as two weeks ago.

Let's break down some of the perennial Heisman candidates to this point in the season and their respective odds to bring home college football's most celebrated individual award.

All college football odds via FanDuel Sportsbook.

*Denotes 2022 Heisman Trophy winner

Heisman Trophy Odds

Michael Penix Jr., QB, Washington (+270)

At 8-0 straight up, No. 5 Washington has been one of the most impressive college football programs in the country. Naturally, much of that dominance for UDub starts on offense, led by their prolific lefty quarterback. Penix is completing passes at a 69% clip while averaging 10.7 adjusted yards per attempt. Already, he has tossed 24 touchdowns in 2023.

In Washington's most recent showing, Penix dazzled on The Farm against the Stanford Cardinal. Needing every bit of it, he produced 369 passing yards and four scores in the 42-33 victory.

The Huskies are entering their toughest stretch of the season, which will essentially be the make-or-break portion for Penix's Heisman bid. With four games remaining in the regular season, Washington's next three contests are all against teams ranked on the AP poll: No. 24 USC, No. 18 Utah Utes and No. 16 Oregon State Beavers. Stay tuned!

J.J. McCarthy, QB, Michigan (+300)

McCarthy's run as the odds-on favorite at FanDuel Sportsbook to win the Heisman Trophy lasted just one week, but he still has every opportunity to surge back ahead, especially considering that No. 2 Michigan remains undefeated at 8-0.

With a white-hot QBR of 93.8, McCarthy has the best figure in all of FBS in that category. At 78.1%, his completion clip is equally as impressive. It is tough to even rationalize his odds drop from +250 last week to +300 currently -- the Wolverines were idle last weekend.

Like Penix, McCarthy sees his toughest tests ahead. Michigan will next match up with the Purdue Boilermakers before seeing the No. 9 Penn State Nittany Lions and No. 3 Ohio State Buckeyes. Hey, iron sharpens iron. Can McCarthy run the table?

Bo Nix, QB, Oregon (+550)

As one of the most substantial risers after last week's games (showing +1200 odds at FanDuel Sportsbook before beating the No. 18 Utah Utes), Oregon Ducks quarterback Bo Nix is enjoying the best season of his college career.

In his second season for UO, Nix has passed the football with precision (78.3% completion rate in 2023) and intention (21 touchdowns versus one pick). Like McCarthy, he has a QBR (85.0) that lands him top-four in the country right now.

At 7-1, the Ducks still hold College Football Playoff aspirations (+175 odds) as well as hopes of earning a final Pac-12 championship (+110). If they stay successful over their final four games of the regular season, Nix will receive authentic consideration for the Heisman. Still, he will need major upcoming performances against USC and the rival No. 16 Oregon State Beavers to leapfrog the competition.

Marvin Harrison Jr., WR, Ohio State (+1400)

Skipping a couple of players, let's shine the light on a non-quarterback because receiver Marvin Harrison Jr. is certainly doing something special at Ohio State.

Of course, talented and decorated wideouts have always been a frequent occurrence throughout history for the Buckeyes, but the younger Harrison seems to be in a class all his own. After starting the season at 30-to-1 odds to win the Heisman at FanDuel Sportsbook, he is down to +1400.

As the son of an NFL Hall of Fame wide receiver, Harrison has long known the expectations of excellence. Eight games into his junior season, he has already compiled 889 receiving yards behind a staggering 18.3 YPC. For reference, DeVonta Smith had just 15.9 YPC in his Heisman-winning campaign.

Harrison will need to ramp up his scoring production if looking to take command of this market. His eight touchdowns in 2023 is impressive but not quite at the level needed to win the Heisman Trophy -- Smith scored 24 TD in 2020. However, he could put up lofty figures over the next three games. Before traveling to archrival Michigan in the finale, Ohio State will face the Rutgers Scarlet Knights, Michigan State Spartans and Minnesota Golden Gophers.

Longer Shots

• Carson Beck, QB, Georgia (+2500)

• Dillon Gabriel, QB, Oklahoma (+1200)

• Ollie Gordon II, RB, Oklahoma State (+6000)

• Caleb Williams, QB, USC (+8000)

• Jalen Milroe, QB, Alabama (+10000)

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The above author is a FanDuel employee and is not eligible to compete in public daily fantasy contests or place sports betting wagers on FanDuel. The advice provided by the author does not necessarily represent the views of FanDuel. Taking the author's advice will not guarantee a successful outcome. You should use your own judgment when participating in daily fantasy contests or placing sports wagers.