NCAA football betting: Alabama now favorite to win national championship

After a resounding win over Georgia in the SEC title game, Alabama is now the betting favorite to win the national championship.

Alabama earned the No. 1 seed in the College Football Playoff by upsetting the previously unbeaten Bulldogs 41-24 on Saturday. As a result, Alabama is now +120 to repeat as national champion. A week ago, Alabama was listed at +600.

Georgia had been a significant national title betting favorite at BetMGM over the past few months but is now behind the Crimson Tide — but not by much. Georgia, the No. 3 seed, is listed at +135 after being -225 last week.

Next in line is No. 2 Michigan, which will face Georgia in the CFP semifinals. Michigan blew out Iowa in the Big Ten title game to seal a place in the four-team playoff. The Wolverines are listed at +750 with No. 4 seed Cincinnati at +1400. The undefeated Bearcats are 13-0 and the first program from a Group of Five conference to reach the playoff.

Bettor hoping to cash in on Cincinnati

One BetMGM customer can win $120,000 on the outcome of the College Football Playoff. That bettor wagered $4,000 on Cincinnati at +3000. The Bearcats are still significant underdogs, but many thought it would be impossible for a Group of Five team to crack the top four.

Another BetMGM customer can win $50,000. That bettor put $500 on Michigan back when UM was listed at +10000 to win the national championship. Now that bettor is two steps away from cashing that ticket for $50,000.

There are a few other notable futures bets at BetMGM that still can win. One is a $4,000 wager on Georgia +600 that would win $24,000. Another bettor put down $2,500 on Alabama at +400. That bet would win $10,000 if the Crimson Tide can repeat as national champions.

Alabama has received 20.2% of the national title bets and 22.3% of the money. Michigan is next at 18.3% of the bets and 23.2% of the money. Georgia is third at 10.3% of the bets and 16.4% of the money with Cincinnati receiving 6.2% of the bets and 6.3% of the money.

Alabama, Michigan taking heavy action in CFP semifinals

Alabama is currently a 14-point favorite over Cincinnati with the total at 58.5. So far, BetMGM is reporting that Alabama has taken 81% of the bets and 87% of the money. In regards to the total, the betting splits are pretty even with 51% of the bets and 54% of the money on the under.

In the other semifinal, Georgia is a 7.5-point favorite over Michigan but bettors are jumping all over the Wolverines. According to BetMGM, 77% of the bets and 80% of the money are on the underdogs.

Additionally, 82% of the bets and 84% of the money for that game are on the over. The total is currently sitting at a very low number of 43.5.