Updated Heisman Trophy Odds: Caleb Williams Still Heavy Favorite to Repeat

The Trojans’ signal-caller has the best odds to become the second player ever to win the Heisman twice.

Only one player in college football history has ever won the Heisman Trophy twice.

Ohio State running back Archie Griffin did so in 1974 and again in ‘75. USC quarterback Caleb Williams, the defending Heisman winner and current betting favorite for 2023, could join Griffin in that exclusive club this year.

The Trojans’ signal-caller has been well ahead of the pack since spring football was being played. As the season draws near, we’re seeing which players are in line to compete with Williams for the honor. UNC’s Drake Maye, Oregon’s Bo Nix, Florida State’s Jordan Travis, LSU’s Jayden Daniels and Washington’s Michael Penix Jr., all of whom are quarterbacks, make up the top tier of contenders. Only Penix and Maye joined Williams among the top 10 vote-getters in 2022; they finished eighth and 10th, respectively.

The Heisman Trophy has come to be known as almost exclusively a quarterback award over the last few decades, with very few exceptions. That’s why even the top players at wide receiver -- like Ohio State’s Marvin Harrison Jr. (+1700) -- and running back -- Michigan’s Blake Corum (+2500) -- have such long odds to win the award.

2023 Heisman Trophy Odds

Caleb Williams, USC +400
Drake Maye, North Carolina +900
Bo Nix, Oregon +1100
Jordan Travis, Florida State +1100
Jayden Daniels, LSU +1100
Michael Penix Jr., Washington +1100
Quinn Ewers, Texas +1200
Sam Hartman, Notre Dame +1300
Cade Klubnik, Clemson +1600
J.J. McCarthy, Michigan +1600

Williams tossed 42 touchdowns in his sophomore season to lead the nation and amassed 4,537 passing yards, third-most in the FBS. He also added 382 rushing yards and 10 more scores on the ground. USC went 11–1 in the regular season to clinch a spot in the Pac-12 title game, where it lost to Utah. Williams was the first Heisman winner since Lamar Jackson six years prior whose team did not earn a spot in the College Football Playoff.

Heading into 2022, Williams was +700 to win the Heisman. The heavy favorite was Ohio State’s C.J. Stroud at +210, followed by Alabama’s Bryce Young — the 2021 Heisman winner — at +380. Williams was third on the list.

Williams will be without his top target, Jordan Addison, when he mounts his Heisman defense. Addison was drafted by the Vikings in the first round after he led the team in all receiving categories. Williams’s top options this year will include receivers Tahj Washington, Mario Williams, Brenden Rice and Arizona transfer Dorian Singer.

Maye had the stats to rival Williams last season as a redshirt freshman. He threw for 4,321 yards and 38 touchdowns, both top-five marks nationally. He also spearheaded UNC’s rushing attack with 698 yards to put him over 5,000 total yards.

The Tar Heels got off to a 9–1 start behind Maye’s play, though they lost the last two games of the regular season and were blown out by Clemson in the ACC Championship. With the departure of North Carolina’s top receivers Josh Downs and Antoine Greene, Kent transfer Devontez Walker will be a welcome addition to the offense.

After three spotty seasons at Auburn, Nix’s first year with the Ducks was a success. He threw for 3,593 yards and 29 touchdowns and ran for 510 yards and 14 rushing touchdowns, all career-highs, and Oregon finished the regular season 9–3 after an 8–1 start. The Ducks’ leading receiver, Troy Franklin, is returning and Nix’s adopted brother Tez Johnson, a transfer from Troy, is a new face in the receiver room.

Travis returns to the Seminoles as a redshirt senior following his breakout year. He tallied 3,214 passing yards and 31 total touchdowns in the process of leading FSU to a 9–3 record, the program’s first winning season since 2017. Travis’s top target, Johnny Wilson, is back in the fold.

Daniels led the Tigers to a win over Alabama and an SEC title game appearance in his first year in Baton Rouge. He recorded his finest individual season as a passer, racking up 2,913 yards, 17 touchdowns and just three interceptions. Daniels added 885 rushing yards and 11 scores on the ground and finished second in the conference in total offense. With the entire offensive line and standout receiver Malik Nabers back, Daniels is well-positioned to build on his 2022 campaign.

Penix returns to the Huskies after a record-breaking season. Throughout a 10–2 campaign, he racked up 4,641 passing yards and 31 passing touchdowns. That was good for the second-most passing yards in the FBS and the most in school history. Washington’s three leading receivers—Rome Odunze, Jalen McMillan and Ja’Lynn Polk—are all back for another go-around with Penix under center.

Of the top six Heisman candidates, three are from the Pac-12, two hail from the ACC and one is from the SEC. USC’s schedule pits Williams against several players who will attempt to unseat him for the award: The Trojans play at Notre Dame on Oct. 14, against Washington on Nov. 4 and at Oregon Nov. 11, three potentially pivotal matchups to circle that could play a role in deciding the race.

There’s still a few weeks before the beginning of the new college football season in late August, but Williams is poised to enter the fall as a strong favorite to repeat as the Heisman winner. However, that’s not to say there’s no worthy contenders who could challenge him for the title as the sport’s most outstanding player.

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