Michigan, Texas open as CFP favorites

(Photo credit: Junfu Han / USA TODAY NETWORK)
No. 1 Michigan and No. 3 Texas have been installed as the favorites to win their College Football Playoff semifinal games on New Year's Day.

Texas will face No. 2 Washington in the first game of the day at 5 p.m. ET in the Rose Bowl. The Wolverines opened as 1.5-point favorites at BetMGM and FanDuel, while DraftKings is offering Michigan -2.0.

The Crimson Tide were the contr