A Caesars Sportsbook bettor wagered $1.5 million on Texas to win the national title to kick off what sportsbooks expect to be a huge betting handle on the inaugural 12-team College Football Playoff.
The bet, which was placed at +390 odds, would net a profit of $5.75 million if the Longhorns win it all. A Caesars bettor also lost a $500,000 money-line wager on Texas (-135) on Saturday when it was defeated 22-19 in overtime by Georgia in the SEC championship game.
The No. 5 Longhorns are 11-point home favorites over No. 12 Clemson in their CFP first-round game Dec. 21 after the line opened at 11½ on Sunday. If Texas wins, it'll play No. 4 Arizona State in the CFP quarterfinals.
No. 8 Ohio State is a 7½-point home favorite over No. 9 Tennessee in their first-round matchup Dec. 21 after sharp bettors backed the Buckeyes at -7.
"Right when we opened Ohio State, they laid -7," Westgate vice president of race and sports John Murray said. "We got up to 8 and we're back down to 7½, but for sure there was some sharp money on Ohio State."
No. 7 Notre Dame is a consensus 7½-point home favorite over No. 10 Indiana in their first-round matchup Dec. 20. The line is 8 at the South Point. It's also 8 at Station Sports, which reported sharp action on the Fighting Irish at -7½.
"We saw a little sharp action on Ohio State that pushed us up from 7 to 7½, and we saw a little sharp action on Notre Dame, which pushed us up," Red Rock Resort sportsbook director Chuck Esposito said.
Title path paved for Penn State
No. 6 Penn State is a consensus 8½-point home favorite over No. 11 SMU in their first-round game Dec. 21. The Nittany Lions, who will play No. 3 Boise State in the CFP quarterfinals if they beat the Mustangs, moved to the fifth favorite to win the national title behind Oregon (+350), Texas (+350), Georgia (+380) and Ohio State (+525).
"Penn State opened (Sunday) up at (12-1) and has since landed on +650, considering their path to the CFP championship," Caesars head of football Joey Feazel said. "Notre Dame was the victim of that change, going from +750 to 10-1 based on their path, and Ohio State also got a bump from +450 to +525."
If the Irish beat the Hoosiers, they'll face No. 2 Georgia in the quarterfinals. If Ohio State beats Tennessee, it will face No. 1 Oregon in the quarterfinals.
"I was confused as to why Penn State got such a sweetheart draw. They get to play SMU, then they get to play Boise State in the next game," Murray said. "I thought Notre Dame had a bad draw, honestly, for them to be seeded below Penn State. And if they do beat Indiana, they've got to play Georgia.
"But from a gambling perspective, I love the College Football Playoff. It's going to be great for business."
With all four favorites favored by more than a touchdown, Murray expects to be bombarded with money-line parlays and teasers.
"If you get all the favorites to come in, the books are really going to be scrambling on Saturday night, the 21st, because they're going to need Tennessee for their lungs," he said. "There's going to be so much money line, teaser and parlay action going to Ohio State."
Red Rock Resort sportsbook director Chuck Esposito also expects the CFP to boost business in bowl games.
"The bowl system has not been the same for the last several years with kids sitting out for the NFL draft and entering the transfer portal," he said. "Getting these games that mean something, I think you'll see a huge handle on the playoff games."
Bowl lines
Cal is a 4-point favorite over UNLV at Caesars in the LA Bowl on Dec. 18 at SoFi Stadium in Inglewood, California. The total is 51½. The Rebels are +126 on the money line.
Texas A&M is a 2½-point favorite over USC in the Las Vegas Bowl on Dec. 27 at Allegiant Stadium. The total is 50½. The Trojans are +118 on the money line.