College Football Playoff Betting Lines and Bowl Game Odds Released

The college football season is barreling toward its finale, with bowl games and the College Football Playoff (CFP) semifinals right around the corner. Fans and bettors are buzzing, gearing up for what looks like a wild finish.

From the Lockheed Martin Armed Forces Bowl to the much-hyped CFP semifinals, there’s a lot to chew on. Let’s take a look at the matchups, betting lines, and some projections—because, honestly, who doesn’t love a little speculation this time of year?

Upcoming Bowl Games

Bowl season is rolling, and January 2, 2026, is stacked with some pretty interesting games. These matchups aren’t just about bragging rights—there’s plenty of betting action to consider too.

Lockheed Martin Armed Forces Bowl

In the Lockheed Martin Armed Forces Bowl, Rice squares off against Texas State. Kickoff’s at 1 p.m. on ESPN.

This line has moved a ton: Texas State opened as a 10.5-point favorite, but now it’s all the way up to -18.5. The over/under slid from 59.5 to 55.5, so the oddsmakers are definitely expecting some changes.

• Records: Rice (5-7, 0-2 vs. AP Top 25), Texas State (6-6, 0-0 vs. AP Top 25)
• Money Line: Rice (+550); Texas State (-800)
• Over/Under: 55.5 (O -102, U -118)
• FPI Projection: Texas State by 9.4 points with an 80% probability to win outright

AutoZone Liberty Bowl

Navy and Cincinnati clash in the AutoZone Liberty Bowl at 4:30 p.m. on ESPN. The line started with Cincinnati favored by 6.5, but it’s nudged up to -7.5.

The over/under ticked down a bit too, from 57.5 to 55.5. Not a massive swing, but worth noting for folks who care about totals.

• Records: Navy (9-2, 1-1 vs. AP Top 25), Cincinnati (7-5, 1-2 vs. AP Top 25)
• Money Line: Navy (-278); Cincinnati (+225)
• Over/Under: 55.5 (O -110, U -110)
• FPI Projection: Cincinnati by 4.4 points with a 67% probability to win outright

Trust & Will Holiday Bowl

No. 17 Arizona faces SMU in the Trust & Will Holiday Bowl, with kick at 8 p.m. on FOX. Arizona’s a slim 1.5-point favorite, same as when the line opened.

The over/under did dip from 52.5 to 51.5, though. Feels like a coin flip, honestly.

• Records: Arizona (9-3, 1-2 vs. AP Top 25), SMU (8-4, 1-0 vs. AP Top 25)
• Money Line: Arizona (-108); SMU (-112)
• Over/Under: 51.5 (O -115, U -105)
• FPI Projection: SMU by 0.6 points with a 52% probability to win outright

Duke’s Mayo Bowl

Wake Forest and Mississippi State meet in the Duke’s Mayo Bowl at 8 p.m. on ESPN. Mississippi State opened as a 3-point favorite, and that hasn’t budged.

The over/under, though, has dropped from 56.5 to 53.5. Maybe folks are expecting a bit less offense than first thought.

• Records: Wake Forest (8-4, 1-1 vs. AP Top 25), Mississippi State (5-7, 1-5 vs. AP Top 25)
• Money Line: Wake Forest (+136); Mississippi State (-162)
• Over/Under: 53.5 (O -108, U -112)
• FPI Projection: Mississippi State by 2 points with a 59% probability to win outright

College Football Playoff Semifinals

Now, the main event: the CFP semifinals. These games decide who gets a shot at the title, so the stakes couldn’t be higher.

Vrbo Fiesta Bowl

No. 10 Miami takes on No. 6 Ole Miss in the Vrbo Fiesta Bowl on January 8 at 7:30 p.m. on ESPN. Miami opened as a 3-point favorite, and that line’s held steady so far.

The over/under sits at 51.5. Not much drama with the line, but the teams? That’s a different story.

• Records: Miami (10-2, 4-0 vs. AP Top 25), Ole Miss (11-1, 2-1 vs. AP Top 25)
• Money Line: Miami (-155); Ole Miss (+130)
• Over/Under: 51.5 (O -115, U -105)
• FPI Projection: Miami by 1.3 points with a 56% probability to win outright

Chick-fil-A Peach Bowl

No. 5 Oregon faces No. 1 Indiana in the Chick-fil-A Peach Bowl on January 9 at 7:30 p.m. on ESPN. Indiana opened as a 4-point favorite, and that’s where it still sits.

The over/under has edged down from 48.5 to 47.5. Not a huge change, but maybe that means something—or maybe not.

• Records: Oregon (11-1, 2-1 vs. AP Top 25), Indiana (13-0, 3-0 vs. AP Top 25)
• Money Line: Oregon (+150); Indiana (-180)
• Over/Under: 47.5 (O -105, U -115)
• FPI Projection: Indiana by 4.3 points with a 67% probability to win outright

Conclusion

Bowl season is almost here, and you can feel the anticipation building. Fans and bettors alike are gearing up for the action.

From the Lockheed Martin Armed Forces Bowl to the Chick-fil-A Peach Bowl, there’s no shortage of storylines this year. Every matchup feels like it could surprise us.