Odds to win the Heisman Trophy: Hendon Hooker is doing big things at Tennessee
Hendon Hooker has been leading the Volunteers into uncharted territories this season. Photo by John Amis, File/AP.

As the college football season completes its first full month of play, several players have separated themselves from the pack as Heisman contenders.

The latest: C.J. Stroud has been lighting it up at Ohio State, Caleb Williams and Lincoln Riley are ushering in a new era of USC football out west and Hendon Hooker may be the best Tennessee quarterback since Peyton Manning.

Here are the latest Heisman Trophy odds through Week 4.

Heisman Trophy odds

Check out the latest odds to win the Heisman. Click linked odds to add selection to betslip.

PlayerOdds (Oct. 2)Odds (Sept. 26)Odds (Sept. 19)Preseason odds
C.J Stroud+100+125+225+175
Caleb Williams +700+300+300+750
Bryce Young+1,000+500+500+350
Stetson Bennett +600+600+10,000
Will Anderson +1,200+1,000+1,500
Hendon Hooker+1,400+4,000N/A
J.J. McCarthy +2,000+2,500N/A
Devin Learly+2,500+2,500N/A
K.J. Jefferson+3,300+3,300N/A
Sam Hartman+4,000+3,300N/A

Odds as of 5:58 p.m. on 09/26/2022.

Best Heisman Trophy odds

The favourite: C.J. Stroud (+125)

Stroud finished fourth in last year's Heisman voting and is the current favourite to take home the trophy after an immaculate first three games.

It's hard to argue against Stroud being a viable candidate. After a redshirt season, he won the job as Ohio State's starting quarterback and never looked back. Take a look at the video game-like numbers he's put as a freshman and how he's followed it up this year:

Stroud 2021-2271.9%4,43544691.6
Stroud 2022-2372.9%1,22216195.4
Stats via ESPN.com

Stroud's QBR of 95.4 is the second-best mark in the nation and he's first with 16 touchdowns. He had seven games with four-plus TD passes last year and already has three this season.

Ohio State's offence also hasn't seen much of Jaxon Smith-Njigba, who's been dealing with an injury. He and Marvin Harrison Jr. headline up an impressive receiving core that is among the best in the nation.

Despite the lack of Smith-Njigba, Stroud happily torched Wisconsin in Week 4, throwing for 281 yards and five touchdowns. That was good for a near-perfect passer rating of 98.7.

If you had to detract from Stroud's Heisman case it would be how he doesn't run the ball. The 20-year-old rushed for negative yards in 2021 with zero touchdowns and has just nine rushing yards this season.

In an era of dual-threat quarterbacks, Stroud has been a pure passer. That being said, he's the best passer in the country.

Other Heisman choices

Best value: Caleb Williams (+300)

Williams has the second-shortest odds of any player, so at first glance, you may not associate that with value. But we believe the USC quarterback is on the cusp of a historic season.

After emerging as one of the top quarterbacks in college football, Williams garnered national attention for his move to USC with Lincoln Riley. The duo both left Oklahoma following the 2021 season and look to usher in a new era of Trojan football.

He's thrown for 1,054 yards with nine touchdowns and no interceptions through three games. Williams' 85.1 passer rating took a hit last week, but still is top 10 in the nation.

What separates Williams from Stroud is his rushing ability. The quarterback has only scampered for 100 yards and two touchdowns, but expect those numbers to increase as the season goes on.

Williams ran for 347 yards and five touchdowns in seven starts last year.

Riley has surrounded the young quarterback with elite talent, and if you want to bet based on a coaching system, this would be it — two different quarterbacks have won the Heisman trophy under Riley in the last five years.

Player to watch: Hendon Hooker (+1,400)

Hooker led the Tennessee Volunteers to their first win over rival Florida Gators since 2016. To say he's changed the way people view the program would be an understatement.

The senior has thrown for 1,193 yards, with eight touchdowns and no turnovers. His 90.3 QBR is the third-best in the nation.

What we like most about Hooker is his clutch factor. He's thrown for a combined 647 yards and four touchdowns in Tennessee's two games versus ranked opponents while rushing for an additional 139 yards and a score.

If Hooker can keep winning big games, expect his odds to significantly shorten as he tries to bring the Volunteers into the national spotlight.

NorthStar Bets editorial Insiders have no influence, direct or otherwise, over the setting of odds advertised on our platforms.