2024 College Football Championship odds: Ohio State favored; Bama jumps up

With Week 5 in the books, there's a new favorite creeping to the top of the oddsboard to win the college football championship.

Ohio State is the lone favorite at +320, but Alabama has taken over second place, after its thrilling win over Georgia on Saturday. 

The two flip-flopped on the oddsboard, with the Bulldogs falling to fourth.

This season, the College Football Playoff will feature 12 teams instead of four. 

So with that in mind, let's dive into the championship odds at DraftKings Sportsbook as of Sept. 30.

CFP NATIONAL CHAMPIONSHIP ODDS: 

Ohio State Buckeyes: +320 (bet $10 to win $42 total)
Alabama Crimson Tide: +350 (bet $10 to win $45 total)
Texas Longhorns: +500 (bet $10 to win $60 total)
Georgia Bulldogs: +650 (bet $10 to win $75 total)
Oregon Ducks: +900 (bet $10 to win $100 total)
Tennessee Volunteers: +1000 (bet $10 to win $110 total)
Miami Hurricanes: +1800 (bet $10 to win $190 total)
Ole Miss Rebels: +2000 (bet $10 to win $210 total)
Penn State Nittany Lions: +2000 (bet $10 to win $210 total)

While Texas and OSU earned blowout conference wins, Week 5 was all about Georgia-Alabama.

And even though Bama led 28-0 in the first quarter and 30-7 at half, the Tide barely squeaked out a 41-34 win. 

In other words, these teams are more even than they appeared to be after 30 minutes, which explains the Bulldogs only dropping two spots on the title oddsboard.

One team that saw its odds drop was Ole Miss, which fell at home to Kentucky on Saturday, 20-17. 

With that, the Rebels' title odds moved from +1300 to +2000.

Follow along with FOX Sports for the latest college football news.