Joel Klatt's favorite value bets for the 2024 college football season

Week 1 of the 2024 college football season is almost here.

I've already previewed the upcoming year in a variety of ways, such as revealing my preseason top 25, expectations for certain programs and my prediction for the 12-team College Football Playoff. I wanted to take a stab at another angle before the season begins by looking at the best value future bets for the season.

Truth be told, I have never bet a dime on sports in my life, and I'd like to keep it that way. So, I'm not telling you that you should make these wagers and I advise you to be careful with all of this. 

There were some future odds though that stood out to me recently that I thought were noteworthy. So, here are some of my favorite futures bets for the 2024 season. 

Alabama to win the national championship (+1400)

The favorites are the favorites. Those teams are good bets to win the title.

But Alabama is +1400. When I saw that price, I thought, "Wait a second, didn't Kalen DeBoer just coach a team to the national championship game?" He's also had success with any quarterback who's played for him going back to his days at Sioux Falls, and that includes dual-threat quarterbacks. So, the style issue, if there is one with Jalen Milroe compared to Michael Penix Jr., won't phase Alabama, and certainly not DeBoer. 

Alabama's roster is also as talented as any in the country. It's ranked No. 1 in the recruiting talent composite by 247 Sports and second to Ohio State in blue-chip ratio. 

Most importantly, Alabama has actually done it. To hit on a long shot, you can certainly find a talented team with long odds, but how many teams have actually done it? A lot of the time, teams have to be knocking on the door and get their nose close to the finish line before winning the race. That's not the case with Alabama, who has done it and expects to do it. 

So, when I look at Alabama, it's a team that has an excellent coach with an incumbent quarterback that I think can have success. It also doesn't fear the other contenders in that building, so those are good odds, at least to me. 

Oklahoma State (+850) and Kansas (+1000) to win the Big 12

Initially, I looked at Oklahoma State and Kansas' odds to make the College Football Playoff. I believe both teams were listed at +700 to make the 12-team field.

I liked those odds for each team. However, I think - and expect - that only one team from the Big 12 will make the College Football Playoff. If that's the case, what I should actually bet on is for Oklahoma State and Kansas to win the Big 12, which are longer odds for each school. 

So, sign me up for that! I, particularly, like Oklahoma State's odds to win the conference. The Cowboys brought back 18 starters from a team that won 10 games and reached the conference title game in 2023. The team that beat Oklahoma State in the Big 12 title game is no longer in the conference. Ollie Gordon II, the reigning Doak Walker Award winner, is back. Oklahoma State has a little ripple in the schedule with back-to-back games against Utah and at Kansas State in Weeks 4 and 5. If the Cowboys get through that, they will be set up to have a deep run. 

Similar to Oklahoma State, Kansas also has a veteran-laden roster with an advantageous schedule. In fact, I think the Jayhawks have the most advantageous schedule in the Big 12. Kansas has a really clear and clean path to the Big 12 Championship Game, and once you get there, you're only 60 minutes away from the CFP. I know Kansas lost offensive coordinator Andy Kotelnicki to Penn State in the offseason, but it brought in former Baylor offensive coordinator Jeff Grimes. I think he's a really good coach. It didn't go well in the last couple of years at Baylor, but I'm a big fan of Grimes. 

When Jalon Daniels is healthy, Kansas is a premier team in the conference. He's missed 14 games over the last two seasons, making that a big "if." But if he remains healthy, it's likely Kansas will be in the conference title game. Kansas doesn't have to play Utah, Oklahoma State or Arizona, who are among the heavyweights in the conference. 

Oklahoma QB Jackson Arnold to win the Heisman (+3000)

When I looked at possible Heisman long shots, I had the thought of, "I can actually see this happening."

Arnold is among the few long shots I came up with. We know that Oklahoma has a pedigree of Heisman Trophy wins, so it's not a program that voters will be apprehensive about voting for. 

Secondly, Oklahoma has a brutal schedule that provides a platform for Arnold. If the Sooners navigate that schedule well enough, Arnold will be elevated in the Heisman discussion.

Oklahoma's offense is also better suited for Arnold than it was for Dillon Gabriel. It has Nic Anderson, Jalil Farooq and Andrel Anthony on the outside. The Sooners added Deon Burks in the slot. I know they lost Jayden Gibson for the season during fall camp, but they still have depth at wide receiver. 

So, with the ability to throw the ball down the field with Arnold's stronger arm could allow him to have a huge season with those receivers. If Oklahoma can somehow navigate that difficult schedule, I really like these odds for Arnold.

Colorado WR/CB Travis Hunter (+6000)

I absolutely love this one because it won't take much for Hunter to be in the conversation or even become the favorite. He's the best non-quarterback in the sport who also happens to have a Shohei Ohtani-like factor, even more so than Charles Woodson and some of the other two-way players to have won the Heisman. He's even more of a two-way player than Woodson was when he won the Heisman in 1997. 

Hunter can easily be considered one of the best receivers and corners in the game, if not the best at each position. He averaged 115 snaps per game last year, which was the best number in the sport. 

Obviously, Woodson playing for the eventual national champs helped him win the Heisman in 1997. But if Colorado can protect Shedeur Sanders with a lighter schedule than it had last season, it can get to eight or nine wins. If Hunter is playing 115–120 snaps per game while also producing as one of the best receivers and corners in the nation on top of that, he'll be right in the mix. 

Michigan RB Donovan Edwards (+10000)

Edwards is going to be the workhorse for a team that relies on the run game. Blake Corum was a Heisman candidate the last two seasons, playing a similar role for Michigan. 

You don't think Sherrone Moore will run this offense through the running back? I know Kalel Mullings is still there. I know that Alex Orji might be Michigan's quarterback. But Edwards will be the workhorse. He'll get the bulk of the carries because he's Michigan's most talented option. He's also a better receiver out of the backfield than Corum ever was in Ann Arbor. So, he's a dual-threat back that can play every down with home-run-play potential.

When you consider those things, there's a chance that Edwards will inch close to 2,000 yards. If Michigan can get one of those giant wins against Texas, Oregon or Ohio State, Edwards will be sitting in New York if he has that production. That's not a stretch to think about. 

Joel Klatt is FOX Sports' lead college football game analyst and the host of the podcast "The Joel Klatt Show." Follow him on X/Twitter at @joelklatt and subscribe to the "Joel Klatt Show" on YouTube.

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