Alabama remains the favorite to repeat its title in 2016, but Michigan has made a big jump in the latest set of national championship odds to sit just behind the Crimson Tide.
Nick Saban's team currently sit as the 5-1 favorite after opening as 6-1 shortly after their College Football Playoff win over Clemson. The Wolverines jumped from 15-1 all the way to 7-1 to come in slightly ahead of the Tigers, Ohio State, and Florida State. Michigan hasn't won the Big Ten since 2004, but look poised to turn things around under Jim Harbaugh.
| School | Opening Odds | Current Odds |
|---|---|---|
| Alabama | 6-1 | 5-1 |
| Michigan | 15-1 | 7-1 |
| Clemson | 7-1 | 8-1 |
| Ohio State | 10-1 | 8-1 |
| Florida State | 15-1 | 8-1 |
| Oklahoma | 7-1 | 10-1 |
| Tennessee | 15-1 | 12-1 |
| LSU | 15-1 | 12-1 |
| Notre Dame | 15-1 | 20-1 |
| TCU | 30-1 | 25-1 |
| Washington | 40-1 | 25-1 |
| USC | 60-1 | 25-1 |
*Odds via Westgate Las Vegas Superbook
USC saw the biggest move, coming in at 25-1 after opening in January at 60-1, while Baylor's decision to terminate Art Briles has seen the Bears odds go from 12-1 all the way to 40-1.