2026 Heisman Trophy Odds: Who Is Favored for Next Year's Heisman After Fernando Mendoza Wins National Title?
The Heisman Trophy was locked up by Fernando Mendoza with some late season heroics, and now he'll head off to the NFL after winning the National Championship with Indiana. Who will take over as king of college football next year? Peter Alexis surveys the 2026 Heisman Trophy after Monday's exciting title game.
Peter Alexis - January 20, 2026, 3:30 AM EST
5 Minute Read2026 Heisman Trophy Odds: CJ Carr, Arch Manning Among Leaders in Early Heisman Odds following Fernando Mendoza's Title Run with Indiana
The 2026 Heisman race begins with a massive spotlight shift after Fernando Mendoza completed one of the most remarkable seasons in recent college football history. The Indiana quarterback delivered a perfect 16-0 campaign and capped it with a 27-21 national championship win over Miami. A few weeks earlier he had already secured the Heisman Trophy, becoming the eighth player in the last 25 years to win the award and then immediately win the national title. That list includes Joe Burrow, DeVonta Smith, and Jameis Winston.
Mendoza’s rise was unexpected. He was not listed on any preseason Heisman odds boards and only emerged as a contender after transferring from Cal into Curt Cignetti’s system. His breakout year now sends him to the NFL as the projected number one pick to the Raiders, leaving the 2026 Heisman field wide open. With no returning finalist and no obvious favorite, the race begins with a mix of rising sophomores, high profile transfers, and returning stars.
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Heisman Trophy Odds
Heisman Trophy Odds Breakdown
CJ Carr (+800) Check out the best odds on FanDuel Sportsbook
Carr opens as the slight favorite after a strong freshman season that had Notre Dame on the edge of a playoff berth. The Irish were controversially left out of the field, and that frustration has only raised expectations for 2026.
Carr already shows veteran level command of the offense, and with a full offseason as the clear starter, he is positioned for a major leap. If Notre Dame pushes into the playoff, Carr will be at the center of the conversation.
Arch Manning (+850) Check out the best odds on FanDuel Sportsbook
Manning returns for his senior season looking to rebound from what many considered a disappointing junior year. He opened last season as the early Heisman favorite but Texas stumbled in the middle of the schedule and never recovered enough to reach the playoff.
The Longhorns finished strong, and that late momentum gives Manning a chance to reset. With elite arm talent and a deep roster, he remains one of the most dangerous quarterbacks in the country.
Josh Hoover (+1100) Check out the best odds on FanDuel Sportsbook
Hoover’s transfer from TCU to Indiana instantly makes him one of the most intriguing names on the board. He steps into the role vacated by Mendoza on a defending national champion roster that returns significant talent.
The system is proven and the supporting cast is strong. If Hoover keeps Indiana in the playoff hunt, he will naturally rise into the Heisman picture.
Jeremiah Smith (+1100) Check out the best odds on FanDuel Sportsbook
Smith is the only non quarterback among the top contenders and enters his junior year as one of the best receivers in the country. His size, speed, and route running make him a matchup nightmare, and he will be the focal point of Ohio State’s offense.
Wide receivers rarely win the Heisman, but Smith has the talent to force his way into the race if he posts dominant numbers.
Julian Sayin (+1100) Check out the best odds on FanDuel Sportsbook
Sayin spent much of last season battling Mendoza for the Heisman lead before Ohio State’s loss in the Big Ten Championship knocked him out of contention.
Now entering his second year as the starter, he has the experience and the weapons to make another run. If Ohio State rebounds from its early playoff exit, Sayin will be the driving force.
Dante Moore (+1100) Check out the best odds on FanDuel Sportsbook
Moore shocked the college football world by returning to Oregon instead of entering the NFL Draft, where he was widely expected to be the number two pick behind Mendoza. His semifinal meltdown against Indiana, which included multiple turnovers and a pick six on the first play, likely influenced the decision.
Now he gets one more year to rebuild his stock and chase the Heisman. With Oregon returning a strong roster, Moore has the tools to climb back into elite form.
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