2026 Heisman Trophy Odds: Jeremiah Smith Remains Heavy Favorite

Indiana's Fernando Mendoza's 2025 season could not have been more perfect. 

He led his Hoosiers to an unblemished 16-0 season, captured the national championship in historic fashion and won the 2025 Heisman before being selected first in the 2026 NFL Draft by the Raiders.

Now that the path is clear for someone new to leave NYC in December holding the Heisman, who will it be?

Miami teammates Darian Mensah and Malachi Toney made their mark early this season, while Trinidad Chambliss surged after a historic performance against his former coach, Lane Kiffin, and LSU.

Since then Jeremiah Smith has stolen the show. After another record-breaking performance, the Ohio State wide receiver strengthened his case to become the first pass-catcher since DeVonta Smith to win the award.

Let's check out the latest Heisman trophy odds at FanDuel Sportsbook as of Oct. 17.  

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Jeremiah Smith: -125 
Darian Mensah: +280
Trinidad Chambliss: +700
CJ Carr: +1300 
Jesse Legree: +1700
Bear Bachmeier +2500

Here's what to know about the 2026 Heisman oddsboard:

Might as well give Jeremiah Smith the Heisman trophy. And he knows it as he's struck the Heisman pose on multiple occasions throughout a historic 2026 season.

On Saturday, in Ohio State's win over Indiana, Smith caught four passes for 68 yards and a touchdown. He's now tied with Braylon Edwards for the Big Ten career receiving touchdowns record (39).

He also set the record for most catches by any Ohio State wide receiver with 211 and counting, and the most yards by an Ohio State wide receiver with 3,524 and counting. 

Earlier in the season, he torched Illinois for four touchdowns in one game, becoming the fifth Ohio State wide receiver to do so. 

He's up to 984 yards and 12 touchdowns on the season, and is now the Buckeyes all-time receiving leader in receptions, yards and touchdowns. 

Smith remained the -125 favorite to win the Heisman.

For the first time in the 2026 season, Miami and Darian Mensah faced true adversity on multiple occasions. 

On Saturday, the Hurricanes trailed Florida State 28-21 with six minutes remaining. Mensah led them on a game-tying drive to send it to overtime. Then in the extra period, he connected with Malachi Toney for a three-yard touchdown to lift Miami to a 43-35 win, and avoid a disastrous update. 

Mensah threw his first interception of the year, but still finished with 326 pass yards and three passing touchdowns. He and Josh Hoover are the only FBS players with 18+ passing scores and one or fewer interceptions.

Mensah remained in second place in the Heisman race with +350 odds. 

Chambliss delivered a Heisman-worthy performance in Week 3, leading Ole Miss past his former coach, Lane Kiffin, and LSU. But the following week, the fourth-ranked Rebels fell into a trap, losing 52-28 to No. 21 Florida. Chambliss still put up respectable numbers, throwing for 298 yards and accounting for three touchdowns, including two on the ground.

Chambliss and the Rebels have since rattled off dominant wins over Vanderbilt and No. 13 Missouri this Saturday. Chambliss finished with three passing touchdowns and a rushing touchdown against Missouri. He is tied with Alabama's Keelon Russell and Virginia Tech's Ethan Grunkemeyer for the most games this season with three-plus passing touchdowns and one-plus rushing touchdowns.

His odds improved to + 700 and he's in third place. 

No. 2 Notre Dame suffered its first loss of the season on Saturday, a 28-24 defeat to No. 8 BYU. 

CJ Carr still finished with 261 passing yards, but was 27-of-49 with no touchdowns in the loss. On the season, he has 16 passing touchdowns and one interception — one of just three FBS players to have 16+ passing scores and one or fewer interceptions (Darian Mensah, Josh Hoover).

With the Fighting Irish facing their toughest test yet, they stumbled, and Carr toppled down the Heisman oddsboards to fourth place at +1300 odds. 

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