It’s only Week 4 of the college football season, and the Heisman odds are already undergoing a facelift.
One major change happened at the very top.
Oklahoma’s John Mateer — the favorite after Week 4 — is off the board in the wake of the news that he’ll miss time after having surgery on his throwing hand.
Let’s dive into the odds at FanDuel Sportsbook as of Sept. 23, as well as what to know about each candidate.
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2025 Heisman Trophy odds
Fernando Mendoza, QB, Indiana, +650 (bet $10 to win $75 total)
What to know: After dropping a whopping 63 points on the ninth-ranked Illini, Mendoza has skyrocketed up the Heisman oddsboard, bolstered by a five-touchdown performance. He is just the second Indiana quarterback to throw five passing TDs against a top-10 opponent since 2000, joining Michael Penix Jr. in 2020 (vs. Ohio State).
Dante Moore, QB, Oregon: +1000 (bet $10 to win $110 total)
What to know: Moore might have the most consistent résumé of any quarterback in the country so far, having thrown for 962 yards and an 11-1 TD-INT ratio. If he hadn’t been pulled early in half of Oregon’s four games, his numbers would be even better.
Jeremiah Smith, WR, Ohio State: +1000 (bet $10 to win $110 total)
What to know: Smith has racked up 315 yards on 20 receptions with three touchdowns so far. In Ohio State’s Week 3 game against Ohio, he had 153 receiving yards.
Carson Beck, QB, Miami (FL): +1200 (bet $10 to win $130 total)
What to know: While Beck only finished with 160 passing yards and no touchdowns against the Gators, the veteran QB didn’t have to do much as Miami out-rushed Florida 184 to 80 behind 116 yards from running back Mark Fletcher Jr. The Hurricanes took down Florida by the score of 26-7.
Gunner Stockton, QB, Georgia: +1200 (bet $10 to win $130 total)
What to know: The Bulldogs were on a bye last week, but Stockton’s play against Tennessee did enough to keep him near the top of the board. On the road against a talented Volunteers team, he put up 304 passing yards with two passing TDs, 38 rushing yards and two rushing touchdowns.
Marcel Reed, QB, Texas A&M: +1400 (bet $10 to win $150 total)
What to know: The Aggies sophomore has been incredible for A&M this season so far. He’s helped lead his squad to a 3-0 record, and that includes a big 41-40 win over Notre Dame. Reed has 869 yards and nine TDs over the team’s three games.
Jayden Maiava, QB, USC: +1400 (bet $10 to win $150 total)
What to know: Could Troy be truly relevant again now that it has a QB in the Heisman conversation? Head coach Lincoln Riley probably hopes that’s the case. Over four games, the 6-foot-4 junior has passed for 1,223 yards and nine touchdowns.
Josh Hoover, QB, TCU: +1400 (bet $10 to win $150 total)
What to know: In a gutsy 11-point win, Hoover put up a whopping five passing TDs and 379 yards against an SMU team that made the CFP last season. He finished top 10 in FBS in both passing yards and passing TDs last season and has picked up right where he left off. Whether he makes it to New York will come down to how consistent he can be.
Joey Aguilar, QB, Tennessee: +1400 (bet $10 to win $150 total)
What to know: After a 317-yard performance with four passing TDs against one of the best defenses in the country in Georgia, Aguilar followed up that performance with 218 passing yards and three passing TDs in limited action vs. UAB. The Vols took down the Blazers 56-24, and Aguilar will continue to be a top candidate if he continues this play.
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