Georgia has gone undefeated since winning last season's College Football Playoff National Championship, but the Bulldogs are not favored to repeat. Despite being ranked No. 1 in the polls, Georgia is only given the second-best chance to win the title in the 2022-2023 season.

Who will win the college football championship? Ohio State has the best chance to do so, according to the latest betting odds and ESPN's prediction model.

Ohio State has +170 odds at FanDuel Sportsbook to win the CFP National Championship. The Buckeyes are favored ahead of Georgia, which enters Week 8 with +190 odds.

ESPN's playoff predictor also suggests that Ohio State is the best bet to win the title. The model gives the Buckeyes a 30% chance to win the championship. The Bulldogs are second with a 25% chance.

Georgia's odds are reflective of a difficult path to the national title game. Three of the Bulldogs' five remaining opponents are ranked, and that doesn't include a possible matchup with Alabama in the SEC Championship Game.

The SEC is even more loaded than it appeared to be at the start of the season. Four of the top-seven teams in the country come from college football's best conference. No. 3 Tennessee, No. 6 Alabama and No. 7 Ole Miss are all title contenders.

Alabama is third with +400 odds and a 19% chance to win the championship. The Crimson Tide, which lost to the Bulldogs in last year's national title game, was just upset by Tennessee in a 52-49 thriller.

Tennessee and Georgia are scheduled to meet on Nov. 5 in what could be the biggest matchup of the regular season. One week later, Alabama will visit Ole Miss, which has started the season 7-0.

Ohio State, ranked No. 2 in the polls, has two ranked opponents left on its schedule. The Buckeyes will visit No. 16 Penn State on Oct. 29. Ohio State hosts No. 4 Michigan on Nov. 26 in a contest that will likely determine one half of the Big Ten Championship Game.

C.J. Stroud is favored to win the 2022 Heisman Trophy. The Buckeyes quarterback has completed 70.6% of his passes for 1,737 yards, 24 touchdowns and three interceptions. Ohio State has won every game by more than 10 points and five straight games by more than 30 points.

Michigan has a 9% chance to win the championship, followed by Tennessee at 7%, according to the playoff predictor. Those numbers are in conflict with the betting odds, which put No. 5 Clemson fourth with +1200 championship odds. If Clemson can hold off No. 14 Syracuse Saturday, it could cruise to an ACC title.

Michigan has +1600 championship odds, followed by Tennessee at +2000.

C.J. Stroud Ohio State Football
C.J. Stroud #7 of the Ohio State Buckeyes throws a first half pass while playing the Michigan State Spartansat Spartan Stadium on October 08, 2022 in East Lansing, Michigan. Gregory Shamus/Getty Images