Heisman Trophy 2023 Odds: Caleb Williams Becomes Favorite After USC Beats Colorado

History isn't on Caleb Williams' side, but the odds are as the USC star attempts to reclaim the Heisman Trophy.

Williams is now +200 at DraftKings Sportsbook to lift the trophy, further cementing his status as the early favorite. Washington quarterback Michael Penix Jr. (+400) is the only contender whose close to Williams at the moment, while Oregon quarterback Bo Nix and Texas quarterback Quinn Ewers (+1000) are tied for third.

Williams' candidacy got a boost from the Trojans' 48-41 victory over Colorado on Saturday. Their starting signal-caller went 30-of-40 for 403 yards, six touchdowns and one interception.

One problem for past Heisman winners attempting a repeat bid is that they set the bar so high in the season when they received the honor. Not only did those players need to be just as good the following year, they basically needed to be better.

Lamar Jackson's production from 2016 to 2017 wasn't all that different, yet he went from first to third in the Heisman voting. Bryce Young didn't even finish in the top five in 2022 despite doing nearly as much with a worse supporting cast than he had in 2021.

Williams might prove to be an exception. Through five games, he has thrown for 1,603 yards along with 21 touchdowns to one interception, and the junior is completing 74.5 percent of his passes.

The meat of USC's schedule is still ahead. The Trojans host Arizona next week and then get No. 11 Notre Dame, No. 10 Utah, No. 7 Washington and No. 9 Oregon over a five-game span.

Willams will probably cool off a bit as the level of competition increases, but maintaining his present efficiency will almost certainly give him a landslide win in December.