Heisman 2023 Odds: Tips on the Favorites and Best Values for Week 6

The 2023 Heisman Trophy is Caleb Williams' award to lose.

That is not exactly breaking news, but it was confirmed after the USC Trojans quarterback put up a monster stat line against the Colorado Buffaloes on Saturday.

Williams surged in front of Washington Huskies quarterback Michael Penix Jr. on the Heisman Trophy odds board after his six-touchdown performance through the air.

The next big development in the Heisman race will come from the Red River Rivalry. Quinn Ewers is currently the third favorite behind Williams and Penix. The Texas Longhorns quarterback can solidify his case as a finalist, while Oklahoma Sooners quarterback Dillon Gabriel could receive a massive boost to his contention with a victory.

Updated Heisman Trophy Odds

Dustin Bradford/Getty Images

BOULDER, CO - SEPTEMBER 30: Caleb Williams #13 of the USC Trojans looks to pass against the Colorado Buffaloes in the third quarter at Folsom Field on September 30, 2023 in Boulder, Colorado. (Photo by Dustin Bradford/Getty Images)

For the latest Heisman odds, go to DraftKings.

Caleb Williams (+180; bet $100 to win $180)

Michael Penix Jr. (+380)

Quinn Ewers (+900)

Bo Nix (+900)

Jordan Travis (+1500)

Dillon Gabriel (+2000)

Jayden Daniels (+2500)

J.J. McCarthy (+3000)

Sam Hartman (+3000)

Kyle McCord (+3000)

Tyler Van Dyke (+3500)

Cameron Ward (+4000)

Drake Maye (+4000)

Favorites

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TUCSON, ARIZONA - SEPTEMBER 30: Quarterback Michael Penix Jr. #9 of the Washington Huskies warms up before the NCAAF game against the Arizona Wildcats at Arizona Stadium on September 30, 2023 in Tucson, Arizona. (Photo by Christian Petersen/Getty Images)

Williams produced the high numbers everyone expected him to put up against Colorado.

The reigning Heisman winner turned in season highs of 403 passing yards and six touchdown throws in the 48-41 victory.

Williams' big Saturday boosted him from a co-favorite alongside Penix on the Heisman odds board to the clear favorite.

The USC quarterback finished September with 1,601 passing yards, 21 touchdowns and just a single interception.

Williams should have a less stressful Week 6 against the Arizona Wildcats before he faces the Notre Dame Fighting Irish in Week 7 and then the Utah Utes in Week 8.

Williams also has to play Washington and Oregon in November, so he will have ample opportunities to confirm his favorite status.

Penix authored his fifth straight 300-yard performance through the air in Week 5. He did not throw a touchdown in the win over Arizona, but he moved one yard short of the 2,000-yard mark for the season.

Penix and the Huskies have a week off before they play the biggest game of their season to date against Oregon on October 14.

Just like Williams, Penix will have plenty of chances to impress voters in November, as he has four matchups with ranked foes ahead in November.

Best Values

David Stacy/Icon Sportswire via Getty Images

NORMAN, OK - SEPTEMBER 30: Oklahoma Sooners QB Dillon Gabriel (08) running the ball during a game between the Oklahoma Sooners and the Iowa State Cyclones at Gaylord Memorial Stadium in Norman, Oklahoma on September 30, 2023. (Photo by David Stacy/Icon Sportswire via Getty Images)

The Red River Rivalry is the biggest game in the national focus on Saturday.

Gabriel has the best chance to improve his Heisman stock in the contest against Ewers, the current third favorite to win the award.

Oklahoma's left-handed quarterback had five total touchdowns in a 50-point outburst against the Iowa State Cyclones.

Gabriel has four multi-score performances through the air this season, and he needs another one of those games to beat Ewers and Texas.

If Gabriel leads the Sooners to a victory, he should drop down from his current +2000 price. He would likely be listed beneath Williams, Penix and Oregon's Bo Nix if that occurs.

Washington State Cougars quarterback Cameron Ward is the other long shot to watch for value in Week 6.

Washington State visits the UCLA Bruins in a game that is crucial to the Cougars' Pac-12 title aspirations.

Ward led the Cougars to two key home wins over the Wisconsin Badgers and Oregon State Beavers, and if he picks up a road win in Pac-12 play, his odds should drop a bit going into Week 7.

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