Heisman 2023 Odds: Tips on the Favorites and Best Values for Week 11

The 2023 Heisman Trophy race could come down to the Pac-12 Championship Game.

Michael Penix Jr.'s Washington Huskies and Bo Nix's Oregon Ducks are the two sides expected to meet in Las Vegas on the first Friday in December.

Penix and Nix enter Week 11 as the two favorites to win the Heisman Trophy. Nix jumped over Michigan Wolverines quarterback J.J. McCarthy after his Week 10 performance.

At minimum, Penix and Nix should be locked in as finalists for the most prestigious individual award in college football.

McCarthy and others will have chances to solidify their spots in the top four in the coming weeks, but they may need both of the Pac-12 quarterbacks to slip up to win the award.

Updated Heisman Odds

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EUGENE, OR - NOVEMBER 04: Oregon Ducks quarterback Bo Nix (10) throws the ball during a college football game between the California Golden Bears and Oregon Ducks on November 4, 2023, at Autzen Stadium in Eugene, Oregon.(Photo by Brian Murphy/Icon Sportswire via Getty Images)

For the latest Heisman odds, go to DraftKings.

Michael Penix Jr. (+140; bet $100 to win $140)

Bo Nix (+210)

J.J. McCarthy (+650)

Jordan Travis (+850)

Carson Beck (+1200)

Marvin Harrison Jr. (+1800)

Ollie Gordon II (+4000)

Jalen Milroe (+5000)

Caleb Williams (+9000)

Favorites

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LOS ANGELES, CA - NOVEMBER 04: Washington Huskies quarterback Michael Penix Jr. (9) escapes the rush from USC Trojans rush end Solomon Byrd (51) during a college football game between the Washington Huskies and the USC Trojans on November 4, 2023, at Los Angeles Memorial Coliseum in Los Angeles, CA. (Photo by Brian Rothmuller/Icon Sportswire via Getty Images)

Penix took full advantage of the weak USC Trojans defense to reinforce his Heisman favorite status.

Penix has been first or second on the Heisman odds board since Washington defeated Oregon in one of the best games of the season.

The Washington left-hander is the only FBS quarterback to have more than 3,000 passing yards through Week 10.

The senior completed 73.3 percent of his passes and threw for 256 yards and two touchdowns in the national spotlight against USC on Saturday.

Penix has been over 250 passing yards in every game this season and he has seven multi-score games through the air.

Nix vaulted into second place on the odds board behind a pair of season highs against the California Golden Bears.

The Oregon signal-caller did what he was expected to do against a struggling team and then some. He had 386 passing yards and four touchdowns.

Nix can further pad his stats against the USC defense in Week 11. He might be able to gain slight edge over Penix if the Washington offense struggles at home against the Utah Utes.

However, if Penix thrives against Utah, he should be rewarded more by the oddsmakers because he has a tougher Week 11 matchup.

Best Values

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MADISON, WI - OCTOBER 28: Ohio State Buckeyes wide receiver Marvin Harrison Jr. (18) catches a touchdown pass durning a college football game between the Ohio State Buckeyes and the Wisconsin Badgers on October 28th, 2023 at Barry Alvarez field at Camp Randall Stadium in Madison, WI. (Photo by Dan Sanger/Icon Sportswire via Getty Images)

There seems to be four realistic candidates to join Penix and Nix as Heisman finalists.

Marvin Harrison Jr. holds the longest odds of that quartet at +1800. He is the only non-quarterback with a chance to win the 2023 Heisman.

The Ohio State Buckeyes wide receiver turned in his second straight two-score game in Week 10 despite only catching four balls for 25 yards against the Rutgers Scarlet Knights.

Harrison needs to do some stat padding against the Michigan State Spartans and Minnesota Golden Gophers over the next two weeks to be in position to surge up the Heisman odds board with a massive performance against the Michigan Wolverines.

Harrison, McCarthy, Carson Beck and Jordan Travis need Washington and Oregon to both lose before the Pac-12 Championship Game to make a run at the Heisman.

McCarthy plays in the biggest game of that group in Week 11 against the Penn State Nittany Lions.

The Michigan quarterback fluctuated between spots in the top three on the odds board over the last few weeks. If he plays well on Saturday, he may not be available at +650 to win the Heisman for the rest of the season.

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Odds and lines subject to change. 21+ (18+ NH/WY). AZ/CO/CT/IL/IN/IA/LA/MI/NH/NJ/NY/OR/PA/TN/VA/WV/WY only. Eligibility restrictions apply. See draftkings.com/sportsbook for full terms and conditions.