Bowl Predictions 2012: Betting on the Championship Odds of the Top Contenders

Even though there are still three weeks left in the season, and a lot of football is still left to be played, that doesn’t mean we can’t start speculating about which teams will ultimately end up meeting in New Orleans for the BCS national championship game.

Right now, it looks like a six-horse race with LSU and Oklahoma State leading the way, and Alabama, Oregon, Oklahoma and Arkansas all a few paces behind.

The boys in Las Vegas have already started placing values and odds on the top contenders, and it looks like many sports books still think LSU and Alabama are the two teams to beat.

It makes you wonder if maybe we really are destined for a rematch of the “Game of the Century.”

Here’s a look at some early odds for the 2012 BCS national championship game, courtesy of Sportsbook.com (http://www.sportsbook.ag/livesports/indexmember.php?sportsname=football).

1. LSU Tigers

Odds: -140

LSU is the still the overwhelming favorite to take home the national championship, and with good reason.

The Tigers have dominated their competition this year, and they found a way to come out on top in the biggest game of the year against Alabama.

They still have a tough battle with No. 6 Arkansas on Thanksgiving weekend, and a potential matchup with either Georgia or South Carolina in the SEC championship game, but if Les Miles can get his team to keep playing like they did in the first 11 weeks of the season, the Tigers should have no problem making it to New Orleans.

You may not get a lot of bang for your buck by taking the consensus favorite, but if you have enough faith in Jordan Jefferson and Jarrett Lee, this defense is the kind of unit that will give you a good return on your investment.

2. Oklahoma State Cowboys

Odds: +450

Pressure is a word that has to be brought up when you’re talking about a team that has never been to a BCS bowl before, yet is now just two wins away from the national championship game.

Oklahoma State has one of the most explosive offenses in the country this year, led by the dangerous trio of QB Brandon Weeden, WR Justin Blackmon and RB Joseph Randle, but will we see the Cowboys tighten up down the stretch, now that they realize how close they are to making it to the big game?

They shouldn’t have much trouble with Iowa State on Friday, but the Bedlam game against Oklahoma is a different story.

The Pokes haven’t beaten their in-state rival since 2002, and if they go into that game undefeated, all of the pressure is going to be on them.

How will they deal with it?

3. Alabama Crimson Tide

Odds: +160

Even though Alabama couldn’t get the job done in the “Game of the Century” the Tide are still getting a lot of love from Las Vegas.

The talk of a potential rematch against LSU will excite some and turn others off, but it’s still a real possibility depending on how things shake out at the end of the season.

Even with a blemish on their record, Nick Saban’s squad still has a realistic shot to make it to New Orleans if they can get a break or two.

If Alabama finds a way to make it to the big game, they have the type of historically great defense that can stop any offense that steps on the field with the Tide, whether it's LSU's, Oklahoma State's, Oregon's or Oklahoma's.

4. Oregon Ducks

Odds: +1000

Oregon was the big winner of this week’s BCS standings after the Ducks steamrolled over Andrew Luck and Stanford last Saturday night.

Everyone wants to talk about an LSU-Alabama rematch in the championship game, but what about an LSU-Oregon rematch?

Right now, there may not be a team in the country that is playing better football than the Ducks.

Although they’ll need some help, if the Ducks beat USC this weekend and go on to run the table and win the Pac-12, Oregon may just find its way back into national championship game for the second year in a row.

And this time, the Ducks will be ready to win.

5. Oklahoma Sooners

Odds: +1000

Oklahoma may be without its best player, WR Ryan Broyles, but this team still has enough firepower to run the table, beat Oklahoma State and finish 11-1.

Sure, there’s no getting around the fact that the loss to Texas Tech looks terrible, but if the Sooners beat the No. 2 team in the country on the road, that’s going to impress the voters and the computers a whole lot.

Big Game Bob’s team isn’t out of the race just yet.

6. Arkansas Razorbacks

Odds: +1,600

Everyone’s talking about LSU and Alabama in the SEC West, but don’t forget about Arkansas just because the Razorbacks had a few lackluster showings on the road.

This Arkansas offense can be scary when it's clicking, and the Razorbacks have the type of weapons at wide receiver that could really put some pressure on the LSU defense when the two teams meet up on Thanksgiving weekend.

If the Razorbacks can somehow shock No. 1 LSU (Remember 2007?), have Alabama lose to Auburn, win the SEC championship game and finish 12-1, it would be hard to keep them out of the national title game.

Don’t count them out just yet.

7. Clemson Tigers

Odds: +3,000

Is there any way Clemson makes it into the national title game?

It's certainly not very likely, even if the Tigers run the table, finish 12-1 and win the ACC.

Still, at that price, you might as well throw a few bucks down on the boys in orange and hope for the dreaded doomsday scenario to wreak havoc on the standings.