Penn State College Football Playoff Odds: What are PSU's Playoff Chances?

Latest Penn State CFP Odds

The table below provides a quick overview of PSU's College Football Playoff odds and other related futures markets for the 2024 season. The odds below have been pulled from bet365 PA Sportsbook and the percentage next to each set of odds represents the implied probability for each market.

When it comes to futures bets like the ones listed above, I always suggest checking multiple Pennsylvania sports betting apps before placing any wagers because odds in these markets tend to vary much more than other bet types. If you wanted to bet Penn State to win the Big 10, for example, Caesars Sportsbook currently has the best price at +550.

What are Penn State's Odds to Make the College Football Playoffs?

Penn State's CFP odds are -200 on most legal sportsbooks. Converted to an implied probability, this means the Lions have a 66.7% chance to make the playoffs this year. Looking specifically at Caesars Sportsbook PA, Penn State currently has the seventh-shortest playoff odds. Among the Big Ten, there are only two teams with shorter odds: Ohio State (-700) and Oregon (-325).

Will Penn State Make the Playoffs?

Heading into the 2024 college football season, Penn State is being viewed as a strong choice to make its first playoff. The newly expanded playoff format should certainly benefit the Nittany Lions who have finished in the top 12 in six of the last eight seasons.

As long as Penn State can avoid one of their signature losses against an inferior opponent, the Lions should keep themselves in the mix for the playoffs at the end of the season. As a Penn State alum, I'm ready to get my hopes up and get hurt again.

Penn State Football Playoff Scenarios

Now that the season has started, I'll keep this section updated on how Penn State can make the playoffs. In reality, it's pretty simple when it comes to college football: don't lose. As things currently stand, Penn State only has two games against ranked opponents all year.

Latest News Impacting Penn State Football Playoff Odds

Here are the latest pieces of news and updates that could impact the odds of Penn State making the College Football Playoffs.

• 🗓️ August 13: Penn State opens the season at No. 8 in the AP Top 25 Preseason Poll.
• 🗓️ August 1: The Lions will enter the season with the 15th-ranked recruiting class for 2024 according to 247 Composite Rankings. 
• 🗓️ May 2: Safety King Mack enters the transfer portal. Mack was slated to take on a larger role this year but was still likely behind Kevin Winston and Zakee Wheatley.
• 🗓️ April 26: Defensive lineman Davon Townley enters the transfer portal. Townley wasn't likely to claim a starting spot, but defensive line depth is not a strength for Penn State's roster.
• 🗓️ April 15: WR KeAndre Lambert-Smith enters the transfer portal. Lambert-Smith was the leading receiver last year and leaves a massive hole at one of Penn State's weakest position groups.
• 🗓️ January 3: Former 5-star wide receiver Julian Fleming transfers to Penn State from rival OSU. Fleming was the number 1 overall Pennsylvania recruit in the 2020 class.

Penn State Football Schedule 2024

Looking at Penn State football odds for Week 1, the Lions are favored by more than a touchdown for their road trip to take on WVU.

Penn State Football Outlook and Playoff Prediction

Much of Penn State's 2024 season will come down to what happens on offense. Can Penn State move the ball, put up points, and help keep the defense off the field? If new offensive coordinator Andy Kotelnicki can recreate what he had achieved at Kansas, the answer to the questions above will be a resounding yes. Whether that happens, however, remains to be seen. Penn State will now have its sixth different offensive coordinator in the James Franklin era, and there have been plenty of rumblings that Franklin meddles in the OC's plans too often. 

Beyond the change at offensive coordinator, Drew Allar will have to take the next step in his development without the luxury of a proven receiving room. Tight end Tyler Warren and wide receiver transfer Julian Fleming are likely to lead the pass catchers. The one area where there aren't any questions is running back. Nick Singleton and Kaytron Allen will lead the way in what is one of the most underrated RB duos in the entire country.

Defensively, there is another new face as Tom Allen will replace Manny Diaz who took the head coaching gig at Duke. Allen is no stranger to Penn State, as he joins the program after being the Indiana Hoosiers HC for seven years. Diaz led one of the most dominant defenses for the past two seasons, so as long as Allen isn't completely over his skis, Penn State should field one of the top defensive units once again.

Although there are certainly questions and unknowns surrounding Penn State, this should be a team that contends for a playoff spot. Heading into the season, the Nittany Lions have just two games against ranked opponents: at Wisconsin and against Ohio State at home. Assuming Penn State takes care of business and doesn't pick up a bad loss, the team should make their first College Football Playoff appearance this year.

Author

Cody Kutzer

@CKutzerFF

Cody Kutzer has been covering the sports betting and gambling space for several years and has been losing his parlay bets for even longer. He currently serves as an editor, writer, and fact-checker for PennStakes.com to ensure readers have the latest and most accurate information surrounding PA sports betting.