The Texas Longhorns lead betting odds at +300 to win the College Football Playoff (CFP) National Championship as the quarterfinals begin. The tournament kicks off with the Vrbo Fiesta Bowl between No. 3 Boise State and No. 6 Penn State at State Farm Stadium in Phoenix.

The eight remaining teams include No. 1 Oregon, No. 2 Georgia, No. 4 Arizona State, No. 5 Texas, No. 7 Notre Dame, and No. 8 Ohio State.

Texas (12-2) is favored by 12.5 points against Arizona State in the Peach Bowl. BetMGM reports 10% of tickets and 13% of money are on Texas to win the championship, while Ohio State leads with 13% of tickets and 16% of money at +350 odds.

Current Championship Odds:

• Texas: +300
• Ohio State: +350
• Oregon: +450
• Georgia/Penn State: +525
• Notre Dame: +650
• Arizona State/Boise State: +6600

Quarterfinal Matchups:

• Penn State (-11) vs. Boise State (Fiesta Bowl)
• Texas (-12.5) vs. Arizona State (Peach Bowl)
• Ohio State (-2.5) vs. Oregon (Rose Bowl)
• Georgia (-1.5) vs. Notre Dame (Sugar Bowl)

Key Storylines:

• Boise State RB Ashton Jeanty (Heisman runner-up) faces tough Penn State defense
• Georgia starts backup QB Gunner Stockton due to Carson Beck's injury
• Ohio State seeks revenge against Oregon after October loss
• Texas benefits from potentially easier path to semifinals

Betting trends show strong support for Penn State (62% of money), Ohio State (66%), and Georgia (61%) in their respective matchups. The tournament structure may change next year to give byes to the top four overall teams rather than conference champions.

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