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College Football Playoff best bets: Two underdogs and two favorites to consider

Jeremiyah Love and the Notre Dame Fighting Irish are 7.5-point favorites over the Indiana Hoosiers in an inter-state battle on Friday night. Photo by David Jensen/Getty Images

The first round of the 2024 College Football Playoff is here, and the matchups are brimming with betting value. With powerhouse programs and underdog contenders squaring off, this introduction into the 12-team format could bring drama from start to finish.

Notre Dame takes on Indiana in a clash of grit versus explosiveness, while SMU faces Penn State in a David-and-Goliath battle where speed meets strength. Clemson looks to defy the odds against Texas, a program riding high on a mostly dominant season, and Ohio State seeks redemption against Tennessee after falling short in its rivalry showdown with Michigan.

As the stakes rise, each game presents unique opportunities to evaluate talent, analyze matchups and make sharp predictions. Let's dive into the action and uncover where the value lies in these marquee CFP showdowns.

While I typically love betting totals, the first round of the playoffs has me leaning toward spreads instead, as predicting an over or under in these high-stakes matchups feels like it comes with more variance.

Here are all the odds and lines for the College Football Playoff matchups ahead of the first round.

All odds are accurate as of time stamp. All times Eastern. For the latest odds go to ESPN BET.