Heisman Trophy watch: Updated odds, top candidates to win 2023 award

The 2023 college football season is coming to a close.

With just a few games left on the schedule for most teams, both the College Football Playoff picture and the Heisman Trophy race are beginning to solidify.

It's a tight race between Michael Penix Jr. (Washington), Bo Nix (Oregon) and Jayden Daniels (LSU) especially right now, but a lot can change in three weeks. Is it possible that Nix is the one who ultimately takes home the highest honor?

MORE: College football QB rankings after Week 10: Is Oregon's Bo Nix the best?

Here's a look into where things stand with the Heisman heading into Week 11:

Heisman Trophy odds 2023

Here are the current Heisman Trophy odds according to BetMGM.com. Michael Penix Jr. has the best odds at +150.

A total of seven players have Heisman odds of +2000 or better:

It's clearly a tight race as the odds would imply -- Nix and Penix are neck-and-neck with Daniels not far behind. For now, the true favorite remains Penix. And if he's able to sustain the upswing that he's been on practically all year with very few speedbumps, it's easy to see a scenario in which he could be hoisting the trophy if Nix isn't. 

Caleb Williams was the early favorite with the chance to become just the second two-time Heisman winner in history, but at +5000, the odds of that happening have slimmed immensely.

Top Heisman Trophy candidates 2023

Here is a closer look at the top eight candidates in the Heisman Trophy race for 2023. Washington's Michael Penix Jr. remains the front-runner, but he has some other contenders nipping at his heels: 

Michael Penix Jr., QB, Washington

2023 stats: 3,201 passing yards, 69.4%, 26 TD, 7 INT

It was just last season that Penix was ranked among the most lowly quarterbacks in the Big Ten while battling the injury bug at Indiana. That's not the case anymore, and it would be nothing short of shocking for him to end up as anything other than a first-round draft pick in 2024.

He has stayed healthy since transferring to Washington and has shown significant improvement mechanically and more since reuniting with Kalen DeBoer.

Bo Nix, QB, Oregon

2023 stats: 2,723 passing yards, 78.1%, 25 TD, 2 INT

Nix has made a strong case for himself as the most complete quarterback in the nation from both a tangibles and an intangibles perspective. He totaled some six touchdowns in the 63-19 win over Cal on Saturday.

Any resemblance he ever had to the Auburn version of himself is far in the past now.

Jayden Daniels, QB, LSU

2023 stats: 2,792 passing yards, 72.1%, 27 TD, 4 INT

It's almost hard not to feel bad for Daniels at this point. Where LSU has had its own shortcomings against stiff competition in 2023, the former Arizona State quarterback has kept the Tigers in it and given them a chance at victory regardless of the quality of opponent consistently each week.

It is becoming a little more of a longshot for Daniels to win the Heisman with the way some of the other candidates are performing, but that has more to do with LSU's overall success than it does him. Unfortunately, those things tend to cast a shadow.

J.J. McCarthy, QB, Michigan

2023 stats: 75.7%, 2,134 passing yards, 18 TD, 3 INT

Some of McCarthy's future in regard to making a run for the title and his final candidacy for the Heisman depend upon what the NCAA and/or Big Ten do about the intensifying sign-stealing investigation that will come to a head sooner rather than later.

McCarthy is an interesting prospect from a pure scouting perspective, with some putting the "game manager" label on him. But it's also important to keep in mind some of the more explosive throws and plays we've seen out of him at Michigan that imply he will be something more.

MORE: Latest updates on Michigan's sign-stealing scandal

Jordan Travis, QB, Florida State

2023 stats: 64.4%, 2,469 passing yards, 19 TD, 2 INT

The hype train was loud for Travis at the beginning of the season. He's still getting a respectable level of national attention as things begin to wrap up, but it's not quite to the level he actually deserves.

Travis has quietly continued to be one of the best quarterbacks in the nation as the Seminoles remain undefeated. He's also now the only active player in the country and the first in program history to total seven rushing touchdowns in four consecutive seasons.

Marvin Harrison Jr., WR, Ohio State

2023 stats: 52 receptions, 914 receiving yards, 10 TD

Harrison is the only non-quarterback to make the cut in this range of the odds, something that's not exactly surprising since the Heisman is so often an award won by a signal-caller. But he's earned his spot.

The Rutgers defense did a respectable job of containing Harrison in the Buckeyes' 35-16 win, but that didn't stop the receiver from being effective. He scored two touchdowns in the red zone that played an important role in the victory, bringing him to a total of 10 receiving touchdowns this season. That's good for second in the nation.

Carson Beck, QB, Georgia

2023 stats: 72.2%, 2,716 passing yards, 16 TD, 4 INT

One of the biggest questions surrounding Beck this season was whether he was a standout quarterback or just a cog in the machine within a talent-rich UGA team. He's done a solid job of managing the game -- both with and without standout tight end Brock Bowers -- while sometimes showing flashes of brilliance in his own right.

When is the Heisman Trophy ceremony?

The Heisman Trophy will be presented on Dec. 9, one week after the conference championship games. The ceremony will be televised with an hour-long program on ESPN. This year's finalists are set to be revealed on Dec. 4.

• Date: Saturday, Dec. 9
• Time: 8 p.m. ET | 5 p.m. PT
• TV channel: ESPN
• Live stream: ESPN+, Fubo

Heisman Trophy winners history

The Heisman Trophy was first awarded in 1935 to Jay Berwanger of the University of Chicago. 

Here are the winners for the last 10 years: