Each week this college football season, For The Win will take a look at the 2026 Heisman Trophy race and break down the contenders. Check back every Tuesday as the best college football players in the country jockey for position with both oddsmakers and bettors. All odds via BetMGM.
It's hard to believe it, but we're already a third of the way through the 2026 college football season.
With four weeks now in the rearview, things are beginning to crystallize. We're separating the contenders from the pretenders, and while that's true for the College Football Playoff race, it's also true for the battle to win the sport's most prestigious award: the Heisman Trophy.
Miami quarterback Darian Mensah had asserted a comfortable lead through much of the early
season, but with Week 5 upon us, we now have a new favorite. Here's how things stand in the Heisman odds this week, per BetMGM.
14. Sam Leavitt (+6000)
Odds Last Week (Opening Odds)
- Leavitt +6000 (+2500)
Leavitt had a nice bounce-back in LSU's blowout win over Texas A&M, though his odds remain static. He completed 17 of 23 passes for 312 yards and two touchdowns, though he did toss his sixth interception of the season. While battling a leg injury, he was a bit limited on the ground and totaled just 22 rushing yards.
T12. Josh Hoover, Drew Mestemaker (+5000)
Odds Last Week (Opening Odds)
- Hoover +3500 (+1600)
- Mestemaker +6600 (+6600)
Hoover had his least efficient game of the season as Northwestern gave Indiana all it could handle. He completed 19 of 29 passes for just 201 yards, though he did throw a touchdown and is yet to throw a pick after tossing 24 in the last two seasons. Mestemaker, meanwhile, saw his odds go up after a big performance in a win over West Virginia, throwing for 389 yards and three touchdowns.
11. Gunner Stockton (+4000)
Odds Last Week (Opening Odds)
- Stockton +4000 (+2500)
Georgia rolled over Oklahoma on Saturday, though Stockton did have some struggles against his toughest defensive test so far. He completed just 56% of his passes and threw for 171 yards and a touchdown while tossing his first interception of the season.
T9. Julian Sayin, Arch Manning (+3000)
Odds Last Week (Opening Odds)
- Sayin +3000 (+1400)
- Manning +1000 (+850)
Sayin is staying put despite throwing for 367 yards and four touchdowns, though the same cannot be said for the wideout who caught all four of his touchdown passes. Manning's odds continue to drop after throwing for just 201 yards and a pick in a defense-led narrow win over Tennessee.
8. Malachi Toney (+2500)
Odds Last Week (Opening Odds)
- Toney +1000 (+4000)
Toney's odds continue to hold despite another huge game. He caught just six passes against Central Michigan, his second-lowest total of the season, but he still went for 120 yards with a touchdown. He has found the end zone in all four games so far.
7. Keelon Russell (+1300)
Odds Last Week (Opening Odds)
- Russell +2500 (+2500)
The first-year starter seems to improve with every game, and he had his best game of the season in a blowout win over South Carolina. He threw for 365 yards and four touchdowns while running for another, and he's moving up the leaderboard as a result.
T4. CJ Carr, Trinidad Chambliss, Jadan Baugh (+1200)
Odds Last Week (Opening Odds)
- Carr +1400 (+700)
- Chambliss +325 (+1600)
- Baugh +1200 (N/A)
Carr's odds haven't changed in a few weeks, and he held serve in Week 4 while throwing for 237 yards and three touchdowns in a dominant win over Purdue. Chambliss was the co-leader last week, but his odds took a hit after Ole Miss suffered its first loss of the season at Florida. Chambliss threw for 298 yards and scored three total touchdowns, but he also tossed an interception and lost a fumble. Baugh, meanwhile, continues to be one of the most surprising contenders and has asserted himself as perhaps the top running back in the country. He ran for 142 yards and three more touchdowns against Ole Miss, and he now ranks second nationally in rushing yards (600) and first in rushing touchdowns (11).
3. Kamario Taylor (+700)
Odds Last Week (Opening Odds)
- Taylor +1000 (+15000)
Another preseason longshot who now finds himself squarely in the mix, Taylor entered the top three this week after throwing for 360 yards and three touchdowns in a ranked win over Missouri.
2. Darian Mensah (+400)
Odds Last Week (Opening Odds)
- Mensah +450 (+1100)
Mensah no longer stands atop the leaderboard, but it has nothing to do with what he's done on the field. He had another hyper-efficient performance against Central Michigan, completing 23 of 27 passes for 338 yards and three touchdowns while also rushing for a score. Mensah has completed a stunning 88.7% of his passes this season with 14 touchdowns and no interceptions through the air.
1. Jeremiah Smith (+250)
Odds Last Week (Opening Odds)
- Smith +1000 (+1600)
Smith has hung around near the top of this list all season, and now he leads the way after going for four more touchdowns on 217 yards in the win over Illinois. Smith leads the nation with 617 receiving yards, and his seven receiving touchdowns also tie for first in the FBS.
This article originally appeared on For The Win: 2026 Heisman Trophy odds tracker, Week 5: Non-QB surges to top of the board
Advertiser disclosure: USA TODAY may earn a commission when you sign up through links on this page. Commissions never influence our editorial coverage or rankings. Offers and odds were accurate at publication and are subject to change; terms apply — see the operator’s site. This is general information, not betting, legal or financial advice. To the fullest extent permitted by law, USA TODAY is not liable for losses arising from your use of it.
Must be 21+ (18+ where permitted). Sports betting and casino gaming are not legal everywhere; complying with the laws where you are located is your responsibility. Gamble only with funds you can afford to lose. Gambling problem? Help is available 24/7 — call or text 1-800-GAMBLER, or call the National Problem Gambling Helpline at 1-800-MY-RESET. State helplines and responsible gaming resources.
