Bovada Release College Football Playoff Odds

Jul 14, 2014; Irving, TX, USA; College football playoff executive director Bill Hancock with the new championship trophy during a press conference at the college football playoff headquarters. Mandatory Credit: Kevin Jairaj-USA TODAY Sports

Bovada have released the odds for the inaugural college football playoffs and the Florida State Seminoles are the tied favourites.

The Seminoles are 11/2 to win the national title this year, tied with the Alabama Crimson Tide.

Led by Jameis Winston, the Seminoles will look to defend their national title after an unbeaten season in 2013, which accumulated with a 34-31 win over the Auburn Tigers in the national title game.

The Florida Gators are 33/1, tied for 13th favourites along with South Carolina, Stanford and Wisconsin.

USF and UCF are unsurprisingly not considered favourites this upcoming season. Both teams are listed at 500/1 to win the national title.

For the first time, there will be a playoff system to decide the national title that will consist of four teams.

The title game will be played on January 12 at AT&T Stadium in Arlington, Texas.