College Football Playoff: Early bettors are heavily backing Indiana to win the national championship game

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Bettors are nearly all-in on Indiana ahead of the College Football Playoff national championship game on Monday.

The No. 1 Hoosiers have moved from 7.5 to 8.5-point favorites over Miami since winning the Peach Bowl over Oregon. And that move is largely because of bettors flocking to Indiana.

Nearly 85% of bets and 87% of the total money bet on the spread is on Indiana to cover the number. The Hoosiers have outscored Alabama and Oregon by a combined score of 94-25 over their first two games of the College Football Playoff. Indiana beat Alabama 38-3 in the Rose Bowl and Oregon 56-22 on Friday night.

Indiana won just three of its 15 games by one score all season and is 10-5 against the spread. Just eight teams have a better record against the spread than the Hoosiers do.

Miami, meanwhile, is also 10-5 against the spread. The Hurricanes have covered in each of their last four games, including as 3-point favorites against Ole Miss in the Fiesta Bowl and as 7.5-point underdogs to Ohio State in the Cotton Bowl. That game was one of the biggest upsets of the College Football Playoff era.

Given the spread ahead of Monday night’s game, Miami could author two of the biggest CFP upsets if it knocks off the Hoosiers.

Indiana opened at -300 to win the game straight up and is now -350. Bettors are not dissuaded by the low odds, either. Even though 44% of bets are on Indiana to win straight up, they make up 74% of the money bet on the moneyline.

The total hasn’t budged as the money is spread fairly evenly. The over/under opened at 47.5 and has stayed there even though 86% of bets are on the over. Those bets make up just 51% of the money on the total.

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