Caleb Williams Heisman Odds: 2023 USC QB Futures Odds

After claiming the prestigious college football award in 2022, USC quarterback Caleb Williams now has a chance to win the Heisman Trophy in back-to-back seasons. California sports betting is not yet legal, but here are the latest Caleb Williams Heisman odds according to sportsbooks in other states:

Latest Caleb Williams Heisman Odds

Heading into the 2023 college football season, Caleb Williams' Heisman odds are +400, giving him about a 20% chance to win the award in back-to-back seasons.

Here's a breakdown of some of the events that led to Caleb Williams winning the 2022 Heisman Trophy:

Caleb Williams in November

Although Caleb Williams spent most of the last two months behind CJ Stroud, Bryce Young and others in the Heisman rankings, he has recently stepped up his level of play. After big wins over UCLA and Arizona, where he threw for over 400 yards in each, Williams' Heisman buzz picked back up fast.

Williams threw for 470 yards and 2 touchdowns in win over UCLA, and the USC QB's Heisman odds quickly spiked. He followed that with another big game and win over long-time rival Notre Dame. Williams strong finish to the regular season, combined with Stroud's subpar performance and loss to Michigan, has seemingly secured the Heisman Trophy for the USC QB.

Caleb Williams in September and October

To close September, USC quarterback Caleb Williams struggled against Oregon State but, the good news for Williams is that when it mattered most, he delivered. Williams led the Trojans on a late touchdown march to stay undefeated and leave Corvallis with a 17-14 victory.

Against a struggling Arizona State team this week, Williams returned to form. He finished with 392 total yards and four total touchdowns in a 42-25 victory. Most of Williams’ damage came with his arm, but he did add 44 yards and a rushing score with his legs.

After struggling against Oregon State, Williams’ Heisman Trophy odds took a hit, but they are trending back in the right direction this week. Williams is currently listed at +500 after being listed at +600 last week. Last week, Williams was behind only Ohio State’s C.J. Stroud and Alabama’s Bryce Young as far as Heisman odds were concerned. Now, he’s behind only Stroud.

Williams’ odds aren’t as high as they were a couple weeks ago when they were listed at +300, but they have improved. They’re also better than they were in the preseason when Williams was listed at +700 by DraftKings Sportsbook.

USC got off to a 5-0 start and is ranked No. 6 in the country. Williams is a big reason why. With more than 1,400 yards passing through five games, Williams had accounted for 15 total touchdowns. His 85.8 QBR currently ranked in the top 10 nationally. 

In a win over Arizona State, Williams accounted for nearly 400 total yards and four touchdowns, but he was intercepted for the first time this season. Despite being in the top 10 nationally in QBR, Williams ranks just fourth in the Pac-12 in passer rating. His 8.8 yards per attempt average ranks second in the conference. 

Nationally, Williams ranks in the top 25 nationally in yards, touchdown passes and passer rating. One thing that Williams has working against him is that he plays on the West Coast and that tends to lead to late-night kickoffs, making it tough for East Coast voters to see him in action. USC also doesn’t play many marquee matchups, but that could be changing.

USC quarterback Caleb Williams is ineligible for the 2023 NFL Draft. Next year, however, Williams will likely be one of the top quarterback prospects for the 2024 NFL Draft. We will provide the latest 2024 Caleb Williams draft odds once available.

Williams is supremely talented and has good size at 6-foot-1 and 215 pounds. Previous No. 1 overall picks Baker Mayfield and Kyler Murray were also products of USC Head Coach Lincoln Riley’s offense (previously at Oklahoma), but both have a smaller stature than Williams.

It is expected that Caleb Williams NFL Draft projections will be among the Top 10 picks in 2024.