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Bowl odds are out, and Alabama and Oklahoma are the favorites to advance to the national championship game, according to OddsShark. The Crimson Tide are favored by 10 points over Michigan State after opening as a nine-point favorite, while the Sooners are favored by four points over Clemson after opening as a 1.5-point favorite.
Elsewhere in the New Year's Six bowls, Florida State is favored by 6.5 points over Houston in the Peach Bowl, Stanford is favored by 6.5 points over Iowa in the Rose Bowl, Ohio State is favored by six points over Notre Dame in the Fiesta Bowl and Ole Miss is favored by seven points over Oklahoma State in the Fiesta Bowl.
The SEC is a big favorite in many bowl games in the eyes of Vegas. The conference is favored in nine of its 10 games. On the other hand, the Big Ten is favored in just four of its 10 games.
| Bowl | Favorite | Underdog | Spread |
| New Mexico | Arizona | New Mexico | 11.5 |
| Las Vegas | Utah | BYU | 3 |
| Camellia | Appalachian State | Ohio | 9.5 |
| Cure | San Jose State | Georgia State | 4 |
| New Orleans | Arkansas State | Louisiana Tech | 1 |
| Miami Beach | Western Kentucky | South Florida | 3 |
| Potato | Utah State | Akron | 6.5 |
| Boca Raton | Temple | Toledo | 1 |
| Poinsettia | Boise State | Northern Illinois | 8 |
| GoDaddy | Bowling Green | Georgia Southern | 7.5 |
| Bahamas | Western Michigan | Middle Tennessee | 3 |
| Hawaii | Cincinnati | San Diego State | 2.5 |
| St. Petersburg | Marshall | Connecticut | 4.5 |
| Sun | Washington State | Miami | 1.5 |
| Heart of Dallas | Washington | Southern Miss | 8.5 |
| Pinstripe | Indiana | Duke | 2 |
| Independence | Virginia Tech | Tusa | 14 |
| Foster Farms | UCLA | Nebraska | 6.5 |
| Military | Navy | Pitt | 5 |
| Quick Lane | Minnesota | Central Michigan | 6 |
| Armed Forces | Cal | Air Force | 6.5 |
| Russell Athletic | Baylor | North Carolina | 3.5 |
| Arizona | Colorado State | Nevada | 3.5 |
| Texas | LSU | Texas Tech | 7.5 |
| Birmingham | Auburn | Memphis | 2.5 |
| Belk | Mississippi State | NC State | 7 |
| Music City | Texas A&M | Louisville | 2.5 |
| Holiday | USC | Wisconsin | 3 |
| Peach | Florida State | Houston | 6.5 |
| Orange (Playoff) | Oklahoma | Clemson | 4 |
| Cotton (Playoff) | Alabama | Michigan State | 10 |
| Outback | Tennessee | Northwestern | 9 |
| Fiesta | Ohio State | Notre Dame | 6 |
| Citrus | Michigan | Florida | 4 |
| Rose | Stanford | Iowa | 6.5 |
| Sugar | Ole Miss | Oklahoma State | 7 |
| TaxSlayer | Georgia | Penn State | 7 |
| Liberty | Arkansas | Kansas State | 13 |
| Alamo | TCU | Oregon | EVEN |
| Cactus | Arizona State | West Virginia | 1.5 |